Emerging Healthcare Cluster
When one thinks of the word “cluster,” a variety of definitions probably come to mind. Chaos, collection, illogical, group, disorganization and crowd are the most common. For purposes of this economic development piece, we are going to explore the Town of Collierville’s emerging healthcare cluster as defined as, “…geographic concentrations of competing, complementary, or interdependent firms and industries that do business with each other and/or have common needs for talent, technology, and infrastructure.” For example, when you think of Dalton, Georgia, what comes to mind in this regard? Carpet! Minneapolis, Minnesota? Cardiovascular equipment and services. Detroit, Michigan? Automobiles. Nashville, Tennessee? Hospital management. Boston, Massachusetts? Insurance and financial services. Basically, economic clusters with groups of related businesses and organizations within industry sectors whose collective excellence and collaboration provide a sustainable competitive advantage.
The Memphis area boasts a strong medical related community including St. Jude, Le Bonheur, Baptist, Methodist, Regional ONE, Saint Francis, Medtronic, Smith & Nephew, MicroPort, BlueCross BlueShield, West Cancer Clinic, and Gastro One. Within this overarching Memphis medical community sits Collierville with anemerging orthopedic and rehabilitative-therapeutic healthcare cluster. The continued expansion and development of this orthopedic/rehabilitative and therapeutic healthcare cluster will be one of our top economic development strategies as the Town continues to expand.
Base Businesses: Collierville already has a handful of orthopedic/rehabilitative and therapeutic organizations. Campbell Clinic, Collierville Orthopedics & Sports Medicine, Lendermon Sports Medicine, Saint Francis Hospital Sports Medicine & Rehabilitation, and OrthoOne Orthopedics and Sports Medicine are among the top orthopedic surgery and sports medicine practices in the region. Baptist Memorial Hospital-Collierville is one of only 45 hospitals in the nation to receive The Joint Commission’s Total Hip and Knee Replacement Advanced Certification, which recognizes world-class joint replacement programs. Complementing these first in class groups are numerous physical therapy organizations. Elite Level Performance, Rehab Etc Physical Therapy, Results Physiotherapy, Pittma Physical Therapy, and PT Squared, Llc provide the critically important rehabilitative follow up that is so important to quality of life.
Regional Hub Strength: As mentioned, not only is Memphis recognized as a
world-class medical community, our easily accessible central location allows clients from all over the region to venture to our area for a variety of medical services and treatments.
Aging Population – Retirement Area: Over the next 10 to 15 years, the two age segments that will provide the largest population spikes in Collierville will be young families in their 30s and aging Baby Boomers, people ages 60 plus. This demographic forecast, coupled with the emergence of senior-oriented housing in our community, perfectly positions our market for individuals requiring orthopedic/rehabilitative and therapeutic care and services.
Collierville is safe, accessible, and has an abundance of land zoned for these type of uses. This healthcare cluster has proven to be recession proof with tremendous historic growth. The orthopedic/rehabilitative and therapeutic healthcare cluster provides excellent employment opportunities and is considered a high-end industry. We will continue to support our base businesses and recruit like-minded and complementary groups in related orthopedic/rehabilitative and therapeutic technologies, trade associations, lobby groups, R&D, equipment, nutrition, and training.
Collierville… safe, great schools, wonderful neighborhoods, award-winning Town Square, parks & trails, first-class infrastructure, top shelf amenities, an abundance of strategic developable land, and an emerging healthcare cluster!
Source: Katke, Venkatesh S. Agriculture Development Innovative Policies. Lulu.com, 2016, p. 15.
John D. Duncan
Director of Economic Development
901-457-9325 Cell
jduncan@ci.collierville.tn.us
