Health Care Market Essay

662 words - 3 pages

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Healthcare Market

It is well known that people living in rural or country locations are not readily able to access convenient health care options. One such option that could be beneficial for both investors and the public living in a rural or country setting would be providing a medical clinic located within the rural or country area.

The scarcity of medical facilities in one of these locations would prove to be ideal for a medical clinic to be situated where the residents of these locations could more readily access the facility rather than drive anywhere from 30-60 miles further for the same attention. A medical clinic in this setting would need to be equipped to perform lab tests including drawing blood and taking x-rays. Splinting and casting of broken or fractured appendages would prevent a patient from being seen and partially treated and then have to drive to a far away location for the same ...view middle of the document...

Due to the remote location of the clinic, it may be more challenging to ensure that needed medications and medical supplies stay properly stocked. In the event the clinic is located in a part of the country where bad weather strikes, this may make it more difficult to have items delivered. This will obviously affect the supply and demand of certain services. In some cases, it may cause the price of items to rise especially if the clinic experiences an increase in prices due to the difficulty of delivery of items causing the shipping prices to increase.

The pricing for services and medicine at this location would need to be elastic. There will most likely be fluctuations in the number of patients seen during a given time frame in addition to possible increases in prices due to higher delivery costs for inventory items. This may result in a decline in the number of patients coming to the clinic who may choose to wait for medical care until it is at a more affordable level. Pricing will have to be carefully considered in order for the clinic to maintain its patient base and to achieve a profit.

The importance of the services that such a clinic could provide to residents of locations that are not close to an urban setting is great. People in rural settings still need to obtain medical care and advice and can do so much more readily if there are facilities made available to them nearby. These same people would be more likely to seek medical care, even if it is only for a routine check-up if they do not have to drive long distances to see a doctor or get a prescription filled. Investors would be wise to consider such an option. Although the return on their investment may not initially be great, it could grow to be quite large, especially if the clinic provides up-to-date and quality care to its patients. Word gets around and if it is good, then more of those rural residents will seek out medical care at the remote location rather than drive long distances to obtain it elsewhere.

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