Keep What You Earn

Hiring is already expensive. Weak contracts, unclear roles, or the wrong worker classification can make it a lot more expensive later.  In this episode, I sit down with Sarah, a healthcare attorney and former med spa owner, to talk about the legal and financial gaps that show up as practices grow. We cover partnership agreements, W-2 vs. 1099 classification, job descriptions, expansion risk, and how poor documentation can hurt enterprise value.  Put It in Writing Before You Need It  Partnerships and employment relationships are easiest when everyone agrees. That's when you should document pay, responsibilities, expectations, and what happens if things change. Job descriptions should also match the work people are actually doing—not a generic template. If the paperwork says one thing and the practice does another, that's where risk starts. Fix the Legal Cracks Before You Scale  Before you add another location, provider, or partner, check the foundation:  Make sure agreements match the real working relationship  Review W-2 vs. 1099 classification  Update job descriptions as roles change  Confirm payroll and scheduling support the classification  If the first location still runs on workarounds, a second one will multiply the risk.  (00:04:35) Starting without the right paperwork  (00:11:39) Risks of expanding too early  (00:20:25) Why documentation matters  (00:23:59) Preparing for a smoother sale  (00:28:10) W-2 versus 1099 classification  "1099 Employee" Is Not a Thing  Worker classification isn't based on preference. Control, scheduling, exclusivity, and the actual relationship matter. Part-time doesn't automatically mean contractor, either. Misclassification can mean penalties, unenforceable agreements, and ugly surprises during due diligence.  Buyers Pay More for Less Risk  Clean financials matter, but buyers also look at contracts, payroll, staff arrangements, and how much cleanup they'll inherit. Tightening those areas now can make the practice easier to scale today and easier to sell later.  About Sara Shikhman:  Sara Shikhman is an experienced healthcare lawyer and entrepreneur with over 16 years of expertise. She and her team have assisted more than a thousand clients in navigating the healthcare industry's complex legal and regulatory landscape, negotiating contracts, protecting intellectual property, and obtaining funding. As CEO and COO, she has also led several multi-million-dollar ventures, including an e-commerce company that generated over $13 million in revenue in two years and a med spa that expanded from one room to 12 locations across multiple states, generating over $13 million in annual revenue.   Connect with Sara:  Website: https://lengealaw.com/  Free Consultation Booking Link: https://lengealaw.cliogrow.com/book/44df0ed4ba012f9e04d8565f2c9c9aa4  Follow Shannon & Keep What You Earn:    Shannon Weinstein is the founder of a fractional CFO firm specializing in helping 7-figure aesthetics and wellness practices scale with clarity, cash flow, and confidence. She is committed to helping med spa owners understand, fix, and maximize their business's enterprise value, offering actionable advice and resources, including a popular free video series specifically for aesthetics practice owners.  Fractional CFO Services and Executive Financial Review: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein   Watch full episodes: https://www.youtube.com/@KeepWhatYouEarn   Listen on your favorite podcast app: https://pod.link/1580071347   Instagram: https://www.instagram.com/shannonkweinstein/   The information shared is for educational purposes only and is not individualized financial advice. Aesthetics practice owners should consult a qualified professional before implementing financial strategies discussed here. 

