Friday, March 20, 2009

Elective surgery in recession

1. Vasectomies - UP, kids are normal goods. Besides your health plan typically pays for it, and you might be out of a job soon.
2. Lasik - DOWN. Health insurance typically does not cover. Put it off.
3. Breast enhancement, tummy tuck, etc. - DOWN. See lasik above. Interesting reading at Freakonomics - How cosmetic surgery is different from buying a new car:
If you delay the purchase of a new car, your current car gets older and more rundown until you finally have no choice but to purchase a new one. Your body also gets older and more rundown, but unlike with a car, when things get too far gone, you just give up and never have the cosmetic fix-ups done.

Here are the statistics. People who are 35 to 50 years old get the most cosmetic work done, accounting for roughly 45 percent of the business. People in the 51- to 64-year-old range represent 26 percent of the procedures. People 65 and over, however, are responsible for only 6 percent of all the procedures.

Within procedures, there are further strong age patterns. Breast augmentation and nose jobs are heavily tilted toward the young. Tummy tucks are for 35- to 50-year-olds. People between 51 and 64 get facelifts.
Sounds like it's time for a bailout for the sagging cosmetic surgery industry. And I guess we know the answer to "is the cosmetic surgery industry recession proof?" Then there's this question: "can you recession proof your body?"

But wait. There is discrimination by appearance. Maybe cosmetic surgery is a financial necessity for more than just a portion of the workforce.

2 Comments:

Blogger nzm said...

But wait. There is discrimination by appearance. Maybe cosmetic surgery is a financial necessity for more than just a portion of the workforce.

Maybe lasik and plastic should be tax-deductible then?

7:46 PM  
Anonymous Insurance said...

Top post, just loved your writing style, keep posts like this one coming lot more often, you totally rock!

5:00 PM  

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