Management consulting and implementation services for both Greenfield and Brownfield hospital projects
Market survey for hospital project
- Primary & Secondary Survey
- Location Analysis
- Competitors survey
- SWOT Analysis
Market Survey is the first and prime most important activity to be done before you venture into any business. If you are coming up with a hospital, it is very much important to investigate into its requirement in the location you have identified. Many other factors to be considered are identifying similar facilities in the vicinity, tariffs of the services intended to offer, access to the location, socio-economic study of the local population. Most of the time, the promoters need assistance in streamlining these thoughts and conduct the survey in a systematic way.
Hospital Market Survey
Our hospital consultants bring in structured and systematic way of eliciting these details from the promoters, hospital administrators, community and help in refining the requirements. This information is crucial for deriving financial feasibility report.
Where Market Survey is not needed…
In some cases Market Survey may not be needed to decide on whether to invest into a new hospital or not.
One who is confident
- on seeing good number of patients in their locality, and understanding the
- on establishing small size hospital or nursing home to cater his patients
- pulling doctors to help them in covering other specialities
One can take risk in smaller venture and but if it is big, we advise systematic Market Survey to check on potential challenges.
Is Market Survey mandatory assignment before venturing into a hospital business?
Definitely not mandatory. But doing this assignment will help you understand the potential challenges that you could face. Sometimes it will even warn you not to venture after understanding the ground reality. Evidence based practice always says that it is worth doing before venturing into the project.
Is it worth trying to do a detailed market survey?
Ideally, a detailed market survey that includes analysis of the data using research tools is advisable. Since it is time-consuming, most of the promoters wish to do a dip-stick survey to understand a glimpse of what market needs. Consultants and promoters sit across and define the methodology and accordingly carry on with the assignment. It is definitely worth doing because to avoid last minute surprises.
What all you do in market survey?
We define the methodology and usually it includes systematic interviews with key doctors, general practitioners, medical shop owners, the community and key social influencers. We try to understand the real requirement of such healthcare facility and also access other healthcare providers offering services in that region.
We also investigates into the population health and the socio-economic status of the community. This will help in defining what kind of facilities to be brought in the new hospital and also to derive price for each of its services