Urgent care centers provide immediate healthcare for non-life-threatening illnesses or injuries, similar to emergency rooms. They have tools to treat patients and are often in-network for insurance. These centers are designed to provide efficient medical attention for conditions that cannot wait for a primary care appointment but are not severe enough to warrant a visit to the emergency department.
Cost and Profitability
In 2016, the average cost of an urgent care visit was $242, while the average payment received per visit was $123. To break even, a clinic typically needs to see about 25 patients daily. Offering extended hours can also increase profits, as can billing insurance for visits, services, and procedures. The median charge for a 30-minute insured visit was also $242.
Successful urgent care clinics report requiring 12 to 23 daily patients to break even, depending on the region. Given these figures, the average annual income for an urgent care center is estimated at $2.1 million. Opening an urgent care clinic costs between $850,000 to $1.5 million, with franchises like Advance Urgent Care offering affordable nationwide opportunities.
Market and Demographics
When establishing an urgent care, research on location and population demographics is crucial. The use of urgent care-specific software can improve workflow, leading to faster patient service and an increase in volume and patient satisfaction. The average urgent care clinic sees 357 weekly patients, with an income of approximately $118 per visit, equating to around $2.1 million in annual earnings.
Considering the global urgent care market is projected to be worth $35.5 billion by 2028, owning an urgent care can be profitable. However, it requires thorough planning, careful execution, and hard work. Steps to launching a successful urgent care business include market research, creating a business plan, devising a marketing strategy, establishing a website, and more.
Research, quality service, and strategic management are key to growing urgent care businesses, which aim to provide convenient, moderately-priced care while reducing unnecessary medications, imaging, and empowering patients.