Hospital Feasibility Study

Market Survey and Feasibility Study for setting up a Healthcare Facility

Introduction
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

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:
• General Practioners
• Consultant Physicians
• General Surgeons
• Specialist Doctors
• 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
• Patient Satisfaction
• Treatment quality
• Doctor Recommendations on specialities and others.
• Location suitability
• Competition evaluation
• Format suitability – Primary, Secondary and Tertiary and if Tertiary
• Single Speciality
• Multispecialty
• Multi-super Speciality





• 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

Hospital Project Report and Business Plan

Our Latest Indian & International Hospital Feasibility Study, Hospital Detailed Project Reports (DPR), and Healthcare Due Diligence Study Clients

Case Study 1

100 Bed Speciality Hospital in Dharmapuri

We conducted the primary survey study in the catchment to explore and understand the market.
Aim: To explore and formulate the market Feasibility and Financial Viability of a Tertiary Care Hospital in the district. The district does not boast of a dynamic healthcare system as both public and private healthcare options are very few and underwhelming. The majority of the patients are travelling to Salem, Hosur or Bengaluru for major healthcare ailments and tertiary care services.

Findings: The study results accentuated the enormous prospect for a good healthcare provider who can alter the landscape of the district by providing key specialities that are not available till now in the catchment. Based on the findings, we derived upon the insights and prescriptive, predictive analysis was done and based on the same we recommended the clinical specialities along with the capacity planning required for this project.

Project Status: The project is in the developmental post-design stage and the hospital is expected to commence the operations by the end of 2023.

Case Study 2

1000 Bed Super Speciality Hospital in Jamshedpur

About the Project: This Hospital was being planned to address the urgent needs for High Quality, Tertiary and Quaternary Care Level Healthcare Services in Jamshedpur and Neighbouring Areas. This hospital is being formulated to suit those needs. The market Feasibility Study Identified and addressed the gaps and needs and stressed the requirement of a good hospital in addition to the iconic TMH already present in Jamshedpur.

Competition: To keep pace with this growth, the need for good healthcare facilities in this City has tremendously increased beyond what TATA Main Hospital, of the TATA Group, the largest Hospital in the City can cater to, making the residents look outside for treatment. The planned Hospital should also focus on differentiation and duplications to be offered to enable market-fit service delivery.

Primary Study: The primary study also highlighted the rarities, high incidence indices, and unavailable specialities. The survey investigated the distribution of cases by the city as well as the advantages and disadvantages of the competition.

Recommendations: Based on the findings from the original survey, we recommended a combination of Market Fit Specialties, and we designed the project's roll-out strategy with the needs and Medicaladvancements of the present and the future in mind.

Articles

Why Ensuring Market Feasibility is a Must for New Hospital Projects

There is strong consensus that smaller hospitals are under threat unless well planned and efficiently managed. Having said that, the role of smaller hospitals in national healthcare delivery in India is critical, with small to mid-level organisations providing the majority of secondary care and selective tertiary care, while large organisations provide tertiary and quaternary care services.
Large hospitals with a wide range of services are the exception rather than the rule, with most hospitals in our country having only 100-250 beds, which is considered a standard size of the hospital.
In the Indian setting, we must comprehend the distinction between 'smaller,' 'rural,' and 'remote' hospitals.' Read More.....

Why a Healthcare Feasibility Study a must as a part of the Pre-Planning of a Healthcare Facility

A healthcare feasibility study is a process that involves evaluating the potential for a healthcare facility, such as a hospital, to be successful in a particular location. It typically involves analysing factors such as the local healthcare market, the competitive landscape, the potential patient population, and the projected financial performance of the facility.
Conducting a healthcare feasibility study can help identify potential challenges or opportunities that may affect the success of the hospital, and it can help inform decision-making about whether to proceed with the project. Read More.....

How to uncover blind spots while planning a new hospital

To prevent accidents, a skilled driver would like to eliminate blind areas when driving. Similarly to this, when planning, executing and managing a hospital project, promoters encounter numerous blind spots. It is the job of project consultants like Acme Consulting to focus on eliminating blind spots during project planning to prevent catastrophes that might jeopardize the project. There are several potential blind spots that can arise when planning a new hospital, including: Read More.....