By: Christine Dura
The medical franchise industry has exploded over the past decade. From dental practices to urgent care centers and beyond, smart entrepreneurs and licensed practitioners are taking advantage of the increased demand for convenient healthcare. When it comes to franchises, the roadmap is simple: provide a needed service across a variety of locations with the same quality and relative cost. Medical franchising is no different. The consumer wants quick, convenient, and affordable healthcare on their schedule. Nearly gone are the days that a patient is forced to head to the emergency room for something as simple as a strong cough. Today, a multitude of medical franchises exist to fill this very need. But how does the outlook appear for medical franchises and the health industry as a whole for the upcoming year?
Aging Population
As a large portion of the population continues to age the demand for healthcare increases. By 2030, the percentage of people over 65 will have grown from 13% to at least 18%. This means the opportunity for medical franchises will likely see no limit. Combined with this aging population comes the focus on treatment as opposed to prevention. Those in this age group are largely overweight and suffer from a litany of comorbidities associated with age and weight. Instead of focusing on prevention, the focus stays on management of conditions and treatment. This is shown in the demand for healthcare – especially frequent, convenient, and affordable treatment.
Increase in Healthcare Franchises
Due to the aging population’s need for healthcare, the opportunity to create new and specialized medical franchises is at an all-time high. The trend only looks to continue this year and beyond. People are comfortable with medical franchises like the urgent care center but interested in finding specialized centers that provide healthcare for other needs. Convenient care centers offering orthopedic specialization or a focus on geriatrics are prime to spread throughout the country to serve an aging population. In addition, franchises providing home healthcare or day care for elders are popular but will likely find a resurgence as this population begins to require these types of care.
Healthcare for Business People
With the advent of the medical franchise, you don’t specifically need to be a healthcare professional to get into the industry. Entrepreneurs can find more efficient ways to allow licensed physicians to provide quality healthcare. Franchise owners will focus on the backend of the business while physicians can truly focus on patient care. Without the stress of running a business, physicians can focus their time and energy on cutting edge methods of treatment for the aging population.
The bottom line is there is even more growth in store for the medical franchise. The aging population plays heavily into the opportunity for the healthcare franchising industry. From offering home healthcare services to providing specialized care for a specific set of the population, opening the right medical franchise will be relatively easy in the coming future.
OrthoNOW is the first and only Orthopedic franchise. Contact Christine Dura at Christine@orthonowcare.com for more information about franchise opportunities.
Christine has over 25 years of quantifiable executive management and franchise related leadership experience within the US and internationally with notable franchise startups in the service, technology, retail, food, health and wellness, financial service, medical care, technology and professional services. As a Senior Franchise Executive and Entrepreneur, Ms. Dura has been both an individual contributor and has successfully led world-class teams.
Ms. Dura excels at partnering with all core business operations to significantly increase the company’s foot print, expand market share, and generate sustainable revenue and EBIT gains. Her proven successes, combined with her Master Degree in Training and Development, have shaped Ms. Dura’s uncanny ability to identify opportunities, build mutually rewarding partnerships and produce remarkable results.
In addition, as a four-time Master and Unit Franchise Owner, Ms. Dura is in a very unique position to leverage her experiences and reputation at all levels in franchising along with her vast personal and professional investor network to drive immediate and long term results. As OrthoNOW’s Chief Development Officer her role is to identify critical gaps in franchise growth and implement strategies to drive results. Her unique background allows her to leverage past experiences and solid reputation to spearhead OrthoNOW’s national expansion plans.