Per-unit pricing for neuromodulators feels logical because that's how you buy the product. But it can create billing anxiety, invite negotiation, and keep patients focused on units instead of results.  In this solo episode, I break down how per-area pricing can improve the patient experience and make revenue more predictable. We'll look at margins, EMR data, and how to price around outcomes without guessing. Patients Shouldn't Be Doing Math in the Chair  When patients have to calculate units during a consultation, price becomes part of the treatment decision. They may ask for fewer units to stay on budget, which can compromise the result. Flat upper face, lower face, or full face pricing shifts the conversation back to the outcome and lets the injector recommend what's appropriate. Build Flat Pricing From Your Own Data  Don't pick a flat rate because it sounds cleaner. Start with your numbers:  Pull average usage by treatment area from your EMR  Include product, labor, injector commission, and membership discounts  Calculate loaded cost and target gross margin  Keep per-unit pricing where precision treatments need it  Some appointments will run higher and some lower. What matters is that the averages come from real usage and the margin holds.  (00:04:35) Pricing concerns in cosmetic procedures (00:07:36) Managing patient expectations and value (00:13:22) Benefits of flat pricing (00:16:06) Shifting toward outcome-based pricing  Take Negotiation Out of the Treatment Room  Patients should be deciding whether the treatment plan fits their goals and budget—not negotiating units with the injector. Clear pricing gives your team more room to educate and recommend the right treatment. Predictable Pricing Makes Growth Easier  Price from actual usage and your full cost structure, and you'll get cleaner margins, more predictable revenue, and fewer cash flow surprises. As you scale, a repeatable pricing model is also easier to train and use across providers. Follow Shannon & Keep What You Earn:    Shannon Weinstein is the founder of a fractional CFO firm specializing in helping 7-figure aesthetics and wellness practices scale with clarity, cash flow, and confidence. She is committed to helping med spa owners understand, fix, and maximize their business's enterprise value, offering actionable advice and resources, including a popular free video series specifically for aesthetics practice owners.  Fractional CFO Services and Executive Financial Review: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein   Watch full episodes: https://www.youtube.com/@KeepWhatYouEarn   Listen on your favorite podcast app: https://pod.link/1580071347   Instagram: https://www.instagram.com/shannonkweinstein/   The information shared is for educational purposes only and is not individualized financial advice. Aesthetics practice owners should consult a qualified professional before implementing financial strategies discussed here. 

People are one of the hardest parts of a practice. Even with careful hiring and a great culture, you'll still deal with turnover, performance issues, and the occasional wrong fit.  In this episode, I sit down with Amy Anderson of ACG Practice Partners to talk about when people problems are actually process problems. We cover retention, compensation, hiring, transparency, and the operational leaks that get more expensive as you grow. Make It Easier for Good People to Stay  You can't guarantee every great provider will stay, but you can make sure they understand their role, how they're evaluated, and how compensation works. Clear job descriptions, check-ins, and transparency around gross margin and pay can prevent confusion.  Before You Blame the Person, Look at the Process  If a different person stepped into the role tomorrow, would the same problem still happen? If yes, look at the system before replacing the person.  Before you hire again, review:  Job descriptions and onboarding  KPIs and compensation plans  Lead handoffs and manual work  Hiring criteria  Small inefficiencies add up fast as the team grows.  (00:05:48) Retaining good providers (00:25:56) Diagnosing people versus process problems (00:35:33) Improving hiring decisions (00:40:08) Finding workflow inefficiencies and revenue leaks (00:44:29) Building accountability into operations  Share the Numbers Your Team Can Actually Influence  You don't need to hand everyone your entire P&L. Give your team the metrics tied to their work, like gross margin, booking rates, follow-up, or conversion. Then performance conversations have something concrete to work from. Small Operational Problems Get Bigger With Growth  A small inefficiency can become wasted payroll, missed revenue, and unnecessary headcount as the practice expands. Start with what's costing the most time or money. Stronger systems help good employees work without the owner constantly stepping in, leading to better accountability, healthier margins, and less stress. About Amy Anderson:  As a nationally recognized expert and CEO of ACG Practice Partners, she brings over 20 years of hands-on, non-clinical experience in the aesthetics industry. Known for her practical leadership and human-centered approach, Amy has guided practices of all sizes, from startups to multi-specialty groups, on optimizing operations, building strong teams, and achieving sustainable growth. She is especially sought after for her ability to empower leaders and tailor strategies that fit each practice's unique culture. Amy is a frequent national speaker and trusted advisor to surgeons and their teams.   Connect with Amy: ACG Practice Partners: https://acgpracticepartners.com/amy-anderson/ LinkedIn: https://www.linkedin.com/in/amyandersonmba  Instagram: https://www.instagram.com/amyandersonmba/reels/  MedSpa Pro: https://www.medspaproevent.com/expert/amy-anderson.html  Follow Shannon & Keep What You Earn:    Shannon Weinstein is the founder of a fractional CFO firm specializing in helping 7-figure aesthetics and wellness practices scale with clarity, cash flow, and confidence. She is committed to helping med spa owners understand, fix, and maximize their business's enterprise value, offering actionable advice and resources, including a popular free video series specifically for aesthetics practice owners.  Fractional CFO Services and Executive Financial Review: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein   Watch full episodes: https://www.youtube.com/@KeepWhatYouEarn   Listen on your favorite podcast app: https://pod.link/1580071347   Instagram: https://www.instagram.com/shannonkweinstein/   The information shared is for educational purposes only and is not individualized financial advice. Aesthetics practice owners should consult a qualified professional before implementing financial strategies discussed here.  

