Can Private Equity Actually Work for Plastic Surgeons? — Vinaya Rednam, MD (Ep. 372)

📕 Get Catherine's new book: Beauty and the Biz Practice Growth Playbook: https://bit.ly/4cZNSuD 📊 Schedule a Practice Performance Audit: https://bit.ly/4dC2znZ ⬇️  ➡️  Vinaya Rednam, MD, shares her experience on how private equity can actually work for plastic surgeons — even in a multi-location partnership. Hello, and welcome to "Beauty and the Biz," where we'll discuss the business and marketing side of plastic surgery. As always, I'm your host, Catherine Maley, author of "Your Aesthetic Practice – What Your Patients Are Saying." and consultant to plastic surgeons, helping them get more patients and more profits. Can Private Equity Actually Work for Plastic Surgeons? — Dr. Vinaya Rednam shares how her group preserved its autonomy. Additionally, she discusses individual brands and clinical control. Admittedly, private equity has a mixed reputation in plastic surgery. Indeed, there is a good reason for this. Therefore, this week's "Beauty and the Biz Podcast" interview with Dr. Vinaya Rednam was so interesting. Specifically, Dr. Rednam is a board-certified plastic and reconstructive surgeon in Houston. Furthermore, she has spent all 11 years of her career in the same private multi-surgeon practice. Unsurprisingly, she watched it grow from three surgeons in a tiny office to eight surgeons. Also, the practice expanded into two 10,000-square-foot locations. Additionally, they now have three operating rooms. Presently, a fourth operating room is coming. Moreover, the group opened multiple medical spas. Subsequently, the group joined a surgeon-led reconstructive private equity model. Crucially, they did this without giving up everything that made its surgeons successful. Significantly, in this episode of the "Beauty and the Biz Podcast", Dr. Rednam explains why their arrangement has worked: First, practicing plastic surgeons help lead the private equity organization. Second, partners still influence budgets, equipment and marketing. Third, surgeons maintain their own websites, social media and coordinators. Finally, compensation rewards individual profitability while supporting shared expenses. However, it isn't all smooth sailing. Sometimes, different leadership styles can create tension. Particularly, this happens when building one culture and a consistent patient experience. Nevertheless, Dr. Rednam's experience offers a rare look at how private equity can support growth. Ultimately, this growth happens without taking away the surgeon's identity. Thus, if you are considering a group practice, partnership or private equity deal, listen before signing anything. Undoubtedly, the structure and who controls it matters. P.S. Ultimately, Dr. Rednam's model works for her. However, every practice has different goals, risks and trade-offs. Fortunately, the "Practice Growth Playbook" shares lessons from more than 175 surgeon interviews. Hopefully, this will help you make smarter decisions about growth, leadership, marketing and your future. Resources for Plastic Surgeons: 📕 Get the Beauty and the Biz Practice Growth Playbook: https://bit.ly/4cZNSuD 📊 Schedule a Practice Performance Audit: https://bit.ly/4dC2znZ 🎧 Listen to more Beauty and the Biz episodes: https://bit.ly/4aqQ2Su 🌐 Visit Catherine Maley: https://bit.ly/4eFlLR6 Enjoy, Catherine Maley, MBA Author, Consultant and Host of "Beauty and the Biz" 🔄 LET'S CONNECT: 📸 Instagram: https://bit.ly/4aVlqZn 🤝 LinkedIn: https://bit.ly/4anhDny   Visit Dr. Rednam's Website #BeautyAndTheBiz #PlasticSurgeryPodcast #PlasticSurgeryMarketing #AestheticPracticeMarketing #CosmeticPracticeGrowth #CatherineMaley