Imagine going to see a physician in your neighborhood, between grabbing a coffee or getting a haircut. Hitting an appointment with the physiotherapist next door, and picking up medicine nearby.
Add to that an adjacent yoga studio for preventive care. Sounds nice, right? And does it sound a little impossible?
Well, we’re here to tell you this: it’s becoming more and more possible. As the medical world is going through reform, real estate evolves, putting medical offices in retail. Creating – “medTail”.
Today I’ll try to give a closer look at the “medtail” concept. Let’s dive in.
Capitalizing On Sinergy Of Retail And Healthcare
The medtail scenario sounds so convenient. This is mainly because health spots are located in the very storefronts, but now – they’re gaining the possibility to be viewed as corner shops and drive-in centers, or walk-ups on your way home.
The fuss behind “medtail,” is the notion of medical practices that are taking cues from retail and filling its vacancies. Researchers say that this year’s most anticipated ongoing trend in commercial real estate is this retail shift.
But it’s not a new concept.
Although “medtai”l is generating buzz swiftly, as more investors capitalize on the synergy emerging in retail, the surge in healthcare strives to deliver a new use for vacant retail storefronts.
This can solve three problems, simultaneously:
- Retail owners get to remedy leasing vacancies.
- They also get to redevelop their assets.
- Medical and healthcare startups can satisfy a growing network.
It’s simple. Consumers demand more care and convenience today more than ever.
Let’s see an example of “medtail”…
Got a Case of a Vacant Mall?
Medtail Will See You Now…
The main driver of the medtail trend is the overall change in retail. Overbuilt and overcrowded retail areas (and online shopping sprees) have created opportunities for anybody.
Really, investors are getting creative. Increasingly competitive is the medical world; hospitals are doing that.
Retail landlords are seeking new uses for vacant spaces. They started looking “the other way” long before the coronavirus outbreak.
Medical systems have also been planning how to innovate. This is only one of the new ways to reach out from ancient medical campuses and office buildings and reach a network of consumers seeking convenience in their own communities.
Players behind this push are predominantly healthcare systems of private practices. They are looking to float their name off-campus into suburban areas. This can help them source more revenue, drive more referrals, further connect doctors to communities, etc.
Being out in the neighborhoods really allows you to drive this initiative as a marketing tool, too.
Why Now?
People in the medical niche saw the pandemic as a perfect opportunity to move forward with some of the “medtail” plans.
What Other Sites Besides Malls Are Seen As Useful
Investors are looking at “sidewalk” stores as most useful for the “medtail” saga. Strip centers, shopping malls, and obsolete “big box” retailers (like Kmart) are basically seen as the most useful.
These sites are positioned to help people get things they need. Now more than ever the need for immediate access to healthcare (both mental and physical) is crucial for society.
“Medtail ” is thus a salve for all the things that aren’t a medical emergency or require a big medical procedure. It mostly targets things that you can but shouldn’t need to go to a hospital for.
It’s about gaining trust. If you’re already going to an “X” clinic that’s in your neighborhood, you are much more likely to then go to that same hospital for follow-ups, and look for the same doctor.
The healthcare world severely struggles with the continuous building and residing in large, acute-care facilities.
Retailers (or, retail spaces for that matter), on the other hand, are really good at having multiple locations. They have a seamless experience. They deliver a message that works across multiple locations and they are getting the public to trust them.
Successful healthcare and health-related businesses pair well in a neighborhood where the tenant mixes are much like retail.
No one talks about how judicious it is to set up a Best Buy right next to a Home Depot, because that’s a well-trodden territory in the industry.
The next level of detail in “medtail” is when real estate investors start talking about that kind of synergy. Just imagine that drive between an orthodontist office and a SmileDirectClub store. IPG can help you maintain that synergy.
