70% of healthcare consumers deem location critical when selecting a provider or healthcare system. Primary doctors, who handle routine illnesses, have a broad and consistent patient demographic. As the go-to source for initial medical care, they require a medical office space that is convenient for their patients. Naturally, this applies to specialists too, who may have to consider their location even more carefully.
620 N LaSalle provided below some defining factors to help you find the best location for your medical office space.
Concentration of Competitors
Conduct market research to establish how many health care practitioners are operating in your desired location. It may be difficult to build upon your existing patient base if you’re not already operating in the area. Patients form long-lasting relationships with their professional healthcare practitioners.
However, having other physicians in the area with different specialties may be advantageous, as it can expand your referral network. While an area may be unsuitable for a general practitioner, it may be one of the best locations for dental practices, for example.
The average patient base for primary care doctors is roughly 1200 - 1900, depending on the size of the practice and specialty. Using this dataset as a bench is useful to determine how viable any potential location is.
Population demographics matter just as much as size. Larger populations correlate directly with higher patient ratios, but there’s more to it than that. Your specialty may attract a specific age group, so it's important to know these population statistics.
Age has an enormous impact on finding the best location for a medical practice. Healthcare professionals who prefer working with private payers rather than Medicare wouldn’t go looking for medical office space in a community with a large group of senior citizens.
Also, find out if the population is declining or growing. Typically, it’s easier to establish a practice in a community that is growing than trying to gain patients who have long-standing relationships with healthcare practitioners already in the area.
Many healthcare practitioners do not consider the traffic patterns of their potential clients. Is the location in a high-traffic area with limited parking, or is it close to a pharmacy, so patients can quickly get their medication? It’s pointless finding a space building that has ideal for medical office space in a bustling area of town if the traffic is disastrous.
Research the major thoroughfares within a 5-mile radius of the location and understand more about the business activity in the area. It’s still possible to set up an small office or even large office in a busy area if there’s ample parking or more than one road providing access.
Understanding the area’s economic demographics is also important. Upscale locations tend to attract wealthier clients, which may be useful if you’re a cosmetic surgeon, for instance, as this type of surgery usually serves patients with a higher pay grade.
Common sense prevails that medical office building criteria include a place for signage. Be sure to check signage regulations before signing any lease. If potential patients can’t see your practice from the street or at least from the lobby, then you may miss out on procuring new customers.
This is especially relevant for consumer-direct professions like the healthcare industry. Thoughtful signage attracts patients and sends a message about the business. Healthcare providers with no signage may reflect badly and give off a dodgy vibe.
Signage clearly communicates what type of medical service you provide and sets the tone for the level of attention and care patients can expect from you before they walk through the door. Digital advertising hasn’t quite eclipsed the necessity of well-designed and strategically positioned signboards.
A medical office space’s design should embody pristine cleanliness, both in the building’s exterior and interior. Patients will undoubtedly equate the physical appearance of your practice to the quality of your healthcare service. If a place is shabby or dirty, they will think the same about your practice. Wondering how to find and choose a medical office space that doesn’t present itself one way and turn out to be another?
When viewing properties, examine landscaping, lighting, and condition of the building. If you’re still unsure, chat to other businesses or the previous tenants to find out what the landlord is like. And evaluate if there's adequate space to set up everything your practice needs.
Cheaper rent doesn’t help if your medical practice has low visibility, which means you’ll have to allocate more budget towards marketing. A medical practice in a shopping center or nearby a busy street or any other beneficial location will automatically do the marketing for you. Can any office space be used for a medical practice? Yes, so long as it offers visibility, is in a strong location, and meets medical requirements.
As you can see, location, demographics, signage, visibility, and traffic play a crucial role in finding the best medical office space. At 620 N LaSalle, we have a variety of beautiful offices for rent. Located in River North with a plush tenant lounge, 24/7 access, and convenient on-site parking, our office spaces are perfect for your medical practice. Click here to find out more.
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