Is plastic surgery recession proof?

[eclcell]

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I was just wondering if plastic surgeons notice a decrease in their business when the economy does poorly. I figure that many of the people that chose to have plastic surgery have the ability to afford it regardless of the economy. As a result there would not be much of noticable effect. Just curious.

 

[BlondeDocteur]

I assume you're talking about cosmetic surgery?

No. In New York and LA, it more or less is, assuming you're good. People here are wealthy enough to ride out any storm. But aesthetic surgeons have very effectively democratized themselves, marketing their services to the middle class (what with accepting credit cards, payment plans and the like). Those patients will certainly forgo their tummy tuck or brow lift when squeezed. There have been lots of articles in the popular press about this already.

Someone in private practice will likely have a battlefield perspective on this.

 

[JaggerPlate]

I was just wondering if plastic surgeons notice a decrease in their business when the economy does poorly. I figure that many of the people that chose to have plastic surgery have the ability to afford it regardless of the economy. As a result there would not be much of noticable effect. Just curious.

This is obviously just my opinion, as I have no experience to back it up ... but I would think that cosmetic surgery has come to a point where it is no longer exclusive to movie stars and the uber rich. A lot of 'common folk' are undergoing cosmetic procedures now a days, and - in the same sense that a middle class working man isn't going to buy that corvette he's wanted forever during harsh economic times, the soccer mom isn't going in for that lift during a recession either. However, there are still the Beverly Hills patients who aren't affected by economic drawbacks and can still schedule the procedures, but if your practice is 75% everyday folks getting their one time procedure and 25% repeat riches ... your business is still slashed at the moment. It's not like your closing up shop, but definitely not the same flow as two years ago.

 

[Gozar]

for a long time patients have been financing cosmetic surgery in the same way that they have been financing cars and vacation homes. look at the advertising for lunch time facelifts/lasik. sometimes they blatantly advertise no down, "low" apr loans to finance surgery. the cheap credit that a lot of people have been using to do this is now gone. it simply does not exist.

 

[maxheadroom]

No, cosmetic surgery is not recession proof. Even the very high-end, in-demand cosmetic guys have made comments at meetings and in the traditional media (see NY Times article about a month ago) that their waiting lists are shrinking and that patients are putting previously planned work off. An acquaintance of mine commented recently that he's suddenly working hard to get the breast recon consults that he'd previously been less than interested in. Why? He's getting fewer and fewer cosmetic patients. The earlier mention of cosmetic surgery be financed with cheap credit is very true -- lots people were putting boobs on their Mastercard.

This applies to any field -- if you're a one-trick-pony, you'd better make sure that trick will last. In PRS you'd better keep your recon ties going unless your name is Baker, Stuzin, or Maxwell.

 

[droliver]

In PRS you'd better keep your recon ties going unless your name is Baker, Stuzin, or Maxwell.

Actually, Pat (Maxwell) is still doing breast reconstruction, which is straight from the horses' mouth when I talked to him last week.

Plastic Surgery is DEFINATELY not recession proof. There are a lot of practices really struggling right now to meet overhead. Personally, I haven't been affected so much as my practice at this stage is 3/4 insurance based and I do a lot of cancer surgery and breast reconstruction. Even for general plastic surgery cases (breast reduction, etc...) the expense of people's deductibles might be making people defer elective surgical procedures.

 

[maxheadroom]

I didn't know that Maxwell still did recon -- I guess I figured most of his time was spent on breast revisions.

See gang? A word from the wise Dr. Ollie.

 

[radslooking]

No, cosmetic surgery is not recession proof. Even the very high-end, in-demand cosmetic guys have made comments at meetings and in the traditional media (see NY Times article about a month ago) that their waiting lists are shrinking and that patients are putting previously planned work off. An acquaintance of mine commented recently that he's suddenly working hard to get the breast recon consults that he'd previously been less than interested in. Why? He's getting fewer and fewer cosmetic patients. The earlier mention of cosmetic surgery be financed with cheap credit is very true -- lots people were putting boobs on their Mastercard.

This applies to any field -- if you're a one-trick-pony, you'd better make sure that trick will last. In PRS you'd better keep your recon ties going unless your name is Baker, Stuzin, or Maxwell.

quotable

 

[bananamed]

Nothing is recession proof.

Even Hugh Hefner lost his prized employees, err, girlfriends in the wake of the economic crisis.

Fortunately for him, he found solace in a pair of twins the following week.

 

[Long Dong]

Even Hugh Hefner lost his prized employees, err, girlfriends in the wake of the economic crisis.

Fortunately for him, he found solace in a pair of twins the following week.

He is the man, traded in 3 of his older ones for 2 of the latest model.

 

[JaggerPlate]

He is the man, traded in 3 of his older ones for 2 of the latest model.

and they are twins!!!


