Dr. Dhaval Bhanusali, a celebrated New York dermatologist, is revolutionizing skincare affordability with innovative ventures like Skin Medicinals, which has saved patients $200 million on prescription costs.
Physicians are traditionally seen as problem solvers, a role that encompasses examining patients, identifying issues, and devising effective solutions. However, for Dr. Dhaval Bhanusali, this perspective only scratches the surface. Based in New York, Bhanusali is not just a dermatologist but also the entrepreneurial force behind Hudson Dermatology and Laser. His client roster includes the likes of Martha Stewart and Hailey Bieber, the latter of whom he assisted in formulating her groundbreaking skincare line. This blend of medicine and entrepreneurship has earned him the title of a “doctorpreneur.”
Adding another feather to his cap, Dr. Bhanusali recently celebrated a significant achievement. His company, Skin Medicinals, founded in 2018, announced it has saved patients a combined total of $200 million on prescription drug costs.
“What started as a small idea to improve access for patients has turned into a unifying movement across our field, and I couldn’t be more excited for what’s to come next,” Bhanusali shared in a statement to Entrepreneur.
Skin Medicinals emerged from Bhanusali and his colleagues’ observation of a “drastic increase in pricing of medications.” The healthcare tech company functions as a bridge between patients and doctors, enabling physicians to tailor-make compound medicines and deliver them directly to patients.
Bhanusali’s business philosophy is anchored in a “doctor-first” approach. He believes that many technologists falter in healthcare because they fail to consider challenges through a “physician’s lens.” His central focus remains on patients’ needs: “What would our patients want?” he explained.
This patient-centric mindset also landed him a role collaborating with Hailey Bieber on Rhode, a skincare line launched earlier this year that boasts affordable prices ranging from $16 to $29. The line comprises non-comedogenic ingredients suitable for all skin types.
“The idea was let’s create formulas that are simple,” Bhanusali said. “We’re not trying to make outrageous claims, we have very good, clean, efficacious formulas that work for all skin types.”
During his research for Rhode, Bhanusali noticed skincare trends were leaning towards harsh acids and heavy marketing. His goal became refining products to ensure they served as effective complements to existing skincare routines.
Apart from Rhode, Bhanusali played a pivotal role in the formulation of Amazon’s first private-label skincare brand, Fast Beauty Co., which was pioneering as a digital-first skincare brand without physical product testing. This venture underlined Bhanusali’s versatility as an entrepreneur. “Being an entrepreneur is like using the other side of my brain,” he noted.
Furthermore, Bhanusali is teaming up with his friend and patient, Martha Stewart, for an upcoming project, which rumors suggest could be around face or body care products.
He attributes much of his entrepreneurial insight to Stewart. “Working with Martha has truly been a privilege,” he said. “She is one of the most fascinating people on Earth, and I’ve learned a ton from her.”
In addition to these cosmetic achievements, Bhanusali has also contributed to the creation of Ephemeral, a fleeting tattoo company offering inks that fade within a year, reducing the permanence traditionally associated with tattoos.
Despite his diverse range of projects, Bhanusali remains grounded by finding ways to give back. In 2020, he was honored by the American Academy of Dermatology as a Patient Care Hero for his life-changing scar treatment of a young dog bite victim, a story that went viral.
Bhanusali’s professional success is also mirrored on social media, where he boasts significant followings with 171,000 on TikTok and 138,000 on Instagram. His office currently has a one-year waiting list for new patients, a testament to his popularity and expertise.
“I love educating through the medium,” Bhanusali said about his social media engagement. “Typically, I’ll spend a couple of hours creating content and then post it over the next few weeks.”
However, Bhanusali emphasizes the importance of balance, noting that the entrepreneurial mindset is a constant presence. “To be a great entrepreneur, you need to have that balance,” he said, adding that his “North Star” is his family.
In his practice, Bhanusali maintains a “family style” atmosphere, engaging with patients as if they were family. “It’s just like, you know, it’s the coolest job on Earth,” he said, conveying his enthusiasm for his life’s work.
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