By Admin | 2020-07-09
Your location matters a lot when starting a new practice, not just for you but for your patients. According to a report, 70 percent of patients consider locations significant when selecting their healthcare provider. Hence, you should carefully consider the area for your medical practice in terms of your needs and, most importantly, the needs of your patients. Here are some factors to consider in order to choose the best location for your new practice.
Once you have selected a general location, you need to study the kind of people that live there. First, find out the average annual salary of the people in the area, and then find out the average salary earnings in surrounding cities, at least a 10-mile circle from your ideal choice. This will give you a general idea of how to price your services. Next, you should consider the residents' age and lifestyle, bearing in mind that a city with a younger population will have fewer visits to the clinic. In contrast, one with an aging population will have more needs for visits.
Insurance also plays a massive role in your practice. Find out the biggest insurance employers in the area; this will help you figure out whether your patients are covered by private health care insurance or Medicare. With this information, you can understand the type of medical billing process you will be dealing with most of the time.
Nearby Clinics, Businesses, and Competitors
What is the nearest specialist or primary care in the area? Are those medical specialties different from yours? Does the local market require your services, or is it already overcrowded? If you are opening a specialty clinic, find out if you can get decent referrals from the primary care providers around you. Bear in mind that you may have to join their network to leverage good referrals and better insurance payouts since most primary care physicians will only refer to their network. Also, consider other direct or indirect competitors in the areas to find out if you can benefit from those practices. Scope out businesses such as urgent care centers and hospitals.
Perhaps one of the best ways to make the most impression on your potential patients is by making sure you balance their needs even before they get through the door. Figure out the travel options they have and how convenient it would be to access your facility. Bear in mind that primary care clinics usually consider all sorts of suitable sites, such as office buildings, strip malls, and community crossroads. In sharp contrast, specialty clinics, often prefer major highway intersections to access a larger pool of clients from the region. Don't forget to consider the architecture, landscaping, lighting, and branding when choosing your location.