The aging population, along with the rise of consumerism in healthcare, which demands both convenience and accessibility, have impacted the way healthcare is delivered in the United States. Healthcare franchising, particularly within specialty health organizations, offers a unique pathway to rapid expansion and growth to deliver on that demand. Franchising leverages an existing business model and brand to deliver quality care across a broad geographic footprint.
As Peter Healey, VP of Strategic Accounts at Buxton, explains, "Franchising works really well for specialty organizations that are delivering a single type of health care. Dermatology, dentistry, physical therapy are great examples. It presents a great opportunity for professionals in the space who still want to practice what they love but don't necessarily want the hassles of dealing with the back of house.”
The Role of Buxton's Analytics in Accelerating Growth
Specialty health franchising is currently riding the crest of a wave, buoyed by an increased awareness among Americans about the benefits of wellness and healthier living. This has created a booming industry where franchise models can effectively deliver care to more people, faster.
In this rapidly growing industry, analytics and data-driven decision-making are important for success. "Buxton can help the specialty franchise organizations grow quickly by leveraging a lot of the same data sets that their multi-billion-dollar counterparts... are using. This helps to empower those franchisees to grow faster by using the same best-in-class information,” Healey explains.
Analytics, however, is only valuable if it is fueled by the right data. Identifying the right growth data is critical for specialty health organizations. As Healey outlines, "Understanding what the demand is for that specific service line or specialty that they're practicing is critical. Understanding what the payer mix looks like within any given trade area is critical... and clearly understanding the competitive landscape as well.”
With the right data and analytics, Buxton can support specialty health organizations with franchise development and territory management, offering tailored solutions that address the unique needs and goals of each organization. Moreover, by optimizing market layouts in potential franchise territories, Buxton ensures efficient resource allocation, helping organizations to prioritize their efforts around the most fruitful territories. It's a strategic endeavor that promises to improve performance and decision-making processes considerably. To explore further, visit Buxton’s territory planning solution and discover the products and services tailored for healthcare franchise development and territory management.
Buxton's analytics have already delivered proven results for specialty healthcare organizations. Healey shares, "Just a few success stories... include some [brands] that have started with us when they had 20 locations and they're operating 500 today. Another example is one who started with about 100 locations when they came to us, and they're now up over the thousand unit mark. They have said that [Buxton] has helped in a significant way in terms of accelerating growth.”
The franchising model, coupled with Buxton's analytics, offers specialty health organizations a unique opportunity to grow their operations rapidly while delivering quality healthcare services. Whether you're an existing professional in the space, a serial entrepreneur, or an investor, the time is ripe to explore the tremendous potential that specialty health franchising presents. The support provided by franchisors, combined with the analytical power of Buxton, can alleviate the burdens of back-end operations and allow healthcare professionals to focus on what they love most - providing quality care.
As the trends point towards the 'retailization' of healthcare, delivered with more convenience and accessibility, the storm is indeed perfect for specialty health franchises. Ultimately, the franchise model in specialty health, supported by robust and targeted data analytics, can help to scale an organization quickly. It's an investment that has proven fruitful for many, and with support and insights from Buxton, the journey for upcoming specialty health franchises is promising.