New surgeons who have just completed residency and fellowship training are faced with several important decisions to make regarding their new careers in cosmetic surgery. One option is to start their own private practices, which is often an exciting and enticing endeavor, though comes with large financial risks. Another option is to join an existing group private practice, which comes with less of a financial risk but also less autonomy and a slower path to ownership.
A third option is to join a private-equity-backed group, which also mitigates financial risk and takes care of the business side of opening a new practice. Though this model often involves giving up some operational control in exchange for greater financial stability and long-term scalability, many new surgeons find it an enticing option in today’s competitive market.
The key to choosing the best path for you is to first understand what you want and the qualities that are most important to your career. Then, select a path that best meets those goals. If you’re considering joining a private equity group as a new surgeon, ask yourself these important questions to help you decide if it could be the best path for you.
1. How Much Autonomy Do You Want?
This is one of the most important questions new surgeons need to consider before joining private equity. PE-backed groups offer structure, support and efficiency, but they also come with certain guardrails. Business operations such as marketing, staffing, pricing and scheduling are often standardized to keep practices consistent across the organization.
If you prefer complete control over every business decision, private equity may feel restrictive. However, if your priority is focusing on surgery and patient care without worrying about payroll, advertising or supply management, this lack of autonomy on business-related decisions can be a positive. At Olympus Cosmetic Group, we always aim to strike a balance, allowing surgeons clinical independence while simultaneously benefiting from centralized business management.
2. What’s Your Risk Tolerance?
Every practice model involves some level of financial risk, but ask yourself how much financial risk you’re comfortable with. Starting your own practice often means taking out loans, hiring staff and covering overhead until your patient base grows. Joining private equity, on the other hand, significantly reduces that financial burden.
Most private-equity-backed practices provide the capital, infrastructure and marketing needed to get started quickly. In exchange, you may have less control over profits or long-term financial decisions. For some, that trade-off is well worth it. If you’re a surgeon who prefers a predictable income and less exposure to financial uncertainty, private equity could be a smart move.
3. What Kind of Growth Do You Envision?
Opening a solo private practice allows you to grow entirely on your own terms, but that growth typically happens gradually. You’ll spend the first few years building brand awareness, hiring staff and earning patient trust – all of which take time and resources.
Joining a private-equity-backed group, on the other hand, can significantly accelerate your growth and professional advancement. With marketing, staffing and operational support already in place, you can focus on performing procedures and building your reputation rather than managing the logistics of running a business.
If your goal is to grow quickly, expand your reach and gain experience in a supportive environment, partnering with private equity can help you reach that next level faster, and without the steep learning curve of doing it all yourself.
Want to Learn More about Olympus Cosmetic Group?
If you’re interested in learning more about Olympus Cosmetic Group and the benefits we can offer new surgeons, we invite you to call our team at 561-614-8243 or get in touch online.
