Whether it’s emergency room services or urgent care, opportunities for business in the U.S. healthcare industry remain a viable investment class due to the significant spending among Americans.
In 2017, for instance, out-of-pocket expenses rose nationwide based on a report. Those in Utah spent the most at an annual average of $864, while spending in California increased the most to an annual average between $561 and $640.
While healthcare investments are a good business option, not anyone should dive into the sector right away. Numerous licenses and regulatory compliance pose some of the key hurdles, but the process is easier if you consider a franchise business model for urgent care opportunities.
An urgent care brand serves as one of the various options because the demand for such services has become more relevant. Emergency rooms, especially in rural areas, tend to be understaffed and overcrowded, which means patients with non-life-threatening conditions but require immediate care are often forced to wait for the treatment.
Another reason to invest in healthcare involves the total spending on healthcare in the country, which is the highest in the world. Per-capita spending in the U.S. costs more than $11,000 per year, which is noticeably higher than just $355 in 1970.
However, a higher budget doesn’t always translate into quality care. This applies in Texas and Louisiana, where people spend the most on healthcare yet receive among the worst quality of healthcare in the country. Some experts believe that there should be changes in how Americans pay for healthcare to solve the current problem.
Like food, the demand for medical care in the U.S. will remain a necessity despite the steep cost. If you’re planning to tap into the growing demand for urgent care services, it’s best to consider a franchise model for a higher chance of success and survival for your business.