Park Square Family Medicine
Opportunity
Problem & Solution
Problem Worth Solving
Obvious lack of medical services in rural areas in general. This applies as well to XXXX, where Park Square will be located.
Our Solution
Park Square Family Medicine will offer general and preventative health care for all ages in this area and the surrounding communities. The clinic will utilize a trained staff, new equipment, sound medical training, a referral system and nearby hospital facilities in order to maximize the care for each patient.
Target Market
Market Size & Segments
Market Segmentation
The largest age group in our area is between 40-49, with 31,714 people. Residents over 60 make up a higher percentage of the population in here than the regional average. Since we will be open to patients of all ages, our market segmentation breaks potential patients out into local population (within 35 miles) and patients from the surrounding region (within 70 miles).
There are currently 4-5 family practitioners in town, with 15,000 people living within 4 miles. These are favorable statistics that offer an excellent patient-to-doctor ratio, in addition to the limited number of surrounding family medical practices.
Target Market Segment Strategy
Park Square Family Medicine will locate and focus its efforts on the entire local population (within 35 miles). Our segmentation strategy is geographic for a number of reasons:
- The rural and semi-rural patients of this area will not, and often cannot, travel more than 30 miles to see a doctor. They would rather "wait it out" on all but urgent matters.
- Our clinic is a general family practice, and will treat patients of all ages, incomes, physical abilities, races, and ethnicities. As a family clinic, there is no need to create marketing materials targeted at only one or two of these groups, but we can appeal to all with a similar message.
- The expected growth of the local population, at 3.5% a year, makes this an ideal location for a broadly geographic marketing approach.
Competition
Current Alternatives
In general, competition among fellow family practitioners our town and the surrounding area is small. The growing population base and the limited number of doctors creates a great potential for meeting our patient load goals.
When choosing a family doctor, most patients look for someone knowledgeable and skilled who will listen carefully to their health concerns. They are more likely to return to a doctor whose location and hours are convenient and accessible, who have short waiting times for getting appointments and sitting in the waiting room, whose staff is friendly and helpful, and who work effectively with their insurance provider.
The relative importance of each of these factors will vary by patients’ age range, medical needs, and level of sophistication in managing their own health.
Our Advantages
Park Square Medical Center will have a competitive edge based on position, timing, quality of care, availability to patient, after-hour care, weekend hours, quality time, pleasant staff and office environment. All of these factors will result in patient satisfaction and high referral rates.
In general, competition among fellow family practitioners in our town and the surrounding area is small. The growing population base and the limited number of doctors creates a strong opportunity.
Keys to Succes
Keys to Success
Keys to Success
Patients
- Focus on patient care
- Educate patients on the importance of preventative care
- Educate patients as to the importance of yearly check-ups
- Implement an aggressive and accurate recall system in which to remind patients to have regular check ups
Staff and Office Organization
- Recognize that the office staff is as crucial, if not more crucial, than the physician(s) in the success of the business
- Create incentives by allowing the office staff to benefit from increased profits generated by the office
- Create a streamlined office system to minimize patients’ waiting time
Finances
- Keep a low overhead
- Optimize the number of patients we can see in a hour while providing quality medical care
- Use the latest in electronic billing and/or utilize an outside billing company
- Use this medical clinic business plan to review and guide management decisions
Marketing and Sales
- Aggressively market and create a presence in the community by giving high school talks, ER calls, hospital talks and doing volunteer work, business society meetings, and much more
- Network to obtain referrals from other professionals, such ER doctors, Specialists, Hospital Admissions
- Have an office front on a busy street with accessible parking
- Locate in an area with a high patient-to-doctor ratio
- Locate in close proximity to the Medical Surgery Center with easy access to specialty care
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