Increasing demands for convenient healthcare of consumers is driving a significant shift in the real estate strategies. These urgent care clinics are a low-cost alternative to hospital emergency rooms in the US. One of the reasons for its growing popularity is that these clinics have expanded hours. These clinics are well-equipped for diagnosis and treatment of a broad range of limb and non-life threatening illnesses and injuries.
Urgent Care centers are all about convenience of the patient
One of the fastest growing segments of the American healthcare system is the urgent care center industry, which has become a significantly viable alternative for patients due to rising wait times of both emergency and primary care providers in the US.
According to American’2016 benchmarking report, there are 7357 urgent care centers in the U.S, which is a rise of 650 from the 2015 count. In the year 2015, 92% of the urgent care centers in the US have achieved wait times of 30 minutes or less. In addition, there were about 3% of patients only in these clinics who were diverted to an emergency department.
About 22% of the patients have chosen urgent care centers over other medical facilities because they thought wait times would be shorter. As per the same study, about 21 % people preferred these centers due to convenient locations of these clinics.
Urgent Care Clinics in Retail Real Estate
The Ambulatory strategy plan is increasingly implemented by large healthcare real estate service providers in the US. For increasing their profits significantly, the retail real estate providers were leasing vacant retail spaces and urgent care clinics in areas where potential patients live.
Retail landlords are embracing healthcare tenants due to their ability to drive a significant amount of traffic. One of the major benefits of adding more health care providers to their retail mixes to a landlord is that the doctors often have higher credit ratings than any real estate retailers. Real estate providers view doctors or any healthcare employees as people who are free from the effects of the recession. The signs of healthcare tenants increases significantly as most of the retailers in the US are struggling with a rash of store closures and high vacancy rates.
When making real estate decisions, healthcare providers are beginning to think like retailers in order to tap into the retail sectors and consumer behavior.
How is site selection for urgent care centers done?
The top healthcare real estate service providers in the US have now had access to better decision support tools for guiding their site selection and successfully leasing decisions. These advanced tools use data-informed scenarios to determine a forward-looking market footprint.
The tools pinpoint regions with a favorable payer mixer and substantial health needs, which can support a sustainable growth strategy for any real estate service providers. Today the most advanced healthcare real estate providers are working with their potential clients as partners who effectively combines the patient’s data and the health providers’ critical demographic data into advanced site selection tools.
This update is provided to you by Park West Capital. With over a decade experience specializing in real estate financing and commercial lending opportunities. We have assisted numerous clients with growing their real estate portfolios and providing the funding resources. We firmly believe in accountability, excellence, integrity, entrepreneurship, and teamwork. Contact us at 800-969-4901 to learn more about how we can professionally assist you with your investing needs or fill out our hard money loan application and we’ll get in touch with you.