New York Plastic Surgeons See Growth Despite Economic Turbulence
New York Plastic Surgeons See Growth Despite Economic Turbulence
New York Plastic Surgeons See Growth Despite Economic Turbulence
AESTHETIC NEWS
Different types of plastic surgery procedures parallel different kinds of economic indicators, according to research published in the June issue of Plastic and Reconstructive Surgery, the official medical journal of the American Society of Plastic Surgeons.
If the stock market is doing particularly well, people tend to elect to have more expensive procedures like breast augmentations or facelifts. On the other hand, minimally invasive procedures tended to trend up or down along with disposable income. While these results may not be surprising, it may be a sign that some plastic surgeons should diversify their practices to include both types of surgery if they haven’t already.
Dr. Thomas W. Loeb is a premier New York plastic surgeon who offers everything from rhinoplasty to tummy tucks to Botox in NYC.
Researchers looked at data regarding plastic surgery clinic revenue from 2000-2011, a particularly “turbulent” economic time, including both recession and stagnation. Despite rocky times for American businesses and citizens, the market for aesthetic procedures climbed 20 percent over the 11-year period. Revenue from this type of plastic surgery trended upward along with the Dow Jones Industrial Average and Standard & Poor’s 500 index.
Dr. Loeb has been performing all of these aesthetic enhancements and more for more than 25 years.
“As long as people desire looking their very best and the increased confidence that cosmetic surgery affords, we will continue to see an increase in this area of plastic surgery,” says Dr. Loeb.
Even more astounding has been the growth in minimally invasive aesthetic procedures, like soft tissue fillers and Botox. In 2000, these procedures comprised 30 percent of total plastic surgery business. In 2011, minimally invasive procedures accounted for 50 percent of all business.
The 200 percent increase in revenue generated by minimally invasive procedures has increased along with rising disposable income, increases in home values, and real gross domestic product, say researchers. As people become more productive, they look to spend the fruits of their labor on minimally invasive aesthetic treats.
“The safety and efficacy of these procedures have been proven over time,” Dr. Loeb explains. “More and more people know someone who has had a dermal filler or got a Botox injection on their lunch break. These procedures are not only safe, but affordable too. The effects are less permanent, so people are more willing to give them a try – and keep coming back when they like what they see.”
Over the past decade, the profitability of aesthetic plastic surgeries has diminished 10 percent, due to increased competition among the best plastic surgeons in New York and elsewhere.
UCLA researchers found that New York has one of the highest densities of plastic surgeons, with 34 percent more practitioners than in Texas; as a result, the fees for New York plastic surgeons are 30 percent lower than the fees in Texas. Despite the disparity in average cost, the demand for aesthetic procedures remains high.
“These trends represent good news for clients all around,” says Dr. Loeb. “There is no financial incentive for plastic surgeons to push bigger, more invasive procedures that may not be necessary. As the data shows, minimally invasive procedures are becoming a bigger part of a plastic surgeon’s business. My job is to listen to a client’s vision and find the best possible solution for the individual, whether it’s Botox or a facelift.”
Individuals who are interested in a fresher, younger, natural appearance can contact the office of Dr. Loeb at 212-327-3700 for a confidential consultation.
