Shorr Solutions guides your existing team in the right direction when it comes to your operational, administrative, and financial health. We don’t take the place of your existing staff, and ultimately strengthen your bottom line. We always sign a non-disclosure with our clients to protect your data, and work well with your other consultants, including your public relations firm, website design firm, SEO company, lawyer and accountant, for example.
- One-on-one coaching with you and your team.
- ALWAYS have direct access to Jay and Mara, our award-winning partners.
- Not only do we specialize in the cosmetic surgery, plastic surgery and medical spa industry, we’re former aesthetic medical practice owners! For example, Jay spent several days each week inside the operating room itself, ordered inventory himself and was the one to make real-life HR decisions when employee theft became an issue. In addition to working inside this industry on an ongoing, day-to-day basis, there’s little you can come up with that we haven’t heard or seen before. Seriously!
- We bring more than four decades of experience to the table, along with an expert team to bring financial and negotiation assistance, HR expertise, phone/sales training, vendor selection and negotiation assistance, marketing guidance, and more to your aesthetic practice. We hear from our clients time and time again that they would rather pay to utilize our services to do things right the first time than pay BIG TIME to have to fix things once they’re broken. Our expert assistance is worth it. But don’t take it from us, you can read what clients have to say here.
- This depends on what point you want to sell your practice at and the different stages of your practice. Your business is worth either a factor of your gross sales and a factor/ratio of earnings/EBITA (Earnings Before Interest, Taxes, and Amortization).
- We will go through your P&L statements quarter by quarter and year by year. Ultimately, you will sell your practice based on either: a multiple of your gross or net profits, future potential/earnings, the value of your capital equipment and/or tangible assets, the goodwill of your practice (patient base), and your inventory.
You need to have an exit strategy in place in the event that you want to sell your practice due to circumstances such as the following:
- Illness or disability
- Premature demise (death)
- Natural disaster (hurricane, earthquake, fire, flood, etc.)
- Sudden and unexpected catastrophe (e.g. pandemic)
- You’re ready to relocate, travel, or transition into another career
You can see that it’s important that you have an exit strategy in place essentially right now. There’s no telling when these events will happen. Due to the COVID pandemic, we’ve seen providers wanting to retire earlier than expected or sell their practices and work for another practitioner.
We coach you in defining, planning, and refining your action steps towards exiting your business. There will be no guesswork and all your bases will be covered.
Having an exit strategy also ensures you get the most value for all of your efforts placed over the years. You want to prepare your practice for sale, improving as many areas as you can to increase its worth. For example your marketing ROI, patient lead conversions, current processes, and profits.
When looking to sell your practice, you can either train a predecessor (i.e., a family member) or trainee to take over, or you can just simply sell to a buyer.
- If your exit strategy is just about selling and not setting up an heir, then we will focus on getting you the highest monetary value.
- If your plan is to train an heir, you must choose someone that gels with you and your staff, and your patients. If your patients do not trust the doctor who will be treating them after you exit, then there will be no practice. Making sure your patients are indoctrinated with the new provider is the key to the success of your practice once you exit.
- Once you have your heir in place, we help you set up a legal agreement that makes the transition seamless.
Shorr Solutions offers aesthetic medical practices and providers the opportunity to enroll into our 0% patient financing program. We have a deal with creditcards.com that allows our one-time and full-service clients to provide an avenue for patients to pay for their elected treatments and procedures at 0% interest. Here’s how it works:
- We give you the unique link to our creditcard.com page, which you would give to your patient in order to select their financing credit card.
- When you miss a payment or are late, you can get up to 18 months with no interest plus not lose your entire house over missing one payment. If you use a financing company like CareCredit and miss a payment or are late, you are charged a late fee plus the interest on the payment you missed.
- Embrace a great advantage. Not only does our program provide a much needed payment alternative for your procedures (so it fits inside your patient’s budget!), you’ll have the best processing fees when the patient swipes their credit card.
All in all, our program assists you in closing the sale during the consult by being able to offer financial assistance to your valued patient, and helps you lower your costs due to lower fees.
There are 4 different aspects of a credit card transaction:
- Merchant processor: The merchant processor takes the credit card information and data from the merchant and processes the transaction. They charge different fees on top of the interchange fee that is set by the bank.
- Bank: charges an interchange fee, non-negotiable.
The merchant processor is the middle man between the merchant and the bank. They charge the merchant in a hundred different tiny fees and we work to reduce those fees. We negotiate with the merchant processor to get you the lowest fees.
There is a lot of strategy that goes behind deciding on the perfect location for your practice. With our help, we will put together a geographic and demographic analysis that provides the data to help us determine where the right location actually is for you. The report includes an analysis of factors such as age, gender, income, housing, and competition.
No two aesthetic practices are alike but many perform the same services. It really depends on what procedures you will be performing and the demographic location your practice is in. You want to be careful to have the patient base to drive revenue so you do not end up with a laser or equipment graveyard. Every practice has the infamous “equipment graveyard,” basically meaning that everyone has pieces of equipment that they bought and do not use. Lastly, do not get caught up with aggressive salespeople. Make sure you know the equipment you want.
