APX customers now have access to aggregated and validated national, state, and local benchmarking datasets from the aesthetic industry.
APX by Terri Ross, a business intelligence cloud platform built to accelerate the growth of aesthetic practices through on-demand employee training modules, financial algorithms, KPI calculators, and integrative marketing dashboards, has formed a strategic partnership with Ronan Solutions to provide exclusive benchmarking data to the medical aesthetics industry. According to the company, the new comprehensive data information is an aggregated, de-identified set of aesthetic data provided by hundreds of aesthetic practices and medical spas across different specialties from as far back as 2000.
Plastic surgeons, medical spa owners, cosmetic dermatologists, nurse practitioners and physician assistants can now access proprietary local, state and national benchmarking data needed to perform the competitive market analysis, that helps grow an aesthetic practice. This data is available through the ‘GAUGE’ module within the APX platform.
The data information is validated as it is pulled straight from practice management software systems versus the survey-based, ad-hoc data that is available currently. Ronan Solutions is formatted to offer meticulously standardized and organized data to allow likewise comparisons (apples to apples) between all different types of practices and specialties.
In addition, the data is updated regularly to show the trends within the industry on different levels—both surgical and nonsurgical, and is broken down by products and service categories like injectables, toxins, fillers and energy-based treatments. The system also has the ability to show trends on how patient behavior is changing, which products are being used most, which ones are being discarded, and which devices are the most efficient.
“We have always respected Terri Ross as a thought-leader in the industry, but what stood out to us was her forward thinking in realizing the old ways of doing things were no longer working in the current market,” said Barry Fernando, MD, plastic surgeon and chief executive officer of Anzu Medical/Ronan Solutions. “Virtual education, virtual delivery and virtual decision-making is the future of the business side of aesthetics medicine. So incorporating our dataset as a key component in the APX platform made perfect sense.”