This week, I'm turning the mic over to Audrey Neff, host of True to Form, and replaying the conversation she originally shared with her audience. Audrey put me in the hot seat with the financial questions medical spa owners need to be asking as they grow.  A full schedule can still produce weak cash flow, a second location can magnify problems that already exist, and a practice that depends on its owner for every decision will be difficult to scale or sell.  Audrey and I connect these issues by following the money from individual treatments through to the long-term value of the business. The Metrics Behind a Financially Healthy Med Spa  Free cash flow gives an owner choices. It can fund cash reserves, support a new location, reduce debt, or create an exit opportunity. Producing more of it requires a clear understanding of which treatments fill your schedule and which ones contribute meaningful margin.  In this episode, we discuss:  Why reviewing a P&L without interpreting it leaves owners with more numbers but very little direction  How revenue per hour, margin per treatment, patient retention, and customer lifetime value influence cash flow  Why injectables can bring patients through the door while leaving little room for profit when pricing, commissions, and discounts are poorly managed  How "Bed Bath and Botox" discounting cuts into an already thin injectable margin  The missed retail sales opportunities hiding inside treatment plans and patient conversations  Why a med spa should have four to six months of cash reserves before opening a second location  How to identify and reduce owner dependency by asking, "What breaks first when I leave?"  What buyers examine when calculating enterprise value, including cash flow, owner dependency, customer concentration, and operational risk  The Five-Part Financial Playbook  Here are the exact steps we use to evaluate a practice's financial health:  Core profit: Are your treatments priced to produce healthy margins?  Operating profit: Can your budget support the team and infrastructure required to run the practice?  Cash flow: What remains after your equipment, debt, taxes, and other obligations are paid?  Customer value: Are you retaining patients and increasing the value of those relationships?  Enterprise value: Can the practice continue producing reliable cash flow without depending on you?  Following the steps in order helps you identify the financial constraint that deserves your attention now instead of trying to fix everything at once. Get your free Playbook here. Add "True to Form" to Your Playlist  This conversation originally aired on Audrey Neff's True to Form podcast. Audrey brings candid conversations about leadership, operations, patient experience, growth, and enterprise value to the medical aesthetics industry.  If you own or lead an aesthetics practice, subscribe to both shows:  Subscribe to Keep What You Earn  Subscribe to True to Form  Get the free Financial Scaling Playbook for Aesthetics  Connect with Audrey and Aviva Aesthetics:  Audrey Neff brings more than a decade of experience in the medical aesthetics and wellness industries and currently serves as Chief Marketing Officer at Aviva Aesthetics. A respected marketing strategist and global speaker, she has served as a key opinion leader for several leading aesthetic brands and has taught for more than 30 medical aesthetic associations worldwide. Her thought leadership has been featured in publications such as PRIME Journal, The Aesthetic Guide, and PAN Journal. Audrey is also the host of True to Form, a globally ranked podcast exploring the people and ideas shaping the future of the aesthetics industry.  Website: https://avivaaesthetics.com/  True To Form podcast: https://www.instagram.com/truetoformpodcast/  Instagram: https://www.instagram.com/audreyneff_/  LinkedIn: https://www.linkedin.com/in/audreyneff/  Follow Shannon & Keep What You Earn:    Shannon Weinstein is the founder of a fractional CFO firm specializing in helping 7-figure aesthetics and wellness practices scale with clarity, cash flow, and confidence. She is committed to helping med spa owners understand, fix, and maximize their business's enterprise value, offering actionable advice and resources, including a popular free video series specifically for aesthetics practice owners.     Fractional CFO Services and Executive Financial Review: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein   Watch full episodes: https://www.youtube.com/@KeepWhatYouEarn   Listen on your favorite podcast app: https://pod.link/1580071347   Instagram: https://www.instagram.com/shannonkweinstein/   The information shared is for educational purposes only and is not individualized financial advice. Aesthetics practice owners should consult a qualified professional before implementing financial strategies discussed here. 

