28
Jun
11

Franchise Health Care Companies: Top 10 Reasons

The following blog was originally posted at franchisinghealthcare.com. Weise Communications is proud to be a sponsor of the Franchising in Health Care Conference, July 27 & 28, in Minneapolis. For more information about the conference, or to register, click here.

According to an article originally posted in the Denver Business Journal entitled “Urgent care franchises gaining acceptance,” companies such as Maryland-based Doctors Express, have seen great growth based on a productive business model for both the franchisees and the patients. In the article Chris Prior, medical director at Doctors Express in Centennial Colorado states, “declining number of primary care physicians has made it harder for a parent to get their child in to see their family doctor when illness arises, making new urgent-care locations more accessible.”

A health care franchise has the ability to positively impact the community it serves by reducing the cost of health care expenses and improving overall community wellness. Franchising within the health arena is advantageous because it allows for increased buying power of equipment, supplies and technology solutions. For example, when a new treatment becomes available, the franchisor can a directly share information with the medical professionals (within the franchise system) to detail implementation. This buying power will also mean franchisees in a system can purchase new technology at a bulk rate – something stand-alone practitioners will not be able to do. The knowledge-share and buying power will effectively and quickly spread a high standard of treatment options across a system and throughout communities.

The following are our top 10 reasons to franchise great health care concepts:

  1. Multiple locations with cost-effective services improve/increase patient access to care.
  2. Replicating systems throughout the franchise such as advertising programs, patient acquisition plans and technology infrastructure, reduces costs.
  3. Franchisees have access to buying power for costly medical equipment and supplies.
  4. The franchise system provides more sophisticated business management and allows medical professionals to focus on practicing medicine.
  5. The ability to purchase and implementation of technology speeds up, increases and improves the business.
  6. Services can better coordinate for an individual patient.
  7. The larger system can monitor best practices, which allows for better patient outcomes and more positive customer experiences.
  8. Franchising allows for faster scalability of a great concept.
  9. A franchise system is better for raising capital when overall system improvements are needed.
  10. Effective franchising may bend the cost curve of health care within communities, thereby improving the overall health and wellness of a community.

Have an additional top reason to franchise in the health care space? Please feel free to post your ideas in the comments; we would appreciate hearing from you. Be sure to follow us online @Weise_Ideas orFacebook: Weise Communications

I would like to express great thanks to Kevin Hein for helping with this post. Kevin Hein is a partner at Faegre & Benson. He is a corporate lawyer with a special emphasis on representing companies using franchising as a method of distributing their products or services.


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