The elective medical is on path for a substantial rebound as the post-COVID world emerges. The market size rebounded from 2020, by posting a 20% increase in 2021, which is a 2.4% increase over 2019. Looking forward, the industry is expected to continue this growth through 2030, posting ~10% annual increases in revenue growth. The back log of elective procedures caused by COVID, has grown significantly since the start of the pandemic, and as this pent up demand will present an amazing opportunities for clinics and doctors alike. But how can they maximize this revenue flood?
Elective medical clinic owners will need to be more educated in their marketing and site selection in the years to come if they are going to be able to compete in a continuously more crowded market. Those that are the most successful will leverage predictive analytics consumer behavior to define their marketplace, competition, and how to win marketshare in a competitive environment. By utilizing who or a , clinics are able to define their and where they live. But what if a clinic wanted to get a better sense of the total marketplace by leveraging who is ? By using GPS data sources and predictive analytics, clinics can now know who should be visiting their .
This knowledge allows for more informed decisions around marketing analytics, marketing ROI, and new site selection. Traditionally this sort of data analysis has been contained within the fortune 1,000 company group. However, increased competition in the industry and expanded access to predictive analytics will allow clinics to make more informed decisions in the future.
Vado is a pioneer in this space for vets, we help local clinics determine where and who to market to, how to win their competition, and where expansion locations should be opened. Let’s schedule a demo and get started!