April 23, 2020
Since 2016, retail urgent care business facilities have continued to grow at about 20%, an extraordinary rate expected to hold steady until at least 2025. Once unknown among patients seeking treatment, urgent care clinics have built a reputation for being safe, trustworthy alternatives when visits to a typical ER or physician’s office aren’t feasible. As a result of the upswing in urgent care center locations, partners of these centers tend to enjoy attractive urgent care profit margin rates. Yet the advantages of the urgent care business model don’t end with those benefits. People and professionals everywhere appreciate urgent care facilities for a variety of reasons.
Urgent Care Appointments Routinely Cost Less Than Traditional ER Visits
Colds, flu, and accidents could care less what time it is. When individuals feel sick or suffer injuries in the evenings or during weekends, they have a few options. They can contact their primary care physicians, who may simply tell them to make an appointment during regular office hours. Or, they may have to go to an ER. Yet prices at ERs can be very high, making visits too expensive for families on tight budgets. And who wants to wait until Monday morning to schedule a doctor’s visit?
What’s the solution? Urgent care. Instead of waiting or spending too much, people can simply drive to their nearest urgent care location. Ironically, they may spend less out of pocket, even though the care they’re getting is during “off” times. Urgent care drop-ins tend to cost much less per visit for patients despite the fact that center owners and investors usually realize attractive urgent care profit margins.
Urgent Care in Rural Area May Provide Lifesaving Interventions
Living in the country has its advantages, but access to healthcare isn’t necessarily one of them. Rural regions of the country may not offer residents easy access to hospitals or ERs. In fact, some cities, towns, and municipalities are so remote that sick people must travel for more than an hour to get seen by a healthcare provider. In more serious cases, even 30 minutes is too long to wait for medical intervention.
An urgent care facility can fill this healthcare gap sufficiently. Instead of being forced to drive out of their way, individuals and families can enjoy more immediate attention. This could literally mean the difference between life and death in some circumstances.
Urgent Care Businesses Tend to Run Efficiently
Because urgent cares are privately operated, they tend to run more like companies than nonprofits. After all, their partners and owners want to see a decent urgent care profit margin, so they put measures in place to function effectively and productively. This can mean shorter wait times and better staffing during high-volume hours.
How attractive can an urgent care profit margin be for an investor or partner? Many urgent care centers have seen statistically significant growth in very little time after opening. Though growth patterns vary depending upon geography and other factors, with the right type of urgent care marketing plan and startup consultants, centers can hit or even exceed quarterly and annual revenue goals.
Invest in a Clinic With an Appealing Urgent Care Profit Margin
Do you like the idea of helping people in your community by putting money and energy into a key business? Consider investigating the possibility of opening an urgent care location close to where you live and work. You’ll be doing yourself and your neighbors a service.