Warren B. Seiler III, MD
John Di Saia, MD
Beatriz H. Porras, MD
Shervin Naderi, MD, FACS
Edward Zimmerman MD
Paula Di Marco Young, BS RN
Seth A. Yellin, MD FACS
Dr. Kevin D. Light
Stephen Weber MD PhD
Brian K. Sidella
Sabine Zenker, MD
Daniel Kaufman MD
Brian Howard MD FACS
Mickey A. Couvertier
Lila Bratani MD
Alex Denes MD FACP
Saturday
Aug082009
4 Comments10% excise tax on medical spa treatments?
For those of you that have not yet heard, there is talk of a 10% federal excise tax on all cosmetic medical procedures, from Botox and fillers to lasers, surgery, and cosmetic dentistry. This provision is being considered in one version of the house health care bill, and would be ruinous to cosmetic medicine as we know it.
Please voice your opposition by directly and personally contacting your elected representatives! For more information, and to sign an online petition, visit www.stopbotax.org
from Mike Nayak, MD
Reader Comments (4)
While I certainly do not agree with this legislation, I feel the need to point our that most physicians in cosmetic medicine actually do more financial harm to themselves than this tax would, by severely discounting their services, "competing on price" by slashing their prices.
To offset any potential taxes, physicians simply need to find effective ways to differentiate themselves from their competitors, making themselves immune from "price shopping", and they would enjoy significantly greater profits, charging full price for cosmetic procedures. What a novel idea! :)
They could then offer to pay the tax on behalf of their patients. SO the net effect is that this actually could be a good marketing tool, but of course the question is "how to differentiate" properly so that you aren't competing on price. It's not difficult, it just requires some forethought, marketing savvy, positioning within the marketplace, and the use of direct response marketing.
First, I think this is just another money grab by a greedy, out of control congress...blah, blah, blah. But to think that a 10% tax would be ..."ruinous to cosmetic medicine as we know it"....I DON"T THINK SO. I'd be willing to bet that once most people have made the psychological, emotional decision to have a procedure done, 10% price difference one way or the other wont make much difference. This is not to say that I agree with the tax...but that's a whole nother discussion.
Wayne
To offset any potential taxes, physicians simply need to find effective ways to differentiate themselves from their competitors, making themselves immune from "price shopping", and they would enjoy significantly greater profits, charging full price for cosmetic procedures.
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