If your urgent care center has been open and operating for some time, you may be considering expanding to additional locations. Whether you’re looking to simply bring in more revenue or compete with other centers in the area, enhancing your center through expansion can be a very rewarding process. But how do you know if you’re ready?
At Experity Consulting, we want to help your center be the best it can be. Here are a few things to consider if you think you’re ready to take the next step.
Before you can even consider expanding, you must make sure that your current centers are successful. We have seen many owners try to expand without first taking the time to improve problem areas in the first center, creating a situation where both centers are experiencing the same issues, affecting the business at a greater level.
The best thing you can do before expanding is to make sure that your center is running smoothly and efficiently, maximizing your revenue. Consider areas of improvement, such as revenue cycle management or staffing efficiencies, and get your center in tip-top shape.
Even though you might think adding locations is a sign of healthy growth, a market analysis could prove that a second location may not be a viable option. An analysis could reveal that expanding would lead to more frustration if market trends or growth rate in your area are not ideal.
By looking at the market, you can create a strategic plan for growth, instead of jumping in head first and barely treading water. You will be able to look at success factors, potential profitability, and trends to gain better insight.
By studying and knowing who your direct competitors are, you will know what markets are over-saturated. You may see more chains popping up around you or a hospital getting ready to step into the market. If that’s the case, then selecting a location will be directly tied to where your competition is.
Because urgent care centers are retail-based, you want an additional location to be strategically placed so that you gain more patient volume, without hurting your bottom line. Location is a key part in making sure that your urgent care is successful, so doing a deep dive into the market and finding a location that is convenient for patients will give you an advantage.
Making the decision to expand can be an exciting time, but making sure your urgent care is ready for the growth is important. Experity Consulting can help you as you take the next step with your urgent care. If you are interested in learning more about expansion, contact us today!