Demand for Urgent Care Facilities is Accelerating
They are convenient, usually located in high traffic retail locations and offer extended operating hours.
Increased investment in urgent care centers is needed as healthcare delivery models change and patients with non-life-threatening conditions opt for ease of access, according to a recent analysis by Colliers.
The analysis notes several data points to back up its message. The Urgent Care Association found that since 2019 patient volume has spiked by 60%, while Data Bridge Market Research has predicted a compound annual growth rate of 5.35% between 2022 and 2029.
In May, Zocdoc, the online healthcare appointment booking service, initiated bookings for urgent care on its platform for facilities in 22 states and more than 200 locations, with more joining each month. “In 2023, the volume of new urgent care facilities on Zocdoc has grown by an average of nearly 40% month over month and urgent care bookings have grown by an average of 80% month over month,”it stated.
“The industry is shifting toward value-based care and population health management, focusing on preventive and primary care services. Urgent care centers play a crucial role in this model,” Colliers commented.
The surge is being driven by the convenience and accessibility of urgent care centers which are often located in high traffic retail locations and offer extended operating hours, Colliers noted. They can be a cost-effective alternative to emergency room visits and provide prompt, high-quality care for non-emergency conditions. And as more Americans are able to access healthcare insurance and seek medical care, urgent care facilities can serve as an alternative to overstretched traditional primary care settings, Colliers contended.
Colliers cites the nation’s changing demographics and aging population as another argument for such centers. However, according to a 2022 UCA fact sheet, patients under age 40 are most frequent users of the services. Among patients who visited three or more times within the year, UCA reports 56% were ages 20-24, 45% ages 25-40, 26% ages 57-75, and 22% ages 75+. Zocdoc data echoes this trend: 40% of patients booking urgent care online were in their 20s, 33% in their 30s, and 26% were over 40 years old.
“The increasing demand for urgent care space underscores the importance of strategic planning and collaboration between healthcare providers, developers, and investors to meet the evolving needs of patients and ensure the efficient delivery of healthcare services,” Colliers stated.