Healthcare Real Estate in Rural America
The need for medical resources to meet local demand is especially high in rural communities, home to about 25% of America’s population but only 10% of its physicians. In these underserved areas, doctors and owners of medical real estate can make a profound difference in the local population’s health.
While the healthcare real estate market in densely populated areas is often saturated and extremely competitive, the rewards of rural markets are often overlooked — indeed, in these areas, a reserve of unmet need allows new practices to hit the ground running. Across the country, small-town physicians are considered leaders in their communities and many grow successful, relationship-based practices through positive word-of-mouth marketing.
They also tap considerable economic benefits, including the relatively low costs of owning or leasing real estate in these markets. By building or refurbishing buildings for clinical use in less-developed areas, medical practices can have an impact on the community that can extend well beyond providing health services. Local officials often take notice and become helpful partners to these practices, which may enjoy access to economic incentives.
Rural areas present challenges such as selecting a site with strong visibility and ample access for patients who may not drive or don’t have vehicles. Schedules and routes of public transportation would be an important tie-in to the right location.
Other challenges, such as staffing can be difficult. Practices that fail to attract enough physicians and staff can be strained as one of few providers to local residents.
For medical professional seeking a more rural medical practice location, connecting with healthcare real estate professionals for guidance is a smart decision. When you consider the experts in this field have more than 20 years in finding prime locations for doctors and dentists across the U.S. your sense of confidence is elevated.
It’s also a huge advantage that healthcare real estate professionals of this caliber also have a well-established relationship with architects, construction engineers, technicians and designers, all of whom may become needed components in your location decision.
Whether locating to the pastoral setting of rural America or the bustle of the big city, make sure you get the guidance you need from the people who very often know about prime real estate properties before they’re even on the market.