PRS AAPS Oral Proofs 2016
Arvind U. Gowda, MD,* Kashyap Komarraju Tadisina, MD,† Rory Carroll, BS,* Karan Chopra, MD,‡ Devinder P. Singh, MD§
From the *University of Maryland, Baltimore, Md.; †St. Louis University, St. Louis, Mo.; ‡John Hopkins University, Baltimore, Md.; and §Division of Plastic Surgery, Anne Arundel Medical Center, Annapolis, Md.
PURPOSE: Aesthetic procedure volumes have seen an 82% increase in surgical procedures and a 508% increase in nonsurgical procedures since 1997. Although it is frequently assumed that there is a correlation between economic prosperity and the demand for aesthetic procedures, the relationship remains unclear, particularly at a national level. This study aims to identify macroeconomic trends relevant to plastic surgery practice management.
METHODS: Procedure volume was abstracted from The American Society for Aesthetic Plastic Surgery’s comprehensive databank of cosmetic surgery for the years 1997 to 2014. Economic data were abstracted from publically available Standard & Poor’s (S&P) 500 information. Pearson correlations were used to measure relationships between the S&P 500 market index monthly/annual closing averages and aesthetic procedure volume data.
RESULTS: Fifteen surgical and 10 nonsurgical procedures from the database fit study criteria. Both total surgical and total nonsurgical procedure volume significantly correlated with S&P 500 performance (r = 0.68, P = 0.002 and r = 0.73, P < 0.001, respectively). Sixty-six percent (10/15) individual surgical procedures showed correlation with S&P performance. Conversely, only 30% (3/10) of individual nonsurgical procedures correlated with the S&P 500.
CONCLUSIONS: This study reveals a positive correlation between the economy and aesthetic procedure volume. Plastic surgeons should complement their traditional surgical practices with the adoption of nonsurgical interventions to minimize the effect of economic variability on their practice and remain competitive in the everchanging economic environment.