You probably know there is a major demand for regenerative services right now. It’s possible that you’ve heard impressive numbers like the global regenerative medicine market being estimated at $35.82 billion in 2024, and projected to grow to $154.05 billion by 2033. Clearly, the demand exists.
But is it right for your practice? Is there a demand among your clients? What would it take to get your staff trained and your facilities up and running?
We were recently lucky enough to take part in a webinar with Kim Look, Chief Innovation Officer at MedMasters. She has been intimately involved with functional medicine for over twelve years, specializing in IV therapy. This means she has worked with hundreds of doctors nationwide to build their IV space and grow their businesses.
The webinar was called, How to Elevate an IV Room with Regenerative Services. In 60 quick minutes, Look walked us through where the IV regenerative services market is going, and how practices can get ahead of the curve. She also discussed some of the most common questions she hears from practice owners.
Here are some of the key points she covered.
Practice owners have to ask this question any time their business faces a potential game-changing innovation. You may ask, “Is this really worth our time and our investment right now? Or will we look back on this in 5 years and regret it?”
“If you don't start this thought process now, and start to integrate this stuff now, you're going to see a franchise doing this on the corner of your street in five years,” said Look, with conviction.
“It is definitely coming. It's definitely needed. It's definitely warranted. It's definitely wanted.”
In particular, Look said she’s seen exciting growth and results in Ozone/UV (O3UV) combination treatments and the more advanced treatment, EBOO.
“These can really set you apart… Just with MedMasters and our team, we've trained or placed 160 machines, in 36 countries, all 50 states. There have been 16,000 procedures completed. We're getting enormous amounts of data on this.”
Look also pointed to celebrities like LeBron James, Daymond John, and Danica Patrick recently posting videos about their treatments as proof the market is growing.
This is obviously a huge question for any practitioner, and it’s one that Look is accustomed to answering.
“Conventional medicine often focuses on managing conditions and alleviating symptoms. We do it differently. Regenerative medicine is able to focus on current science, whereas conventional medicine is at least 20 years behind.”
“We're definitely using regenerative medicine to revolutionize modern healthcare. It's simple. It's utilizing the body's own repair mechanisms to heal tissues and organs.”
To learn more and delve into the particulars of the science, Look suggests looking up the many articles on Google Scholar on regenerative medicine and IV treatments. Or you can discuss case studies during a free 15-minute virtual consultation.
Look feels strongly that your staff training strategy and your implementation strategy are the pillars that your success will be built on. She has personally witnessed a number of clinics that added a regenerative treatment IV room with the best of intentions. However, they didn’t have a strong plan to train their staff and ensure patient engagement, so their efforts fell flat.
“There's this real challenge with practitioners who learn the information, they understand the modality that they're using. Oftentimes they can afford to purchase it, but the implementation falls apart,” said Look.
“The breakdown happens once they bring it into their office. You need to consider how you will talk about it with your patients. How do you get your staff trained? How do they feel comfortable with it? If you can't really hit the mark with these, you won't be successful.”
This includes preparing things like your standard operating procedures, consent forms, and other documentation well in advance of offering these services. At the same time, your staff training needs to extend beyond just techniques and treatment plans.
“Troubleshooting and critical thinking are also crucial. It's one thing to follow a process and a procedure. You need critical thinking to determine when to cut it off, when to change it, when to assess it differently, and so forth. You want to have those A+ skills so that you can guarantee your implementation success.”
Scaling your business is always a challenge. Whether you’re looking to add new staff or add new services, you always want to approach it thoughtfully and strategically.
When considering adding an IV room for regenerative services, Look recommends starting off small.
“I would start with basic IVs with one single ingredient. You don't have to learn all the pharmacology laws. You don't have to have hoods, and all this other stuff to the same degree. It's a much easier and also less expensive place to start if you want to start an IV room.”
“And that could be all types. If you want to do mobile, or you want to do corporate wellness, whatever the case may be.”
She added that something like Procaine would be a great starting point, targeting patients who are looking for stress or pain relief.
“It affects the root cause of aging and age-related diseases. It’s also a nervous system reset. It fights stress, and fight or flight dysregulation between the autonomic or parasympathetic and sympathetic nervous systems. So many people are dealing with that.”
“I don't know of any other IV that's going to address it this way... Again, one ingredient, one IV bag. Really inexpensive. You can make this and provide this for 10 bucks.”
Is the product-market fit really there for your target market?
You may worry that your customers can’t afford these types of treatments. You may think that the demographics of your specific area/market don’t line up with the types of people who would be interested in regenerative services. You may say, “Lebron James doesn’t live in this neighborhood.”
Look would like to invite you to shift your thinking, and not let your own assumptions get in the way of finding new ways to help your patients.
“It is a practitioner's job to make the best recommendation, not to determine what the patient is willing to do. So if you have these limiting beliefs on my patient can't pay for it, my patient won't pay for it, my patient won't change their lifestyle, my patient is too sick, my patient doesn't understand it… All those things, that's not up to you.”
She added, “That is what brings me joy in sharing this with you. There are better options for humanity than what conventional medicine has to offer. It's your obligation to find those, share them with your patients, and let them choose how much money they're going to spend, and how much time they're going to commit.”
If you have any questions about this process, or you want expert guidance on your journey to adding an IV room with regenerative services, click here to contact MedMasters.
We provide a do-it-all EHR, practice management, and patient portal solution that helps you slash the time spent on administrative tasks. We also simplify IV room management, with easy IV ordering and streamlined administration documentation.
“While it takes a while to customize Cerbo to fit your practice, it is well worth the investment and ultimately saves time and money. The best part is that this translates into successful patient outcomes while minimizing the burden of charting, educating, and day-to-day administrative tasks on the practice team.”
— Dr. Kristann Heinz, MD, RD, Red Hill Medical + Wellness, Pennsylvania.
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