How to find the perfect location for your medical practice

How to find the perfect location for your medical practice

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Finding the ideal location for medical professionals is an important (and time consuming) decision. Locating a perfect site will depend on the specific environment that appeals to the medical professional and must take into consideration the patients that will be attracted to your location.

When searching for a location for your practice many aspects need to be taken into consideration:

Location

  • Check to see what the population-to-professional ratio is for the specific location. Placing a medical practice in an area that is underserved will help to expand access to healthcare locally. The lower the medical practices in the area, perhaps the lower the competition in the area.
  • Find tenant synergies. An office building that has doctors, physiotherapists, optometrists and other medical professionals may be an attractive option.
  • If other medical practices are located in the area, analyze their marketing strategies.
  • Businesses in the surrounding area will also draw potential clients, creating co-tenancies with strong traffic.  Retail and Employment Centres also attract patients.

Demographics

  • Identify your target demographic – age, income, household size, private insurance and any other information that would be important in identifying who your patients are.
  • Research the population surrounding a location and compare one location to another to determine which is best situated.

Access

  • The best location for your practice can provide exposure and excellent access, making it easy and convenient for patients.
  • Locate the practice with a convenient drive time of 5, 10 or 15 minutes away from patients.
  • Plan accessibility such as elevators and barrier free considerations.
  • Providing parking at the front of the building and near the door will ensure the safety and security of patients.
  • Sustainability is something that should be taken into consideration. Energy and water conservation and sustainable lighting are all sustainable efforts that can be explored.

All of these aspects should be considered when researching a location.  A real estate professional that has experience and knowledge can guide you in finding the perfect site.

What services does Shindico offer to medical professionals?

  • The latest in sophisticated site analysis tools.
  • Vast market knowledge.
  • Detailed site analysis using the latest demographic data and programs such as STDB (Site To Do Business) which provide powerful mapping and spatial analytics software.
  • Participation in local, national, and international property databases for access to the most up to date opportunities.
  • Professional reporting.

At Shindico, we look at what our clients and the customers of our clients need to succeed. The core philosophy of our business is “Succeeding by Helping Others Succeed” and this mission statement is continually applied to each project and transaction.

Sandy G. Shindleman, CCIM, SIOR, FRICS
President & CEO

 

Learn more about the services Shindico offers and how we can help you succeed

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