There are five steps when hiring new staff:
- Recruiting (you can go about this through HR employment channels, referrals, vendors, etc.)
A third-party practice management consulting firm like our team of experts or a qualified team of professionals you’d like to work with, can assist you in this process!
You need to have it reviewed by an attorney and/or a third-party practice management consultant to determine the liability of your exit strategy. You have to be careful of non-competes and any previous negative negotiations.
The process can take 6 months to a year.
You should start planning to open your aesthetic practice the moment you decide you want to open it. It is never too early! As practice management consultants we can assist you in your complete process. We’ll assist you in finding your perfect location and will conduct a feasibility study on demographic and geographic factors, as well as assess your competition. We’ll also assist you in planning your vendor management, staffing, capital equipment for the production of revenue, and figuring out what makes your practice different and special. You also have to make sure that you have an electronic medical system, website, and computers set up before you open. We’ll work on setting these up with you as well.
Of course! Now more than ever, we live in a remote world. Whether you prefer text, email, phone calls or video conferences, we’re here to communicate with you in your preferred method of communication. We do offer an option of in-person training sessions for those practices that prefer to have us on-site, COVID-permitting, which can be arranged on a case-by-case basis.
We understand that we aren’t the least expensive consultants in the industry… just as you likely aren’t the least expensive option when it comes to injectables or surgery. We bring more than four decades of experience to the table, along with an expert team to bring financial and negotiation assistance, vendor assistance, HR expertise, sales training, marketing guidance and more to the table. We hear from our clients time and time again that they would rather pay to utilize our services to do things right the first time than pay BIG TIME to have to fix things once they’re broken. Our expert assistance is worth it. But don’t take it from us, you can read what clients have to say here.
We work hard to maintain positive vendor relationships to bring to you when you need it most. Those vendors include, but are not limited to, device manufactures, suture vendors, skincare vendors, group purchasing organizations, credit card processing and patient financing vendors, website companies, event experts, healthcare attorneys and more. These vendors are our colleagues and we know they will provide quality and excellent services to practices just like you.
We understand that this happens, and we’re happy to answer any and all questions you have. Please feel free to email all additional questions, even after your initial free consultation with Shorr Solutions, to our founding partner, Jay Shorr ([email protected]), or our partner, Mara Shorr ([email protected]). Remember that one of the things that makes Shorr Solutions different is your ability to have direct access to our company leadership.
We suggest having all decision-makers on your initial free consult call. Just as you would recommend to your patient that they bring their spouse or family member who will be assisting in the decision making process or post-operative care… we suggest the same thing. This is going to allow your team members to ask all of your unique questions in your initial call with Shorr Solutions.
Not only do we specialize in the cosmetic surgery, plastic surgery and medical spa industry and bring to you more than four decades of award-winning expertise, we’re former aesthetic medical practice owners! You can read more about our backgrounds here, but know that we’ve been there, done that. For example, Jay spent several days each week inside the operating room itself, ordered inventory himself and was the one to make real-life HR decisions when employee theft became an issue. In addition to working inside this industry on an ongoing, day-to-day basis, there’s little you can come up with that we haven’t heard or seen before. Seriously!
We work with practices who are at all life stages. Whether you’re looking to open a new practice, fine-tune issues in your existing practice, or create an effective plan for your exit strategy, our team of experts is here to guide you.
We’re happy to offer a free, one-hour consultation just so you can make sure we’re a fit. Click here to schedule a time that works for you. With clients across the United States and Canada, we’re available to you at your convenience, and understand your meeting availability may occur outside of the 9-5 hours. Whether you’re looking for a site visit to evaluate all of your practice’s needs or a simple contract negotiation, we have a plan that’s right for you.
Shorr Solutions guides your existing team in the right direction when it comes to your operational, administrative and financial health. We don’t take the place of your existing staff, and ultimately strengthen your bottom line. We always sign a non-disclosure with our clients to protect your data, and work well with your other consultants, including your public relations firm, website design firm, SEO company, lawyer and accountant, for example.
We’re specialists in the cosmetic and aesthetic medical community. We’re proud to work with both medical spas (aka med spas), as well as cosmetic surgery and plastic surgery practices. Our clients are based throughout the United States, and the joy of today’s technology is that we’re able to meet by phone, FaceTime, Zoom, GoToMeeting, Skype, text, e-mail… you name it! We just find that smoke signals are SO last year.
We focus on the administrative, operational and financial health of your business. To view a full list of our services click below.
We also offer a variety of affiliate services, including guaranteed low rates on credit card processing, group buyers/purchasing organizations, zero percent interest patient financing programs and more.
Jay Shorr and Mara Shorr are well-versed in working in the medical industry as well as with other small businesses. View their full biographies below.
We have been in the dermatology, aesthetic, cosmetic, and plastic surgical industry for many years and sold our surgery center in 2015. We have been consulting with medical and spa practices on a full time basis since 2012.