There’s a new payment platform in town, and it claims to benefit both patients and physicians. HintMD (the same name as the company) is a monthly aesthetic subscription service that cosmetic surgery practices can use to provide patients with personalized skincare and in-office treatments at affordable prices.
“Our proprietary software turns a physician’s prescribed treatment plan into an easy monthly subscription for the patient,” says CEO Aubrey Rankin, who cofounded the company in 2014.
The company’s two-year beta study of over 50 practices and 6,000 patient members “…proved that aesthetic subscriptions can increase patient compliance, retention and loyalty at a practice,” Rankin tells The Aesthetic Channel.
Specifically, the study’s data for aesthetic subscriptions showed a two-fold increase in patient visits annually, 72% cross-sell to a dermal filler, a $200,000 increase in annual revenue per practice and 98% patient satisfaction.
An average treatment plan costs a patient roughly $171 per month, which includes a neuromodulator like Botox or Dysport, a filler, skincare or other aesthetic treatments.
A higher or lower monthly fee correlates to the types of services and products on a patient’s personalized treatment plan, as prescribed by the physician. “For example, a physician might recommend filler every six months for a patient that wants lip augmentation, at $99 per month,” Rankin says. “That same patient might add Botox or skincare to their treatment plan, which would increase the monthly cost.”
Physicians can input individual treatment plans by product, unit and frequency.
Patient anxiety is also eliminated at checkout by allowing customers to pay for their treatment plan in easy monthly subscription payments.
Furthermore, patients have access to current and future treatment plans as outlined by their doctor, which is visible to the patient within an app. With the app, patients are able to schedule follow-up appointments and physicians are able to send reminders for follow-up appointments, based on their recommendations. Plus, doctors can recommend additional treatments to the plan, such as hydrafacials or skincare products.
HintMD is currently being rolled out nationwide. “We cannot wait to see aesthetic subscriptions transform even more practices,” Rankin says. “The service is truly creating better business outcomes for physicians and better clinical outcomes for patients.”