Moral of the story ... don't go into PRS to pick up girls, start a dirty magizine empire. Much easier

 

[NJA61479]

I am a resident in southern california and have seen first hand how plastic surgery is not recession proof. I think that the only surgeons who are still steadily busy in the area are the big name and well rooted plastic surgeons. All others are losing business with the downsloping economy. As evidence I will tell you what I am seeing. First of all the residents in my program who are on the cosmetic services are home by 2PM or earlier every day and have occasional days off since there is nothing to do. Secondly more plastic surgeons who did mostly cosmetic stuff are looking to take burn call. Thirdly the plastic surgery residents who graduated from my program last year are taking ER call and moonlighting to pay the bills. This goes to show that nothing is recession proof. Well except for doctors who actually take care of sick patients.

 

[Llenroc]

Good news. Medicine is recession proof. People get sick regardless of economic cycles, and the way medicine is funded by insurance company and government obligations ensure a more steady salary for physicians.

Oh woops, that's all those other types of medicine. Plastic surgery is the one type of medicine for which this doesn't apply. You see, getting a set of fake tits is exactly the kind of marginal expense that people cut back on during tough economic times. Hard to believe isn't it, that they would take little Johnny to the doctor for asthma but not get liposuction for his Mom when money is hard to come by.

 

[GSresident]

If your practice is primarily cosmetic in nature you will be taking a hit right now. If you are smart you'll do your best to build and maintain a reconstructive referral system. You can make an awesome living on reconstructive cases and they just keep coming. You will still have plenty of time to do all of the cosmetic surgery that walks into your door. If I had to guess I would say that my practice is 95% reconstructive right now but I just started in July. I doubt I'll get a ton of cosmetics until our economy brightens up a bit but I'm doing just fine economically.

 

[JaggerPlate]

If your practice is primarily cosmetic in nature you will be taking a hit right now. If you are smart you'll do your best to build and maintain a reconstructive referral system. You can make an awesome living on reconstructive cases and they just keep coming. You will still have plenty of time to do all of the cosmetic surgery that walks into your door. If I had to guess I would say that my practice is 95% reconstructive right now but I just started in July. I doubt I'll get a ton of cosmetics until our economy brightens up a bit but I'm doing just fine economically.

Wow 95% reconstructive in private practice, impressive. I've heard stories around the boards of PRS guys basically turning down recon work left and right for cosmetics when the economy was good and now are begging to get the reconstruction. It's cool you were able to find such a good balance.

 

[GSresident]

It isn't like I am out there advertising for reconstructive. If you are willing to do it and no one else is, the patients show up. I am advertising for cosmetic surgery but it takes a while to build that business, especially when the economy is in the crapper. I'm not claiming a 95% reconstructive practice like it is a virtue. I would be just as happy with a 95% cosmetic practice and I would love to have that business but it is slow to develop.

 

[deleted144060]

I'm currently in Southern Cal and I can tell you the private guys are having problems. It it's any indication, they're competing with us (I'm in an academic practice) for medicare patients. My partner got a call from a community plastic surgeon wanting to know how big his margin should be for a particular skin cancer. The good news for us that we're still busy and still able to pay the bills. And....some of the "dumps" we got from other hospitals have stopped coming in.

 

[GSresident]

It it's any indication, they're competing with us (I'm in an academic practice) for medicare patients.

Ouch. Trying to steal low pay patients from the University? Next thing you know they will be driving a used pickup like me. 🙂

 

[DrDre311]

Ouch. Trying to steal low pay patients from the University? Next thing you know they will be driving a used pickup like me. 🙂

I'll join that club...here's to plastic surgeons driving used pickups!

 

[GSresident]

I'll join that club...here's to plastic surgeons driving used pickups!

ROFL. I thought I was the only one doing that. I will say though that since Obama got elected my cosmetic business has picked up markedly. I commented on it at the time wondering if it was just a blip but the trend has continued. There are 2 potential reasons for this I think:
1) People feel better about the direction things are going.
2) People are thinking that Obama will take from 'the rich' and give to the proceeds to them.

I guess we'll see.

 

[Wise Sage]

Google "Bernie Madoff" and Victims. For the wealthy I think the problem has to do with trusting your money to thieves.

Maybe psychiatry is the better specialty.

 

[Long Dong]

Google "Bernie Madoff" and Victims. For the wealthy I think the problem has to do with trusting your money to thieves.

Maybe psychiatry is the better specialty.

dudes name should be Made Off with some cheese. Well at least skin cancer doesn't go out of style we still got 3 month waits for mohs maybe will send you guys some more repairs.

 

[BlondeDocteur]

No joke... it's cosmic justice that his name has such a perfect homonym.

As an aside... my fiance gets to prosecute him. Very proud. 🙂