Posts Tagged ‘Faegr

13
Sep
12

Health Care and Franchising – A Growing Business Model

ImageHealth care in the United States continues to evolve. With changes forthcoming, and past obstacles still being overcome, health providers are looking for ways to provide better patient outcomes and manage a sustainable business model. However, these are irrelevant if there is no access to care. Coupled with one of the largest issues to come out of the 2011 Healthcare Franchising Conference is the fact that more doctors are retiring than ever before, leading to increased opportunities to deliver a number of health care services through the franchised business model.

In my opinion, franchising give us the access to care, provides quality assurance and creates a sustainable business model for the business owners and providers.

Franchising is at the cross roads of health care and business.

Franchising has successfully evolved thousands of from thriving local businesses into iconic household names. Think: McDonald’s, Chick-Fil-A, Dunkin’ Donuts. The food industry possessed the beginning of the franchise era however, over the years franchising has branched out to include product distribution and services:  The UPS Store, Fantastic Sam’s, Curves. Today we are continuing this evolution. Everything we know about quality assurance, billing, marketing, and program development for franchising is being transferred into health care. It is time to put a greater focus on this transference of knowledge.

When we follow best practices in franchising, we can deliver quality assurance to patients. We can provide practitioners – physicians, nurses, medical assistants and licensed practitioners in many fields, with the ability to focus on service delivery rather than business operations. We decrease costs for service delivery and expand access.

The senior care industry jumped into franchising with great force, and the opportunity can be traced to the aging population. According to A Profile of Older Americans: 2011 developed by the Administration on Aging (AoA), U.S. Department of Health and Human Services; By the year 2030, one in five Americans will be a “senior citizen.” From 2010 to 2030, the number of baby boomers age 65-84 will grow by an estimated 80 percent while the population age 85 and older will grow by 48 percent. In addition, between 1994 and 2020 the nation’s population of 85 years and older is projected to double to 7 million, and then is projected to increase to 19 – 27 million by 2050. With the number of prospective clients growing exponentially, the franchise home health care/senior care industry is booming and will likely continue to grow.

Other health industries such as emergency care, dental services, chiropractic care, primary care, mental health companies, drug testing business and surgical centers are all growing in prominence in franchising. In essence, any effective healthcare business can replicate its model and begin franchising.

I do not believe we can or should solely rely on the federal government to provide us access to affordable health care. We are a country full of the entrepreneurial spirit and we house some of the best health care providers in the world. When you combine these traits, we have the opportunity to develop great health care franchises that will solve many of our cost and access issues. These solutions are right at our fingertips.

Weise Communications, along with Faegre Baker Daniels and Management 2000 will sponsor the second annual Franchising in Health Care Conference, October 24 – 25, 2012, in Denver Colorado. At this conference, we will cover challenges unique to this industry, including compliance and regulatory issues when across state lines. If you are interested in attending this conference visit our conference site for more information. http://www.franchisinghealthcare.com/ Hurry, the Early Bird pricing ends September 15, 2012.

For more information about how Weise Communications can help your health care company franchise, contact me at tracy@weiseideas.com.




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