“Research is to see what everybody else has seen, and to think what nobody else has thought.”  – Albert Szent (Nobel Prize in Medicine)

It is crucial for any business to have an in-depth market research done in order to understand the competitive landscape of the industry. Industrial mapping is one such method which gives a clear depiction of the market structure, key players and the trends in growth. Similarly, in case of hospitals and healthcare institutions, there are innumerable factors that need to be considered before its commencement.

We, as healthcare consultants, assist in one such study by conducting a market assessment. Our market assessment team consists of competent members who conduct research in the defined market area on the primary and secondary level. The primary research involves discussions and interviews with doctors and other healthcare professionals by means of detailed questionnaires and open-ended discussions. It also involves physical observation of the trends adopted by hospitals and healthcare clinics in the designated location. With the help of this primary survey, the healthcare seeking habits and the healthcare landscape of the area is defined.

The secondary level assessment involves collection of data from trusted online resources and government updated registries. This data is to corroborate the primary assessment and fill gaps that are present. The overall disease burden in the population is assessed and the preferred healthcare seeking modes are identified.

By building a correlation between the demographic data and the disease burden, the type of services that are lacking and are required in that area can be confirmed. Further, by examining the socio-economic outlook of the population, the risk of occupational diseases can be identified.

With the help of the primary and secondary assessment, and our domain expertise, a market assessment report is prepared which gives detailed information about the healthcare demographic, economic and social forecasts of the defined market area. These include health indicators, disease profiles, the healthcare infrastructure in the drainage area, competitors, capacity, service, and patient assessment, pricing strategies, overall business strategies and positioning among other critical points.

During our market survey, we also study the nature and structure of prominent hospitals in the periphery. This involves examination on various levels and considers factors such as the occupancy rates, reviews of patients, the level of technology used by the hospital, their tie-up and partnerships and their administrative work-flow. This allows us to position the proposed healthcare facility in a more meaningful manner that would allow it to serve the gaps in delivery as well as offer quality care.

To sum up, we build a social-economic and healthcare forecast of the desired locality, predicting the growth and need of the upcoming center. We ensure that our market research is structured and our inferences are realistic.