Practice Management and Growth Guidance

This is part 2 of a 2-part series.

Part 1: Finding Synergy With Service Providers

So what does Synergy offer the aesthetic practice? Schoenbart says they provide practice owners with practice management and growth guidance that fall into three categories: products, education, and marketing.

“What Brendan and I do, and what we're really instilling in our reps as well, is to speak with customers about those three categories and talk about practice management, asking questions such as, how are you going through your inventory management? How are you ensuring you're maximizing your profitability within your business? And try to gauge feedback from there,” says Schoenbart.

From a practice management standpoint, Synergy offers a hands-on support for getting financials in order and supporting a smart service offering strategy.

“We’ve looked at their financials and we've looked at the various competing products that they have, skincare, injectables, devices, and [we provide] an audit or summary to them, that have, for some practices, increased the profitability tremendously, and it’s not always in favor of our products. We want to do what's best for that specific customer,” says Schoenbart.

Specific to education, Synergy has support from Merz for on- and off-label training, as needed.

“From an education perspective through our partnership with Merz, we have Merz Aesthetics consultants through their medical affairs team. We’ll actually send a trainer into a practice… to really educate our customers and that’s at zero cost to the customer,” says Schoenbart.

In terms of marketing, Synergy has partnered with four different organizations in the aesthetic space: FriendMedia, HumazeMD, PatientPop, and Go Together Media.

According to Schoenbart, “Each of those four companies has various value propositions to our customer base…. Friend Media has TV displays and tablets for educational support for patients to really educate patients for additional procedures... HumazeMD is before-and-after technology. PatientPop helps with designing and developing websites [and] finding patients, and Go Together Media for social media support.”

To further foster relationships with their aesthetic practice clients, Synergy has a loyalty program that not only rewards practices with partner service costs, it also helps to monitor practice success.

“When we find a gap, rather than asking [our clients] to spend more money and try to go to another company, we work with them in their initiation fees or their starting fees with those various different partner companies,” says Schoenbart.

Schoenbart says they then works with their clients to monitor these new initiatives to ensure they’re a good fit. If not, they say, they’ll come up with something else.

“We want to really focus on being that kind of one-stop-shop for a Midwestern healthcare provider in the aesthetic space and really focus in on strategies and execution with a Midwestern-based team focused on Midwestern customer. I think that will really differentiate us and over time really help us with fostering relationships,” says Schoenbart.