Marketing gets exhausting when every platform, conference, and industry trend comes with the message that your practice should be doing more. More posts, more videos, more channels, more events. But a high volume of marketing activity does not automatically lead to better clients or more profitable growth.  In this episode, I sit down with Robin Dimond, founder and CEO of Fifth & Cor, to talk about building a marketing strategy around the business you actually have. We cover how to choose channels based on your budget, bandwidth, and target demographic; when a personal brand helps or hurts the practice; and why reputation, local partnerships, and consistent patient education can outperform whatever happens to be trending online.  Fix the Patient Journey Before You Generate More Leads  Marketing brings more attention to whatever is already happening inside the practice. If calls go unanswered, the booking process is frustrating, or the team is not prepared to follow up with leads, spending more money will only expose those problems faster.  Look at the full patient experience before adding another campaign. Can someone easily book a consultation? Does the team know how to respond to inquiries? Are you attracting people who are a good fit for the practice? Strong marketing cannot make up for operational gaps that prevent interested patients from becoming long-term clients. Choose Marketing Channels With a Clear Reason Behind Them  You do not need to be active on every platform simply because another practice is doing it. The right marketing mix depends on who you want to reach, how they make decisions, and what your team can consistently manage. Budget planning also needs to account for time and energy—not just the money spent on ads or content creation.  Define what the marketing initiative needs to accomplish before choosing a channel  Identify where your target demographic spends time and what mindset they are in on each platform  Set a realistic budget for both financial investment and team capacity  Test one or two strategies on a small scale before expanding into omnichannel marketing  Batch and repurpose content across Instagram, TikTok, LinkedIn, YouTube Shorts, or Pinterest when those platforms fit the audience  Consider direct mail, local partnerships, conference attendance, and public relations alongside digital marketing  Track qualified leads, booked consultations, client acquisition costs, and patient retention instead of relying on views or engagement alone  Give the team a clear role in content creation and follow-up so the strategy does not depend entirely on the owner  Consistency matters, but it needs to be sustainable. A focused strategy that your team can maintain will usually produce better information and stronger results than constantly switching tactics or chasing the newest trend.  (00:03:42) Navigating an overwhelming number of marketing options (00:05:29) Fixing operational gaps before generating more leads (00:12:31) Understanding client mindsets across different platforms (00:17:27) Standing out with handwritten cards and direct mail (00:26:50) Building a sustainable social media strategy (00:30:16) Balancing personal branding with long-term business goals (00:43:37) Measuring marketing by results instead of effort  Your Practice Reputation Has to Extend Beyond the Owner  A personal brand can help patients connect with the practice, but it becomes a risk when every relationship, referral, and piece of recognition is tied to the owner. Bring providers and team members into the outward-facing side of the business so patients see the depth of expertise across the practice and trust the experience no matter who they see.  Sharing continuing education, patient education, community involvement, and team accomplishments builds a stronger reputation than relying on one personality alone. That matters when you want to add providers, reduce your clinical hours, or eventually sell, because a brand that can stand without the founder is much easier to scale. The Best Marketing Makes Growth Easier to Manage  When the strategy is focused, the financial reports become easier to interpret. You can see which channels produce qualified consultations, which local partnerships bring in the right patients, and whether your client acquisition costs make sense relative to the value of those relationships. Marketing stops feeling like an open-ended expense because every initiative has a purpose and a way to measure its performance.  As the practice grows, consistency matters more than constant visibility. A team-supported brand, a clear message, and a small group of channels that reliably attract the right clients are easier to manage and repeat across providers or locations. You should not have to spend every spare moment creating content just to keep the business moving. The strategy should support the practice without taking over your life.  Follow Shannon & Keep What You Earn:   Shannon Weinstein is the founder of a fractional CFO firm specializing in helping 7-figure aesthetics and wellness practices scale with clarity, cash flow, and confidence.  Shannon is committed to helping med spa owners understand, fix, and maximize their business's enterprise value, offering actionable advice and resources, including a popular free video series specifically for aesthetics practice owners.  