The very first walk-in urgent care clinic opened in Minnesota in 2000. By 2016, there were 2,000 such facilities operating in the United States. It’s estimated that by the end of the year there will be 14 times more urgent care startups than there were ten years ago. Urgent care businesses fill a community need, can be profitable, and the market for them is growing by the minute. But what does it cost to start an urgent care clinic?
Community Benefits of Urgent Care
Among the most significant benefits of urgent care centers are services for patients lacking insurance, and shorter wait times. A quarter of those choosing urgent care clinics for emergent health issues claimed shorter wait times as the reason. Shorter wait times in urgent care centers can be attributed to less severe injuries and illnesses at intake, as well as limited traffic.
What Does it Cost to Start an Urgent Care Clinic?
There are a number of factors to be considered in order to arrive at useful figures. Real estate transactions -- variables between owning and leasing space are significant -- are an estimable factor. The location of the clinic and how that location will impact operating and property costs are significant factors, as well. Also to be considered as you explore what does it cost to start an urgent care clinic is the projected size of the clinic you will operate. What does it cost to start an urgent care clinic? It costs to research and plan, as well as develop a sound and savvy urgent care business model. Read on for more information about aggregating the many variables in order to achieve an answer to the question 'What does it cost to start an urgent care clinic?'
Your Real Estate Transaction
You will likely have already done the planning and research that is necessary, but the importance of understanding the kind of real estate transaction you plan to make for your urgent care startup can’t be overstated. Will you lease an extant space, purchase an existing property, or build a new structure? Make sure you're taking everything into consideration throughout the entire transaction.
The Location of Your Urgent Care Clinic
Many potential areas will have zoning, taxation, and other benefits, but they might not be in markets that will serve your urgent care marketing strategy best. There is a great deal of work and research involved in determining the best location for your urgent care clinic. Be sure you are doing your homework on the potential markets as well as the regulations, building codes, necessary licenses and permits, and insurance requirements of those markets. Also, make sure all these factors will work to yield a profitable urgent care business.
The Size of Your Urgent Care Center
Keep in mind that the average square footage for an urgent care clinic is around 3,000. That’s a good guideline as you prepare rough estimates, but it will be necessary to plan a size that will accommodate the business you expect to generate and the range of services you will offer relative to your urgent care center marketing strategy. Will you offer urgent care, limiting space that may otherwise be occupied by a laboratory, therapy, and other common services? Or will you offer a full suite of medical and rehabilitative services, requiring a great deal more space?
The Average CostIt’s important to know and plan as much as you can as you prepare to launch your urgent care startup, and to be aware that your cost may vary widely from precedents and averages. But there are some figures to take into consideration: the average cost to launch an urgent care clinic is between $840,000 and $1.6 million.
"What does it cost to start an urgent care clinic" has no static answer. With careful planning, research, and solid business methods, you can learn exactly what it will cost for your urgent care venture.
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