In the last post “Do I need a Medical Director to Inject Botox®?” we discussed what a medical director is, why one is needed for an aesthetics business, the responsibilities of one, and more. We also provided a list of a few different medical director companies and services. Connecting with a medical director directly by your professional network or even a services like Indeed will likely be more cost effective. But not having a medical director can be a big roadblock to starting your business. Finding and choosing a medical director or collaborating physician can be stressful. In this post, we look at some companies that make the process a bit easier.
Finding a Medical Director vs. Collaborating Physician
It’s important to remember that medical directors and collaborating physicians are sometimes used interchangeably. Legally, they are two different things. RNs looking to start a business would need a medical director who performs good faith exams and creates their treatment plans (or has a collaborating NP/PA perform for them). It is out of a RN’s scope of practice in all states to prescribe treatment independently as legally this is considered the practice of medicine.
In states where NPs and other advanced practice nurses can practice independently, an NP can be her own medical director. In locations where NPs do not have independent practice, they must have a collaborating physician that assists them in providing services. (Here is a map to check general state guidelines for NPs). Also remember to be aware if your state requires an MSO/MSA which requires a physician to be full or partial owner of a med spa as far as the business formation.
That being said…
Below are a few different medical director/collaborating physician companies that provide medical director services. For all of the following companies, the phrase “included in the package” includes their individual benefits as well as the minimum state requirements for chart checking, policy monitoring, etc. (so, the company may require more from their medical doctors/collaborating physicians than simply the minimum requirements). Finally, let’s dive into the list, in order of least to most expensive.
Guardian Medical Direction
- Offers both medical directors and collaborating physicians.
- LOCATION:
- Based in Michigan, available in all 50 states.
- COST
- There is no physician matching fee.
- For new clients, they start with a 1-year contract that ranges $6000-9000 per year ($500-750 per month if done in a payment plan). If the client wishes to renew their contract after the year is up, they can purchase a 2- or 3-year plan which locks in the clients’ annual payment in the chances GMD’s prices increase.
- INCLUDED IN PACKAGE
- Collaborative agreement template and physician’s malpractice insurance. There’s also a GMD- specific communication portal for real-time communication (text, call, or video-chat) and free re-matching of doctor/collaborating physician if needed.
- A great deal with a lot included.
IBA Nurses’ Collaborative Physicians Network
- Offers both medical directors and collaborating physicians.
- Part of Dr. Jessica Chung’s International Business Association for Nurses (IBA Nurses). She also offers a variety of other services such as insurance credentialing.
- LOCATION
- Based in Florida, available in all 50 states.
- COST
- The physician match fee is based on location, license type, and the services being provided, averaging around $500 per month.
- The monthly collaborative fee is discussed and negotiated with the physician, which can average $600 per month in northern states and $750 per month in southern states.
- INCLUDED IN PACKAGE
- Case-by-case depending on what the client wants from their director/physician (which is how the monthly fees are negotiated). Does not include malpractice insurance or a collaborative agreement.
Collaborating Docs
- Offers only collaborating physicians, RNs and PAs cannot use this service.
- LOCATION
- Based in Virginia, available in all 50 states.
- COST
- One-time match fee of $500, with a guaranteed match to a physician within 2 weeks.
- The personalized monthly physician fee averages $750 per month and is based on the state’s scope of practice for your position, your years of experience, and location of your business.
- INCLUDED IN PACKAGE
- Malpractice insurance, legal assistance, and a collaborative agreement template included. Monthly video call check-ins are also included, and free re-matching of physician if needed.
Doctors For Providers
- Offers both medical directors and collaborating physicians.
- LOCATION
- Based in Florida, available in all 50 states.
- COST
- There is no physician matching fee.
- Monthly cost is based on physician specialty, types of medication prescribed, the type of business/practice it is, and the location. Fortunately, they were kind enough to provide examples!
- If you have an injections business only performing Botox® and fillers, it’s $1000 per month. Aesthetics businesses that offer Botox, fillers, micro-needling, dermabrasion, and other services are charged $1250 per month in each states besides Florida, which is $2000 per month.
- They provide discounts for clients just starting up their business! The first month is half-off to allow for the purchasing of equipment, medications, etc.
- INCLUDED IN PACKAGE
- Zoom meet and greets (meetings where you get to learn more about your physician and vice-versa), frequent-planned meetings to discuss treatments and policies, and referrals for insurance and legal companies. No legal documents or malpractice insurance included.
National Medical Directors
- Offers both medical directors and collaborating physicians.
- The only company providing medical directors that all specialize in aesthetics.
- LOCATION
- Based in California, available in all 50 states.
- COST
- Broken up into 3 tiers based on the services offered, each tier comes with virtual and in-person trainings.
- Tier 1 for Aestheticians or higher: $1,500 per month
- If your business performs services such as provide numbing creams and hydroquinone, chemical peels, cryo/cool-sculpting, laser-lipo, micro-needling, derma-planing, and microdermabrasion.
- Tier 2 for RNs or higher: $2,500 per month
- If your business performs services in Tier 1 AND services such as Botox®, filler, vitamin shots, IV vitamin therapy, and laser hair removal.
- Tier 3 for RNs or higher: $3,500 per month
- If your business performs services in Tiers 1 and 2 AND services such as prescriptive weight loss programs (that include injectable wellness peptides and prescribing naltrexone and phentermine) or hormone optimization therapy (that includes prescribing testosterone/estrogen/thyroid hormone).
- INCLUDED IN PACKAGE
- What’s included is kind of convoluted, but they offer a lot.
- Once you enter in contract with NMD, you technically become a company under/within NMD (you’re still the owner of your business with an LLC, but you have an MSA agreement with them). However, you can end the “contract” at any point, with a 30-days notice.
- Continuously checks to ensure your director AND business are meeting all state requirements by providing checklists for the necessary licenses to file, standard policies, etc.
- Collaborative agreement if required by state, but no malpractice insurance.
- Connect you with a pharmacy and medical supply service.
- Provides their own EMR called Aesthetic Record.
- 24/7 clinical support available by an on-call physician for medical issues that may arise.
- Paperwork for employee agreements.
There are a lot of options!
Finding a medical director can be tricky. Luckily, there are a variety of companies that offer medical directors and collaborating physicians, all with their own perks. Always remember to do your own research on a variety of options and pick the company that feels like the best fit for your business!
Remember…
- There is a good chance you can locate a medical director for a better monthly rate by hiring them directly, whether you use Indeed or find a physician in your current network. Finding a medical director does not always have to be through a company, and there are pros and cons to both scenarios.
- In some states, an independent-practice NP can serve as a medical director for an RN or non-independant NP or PA.
- Make the most of your resources! Injectables EDU has more resources addressing the provider-specific scope of practice and more on our FREE resources page.
- Don’t be afraid to ask: it’s a lot to take in. Schedule a FREE consultation call with Cassie today and we can talk through your questions.
Ready to hone your skills and make money with Botox? Take a look at our available online & small group hands-on Botox training.
