Orthotown October 2017 - 38
"When I say,
'Is the site an
instant winner?'
I'm asking
whether the
patient base
will be attracted
to an office at
this site."
Is the area growing?
All growth isn't the same, of course,
but as a rule of thumb, an area that's growing
in population will always be preferable to a
location that's shrinking, regardless of other
demographic factors such as age, housing
type or creditworthiness. A growing location
with a great deal of poverty is still a better
choice than a more affluent one that's losing
population, because as a community loses
population, the ratio of populace to doctors
will get worse and existing practices will be
fighting over an ever-shrinking patient base.
Is there sufficient
population to serve
as a patient base?
We've researched many locations that
have a great "pocket" of potential patients
but not enough to support a full-time
practice. If you intend to treat patients four
days per week, for example, but there aren't
sufficient people to reach that threshold and
growth doesn't look like it's going to reach
that number in a reasonable time period,
you need to select a more populated area.
Orthodontists need lots of teeth to treat; it's
simple math. Don't let a small population
of outstanding potential patients blind you
to the fact that things aren't really going to
change. Production and collections are not
going to mitigate that.
38
OCTOBER 2017 // orthotown.com
Can you make
a living here?
This is a strange way to ask the question,
but it certainly takes into account the overall
observation on the site. Some locations may
have a wonderful patient base, and even
healthy growth, that won't work because
the site isn't profitable. We've studied sites
where real estate prices, lease rates or even
the staff costs are so high that profitability
would be elusive. We tend to put this in the
general category of risk: Is the site too risky
to make a profitable practice?
It's a point that should be considered if
orthodontists are looking at even a single
location, but is of even more importance
if they're comparing two or more locations-particularly in urban locations
with upscale populations. Some cities such
as San Jose, Seattle and San Francisco are
pricing themselves out of the market because
the square footage costs are becoming
prohibitively expensive.
To illustrate, recall from freshman
statistics that a median is always figured at
100. Anything over 100 is higher, or more
expensive; anything below is less expensive.
In San Jose, the index figure is 455-yes,
that means it's at least four times higher
there than in most of the United States. To
calculate it another way, the median home
price in San Jose is $900,000. That means
http://www.orthotown.com
Table of Contents for the Digital Edition of Orthotown October 2017
Orthotown October 2017 - Intro
Orthotown October 2017 - Cover1
Orthotown October 2017 - Cover2
Orthotown October 2017 - 1
Orthotown October 2017 - 2
Orthotown October 2017 - 3
Orthotown October 2017 - 4
Orthotown October 2017 - 5
Orthotown October 2017 - 6
Orthotown October 2017 - 7
Orthotown October 2017 - 8
Orthotown October 2017 - 9
Orthotown October 2017 - 10
Orthotown October 2017 - 11
Orthotown October 2017 - 12
Orthotown October 2017 - 13
Orthotown October 2017 - 14
Orthotown October 2017 - 15
Orthotown October 2017 - 16
Orthotown October 2017 - 17
Orthotown October 2017 - 18
Orthotown October 2017 - 19
Orthotown October 2017 - 20
Orthotown October 2017 - 21
Orthotown October 2017 - 22
Orthotown October 2017 - 23
Orthotown October 2017 - 24
Orthotown October 2017 - 25
Orthotown October 2017 - 26
Orthotown October 2017 - 27
Orthotown October 2017 - 28
Orthotown October 2017 - 29
Orthotown October 2017 - 30
Orthotown October 2017 - 31
Orthotown October 2017 - 32
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Orthotown October 2017 - 34
Orthotown October 2017 - 35
Orthotown October 2017 - 36
Orthotown October 2017 - 37
Orthotown October 2017 - 38
Orthotown October 2017 - 39
Orthotown October 2017 - 40
Orthotown October 2017 - 41
Orthotown October 2017 - 42
Orthotown October 2017 - 43
Orthotown October 2017 - 44
Orthotown October 2017 - 45
Orthotown October 2017 - 46
Orthotown October 2017 - 47
Orthotown October 2017 - 48
Orthotown October 2017 - 49
Orthotown October 2017 - Cover3
Orthotown October 2017 - Cover4
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