A Location Evaluation Framework is a structured methodology used to establish a geographical footprint by assessing or ranking various locations based on specific set of parameters and factors. The goal is to determine the most suitable or strategic location(s) for specific activities or investments to create a robust healthcare and life science ecosystem.
Healthark has delivered numerous successful projects by leveraging this framework on local, national, as well as global location prioritization.
Location Evaluation Framework
Locations are evaluated through selected category/ies and based on a set of parameters. The 3 broadly classified categories are:
Based on the objective of the study, once the category gets decided, the parameters can be evaluated and weighted according to their importance, a final score or ranking can be calculated for the potential location of interest
Approach
We follow the steps listed below to create and apply the Location Evaluation Framework:
1.Define objective: clearly define the objective of location prioritization. These objectives could be related to cost optimization, market expansion, resource allocation etc.
2.Parameters selection: the parameters can be selected depending on the objectives. Once you categorize these parameters into industry wide, sector specific and company specific categories, you can then determine which one should be used for which level of evaluation
3.Assigning weightage: depending on the scope you can assign different scores or weightage to each set and sub-set of the framework for its more comprehensive evaluation
4.Data gathering: the data you gather can come from secondary or primary research and can be qualitative or quantitative
5.Sensitivity Analysis: assess the impact of changing criteria weightage or adding/removing criteria to understand how sensitive the results are to different assumptions or preferences
6.Visualization: create visual representations, such as maps, charts, or dashboards, to communicate the results effectively to stakeholders and decision-makers
Key use cases
1.Hub & Spokes: identifying spokes/subsidiaries of a hub. e.g. Supply chain management, diagnostic centers, clinical trials sites, telemedicine networks etc.
2.Collaboration: identifying locations that presents potential collaboration opportunities (popular in case of a rural set up), e.g. Sample collection, community health programs etc.
3.Direct Establishment: a first-time set up/establishment. The set-up could be physical or virtual like center of excellence (CoEs), Thematic Center, Global Capability Center (GCCs), Learning Center etc.
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