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Ancillary Income
Skincare Products: A Lucrative Ancillary Revenue Stream

Your patients want to feel good and stay healthy, but let’s face it - they also want to look great. As a doctor of chiropractic, you are already teaching your patients about preventive care - how to keep their bodies and nervous systems in balance with emphasis on regular adjustments, exercise, rest, and proper diet. But what about the skin? Stress, aging, and other environmental factors such as pollution and UVA/UVB damage can cause the skin to become unbalanced, dehydrated, and discolored.

Consumers are always searching for and buying products to combat stressed-out skin and reverse the signs of aging. To help your patients with the never-ending quest for healthy, youthful-looking skin, why not incorporate skincare products into your ancillary product offerings? High-quality skincare products, sometimes called cosmeceuticals, offer benefits and results beyond over-the-counter products sold in drug stores and discount stores. If managed correctly and recommended appropriately, offering skincare products can create a lucrative new source of income for your practice while also serving your patients’ best interests.

The economically empowered Baby Boomer population has helped fuel the $2-billion-a-year cosmeceutical market, which is estimated to grow to $3.6 billion by 2006 (according to Cosmeceutical Trends, 2002). Within the cosmeceutical market, the biggest sellers are “anti-aging” and “wrinkle-reduction” lotions and serums; sunscreen and products to control acne are also in high demand.

High-quality cosmeceuticals are usually priced at a premium, mainly due to the high percentages of age-combatting vitamins, amino acids, electrolytes, anti-oxidants, and trace minerals used as ingredients. And because of the consultative nature associated with selling premium skincare, some companies prefer to market their products through healthcare providers.

The Right Products For Your Practice
With hundreds of companies in the skincare market and thousands of products, how do you decide which products to sell in your practice? Consider visiting the exhibits at an esthetic trade show, where skincare companies market their products to health-care providers, estheticians, and spa owners. And because some nutritional companies are now branching into the premium skincare market, you can also find skincare lines marketed at chiropractic trade shows and conferences.
To address all of your patients’ skincare needs, it’s beneficial to market a complete product line comprised of cleansers, toners, eye creams, anti-aging serums, sunscreens, and daily moisturizers. Look for companies that offer comprehensive lines with complementary products designed to work together. And do your homework by spending time speaking to company representatives about their products.

Some questions include:
• Have your products been clinically tested?
• How long has your skincare line been available?
• What makes your products unique?
• Do you offer a suggested pricing structure?
• What are the typical profit margins?
• Can you refer me to other chiropractors/health-care providers who have sold your products?

Marketing to Your Current Patient Base
Once you have chosen a skincare line, it is important to train your staff about the products and their benefits. Ask the skincare company for some samples and encourage your staff to use the products so they can effectively address any questions from patients. You may want to appoint a staff member as your skincare specialist, who will stay informed about trends and new products.

After proper training, your office’s skincare specialist can serve as the point person for fielding questions and can also design individualized regimens for your patients. There is a tremendous residual sales opportunity with skincare, so it is important that your patients are satisfied with the products the first time they buy.
Every person entering and exiting your office should be able to see your new skincare line. Make sure the products are displayed in your waiting area and that your front office staff can answer basic questions about the products. Consider establishing a commission structure to incentivize the front-office staff to promote the products. Placards and product brochures should also be placed in the reception area.

Finally, make sure you mention the addition of your skincare products in any advertisements or newsletters. Your patients won’t know about your new products if you don’t promote them both within and outside of your practice.

Once you establish your skincare business, the revenue possibilities are enormous, and they are unaffected by managed care.

Ms. Lennon is a writer for biO2 Cosmeceuticals. She can be reached through biO2 at 800-599-8885.


 
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