ENDING ON A high

As we approach the end of the tax year, members of our Women in Aesthetic Medicine group give their top tips on managing finances

As the end of the tax year approaches, it’s a good time to reflect on your clinic’s finances and investments. Dr Uliana Gout suggests taking a step back to review the past year and consider how to redistribute investments for the year ahead.

“It’s always a nice idea to sit back and review the financial landscape of the last 12 months,” she adds. “I would always recommend having a good accountant and financial advisor to bounce ideas and get some strategic guidance. Planning quarterly is also a nice way to budget carefully and to always consider how to best mitigate risk given the bigger financial economy landscape and also the trends in the aesthetic industry.”

Nurse practitioner Tracey Denison emphasises that managing finances and investments requires foresight, adaptability, and constant review, much like caring for a patient: “I ensure every decision aligns with long-term goals, balancing security with growth, just as I would balance immediate care with future health outcomes. It’s about being proactive, informed, and always prepared to adjust to change.”

Dr Mayoni Gooneratne looks at the problem from a different angle. “I try to set my vision for my life and work backwards to work out what I need to be earning, saving and spending,” she adds. “This allows me to create a monthly personal and business spending plan.”

As the “guardian of the clinic finances”, Dr Anna Hemming makes sure that stock is purchased, any large spends are made and pension top-ups are done when possible. “It’s so important to look after the business finances and nurture them,” she adds. “Look for patterns, monthly ups and downs, and note times when spending is higher or lower; this helps plan business progression and needs. By the end of the tax year, all your planning should come together, creating the best outcome for you and the business.”

Dr Sabika Karim highlights the importance of managing finances for running a successful aesthetic clinic.

“Start by reviewing the last year’s trends and identifying what may be ahead, the current financial landscape and any unmet patient needs,” adds Dr Karim. “Then it’s prudent to review the business’s financial health and set clear goals aligned with the clinic’s vision. It’s important to prioritise reinvestment in staff training, new technology, and improving patient care.

“Maintain a flexible growth strategy to adapt to industry trends while avoiding overextension. Allocate funds for marketing, but ensure campaigns align with your clinic’s ethical standards. Always plan for contingencies to manage unexpected expenses. Finally, consult a financial advisor to explore savings, investments, and pensions, balancing securing long-term stability with growth for your clinic. We are experts in aesthetic medicine, but they are the money experts.”