Connect with Shannon: Fractional CFO Services and Executive Financial Review: https://www.keepwhatyouearn.com/  https://www.linkedin.com/in/shannonweinstein  Watch full episodes: https://www.youtube.com/@KeepWhatYouEarn  Listen on your favorite podcast app: https://pod.link/1580071347  Instagram: https://www.instagram.com/shannonkweinstein/  The information shared is for educational purposes only and is not individualized financial advice. Aesthetics practice owners should consult a qualified professional before implementing financial strategies discussed here.  About Robin Dimond:   Robin Dimond is the founder of Fifth & Cor. With more than 20 years of experience in branding, marketing, and innovation, she has helped businesses move from scattered ideas to clearer strategies across both corporate and entrepreneurial settings.  Her work is rooted in the belief that strong marketing requires more than data—it also requires purpose, courage, and a clear understanding of why people connect with a brand. Through Fifth & Cor, Robin brings people together, removes barriers to collaboration, and helps businesses grow through thoughtful strategy, authentic connection, and consistent execution.  Connect with Robin and Fifth & Cor:  Website: https://www.fifthandcor.com Email: [email protected] Instagram: https://www.instagram.com/fifthandcor  LinkedIn: https://www.linkedin.com/company/fifth-and-cor/  Facebook: https://www.facebook.com/FifthandCor 

Being booked feels like proof that the business is working. But if most of that schedule is filled with injectables, the revenue can look much stronger than the profit underneath it. Product costs, provider compensation, commissions, memberships, and discounting can leave very little behind—even when the calendar is full.  In this solo episode, I break down why injectables need to be evaluated as part of your full service mix instead of carrying the entire growth strategy. I also explain how to organize your P&L by treatment category, calculate what patients actually contribute in gross profit, and use comprehensive treatment plans to improve both patient retention and practice profitability. A Full Injectable Schedule Can Still Produce Weak Profit  Injectables are often one of the largest revenue categories in a medical aesthetics practice. They bring patients through the door, create recurring appointments, and can help establish long-term relationships. But with supply costs, injector compensation, commissions, and discounts factored in, gross margins may only land around 30% to 40%.  That does not leave much room to cover the rest of the business. Rent, administrative payroll, marketing, software, and other operating expenses still have to come out of what remains. When injectables dominate the schedule without enough higher-margin services around them, a busy practice can still struggle to generate healthy cash flow.  Your P&L Should Show Which Services Actually Make Money  A single revenue line labeled "services" does not give you enough information to manage the practice. You need to see how much revenue each treatment category produces and what it costs to deliver those services. Keep the categories simple enough to review consistently, but specific enough to reveal where your profit is coming from.  Group revenue into four or five core categories, such as injectables, aesthetic services, beauty services, laser treatments, and surgical services  Match each category with its direct supply costs, provider labor, and commission expenses  Calculate gross margin by treatment category instead of relying only on the practice-wide average  Separate package revenue collected from the revenue earned as treatments are delivered  Compare patient lifetime revenue with the gross profit that patient generates  Review how memberships and discounts affect margins over time  Track which services lead to repeat visits and broader treatment plans  You do not need dozens of categories or an overly complicated financial report. You need enough visibility to understand the composition of your revenue. Just as body composition tells you more than weight alone, your service mix tells you far more than total sales.  (00:00:00) Why injectables are difficult to price (00:05:41) Balancing the P&L with service margins (00:08:27) Mapping revenue and profit by treatment (00:10:27) Calculating patient lifetime value (00:14:01) Challenging assumptions about patient budgets (00:17:42) Improving retention through treatment plans  Treatment Plans Create More Value Than One-Off Appointments  Patients may come in asking for Botox or another familiar service, but that does not mean they understand every option available to them. A strong consultation starts with the result they want, then maps out the treatments that can realistically help them get there. Present the full recommendation before making assumptions about what they can afford. Let the patient decide what to pursue, what to postpone, and how quickly to move through the plan. That is consultative selling: educating the patient, setting expectations, and helping them make an informed decision without down selling for them.   A written treatment plan also gives the relationship room to grow. One injectable appointment can become the start of a longer patient journey that includes laser treatments, skincare, and other services that genuinely support their goals.  A Stronger Service Mix Makes Growth More Sustainable  When one treatment category carries too much of the practice, changes in product costs, provider capacity, or local pricing can quickly put pressure on the entire business. A more balanced service mix combines the retention benefits of injectables with treatments that produce stronger margins and make better use of the team, equipment, and space you already have. This gives you a healthier patient lifetime value, more recurring revenue, and a clearer picture of what the practice can support as it grows. It also helps you make better decisions about pricing, inventory, staffing, equipment purchases, and future expansion.  