Plastic surgeons today face a unique set of challenges, from changing patient demographics to increased competition in the marketplace. In this podcast episode, Plastic Surgery Practice Editors Keri Stephens and Alison Werner talk to Nicole Chiaramonte, CEO of Advanced MedAesthetic Partners (AMP). Chiaramonte joins them to discuss how AMP can help plastic surgeons overcome these challenges and grow their practices. What’s more, she explains why AMP is an alternative to the private equity consolidation model sweeping the industry.
AMP works as a management service organization, coming in, as Chiaramonte describes it, as a consulting firm of sorts to take care of the business side of running a medical practices—specifically those aspects doctors often don’t want to deal with or don’t feel they have the knowledge to handle effectively and efficiently. According to Chiaramonte, AMP takes care of HR, IT, marketing, and overall day-to-day management, including inventory systems and data management for its partner practices. As she explains, AMP allows “physicians to do what they love without the headache of the business side of medicine.”
In this episode, Chiaramonte talks about how private equity is changing the playing field, and how she wanted to create a model that protects private plastic surgery practices. As she explains it, Advanced MedAesthetic Partners partner practices retain their public-facing identity. AMP’s goal is optimize the business side, investing heavily in marketing and training, while allowing the plastic surgeon to focus in on what he/she knows best: clinical treatment.
As Chiaramonte explains it in this podcast, for plastic surgery practices looking to partner with Advanced MedAesthetic Partners, the key characteristics include a commitment to patient satisfaction, a willingness to adapt to changing market conditions, and a desire to grow and scale their business over the long term. She also explains how this model can be just as attractive to mid-career plastic surgeons as those at the beginning and end of their careers.
From there, Chiaramonte shares how AMP has helped partner practices scale up their business. That has included adding additional surgeons to fully book out the practice to building out a practice’s non-surgical recurring revenue opportunities. Chiaramonte also shares how AMP can help practices struggling with staffing—a problem affecting all of healthcare.
To close out the episode, Chiaramonte and PSP’s editors talk about trends and how the industry is evolving. And Chiaramonte explains the role she sees Advanced MedAesthetic Partners playing in the future.