The healthcare space has been traditionally dominated by public healthcare options—namely hospitals and emergency rooms. The private healthcare industry, however, has been steadily on the rise. For both minor and major ailments and injuries, it’s common practice to go to the emergency room. But is that really the best option? ER’s have high co-pays and long wait times. Urgent care facilities like the American Family Care franchise are more efficient and affordable, and play a vital role in helping decongest crowded emergency rooms.
A big part of exploring an American Family Care franchise opportunity is answering the question: can I turn my investment into profit? The first step in determining that answer is researching the industry and educating yourself on its projected future. Fortunately, the healthcare industry’s strength and growth has been on a steady uptick.
Since their beginning in the 1970s, urgent care clinics have now reached over 10,000 locations, and revenue per clinic is expected to increase to around $1.7 million through 2020. Private healthcare is in a strong position. The benefit of private healthcare franchises is that we can more easily forge relationships with our patients and build trust with our brand, no matter what location they visit.
The healthcare industry, in general, has the benefit of a surplus of doctors and qualified talent to staff your medical franchise. The U.S. Bureau of Labor Statistics reports that health care jobs are projected to grow nearly 20% from 2014-2024 (significantly higher than other industries), so you’ll never find yourself wanting for qualified physicians and other staff.
An American Family Care Franchise Is the ER Alternative
A 2009 study reported that up to 29% of all emergency room visits were unnecessary, and could instead be handled by an urgent care clinic. A few years later, updated studies claimed that the number had risen to over 71%.
American Family Care franchises are open seven days a week with extended hours, so patients truly don’t have to visit the ER unless they absolutely have to. Many ailments commonly treated (at great expense) in the ER can actually be more affordably covered by an urgent care clinic. Apart from life-threatening emergencies and catastrophic illnesses, urgent care clinics can treat most common ailments. Check out this list for a more thorough account of what should be treated by urgent care clinics versus emergency rooms.
Filling the Market Gap
Americans are growing increasingly impatient with emergency rooms and long wait times for appointments with primary care physicians. For years, emergency rooms have been crippled by long lines and slow service. Between 1994 and 2004, the number of hospitals and emergency rooms actually decreased by 9%, while ER visits increased by over 1 million per year. There are simply too many people visiting the ER, and not enough space to accommodate them.
Urgent care helps alleviate the strain on emergency rooms, unclogging the waiting rooms and providing quick service to patients in need. The convenience and low costs of urgent care clinics like our American Family Care franchises make us a trusted and convenient alternative to the ER.
Entrepreneurial doctors, healthcare professionals, and businesspeople have recognized the problems associated with emergency rooms, and capitalized on the gap in the market. For this reason, revenue in the urgent care industry is expected to reach over $30 billion annually by 2020, at a growth rate of 3.8 percent.
Fill out our contact form to learn more about urgent care franchise opportunities with AFC.