Wed, 12 October 2022
When examining the viability of a practice site, it is important to know how many competing providers (doctors) and practices there are. That much seems obvious. But we also have to acknowledge who the REAL competitors are within a practice area. In the case of healthcare, you should be aware that not all doctors/practices are true competitors. As an example, there is a significant difference in the range of procedures and equipment available among practices. A veterinarian may not treat and diagnose the same animals as another practice. Dermatologists may have the same training but they offer very different care to different patient types. Not all orthodontists are the same. In short, when contrasting doctors of similar disciplines, we are wise to judge that they may not be true competitors at all. Only a demographer with experience can recommend a site based on the variables in practice types. It is usually insufficient to make a broad conclusion about the competition unless the variations in practice and clinical care are understood.
At Doctor Demographics, we recognize that sometimes general practices are significantly different in who they target for treatment and the niche they occupy. It is foolish to assume that all practices will offer the same services to their patients, even if they SEEM to be alike.
So, if you are trying to determine if there is "room for one more," it is vital to have a demographics firm that understands healthcare do your research.
Direct download: competition_audio.mp3
Category:general -- posted at: 8:31am EDT