A full schedule should create more than activity. It should generate enough gross profit to fund the next stage of the practice. Follow Shannon & Keep What You Earn:   Shannon Weinstein is the founder of a fractional CFO firm specializing in helping 7-figure aesthetics and wellness practices scale with clarity, cash flow, and confidence.  Shannon is committed to helping med spa owners understand, fix, and maximize their business's enterprise value, offering actionable advice and resources, including a popular free video series specifically for aesthetics practice owners.  Connect with Shannon:  Fractional CFO Services and Executive Financial Review: https://www.keepwhatyouearn.com/  Connect with Shannon: https://www.linkedin.com/in/shannonweinstein  Watch full episodes: https://www.youtube.com/@KeepWhatYouEarn  Listen on your favorite podcast app: https://pod.link/1580071347  Instagram: https://www.instagram.com/shannonkweinstein/    The information shared is for educational purposes only and is not individualized financial advice. Aesthetics practice owners should consult a qualified professional before implementing financial strategies discussed here.

When growth slows down, the default response for many med spa owners is to spend more on marketing. The problem is that marketing rarely fixes operational issues, weak conversion rates, or poor retention. In many cases, it simply amplifies them.  Today, I walk through the ten metrics, systems, and financial strategies every practice should understand before investing another dollar into advertising. These are the foundational pieces that determine whether your marketing spend generates profitable growth—or simply becomes a more expensive way to create the same problems. More Leads Won't Fix a Broken Funnel  I often see med spa owners assume that growth just comes from generating more leads. But if leads aren't converting, marketing isn't the problem. Before increasing ad spend, understand your conversion rate, lead follow-up speed, and appointment capacity. If prospective patients aren't being contacted quickly, if inquiries aren't becoming consultations, or if your schedule can't support additional demand, more marketing only creates more inefficiency.   Growth becomes much easier when you improve what happens after a lead enters the system.  Marketing Decisions Should Be Driven by Financial Data  Every marketing strategy should start with understanding the numbers behind the business.  • Know your customer acquisition cost (CAC) • Track your average client lifetime value (LTV) • Understand which services produce the strongest profit margins • Identify your most profitable lead sources • Measure gross profit, not just revenue • Monitor rebooking appointments and client retention  Without these financial vital signs, it's difficult to know whether a marketing campaign is actually creating value or simply generating activity. Retention Is Often More Valuable Than Acquisition  The fastest path to maximizing revenue isn't always finding new patients. Often, it's creating more value from the patients you already have.  Strong treatment plans, consistent rebooking, upselling services appropriately, and structured follow-up systems all improve lifetime value while reducing dependence on paid advertising. A patient who returns multiple times is significantly more valuable than a patient who visits once and disappears.  That's why the most effective marketing strategies don't stop at acquisition. They support the entire customer journey.  Stop Paying for Growth You Could Earn Organically  Many med spas overlook two of the most cost-effective growth tools available: clear positioning and a structured referral system. Patients are far more likely to refer friends and family when they understand what makes your practice different and consistently receive an exceptional experience. Referrals often represent the closest thing to zero-CAC growth available in a med spa business.  Before increasing your Google Ads budget or launching another campaign, make sure your offer is clear, your systems are working, and your referral network is active.  The practices that scale most efficiently aren't always the ones spending the most on marketing. They're the ones that understand their numbers, optimize their operations, and make data-driven decisions before adding more fuel to the fire.  Follow Shannon & Keep What You Earn:   Shannon Weinstein is the founder of a fractional CFO firm specializing in helping 7-figure aesthetics and wellness practices scale with clarity, cash flow, and confidence.  Shannon is committed to helping med spa owners understand, fix, and maximize their business's enterprise value, offering actionable advice and resources, including a popular free video series specifically for aesthetics practice owners.  Connect with Shannon:  Fractional CFO Services and Executive Financial Review: https://www.keepwhatyouearn.com/  Connect with Shannon: https://www.linkedin.com/in/shannonweinstein  Watch full episodes: https://www.youtube.com/@KeepWhatYouEarn  Listen on your favorite podcast app: https://pod.link/1580071347  Instagram: https://www.instagram.com/shannonkweinstein/   The information shared is for educational purposes only and is not individualized financial advice. Aesthetics practice owners should consult a qualified professional before implementing financial strategies discussed here.

