How we use demographic data
Demographic research helps us determine which markets are comprised of your target patient base. Once you have determined exactly what that target base looks like, we can identify locations that offer the best opportunity for you to be successful. We can access key data such as:
- median age
- population diversity
- number in household
- number of dependents
- annual dollars spent per household on medical
Our software allows us to create a report from an intersection to an entire zip code or farther. We generally run reports from a specific spot to identify markets within one, three and five miles. Although some people are willing to drive farther to stay with a doctor they like, most people won’t travel more than five miles: this is the area we focus on.
Demographic software limitations
It’s important not to rely just on software; demographics data can get old and may not accurately reflect recent market changes. We use demographic information in conjunction with personal market knowledge. Our relationships with local and national commercial developers help us identify where the growth will be occurring.
Protect your investment and your success by choosing a real estate adviser who works exclusively with medical professionals. Call Sean Regan and the Syncore Medical Realty team when you’re ready to explore your options.