If you are in the market for a medical center lease, undoubtedly you’ve wondered how these leases differ from a traditional commercial lease. The spaces look different, their locations are sometimes atypical, and the requirements and ease of access vary significantly from your standard storefront. In order to understand what makes a medical lease different, considerations for the types of medical services should be taken into account first and foremost.
Your patient access requirements should drive your location decisions
Is your medical practice going to operate on a standard 9 to 5 schedule, or is it going to be available at varying hours? If you will have emergency personnel entering your facility, applicable noise requirements in specific zones inside city limits can dictate your operational hours. Those same emergency vehicles have their own access needs, with height requirements, dedicated parking, and access to electrical drops to charge needed equipment inside the cab. Understanding what type of medical facility you run, the types of vehicles that will use it, and the zoning and access needed will help you narrow your search for a suitable medical center location.
Where are your competitors and complimentary businesses?
For a medical practice, knowing where and who is already providing the service can be as critical to the facility type. Setting up shop in a facility where you have multiple competitors already inside the space or down the street can prove calamitous for a new business, so performing some due diligence prior to siting is critical.
In addition to general siting questions for your business, it helps to know area metrics and existing service providers in the medical space. Care agreements between area health systems could exist, constraining a completely open market in various health sectors like dermatology, orthopedic services, and rehabilitation. Understanding your opportunity goes beyond simple market analysis, requiring a little research on who is serving the community and what agreements may exist. You can find lists of preferred providers on area health system or hospital websites, or you can engage area providers and ask if they are in service agreement.
So what does the Parkersburg WV market look like?
The Parkersburg West Virginia area is a great market for a host of medical service providers, and available spaces exist within several high traffic corridors. From a health perspective the Parkersburg Vienna Metropolitan Service Area (MSA) comprises a population of over 85,000 with more than 40,000 of those being in Parkersburg alone. The MSA is served by Camden Clark Medical Center, a voluntary non-profit hospital allied with WVU Medicine, with 300+ beds providing acute and emergency care. In 2020 there were 4 urgent care facilities operating in the area, 3 of which were affiliated with a national provider and 1 was privately operated.
In 2021 the MSA (Wood County) was included in a broader regional health needs assessment which included the neighboring counties of Calhoun, Pleasants, Ritchie, Roane and Wirt. The assessment revealed a challenge in facing care provision with demand in all counties, and licensed physician per capita count of 63.3 per 100,000 compared to a statewide average of 77 per 100,000. These factors are some of the lowest in the county, with the national average being 295 per 100,000. The Community Health Needs Assessment recognized the area as having a medical professional shortage and three counties specifically (Calhoun, Ritchie, and Roane having an acute shortage).
As a service group, the median age of citizens in the MSA is 42.1 years old, just behind the median age for the state of West Virginia (42.9) but ahead of the federal median age of 38.1. OF Of the adult class (ages 18 and above), 36% of those are considered obese and the average BMI for the region is 28.5. These factors coincide with federal statistics on obesity prevalence which ranks West Virginia number one nationally for obesity in those over 18 years old (40%) and number two nationally in excess body weight in those 18 and above (72%). In general cancer rates are declining but there remains higher rates of lung and bronchial cancers due to a higher number of cigarette smokers (27%) and a higher incidence of breast cancer. The latter may coincide with lower than average rates of mammography and overall access.
In summary the need for medical care within the Parkersburg Vienna MSA is incredibly high and conditions exist that will further that need over time. Combination factors of adolescent obesity, financial instability, and higher cancer risks couple to make the area a target market for medical facilities and general medical practitioners.
http://www.movhd.com/wp-content/uploads/2016/08/Community-Needs-AssessmentFINAL_BOHapproved.pdf
