Doctor Demographics
Doctor Demographics
I write about where to put a practice, the market conditions that are influencing the places where dentistry works best, and the trends that are helping or inhibiting practice.
Scott McDonald

Niche Practice Locations

Niche Practice Locations

11/2/2022 6:16:30 AM   |   Comments: 0   |   Views: 88


As spaces for ideal practices become more difficult to locate (not to mention more crowded and expensive) finding a place that will serve all patient-bases is a growing challenge.  Rather than locate the perfect place, doctors are encouraged to create practices that will meet the needs of more "specialized and specific" market segments. Thus, it makes sense to consider a "niche" practice."
 
It is not so much that the doctors have to find an "edgy" approach to medicine and dentistry. They only need to find a patient population that is large enough and identifiable to pay the bills.  In this episode, we consider market segments such as culture, language, nation of origin, demographics (age, education, income for example) or psychographics (lifestyle and "values") that would not necessarily be one the radar screen of all practices.  As an example, Armenians, different religions, political or professional groups would work well.  If the local population has these people in sufficient numbers, a niche could be identified and the practice can proceed to promote its services to them.  Additionally media consumption (advertising) could be planned that would meet their needs exactly.  Granted, not all clinical needs would have to vary. Still, they could be sifted to meet their needs and interests.
 
In the end, healthcare practice may be able to thrive by identifying the common interests of a very specific segment of the population rather than trying to be "all things to all people.
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