Many med spas spend heavily on attracting new patients while overlooking one of the biggest growth opportunities already inside the practice: the existing patient base. Sustainable esthetic practice growth doesn't come from acquiring more patients alone—it comes from creating an experience that keeps them coming back.  In this episode, I sit down with Abby Honaker, President of Partner Success at Pink Sky, to discuss how practice owners can improve patient retention, strengthen provider accountability, and create systems that support long-term growth. We talk about everything from provider utilization and compensation structure to treatment plans, patient outreach, and building a service experience that drives loyalty.  Every Patient Interaction Should Move the Journey Forward  One thing I constantly see is that medical aesthetics is failing to maximize each patient interaction. Whether it's recommending skincare, discussing future treatments, or helping a patient understand their long-term goals, every touchpoint is an opportunity for education and deeper engagement.   The strongest practices don't treat visits as one-time transactions. They create intentional patient journeys with clear next steps, personalized care plans, and a consistent service experience that encourages rebooking and patient loyalty.  When patients understand where they're going next, retention and revenue improve.   Retention Is Built Through Systems, Not Hope  Patient retention isn't accidental. It comes from clear processes, team training, and data-driven decisions.  • Train providers and front desk teams on every service offered • Use targeted marketing and patient outreach to reactivate inactive patients • Build treatment plans that extend three, six, or nine months into the future  • Track rebooking rates and provider utilization regularly • Create membership programs that support long-term engagement • Standardize scripts to improve consistency across the patient journey  The practices that maximize revenue are often the ones that create predictable systems around the client experience.  Providers Should Be Advisors, Not Order Takers  Patients don't come to your practice because they're experts in treatment planning. They come because you are. That means providers should confidently recommend the care they believe will produce the best outcome rather than allowing patients to "order off the menu." Whether it's upselling skincare, integrating wellness services, or recommending additional treatments, education is part of delivering high-quality care.  Avoid making assumptions about what patients can or cannot afford. Present the best recommendation, explain the value, and allow the patient to decide what works for them. Data Creates Better Decisions—and Better Outcomes  Successful med spa practices combine exceptional care with strong operational discipline.    As your med spa scales, creating a profitable exit—or simply building a more sustainable business—depends on having systems that support both the patient experience and financial performance. The goal isn't simply to add more services. It's to build a practice where every touchpoint strengthens loyalty, improves outcomes, and supports long-term profitability.  Follow Shannon & Keep What You Earn:   Shannon Weinstein is the founder of a fractional CFO firm specializing in helping 7-figure aesthetics and wellness practices scale with clarity, cash flow, and confidence.  Shannon is committed to helping med spa owners understand, fix, and maximize their business's enterprise value, offering actionable advice and resources, including a popular free video series specifically for aesthetics practice owners.  Connect with Shannon: Fractional CFO Services and Executive Financial Review: https://www.keepwhatyouearn.com/  Connect with Shannon: https://www.linkedin.com/in/shannonweinstein  Watch full episodes: https://www.youtube.com/@KeepWhatYouEarn  Listen on your favorite podcast app: https://pod.link/1580071347  Instagram: https://www.instagram.com/shannonkweinstein/  The information shared is for educational purposes only and is not individualized financial advice. Aesthetics practice owners should consult a qualified professional before implementing financial strategies discussed here.  About Abby Honaker:  Abby Honaker is an aesthetics, wellness, and longevity strategist with more than 25 years of experience building and scaling healthcare businesses. Since 1998, she has worked across multiple sectors—including plastic surgery, dermatology, chiropractic, dental, aesthetics, wellness, and fitness—bringing a unique blend of clinical expertise and operational leadership to every stage of growth.  