Brief Excerpt from Industry Overview Chapter:
Companies in this industry primarily engage in the medical practice of treating conditions of the skin, hair, and nails. No major companies dominate the industry. Dermatologists may work in group practices or as solo practitioners; some work for hospitals, medical schools, or outpatient facilities.
Demand for dermatologists is driven by population growth and patient lifestyle choices, according to Merritt Hawkins. The profitability of dermatology practices depends on consumer spending trends and insurance reimbursement decisions. Large practices may be able to leverage the costs of administrative staff and equipment. Small practices compete by providing personalized patient experiences and specialized services.
PRODUCTS, OPERATIONS & TECHNOLOGY
Dermatologists diagnose disorders of the skin, hair, and nails and oversee and perform surgeries and cosmetic treatments. They also aid in the formulation of pharmaceutical and cosmetic products. Practices typically offer general dermatology treatment, cosmetic services, and a micrographic surgery called Mohs, which is widely accepted as the most effective technique for removing common skin cancers.
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