How independent dermatology and cosmetic medical clinics can survive and thrive in the future.
The past ten years has seen more than 1057 dermatology and cosmetic medical clinics get acquired by larger dermatology groups in the US. The cause? The increasing administrative burdens of owning and doing business is leading to an unprecedented rate of burn out and dissatisfaction.
This phenomenon is causing practitioners to join the growing number of consolidators – making dermatology and cosmetic medicine the next revolutionary wave in an ever-changing healthcare landscape.
In 2017, 57% of practitioners said they spent over 10 hours a week on repetitive paperwork and admin tasks number. In 2018, that number increased to 70%. But in 2021, an even higher percentage of practitioners reported spending on average 15.6 hours per week, almost two full working days, on these energy and time-consuming tasks. The problem is increasing, with no end in sight.
AMG has been studying this phenomenon and the rise of acquisitions on the part of consolidators.
We know that practitioner burnout is skyrocketing because mental and physical resources are being spent on tasks which aren’t essential to the caring of patients or the passion to practice high-quality medicine.
This is an ever-increasing problem! There are now more than 19 dermatology and cosmetic medical consolidator groups in the U.S. today, and this number will continue to grow as these clinic principals clearly see the benefits of partnering with these groups.
AMG is paving the way in Australia. We’ve created a business model that engages only the best practices, processes, and rewards of our U.S. counterparts, but is culturally and legally relevant for Australia’s practitioners and businesses. We identify the most respected clinic principals and partner with them so they can get back to doing what they got into this business to do: help patients.
The 8 immediate benefits of partnering with AMG:
- No more administrative and business burdens: Admin and business burdens negatively impact job satisfaction and inevitably lead to a decrease in quality of life. Partnering with AMG shifts time back to the patient and frees up practitioners so they can do the things they love.
- Attractive exit strategy: Partnership enables clinic principals to monetise the business they’ve spent many years building, maintain clinical control, and see continuity in their clinics, long after their exit. The business you’ve built continues to operate and you continue to earn.
- Accelerate clinic growth and expansion: Partnering with AMG will keep you competitive in a business where change is the norm. AMG gives you access to a suite of valuable resources that prepare and elevate a clinic to its next level of growth.
- Complete focus on patient care: This is really what you want to do, isn’t it? Partnering with AMG provides practitioners and staff the support they need to remain patient-centric.
- Access capital when required and invest in growth: Occasionally, a clinic will need money to grow or evolve. AMG’s financial resources can take a clinic to that next level. It’s a relationship that can deploy capital when required.
- You remain a partner, not an employee: Partnering with AMG means you are still the clinical lead. We won’t have it any other way. Your patients should congratulate you, not worry about you. Your patients must feel secure that the practitioner they know, and trust is still in charge of their care.
- Reduce worry and business risk from increasing ATO and regulatory scrutiny: Partnering with AMG means insurance, tax, and other regulatory compliance matters will be handled by our staff of professional accountants, lawyers, and advisors. We relieve clinic principals and practitioners of these worries, responsibilities, and headaches.
- Increase strength against competition: Partnering with AMG turns a well-respected clinic into a well-known brand. We enable you to remain the leader in your area with new service offerings, increased internet visibility and reach, and the strength of our network.
It’s time for Australia to take the lead as premier dermatology and cosmetic medical consolidators, providing the most respected clinic principals with partnerships that form the bedrock of a robust patient-centric group. Partnering with AMG is how your business will stay at the forefront and meet the demands of the future, while freeing you up to be the best you can be in your field.
The future is now. AMG is your opportunity to enjoy it.
To learn more about AMG and the benefits of partnering with us, go to…