What is Urgent Care?
The Urgent Care Industry is a rapidly-growing sector of healthcare that provides cost-effective, convenient medical services for low-to-mid acuity illness or injury. A majority of urgent care centers are open seven days a week, 12+ hours per day and treat an average of 40 patients daily. Common conditions treated include fevers, upper respiratory infections, sprains and strains, lacerations, contusions, and back pain. Most centers have resources to treat fractures, administer intravenous fluids, and process lab tests. Services are available without an appointment and most insurance is accepted. Urgent care centers accommodate patients whose needs are beyond the scope or availability of Primary Care Physicians (PCPs), but are not required to be treated in an Emergency Department (ED).
Urgent care centers provide a high level of care, cost-efficiency, and convenience that is unmatched by PCPs and EDs. PCPs generally require advanced appointments and lack the resources to provide mid-acuity care, such as X-rays, stitches, and lab testing. EDs provide higher acuity care to patients, but are frequently subject to overcrowding, long patient wait times, and high costs. Additionally, nearly 80% of patients who present at the ED do not require full emergency room capabilities and could safely and effectively be treated at urgent care centers. Although PCPs and EDs have an important role in the healthcare system, neither model adequately meets the public need for timely and cost-effective medical care.
Growth of the Urgent Care Industry has garnered strong buyer and investor interest. According to research analysts at BB&T Capital Markets – a premiere middle-market integrated provider of investment banking and capital markets services – the Urgent Care Industry ranked among the top five areas of interest for private equity investors in 2011. There are over 8,000 urgent care centers in the United States, with significant fragmentation of ownership and operations present across the market. Existing fragmentation creates a tremendous opportunity for consolidation – Millennium Healthcare Management has the experience, platform, and available capital to initiate consolidation and build one of the largest regional urgent care companies in the country.
| Primary Care Physicians | Urgent Care | Emergency Department | |
|---|---|---|---|
|
Care Provided |
- Preventative or ongoing, |
- Time-sensitive, |
- Serious illness or injury, |
|
Customer Service |
- Low Convenience |
- High Convenience |
- Low Convenience |
