What impact is the sagging economy having on hair tranplants?

If only we could apply the concept of a hair transplant to the economy... to stop the recession

I am thinking more along the line if demand and prices are dropping.

I haven't noticed anyone speaking of prices dropping. I think with a lot of the top docs there is a waiting period to see them so somewhat of a small drop in demand may not be a problem for them.

I think any fall in demand for a HT is something that would lag behind an economic downturn as many people may have planned and saved towards doing it for quite a while. People potentially at the start of that process now are more likely to have second thoughts than those who were well on the way before the downturn.

Despite the economic recession, most leading surgeons in the field are still very busy and booked months in advance.

I'm a firm believer that we still have to live our lives and make the best of today's world since we only go around this crazy place once. However, it's important to plan carefully, especially in today's economy.

If hair restoration surgery fits into a person's budget and they are properly educated on and accept all the benefits, limitations, and risks, many are still proceeding with the procedure to restore their hair.

Best wishes,

Bill (Falc)

quote:

I am thinking more along the line if demand and prices are dropping.

Professionals seldom drop their fees, even during economic downturns.

Just look to lawyers, other specialist doctors, etc. and you'll see the bar has not dropped.

I guess as this is cosmetic surgery, most people opting for this have the money!!

mmhce,
Thank you!

Received an email from NHI which included the following information:

Starting immediately, NHI will offer a 20% reduction of our base fee structure for any traditional strip surgery performed prior to May 31, 2009. That means our Standby Program fees drop down to as low as $4 per graft! Our complete updated fee structure is on our website (or call for details).

NHI has suspended the $100 initial consultation fee until May 31, 2009. Yes, free first consults are back!

You can now finance up to 50% of your procedure fee, on approved credit, for a term of up to 24 months. The interest rate for the initial 6 month period is 0% and for the remaining months the interest rate has dropped to only 5%! These terms are for procedures completed before May 31, 2009.

William Rassman MD
Founder, New Hair Institute

I reckon only the very best Docs will have waiting times, and even they would have reduced by a few months. H/T industry may not have suffered the recession much, but people save for these procedures, but the longer this recession goes on, the more the H/T industry will feel its effects. IMO.

This recession is hitting almost every industry segment. Insomuch as HTs are elective surgery, I'd have to say that this industry will certainly feel the pinch.

How much of a pinch? Who knows. Price cuts will not likely help, but a healthier economy and market will.

Ben Bernanke says a rebound in 2010. I hope he is right.

One bright spot (in the U.S.) might be non-residents seeking surgery here if their home currency strengthens considerably versus the dollar.

Sorry for the lecture

Dr. Dean Edell(not a hair transplant doctor) on his radio program gave an interesting stat that during hard times the cosmetic industry prospers. It seems people want to look good to perk up their mood.