Ep. 114 - Todd Watts on Cracking the Code of Subscription-Based Aesthetics

Imagine a membership platform for non-invasive aesthetic treatments that allows patients to make affordable monthly payments while practices get paid upfront in full.Well as it turns out, we don't have to imagine it… because PRIVI is the first subscription plan of its kind, and PatientFi CEO & Co-Founder Todd Watts is here to tell us about it.In this exclusive interview with Dr. Grant Stevens, Todd breaks down the mechanics of a financing model that promises "frictionless beauty" for patients — including effortless scheduling, instinctive upselling, and dynamic pricing for treatment plan modifications.Tune in to find out why Dr. Stevens feels that PatientFi cracked the code of subscription-based aesthetics on the latest episode of The Technology of Beauty.Show Notes:0:00 Intro0:37 Background7:32 The origins of PatientFi11:57 Financing packages and products13:40 Changing how practices quote their procedures15:23 Doubling growth by changing financing and pricing16:48 Simplifying front office education19:25 The launch of PRIVI21:11 Frictionless beauty: paying for non-invasive treatments on a monthly subscription23:58 Inside the mechanics of the financing model (with the practitioner paid up front)25:28 Subscription-based financing for MedSpas26:54 Dynamic pricing for treatment plan modifications & upsells30:40 Making scheduling effortless for upcoming procedures33:11 Members spend 72% more than one-time customers35:24 1 in 3 U.S. adults are considering a non-invasive cosmetic procedure36:42 Closing words» Apple Podcasts | https://podcasts.apple.com/us/podcast/technology-of-beauty/id1510898426» Spotify | https://open.spotify.com/show/0hEIiwccpZUUHuMhlyCOAm» Recent episodes | https://www.influxmarketing.com/technology-of-beauty/» Instagram | https://www.instagram.com/thetechnologyofbeauty/» LinkedIn | https://www.linkedin.com/company/the-technology-of-beauty/The Technology of Beauty is produced by Influx Marketing, The Digital Agency for Aesthetic Practices. https://www.influxmarketing.com/Want more aesthetic insights? Subscribe to Next Level Practices, the show where we discuss the ever-changing world of digital marketing and patient acquisition and bring you the latest ideas, strategies, and tactics to help you take your practice to the next level. https://www.influxmarketing.com/next-level-practices/