Tue, 28 June 2022
During the course of my work I read many articles and journals that apply to healthcare practice demographics. Much of the time, demographers form a consensus on the big picture. Often, these analysts and researchers can come to disagreements in their conclusions. You would expect nothing less. But to help our doctors, I have gleaned some factors that I think they should know to make wise decisions for their practices. This episode explains some of the take-aways that will help our practices.
Rather than illustrating these trends with data and algorithms to prove my point and recall studies that may conflict somewhat, I have put down trends I think you should know. To illustrate, demographers take a more "fatalistic conclusion" on our economy. We don't have to take into account whether this will help or hurt President Joe Biden. We (as demographers) call the balls and strike as we see them. Is the Birth Rate rising or falling? Will healthcare practices see a reduced labor force that could hurt doctors? Where is the housing market headed? That is the nature of our discussions.
The long version of this webinar will, at least, give you an idea of what trends are most applicable to doctors. After all, they are our key, target market. I think that much of what I discuss is obvious. You DO sense that many doctors are holding back their applications for school. Right? This is a trend (among others I discuss) that will help guide you in your decisions.
Tue, 21 June 2022
In the last couple of weeks, I have been asked by subscribers to the Podcast for the locations that are winning and losing population. Rather than break them down by states, I have looked at the Metropolitan Areas that the U.S. Census Bureau has identified as those that are likely to grow or shrink.
It sometimes surprises them to see how much greater the loss to a densely populated area is relative to its growth. To adequately describe the trends in population, we introduce the concept of "Dispersion." This is the process of making the process of going from a densely populated area to one of less density (not just population size or rate of growth). In the post-Covid world, it seems that everyone wants a little more space in which to live. Having neighbors may be necessary but we don't want them TOO close.
This episode describes where people are considering their destinations. If our purpose is to help you find viable sites, we need to tell you how they are getting better or worse.
I am not seeing more practices for sale. And finding places to start a practice from scratch is not so simple. This episode shares with you some real numbers.
Take a look even if you are going to put off your decision for a while.
Wed, 8 June 2022
Last week, we reviewed the "Places with the Kiss of Death."These are locations that I am strongly suggesting you NOT consider a start-up practice or a practice purchase. My reasoning is based upon the fact that their demographics are not looking particularly promising.
This week, we are looking at sites in the United States that are looking more hopeful. These locations are economically strong and show signs of growth. Many are manifesting strong economies or improved employment trends. Unfortunately, the short version of this episode can only lightly pass over the location. Still, I think it will stimulate your thinking.
Let's face it, the U.S. is looking at a period of economic risk and potential decline. Interest rates are surely going to rise. Still, that is no reason to sit on your hands while opportunities to grow are just over the horizon.
This episode explores the places where the potential for growth (and wealth) can be found. These are the places that still have risks but the risks are mitigated.
I hope you will allow Doctor Demographics to explore with you the places that have Promise!
Wed, 1 June 2022
Every year, we publish a list of the sites that are "Risky." We call these areas the "Kiss of Death" Sites. If you are considering one for purchase or a start-up, we want you to think twice. The factors that make these locations less-than-desirable, change each year. For example, in recent years, locations that had high unemployment were risky. But at this time, unemployment has not been a major factor in what makes a good or bad location. Rather, this year, locations that have above-average crime are undesirable. Perhaps more important, locations that have the high cost of living, rising taxes (income and property) and a reduced birth rate are having a more difficult time, Almost without exception, they are losing population.
In this episode, I take the time to examine the key factors that matter as well as the specific states and cities that suffer from "The Kiss of Death." Unfortunately, the list is long so the "Short Version" is inadequate to cover it all.
This is an important episode if you don't like risk. And I have tried to be as specific as possible just why this is so. Some locations (many) are committing economic suicide. Others have adopted a poisonous political message that is going to harm them. In the end, it is not a single factor. Rather, it is one of many.
I hope you enjoy this message and take it to heart