If you are passionate about helping women feel better as they age, then you should seriously consider opening a women’s health practice and learning the ins and outs of female specific hormone replacement therapy. Many of the nurse practitioners reading this are on hormone replacement therapy themselves and know how much better they feel on it, therefore you can truly relate with your patients in helping them achieve a better quality of life. Maybe you are not on hormone replacement but see many of these women in your practice that could significantly benefit from treatment. Nevertheless, it is an in-demand service line!
Hormone replacement clinics have been around for decades now, and for good reason, they provide significant value to patients. We are an aging population, therefore, the demand for providing hormone replacement therapy and treating female specific health needs is higher than ever!
The women’s health market is a $30 BILLION industry. That is right, $30 BILLION! The market is HUGE. It blows the men’s health market out of the water in comparison. It is projected that this market will grow by 5-10% over the next 10 years. What does this mean? It means that it would make a great side business for the astute nurse practitioner entrepreneur.
When I talk about women’s health, I just don’t mean routine pap smears, vaginitis treatment, and birth control visits… I am referring to providing female specific NICHE services, such as hormone replacement therapy (bioidentical predominately, but there are uses for synthetic hormones in certain circumstances), sexual dysfunction therapy, thyroid replacement, adrenal fatigue treatment, and the treatment for various pre/peri/post-menopausal conditions.
Why these niche services? Because they are IN DEMAND and provide VALUE to your patients. A patient does not derive a significant amount of value out of a routine pap smear… They just do not… But hormone replacement therapy that will improve their energy levels, sexual function, body composition, mood, and motivation? YES! That provides value to the patient, and they are willing to spend cash on that.
If you are looking to start a practice from scratch, then a women’s health and hormone replacement therapy clinic would make a great side practice! It can be done part-time, it is generally low liability, simple to set up, easy to market, and can result in some healthy side money! A part-time women’s health practice could easily generate an extra $10,000 a month. Who couldn’t use an extra $10,000 a month? I know I could!
Maybe you already have an established practice and want to increase patient volume and revenue. Simply adding hormone replacement therapy and sexual dysfunction treatment into your practice could do just that.
The expenses for a women’s health practice are similar to that of a men’s health practice. It is generally a low expense practice. You do not need a lot of supplies or equipment. A very simple setup would work just fine. A small office with 1 consultation room would suffice.
Personally, I say skip the office entirely! This can be done via TELEMEDICINE very easily! As we all know, COVID has changed the face of healthcare delivery. People are actively looking at telemedicine services to provide for their health needs, even more so for niche services such as hormone replacement.
What about marketing? The aging population is only increasing, and hormone replacement therapy has entered the mainstream! People are ACTIVELY seeking this out. Many times, they will find YOU! What does this mean? Lower marketing expenses, even though marketing should still be the number one function of your business! Remember though, if you decide to open a telemedicine practice, marketing must be your number one expense! You must get the word out!
I alluded to the profit potential earlier, but it makes for a great revenue stream. Your demographic market typically has a disposable income and are willing to drop cash on a service that enhances their quality of life. You should be able to average anywhere from $100-$150 per patient every month. Obtaining 100 patients is not difficult and would result in $15,000 in revenue monthly, part-time! Not bad when you factor in the low expenses as well.
Regardless of all the business aspects of integrating women’s health and hormone replacement therapies into your practice, you are making a difference in people’s lives. I feel like I make a difference in people’s lives MORE when I optimize their hormone levels and get them back to feeling great again vs. treating hypertension, hyperlipidemia, acute conditions, etc… I just walk away more fulfilled, and so do countless others.
Every nurse practitioner reading this has the potential to start their own side practice! If you are passionate about women’s health, hormone replacement therapy, and helping people feel young again, then you should seriously consider integrating women’s health into your practice or start your own women’s health clinic! This type of service line and practice will be around for many years and will only grow as the population ages. The best part? It can be done part-time and result in a healthy side income!
Remember, the Women’s Health and Hormone Replacement Therapy Course provides everything you need to know to practice women’s health and open your own practice. It covers everything from bioidentical hormone replacement therapy to where to order the medications from. If you want step by step instruction on how to provide these services, then check out the course today before the sale ends on October 4th!