We’ve all heard it before: location, location, location. This is especially true for medical practices. It’s arguably one of the most important decisions you’ll make for your practice.
While a location that isn’t exactly ideal may save you money on rent, you’re more likely losing money by sacrificing the advantages that a prime location can offer.
Factors to consider
Whether you’re just starting a new practice, moving locations or expanding, make sure you consider these aspects of your practice’s location.
Keeping a medical practice running smoothly is one of the hardest challenges office managers face today. Having to juggle various administrative burdens while keeping your office fully staffed and maintained often takes a backseat to acquiring more patients.
Ensuring your patients’ satisfaction means tending to their worries and woes. The best way to do that is to have a staff that’s attentive, available, and extremely knowledgeable. Your staff must be willing and ready to meet with their patients one-on-one, give accurate and adequate information and offer each patient peace of mind.
How can you make that happen? Easy, follow these six tips.
A millennial healthcare experience
A 25-year-old man goes in to see his doctor. He has a series of questions about symptoms he has and a few ideas of what could be wrong based on online research.
The doctor examines him, and she quickly rules out a couple of the man’s suggestions but finds one is a real possibility. She decides to order some blood work to confirm, submitting the order on her tablet. Then, she adds a few notes to the patient’s electronic chart.
The next day, the patient receives a text message notifying him that his test results are now available in his patient portal. He quickly logs in and reviews the info. It includes a message from his doctor, outlining a brief plan of action and direct contact number for any questions.
Sound familiar to you?
This is the landscape that every healthcare office either has entered or will enter in the near future.
As the adage goes, “Timing is everything.” This applies to real estate as well, especially when you are searching for that perfect place for your medical practice to call home.
How do you know when to start? You don’t want to be the little piggy that went to the market too early or too late. Too early, and landlords or sellers may not negotiate with you yet, or they’ll expect you to be ready to move forward immediately. Too late, and things get real expensive real fast.
The reality is that most people underestimate how long it takes. Set yourself up for success by understanding how long different transactions take. Here’s a breakdown of timelines for the most common situations and how to navigate them.
Healthcare security threats are ever-changing and ever-growing. And so are their associated costs. The costs of healthcare data breaches are among the highest of any industry. Each breach costs $380 per record — or $6.2B globally.
With 90% of hospitals reporting a breach, the risk of facing these costs is all too real.
You wouldn’t perform surgery on yourself, would you? Whether you’re negotiating a lease renewal or looking for a new space, believe it or not, you won’t save money by eliminating the middleman. In fact, you may cost your practice more.
Another thing to keep in mind is that there is a commission pool built into most lease deals comprised of rental funds. If you don’t hire a broker to represent you, the landlord’s broker or leasing agent will take the full commission. If you are represented, the fund is shared with your broker or agent. Either way, the commission comes from the pot, not your pocket.
With the cold days on their way out and warm spring and summer months fast approaching, it’s time to do a little spring cleaning to prepare for a busy season ahead.
Making sure that your medical practice is clean, tidy, and organized not only presents a professional and reassuring appearance for your patients, it also helps to keep your staff productive and on task.
When everything has a place and everything is in its place, both efficiency and quality of care are improved. Here are a few things to keep in mind as you prep for the big cleaning day.
Every dental office is different and provides patient experiences in individual and authentic ways. But there are some things that should always be considered- if not mandated- for a successful practice. Here are a few “must-haves” every dentist office should strive to provide.
Maximize Communication and Space
Remember that whether you own your office or lease the space, you’re still paying for every square inch. So it’s important to use that space in the most efficient and productive manner possible, with no areas that are wasted. Your design needs to help your staff communicate both internally and externally with patients as well as labs and suppliers.
After years of hard work, it’s time to expand. You’re a successful medical or dental practice and you’ve decided it’s time to lease new office space. Because it’s one of the largest expenses, choosing the right office space is a major decision that can impact your practice in multiple ways. The following five questions are a great place to start.
1. How much space do I need?
Having the wrong-sized space – either too big or too small – is the biggest pitfall. So, first ask yourself if you’re downsizing or planning for continued growth. To assist in determining your current and future needs, you may want to enlist the services of an architect to help with your decision making. They will be able to evaluate your current office, gauge your likes and dislikes, and determine the inefficiencies that may occur from your current design. Just as important is choosing an architect that knows medical design and current practice trends and one that will understand your unique office flow.
Building a successful medical or dental practice is hard work. Moving your practice could prove equally as challenging. If you’re an established practice currently considering relocation, you should start a must-do checklist right now. Here are four critical tips to get you started:
1. Rent or Own
Moving any office is challenging enough, relocating a medical practice is even more so. Your first logical step is deciding whether you plan to own or lease. Either scenario involves having the right information to make more informed decisions. So, next on your checklist is to partner with an agent or broker specializing in medical real estate office space. These experts can guide you at every step starting with helping you explore options that could lower the purchase price or rental rate.
2. Ideal Location
Finding the right office space also means finding a location that fits your needs. Are there convenient parking facilities for your patients, staff and suppliers? Is the address close to public transit? Is the building accessible by design with features like elevators, handicap-accessible ramps and restrooms? Another consideration to keep in mind is many older buildings don’t have the required infrastructure to support your high-tech needs.