5 Factors that can decide location of your healthcare unit.

If you are a first-time medical entrepreneur, you may be looking for a site where you will lay the foundation stone of your healthcare facility…this will also be the foundation on which the towers of your future success will be built. Hence, the decision on where to start your dream project is of paramount importance.

Many doctors think that it is just a plot or just a room …but they are wrong. This is your ‘Karmabhoomi’…the place where your hard work will bear the fruits of achievement, where all your aspirations of nurturing health and touching lives will come true. This will be the place where the science of healing and the art of commerce should merge into one.  Hence, this verdict has to be made with proper analysis and planning.

5 factors that should influence your choice of site

• Accessibility : Convenience to reach is a plus-point when a patient chooses a hospital or clinic. A patient is likely to choose a unit that is well-connected for ease of travel. If your healthcare unit is in an accessible location, you can expect more footfall. Accessibility will be a convenience for your employees too. Hospitals that are in high traffic areas usually receive high patient volume and can aspire for good referrals and association and partnerships too.

• Space : Space plays a big role when you decide on the location of your medical facility. A cramped place with crowded waiting rooms and overflowing receptions can be a big turn-off for your potential clients. With due consideration for your budget, try to choose a place that can accommodate the entire plethora of equipment, furniture, staff etc. with ease. Also make sure that adequate parking facilities are available.
• Your customer and your competition : The question “Who are the patients that you wish to serve” should be addressed at every step. Your target audience should be analysed on several criteria such as your specialization, the expected age, gender, health condition of patients,  and other demographics.  This answer will play a pivotal part in your location decision. If you are intending to start a hospital with an emergency or trauma unit, a high-traffic area should be your first selection. If you are intending to start a senior healthcare facility or a recuperation nursing home, a secluded and quiet spot will be a better option. It is equally advisable to keep an eye on your likely competitors and choose a location where the patient-doctor ratio is not too high to reduce competition.
• Your targeted size : It is not rocket science to depict how size of your project can influence your location size. A sprawling hospital cannot be constructed by a crowded, main road. A small out-patient clinic can be easily housed in a society or a  hub of commercial enterprise.

• Your budget : Budget can often be the most indispensable deciding factor in the choice of location. If you are based in a metropolitan city, you might have to compromise as the sites might be too expensive.  Besides, property taxes will be different for different locations and should be well-thought-out as they can add to the operating costs in the long run. A collaborative workspace like a multi-speciality clinic can give you a leeway to cut down on costs and share risks with other like-minded professionals. It can also give your patients the benefit of getting access to multiple medical services under a single roof.

To summarize, it is critical to get the best possible strategic location to enhance the probability of success. The perfect location can be beneficial not only to your aspiration of providing excellent health care but also your business growth. Hence, pay extra attention to this decision. If needed, take the help of a professional healthcare consultancy firm like Hospertz to give you helpful insights in this endeavour.

If you need any professional help in formulating your expansion module, connect with Hospertz.

Dr. Vishal Jadhav

hospertz@gmail.com

+91 9820833149 / 9867712705