The only thing that remains consistent, is change. Over the past two decades, we've observed the urgent care industry grow not only based on the number of units nationally, we've also observed how the placement and positioning of urgent cares within a market can impact an operator's potential for success. As more and more urgent care units are added to accommodate market and patient demand dynamics, relying on a 'good' market analysis is often not 'good enough.' The evolution of urgent care strategy and technology has enabled Users to look beyond the number of competitors in a market to better understand how underwriting existing services and choosing the 'right' location can impact: defendability against future competition, maximization of patient volumes for a given marketplace, and momentum for future growth and disposition.
Learning Objectives 1) Evolution Related to Placement of Urgent Care Centers - Examining the shift of urgent cares from professional office settings to retail centric properties, and, examining how the prioritization of prominent retail positions have been analytically correlated to patient volumes. Examine how some urgent cares have successfully located next-door or down the street from competitive services. 2) Understanding The Evolution of Technology - Going beyond historic and 'dated' methods of market analytics to include and consider "true trade area composition," consumers' "path of travel," and understanding your "real market draw potential." Examine how many urgent cares have "threaded the needle" in markets that may have otherwise been viewed as "saturated." 3) The Evolution of Real Estate Costs - How rising rent rates and buildout costs are impacting groups' market strategies, sizing considerations, and market penetration. Examine the idea that most urgent cares nationally are 2,500 to 3,500 square-feet, how rising costs are causing some groups to consider smaller foot-prints, and, how some larger facilities become economically 'unappealing' or 'unsustainable' with annual increases to the base-rent.
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