Plastic surgery’s elective procedures are more commodity than medical therapy, causing the specialty to feel the ill effects of the current economic crisis more than most service lines. In fact, some plastic surgeons now offer deals and discounts for cosmetic procedures, including reduced fees on specific days ("Botox Fridays," for example) and for combination treatments, according to a report in the New York Times.
Slashing prices might work for some surgeons, but don’t expect discounts to spark a run on breast augmentations or rhinoplasties. "It’s not a case of patients willing to purchase my services at a lesser price," says Richard T. Vagley, MD, FACS, the medical director of the Pittsburgh Institute of Plastic Surgery. "They’re not willing to purchase them at all.
"My practice is a shadow of its former self," he adds. "Keep in mind my services are not unlike products offered by jewelers or auto dealers. People are not inclined to spend discretionary income on elective cosmetic procedures because they’re anticipating worse economic times ahead."
Like anyone in any walk of life, Dr. Vagley says he’s waiting to see where the economy heads in the coming months as red seats turn blue on Capitol Hill. "I’ve been through ups and downs before," he says. "Hopefully I’ll see a release of pent up demand when the economy recovers. Will that be three months from now? Six months? Five years? Who knows?"
—Daniel Cook
