What are some ways to determine the need for an outpatient practice? The area I am looking at is a small town outside of a large metro area that currently does not have a therapy clinic.
How small? Should be at least 20-25,000 people to provide for adequate "supply" of patients. Especially if there is a lively sports-life in the community (great marketing area!). And how big do you want your clinic to be? If there is nothing now - go for a one-person clinic. If the community looks like growing , make sure YOU have room to grow too.
of note: Barrie has 125,000 people, very active AND very grey population, with a regional catchment of 270,000. A large hospital with rehab dept, 14 private PT outpatient clinics (from 2 LARGE clinics with 4 or more PTs to mostly small -1 to 3- PT set-ups) and a large number of chiros, very large. Right now, the market is saturated here. I would NOT advise anyone to start a clinic here now, although there are still chiros starting up here.
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Joined: September 15, 2004
From: Minnesota
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If you are in the states, check with the state to see if they have a Small Business Development Center that can assist you with demographics. The data will provide objective information to assist with your decision.
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