By: Christine Dura
Healthcare franchising began in the 1950s but recently the industry has exploded due to a variety of contributing factors including a large aging population and the emergence of the “empowered patient” who demands affordability and convenience from the healthcare industry. Medicine is morphing away from the idea of a one-size-fits-all model and towards a retail themed model where the individual consumer’s primary needs shape delivery methods.
Evidence shows that:
- Traditional systems are moving toward franchise models. Traditional health systems have realized that the healthcare franchise model isn’t going anywhere any time soon and this represents a new revenue stream in a fiercely landscape. As a result, corporate healthcare systems are adopting franchise models and leveraging their brands using healthcare franchise industry operations. Further, conglomerate healthcare systems are buying or partnering with existing urgent care health franchises to reduce competition in the market.
- Insurance providers are “buying in”. Despite a past unwillingness to reimburse insured patients who opted for urgent care treatment, today’s healthcare franchise model is so popular that most major carriers now cover these services as a matter of routine. Further, evidence of this zeitgeist change, was the 2010 decision by Humana to acquire the largest urgent care operator in the U.S., Concentra.
- The healthcare franchise industry is increasing because mergers and acquisitions are becoming the norm among the larger industry players. Additionally, smaller healthcare franchises can merge with private practices and larger entities with relative ease. This provides financial security for the organization along with a more stable patient base.
- Patient demands are changing and as a direct result is so is the way services are being delivered. Healthcare franchise models, like their retail counterparts, are built to offer diversity allowing for an organic footprint expansion. General urgent care can live with, or apart from specialized urgent care centers like; dentistry, orthopedics, and ophthalmology while providing affordable, convenient, care on-demand.
The healthcare franchise industry shows no signs of slowing its rapid growth which makes now an exciting time to be a part of a healthcare franchise. Smart entrepreneurs and clinicians will be entering this traditionally recession proof industry and bringing with them new and exciting business plans.
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.
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