Optimizing Revenue At a Cosmetic Surgery Centre

BACKGROUND The demand for cosmetic surgery and services has diminished with recent fluctuations in the economy. To stay ahead, surgeons must appreciate and attend to the fiscal challenges of private practice. A key component of practice economics is knowledge of the common methods of payment. OBJECTIVE To review methods of payment in a five-surgeon group practice in central Texas, USA. METHODS A retrospective chart review of the financial records of a cosmetic surgery centre in Texas was conducted. Data were collected for the five-year period from 2003 to 2008, and included the method of payment, the item purchased (product, service or surgery) and the dollar amount. RESULTS More than 11,000 transactions were reviewed. The most common method of payment used for products and services was credit card, followed by check and cash. for procedures, the most common form of payment was personal check, followed by credit