Medical Empires18 Nov 2024

How To Stay Updated On Industry Trends When Scaling A Medical Businesses - EP 113

In today's episode, I'm diving into the importance of staying up-to-date on industry trends and best practices when scaling a medical company. In the med spa and medical clinic world, change can feel slow. Yes, there's always a buzz around new products and machines, but the reality is that the tried-and-true treatments often bring the most value. While we're constantly researching new trends and testing products, we only introduce them once they've been proven reliable. For instance, with a product like Daxxify—a longer-lasting botulinum toxin—we initially rolled it out at one location with our top injector after monitoring the market for over a year. This careful approach ensures that we bring safe, effective options to our clients without using them as test subjects.

When adding new services, it's essential to prioritize compliance and legal standards, especially when expanding into new states. Laws vary widely, with some states requiring higher credentials for procedures that other states allow with minimal training. This is why retaining legal counsel familiar with state-specific medical regulations is crucial. Additionally, it's wise to hire a competent accountant to manage your books from the start. Consistent consultation with legal experts ensures we're doing everything by the book, allowing us to scale without unnecessary risks or compliance issues. Having a knowledgeable team supporting these efforts has been invaluable for our sustained growth.

Ultimately, we focus on offering services that are in demand and proven effective. This means sticking to pillars like weight loss, hormone therapy, and aesthetics rather than chasing every trend. For example, weight loss services continue to rise with the country's increasing obesity rates, making them a wise addition to any medical business. We also ensure any new treatments we adopt are well-known and marketable. Using tools like Google Trends and SEMrush, we gauge public interest and avoid adding obscure services that clients aren't looking for. Trends may come and go, but by focusing on high-quality, proven treatments, we've scaled consistently, delivering lasting results. If you're curious about the services we provide or want to see which trends have made the cut, check out our websites for Genesis Lifestyle Medicine and Accesso Bio for insight into what drives our growth and success.

Welcome to The Spinoso Podcast hosted by CEO, doctor, comic book geek, and car guy, Alex Spinoso. I help people and companies grow - especially in the medical business. While my experience and expertise is in scaling all types of medical businesses to 7, 8, 9-figures or more, I can be a mentor to anyone who wants to take ownership of their lives, become a better leader at home and at work, and overcome any obstacle that stands in their way.

(0:00) - Intro

(0:48) - Staying Updated with Industry Trends

(3:20) - Marketing and Compliance in Medical Businesses

(5:30) - Scaling Medical Businesses with Proven Practices

(6:00) - Evaluating New Services and Products

(8:30) - Focusing on Proven Services and High-Quality Marketing

(9:40) - Conclusion

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