Insurance Protection for Med Spas
Med Spas or Medi-Spas combine the medical profession & spa industry to offer various cosmetic surgery and anti-aging services. This interesting niche has been a growth industry during the last decade with over 25,000 Med Spas operating today in the U.S. as of September 2023. The projected growth will continue as people age and less invasive cosmetic procedures of facial fillers coupled with advanced equipment and techniques are made possible. The marketplace for aesthetic procedures among all ages and genders are rapidly growing. In fact, according to Grand View Research, an independent market research and consulting firm, revenues for Med Spas reached in the U.S. reached $16.4 Billion and are expected to climb to by almost 14% by 2030.
QUISQUE CURSUS
Insuring Medical Spa Facilities, and their Practitioners
Med Spa practitioners may include physicians, physician assistants, nurse practitioners estheticians, laser technicians and dentists. Each has his or her own specialty and level of expertise, with the most requested aesthetician services including facials, microdermabrasion, chemical peels, laser hair removal, tattoo removal, laser skin resurfacing & tightening, cryotherapy and other anti-aging treatments.
With the myriad of services performed in a Med Spa, liability is a very real risk. For example, claims can result from improper use of laser machines, which can cause burning, hyper or hypo pigment of the skin. There are also considerations for allergic reactions, nerve or muscle damage and overinflation from fillers.
At Sagacious Insurance, we provide Med Spas with professional liability and general liability insurance to protect these facilities against losses. We are a full-service brokerage providing other coverages of Workers’ Compensation, Business Property, Group Employee Benefits and more.