Market Survey and Feasibility Study for setting up a Healthcare Facility
A Hospital Feasibility Study is the best way to find out the sources of patient flow to the Hospital. The Feasibility Study comprises both a Market and Financial Analysis of the Project and is an essential aspect to be considered either while establishing a new hospital or a new facility in an existing hospital or expanding the existing hospital.
Objective of carrying out a Market Feasibility Study for a Healthcare Facility
Format suitability, whether if Tertiary - Single, Multispecialty or Multi-super Speciality
Evaluating the suitability of the proposed facility location
Identifying the right Specialities to be provided by the Healthcare Facility for the location
Understanding the Critical Gaps in the Private Healthcare provided in the planned catchment by the key factors that Doctors in the area look for from such Facility
Why and How Hospital Feasibility Study Done?
Carrying out a Market Feasibility Study helps
New investors looking at opportunities in Healthcare delivery space
Completing a thorough competitive analysis given the healthcare service lines being explored.
Carrying out a demand analysis for the space or medical services provided by the proposed facility
Projecting the trends that are shaping what these markets will look like in the future
Funding agencies in examining infrastructure investment in regions with less healthcare facilities
Overseas players wanting to replicate a successful chain model in India
Medical Suppliers looking to penetrate the Corporate Hospital market
Preparing Detailed Project Report (DPR) based on Market Analysis
Methodology & Approach to a typical Hospital Feasibility Study
Establish the Doctor Group to be surveyed depending on the preferred specialities. To include:
Use a combination of Qualitative Surveys & Quantitative Surveys. The Qualitative Surveys being free flowing interview taking about 45 minutes for each Doctor and Quantitative Surveys, based on a more structured approach taking about 30 minutes for each.
Survey will be structured to evaluate the prospects for the new Hospital based on the following factors.
Adequacy of Hospitals with these specialities in the Core Area
Quality of these Hospitals based on
Facilities & Infrastructure for handling advanced treatments
Doctor Recommendations on specialities and others.
Format suitability – Primary, Secondary and Tertiary and if Tertiary
Results that can be expected from our Hospital Feasibility Report
Format recommendation: To begin as a Multi Specialty Hospital and then transform into a Multiple Super Speciality.
Super Speciality recommendations like
Secondary care speciality recommendations
Supporting specialities to complement the specialities offered and cater to the general needs of the area.
Business model recommendations : Corporate Image model, Speciality driven
Building Healthcare Facilities for the Future, that are Patient Friendly, Safe for the Patients, Visitors and Hospital Staff, Energy Efficient and Environment Friendly.