A business graduate with more than 40 certifications spanning nutrition, health coaching, personal training, and athletic performance, Abby Honaker has launched multiple wellness clinics, helped lead her family's dental practices, and opened her own med spa after becoming a Master Aesthetician and Laser Technician.  Having served in nearly every role within a practice—from provider and patient coordinator to brand manager, owner, consultant, and marketing lead—Abby Honaker specializes in helping clinics optimize operations, improve profitability, and scale sustainably. She is known for implementing modern growth systems, including AI-enabled operations, technology integrations, SOP development, and revenue strategies that support both expansion and successful exits. Connect with Abby:  Instagram: https://www.instagram.com/abby_honaker/  LinkedIn: https://www.linkedin.com/in/abby-honaker-38bb1775/  Website: https://pinksky.life/ 

Patient financing has become increasingly popular in medical aesthetics, especially during economic slowdowns and seasonal dips in demand. The problem is that many practices treat financing as a solution to slow sales when it should be treated as a financial tool.  In this episode, I talk about where financing fits into a healthy med spa growth strategy, when it makes sense to offer financing options, and how to avoid the margin erosion that often comes with poorly structured financing programs.  Financing Should Support Value—Not Replace It  One of the biggest misconceptions I see is the belief that financing creates demand. However, offering payment plans won't solve the underlying problem of a potential patient misunderstanding the value of or not seeing the value in a treatment.  Financing works best when the value proposition is already clear and the patient simply needs more flexibility around affordability. When teams lead with financing too early, they often skip the more important conversation around outcomes, results, and treatment benefits. Over time, that can weaken pricing power and train patients to focus on monthly payments instead of value.  The Right Way to Offer Financing in Your Med Spa  Financing can be a useful tool when it's applied selectively and supported by clear policies.  • Reserve financing options for high-ticket services with healthy margins • Set minimum spend thresholds before financing becomes available • Use financing for treatments like body contouring, laser packages, hair restoration, skin tightening, and surgery financing • Avoid financing low-ticket services or already discounted treatments • Understand financing fees and how they impact practice margins • Train staff to sell value first and financing second • Monitor financing usage as part of regular executive financial reviews  The goal is to use financing to accelerate a demand that already exists—not to compensate for weak sales strategy or pricing issues.  Protecting Margins While Improving Affordability  Every financing option comes with a cost. Depending on the provider, financing fees can significantly reduce profitability, especially on treatments with tighter margins.  Before implementing a financing policy, understand exactly how those fees affect cash flow, treatment profitability, and overall financial performance. If financing is reducing margins more than it's increasing revenue, it's working against the business.  As Your Practice Grows, Financing Offers Require Clear Boundaries  The most successful practices use financing selectively. They understand which services can support financing costs, train their teams consistently, and monitor financing usage as part of regular financial reviews.   When financing is aligned with profitability goals, it can improve affordability and support growth. When it becomes the default answer to every price objection, it often creates more financial and operational challenges than it solves.  Follow Shannon & Keep What You Earn:   Shannon Weinstein is the founder of a fractional CFO firm specializing in helping 7-figure aesthetics and wellness practices scale with clarity, cash flow, and confidence.  Shannon is committed to helping med spa owners understand, fix, and maximize their business's enterprise value, offering actionable advice and resources, including a popular free video series specifically for aesthetics practice owners.   Fractional CFO Services and Executive Financial Review: https://www.keepwhatyouearn.com/  Connect with Shannon: https://www.linkedin.com/in/shannonweinstein  Watch full episodes: https://www.youtube.com/@KeepWhatYouEarn  Listen on your favorite podcast app: https://pod.link/1580071347  Instagram: https://www.instagram.com/shannonkweinstein/  The information shared is for educational purposes only and is not individualized financial advice. Aesthetics practice owners should consult a qualified professional before implementing financial strategies discussed here.