What do the following terms mean within Buxton solutions?
Area Draw: Area Draw accounts for the presence of area businesses, institutions, and healthcare facilities that bring traffic and visibility to locations and have a positive effect on a potential facility or location.
BUDS (Buxton Urban Density Score): A measure of population density that describes the differences among highly rural areas and highly urban areas. Results are at the block group level.
Decay: Indicates a decline in value the further away from a potential site. For potential customers or patients, households closer to a site are higher value than those further away. For competition, the locations closer to a site have a higher impact than those further away.
DMA (Designated Market Area): A defined geographic region that is used to define television and radio markets. In the U.S., there are 210 DMAs.
Donut count: Measuring a specific data element for the drive time or other geography being assessed, minus a smaller geography (similar to a donut hole). Donut counts are used to account for effects where competitive proximity is either positive or neutral if a facility is very close but negative if farther away.
DRG (Diagnosis-Related Group): In healthcare, a classification system that groups patients with similar medical conditions and treatment needs into categories. Used for inpatient billing and reimbursement; maintained by the Centers for Medicare & Medicaid Services (CMS).
MDC (Major Diagnostic Category): In healthcare, divides all possible principal diagnoses into mutually exclusive categories. DRGs are rolled up to MDC; maintained by CMS.
Optimizer: Built on the foundation of a site score model, Optimizer is a Buxton solution that allows you to automatically assess the potential of a market and the ideal layout of the trade areas. It offers the ability to test scenarios using a minimum site score value and household overlap or cannibalization.
Penetration: Based on the client profile(s), penetration is the count or percentage of actual customer/patient households compared to the number of customer/patient core households.
Seed Point: All existing retail or healthcare points in a geography for a whitespace analysis or Optimizer analysis. These seed points are all assessed by a site score model to determine the best trade areas for growth that maximize customer/patient value and area draw, minimize competition, and minimize trade area overlap.
Value: Patient or customer value accounts for the density and presence of core patient households, demand, and key demographics.
Whitespace: Typically used for private equity buy-side or sell-side solutions, this analysis provides insight into the size of a company in terms of markets, location counts, and network-wide sales (if applicable) at maturity.
ZCTA (ZIP Code Tabulation Area): A geographic area created by the U.S. Census Bureau using entire census blocks, unlike USPS ZIP codes which are based on mail delivery routes and are typically dynamic.