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The Value of Locating Your Practice Within the Right Community

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The Value of Locating Your Practice Within the Right Community

  1. 1. The Value of Locating Your Practice Within the Right Community<br />The Business Side of Medicine 2011<br />Daniel James Scott, MS, MBA<br />Sustainable Entrepreneurship & Innovation Alliance<br />USF St. Petersburg – College of Business<br />
  2. 2. You<br />(Goals to Value)<br />
  3. 3. Set your goals.<br />Write them down.<br />Show them to others.<br />Match them to your decisions.<br />Hold yourself accountable.<br />
  4. 4. Community<br />Facility<br />Cost<br />Geography<br />
  5. 5. Community<br />(Value to Community)<br />
  6. 6. Community<br />=<br />Shared experience<br />
  7. 7. Healthy<br />
  8. 8. I want to be<br />Healthy<br />
  9. 9. +<br />=<br />
  10. 10. I want to be<br />Healthy<br />NOW!<br />
  11. 11. Your industry offers healthcare<br />Your competition offers “quality” healthcare<br />What are you offering?<br />
  12. 12. Everyone needs healthcare.<br /> uses<br /> buys<br />--------<br />------<br />------<br />
  13. 13. Not everyone will buy my brand of healthcare.<br />(part market, part competition)<br />
  14. 14. No location can fix a poor offering.<br />marketing .<br />advertising .<br /> Nothing can fix a poor offering.<br />----- ------------------------------<br />----------<br />-------------<br />---------------<br />
  15. 15. Market<br />Community to Location<br />
  16. 16. Global = Everywhere<br />/<br />
  17. 17.
  18. 18.
  19. 19. US PCP #’s increased 3.7% from 2006 to 2008(capacity for 1.7MM at only 39% of all doctors)<br />US population increased 1.9% from 2006 to 2008<br />(1.2MM)<br />
  20. 20.
  21. 21. Locations by Type<br />
  22. 22. Where to Serve?<br />780:1<br />US<br />1,176:1<br />5 miles from USF Health South Tampa<br />843:1<br />FL<br />749:1<br />5 miles from USF<br />Tampa Campus<br />
  23. 23. If I was a betting man, I would bet convenience is #1.<br />(Retail)<br />What do you sell?<br />
  24. 24. Households (xpop, xgrowth)<br />Families (xpop, xgrowth)<br />Income (xper capita)<br />Housing Units (xowner-occupied, xrenter-occupied, xvacant)<br />Home Value (xpop)<br />Net Worth (xpop, xage)<br />Age (xpop, xsex, xsexxrace)<br />Labor Force (xpop, xindustry, xoccupation)<br />Race (xpop)<br />Education (xpop)<br />Marital Status (xpop)<br />Income(xpop, xage, xfamily, xdisposable, xdisposablexage)<br />
  25. 25. Data can support a decision<br />Data cannot make a decision<br />Only YOU can do that<br />(The SBDC @ USF can help… for FREE!)<br />
  26. 26. Cost<br />Location to Goals<br />
  27. 27.
  28. 28. Stronger Location = More Revenue<br />More Revenue = Better Compensation<br />Better Compensation = Higher Valuation<br />Value = $$$<br />
  29. 29. Recap<br />
  30. 30.
  31. 31. The Value of Locating Your Practice Within the Right Community<br />The Business Side of Medicine 2011<br />Daniel James Scott, MS, MBA<br />Sustainable Entrepreneurship & Innovation Alliance<br />USF St. Petersburg – College of Business<br />

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