It’s the fastest growing segment in healthcare today; the self-pay sector of medicine.
Strathspey Crown, a growth equity firm focused on this sector, has recently launched a new company called Alphaeon, the first ever self-pay lifestyle health care company. “As our population is aging and living longer, we believe people also want to live better,” says Shareef Mahdavi, Chief Marketing Officer for Alphaeon.
By Carolynn Grimes
Alphaeon will initially focus on plastic surgery, dermatology, and the eye care sector in ophthalmology. The company plans on potentially expanding into other lifestyle healthcare areas including dentistry, weight loss surgery and sleep enhancement. Dustin Sjuts, Sr. V.P. for Franchise Sales says, “Patients can now start focusing on their health versus sickness. This is for people who want to invest in feeling better, looking better, and performing better.”
Freedom of Choice
Alphaeon executives believe government regulations have limited patient choice and the doctor’s ability to bring new medical innovation to the field. “ This is about freedom of choice and patients want their doctors to have a voice for them,” says Chief Executive Officer, Robert Grant.
William P. Adams, Jr., MD a board certified plastic surgeon says, “Today’s consumer is confused. Patients are inundated with advertising that’s all about products but what’s really important is being united with properly trained and credentialed physicians and surgeons who can offer patients proper guidance, options, and outcomes.”
Giving Doctors Back Their Voice
Alphaeon executives say their goal is to put the control back into the hands of physicians giving them 100 percent of the decision making process of what products work best for patients and implementing their ideas in medical innovation. “We never try to jump into the realm where doctors are the experts and I would never want to license a product that they don’t believe in,” says Grant.
“It’s sad but doctors have really been driven away from their ability to innovate. The best ideas in medicine and health care don’t originate in boardrooms, they come from the minds of doctors and their clinical experience,” states Mahdavi. Because Alphaeon is in the self-pay sector, they are not paralyzed by certain compliance regulations that can actually end up hurting patients. “The problem with regulation and in some cases over-regulation, is it’s really hampered innovation, it’s hampered creativity.”
Dr. Adams believes proactive innovation and creativity are the keys to restoring balance that will ultimately put patients and physicians back in touch.