As a medical landlord you not only want to create a high-value space for your tenants, but you want to ensure your space is delivering the best possible ROI. By reimagining your building as a “healthy” building, you can achieve both.
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How Your Specialty Affects Your Medical Lease
As a physician, the lease on your space is one of your largest overheads. But your anticipated costs can vary dramatically depending on the size of your practice and the equipment and technology you require on-site to fulfill patient needs and expectations. Let’s take a look at how your specialty can affect the terms of your lease.
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Exit Strategy: Tips for Selling a Medical Practice & Building
Whether you’ve been affected by the COVID-19 pandemic, are thinking about retiring, or are keeping an eye on the trend towards consolidation, you might be thinking about selling your medical practice – now, or in the future.
Here’s what to keep in mind for when that day comes.
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Five Reasons to Review Your Medical Practice Office Lease
The office lease for your medical practice is one of your biggest overheads. Fortunately, although the terms of your contract may seem cut and dry, there’s always room for negotiation. And given the enormous shifts in the market due to COVID-19, you may have more leverage than usual. Here are some of the reasons you might want to review your lease.
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Renewing Your Medical Office Lease: How to Get the Most Out of Your Lease Renewal
A commercial lease renewal option is always a good card to have in hand. It gives medical tenants an opportunity to consider where their business stands, and how well the terms of their current rent agreement reflect the current market, and the power to negotiate accordingly. Remember, a lease renewal option is a starting point – it’s not carved in stone. It’s up to you to make it work in your favor.
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Rethinking Your Healthcare Space Post COVID-19
When first faced with COVID-19 in early 2020, doctors sprang into action as they attempted to find new and workable ways of triaging patients, treating the illness, and minimizing its spread. However, in-patient visits plummeted as patients either avoided routine care or opted for telehealth visits instead. This sudden drop in patient load left many clinics rethinking their real estate strategy. Now, some six months later, we have a much better handle on the virus, and in-person visits have largely recovered to their pre-pandemic numbers – although patients still remain wary of exposure.
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The Value of Medical Specialists –
in Medicine and in Real Estate
The past few decades have seen the rise of the specialist. Although many fields have seen a shift away from the “jack-of-all-trades” provider towards specialization, it’s especially pronounced in medicine, where specialists and even sub-specialists have become the norm. As a real estate firm focused solely on medical real estate, we see the parallels between what’s happening in medicine and the market shift we’re driving in our own field.
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A Healthy Environment Starts with a Healthy Building
When we talk about taking care of the environment, we’re usually referring to the outside world. However, with most of us spending the majority of our lives indoors – especially now – we should really be considering the value of a healthy built environment.
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Boutique Medical Realty Brokers Mean Big Results
It’s easy to be swayed by a name when deciding on a firm to represent your medical realty interests. More prominent names are often associated with clout, impact, and professionalism. But bigger isn’t always better, especially in an industry where personal relationships matter.
If your business is personal to you – and let’s face it, if you’re in medical realty, it is – then opting for a boutique firm instead of an industry giant can be a winning decision. Here’s why.
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Medical Office Buildings Are the New Mixed-Use Developments
We’re all familiar with mixed-use developments: large spaces that meld different types of buildings, and which function as a sort of community hub drawing people from all walks of life. While these sorts of developments have long been associated with commercial, retail, and residential spaces, we’re increasingly seeing the same principles being applied to medical office buildings (MOBs).
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Trend Watch: Medical Practice Consolidation and its Benefits
Is your practice considering merging with or acquiring another medical practice? You’re not alone. We’re seeing it happen across the board, from university systems to localized specialized physician groups working together to provide the right care to their patients. Medical practice consolidation is a great way to generate more revenue while combining overheads and reducing costs.
Let’s explore why medical practice consolidation is a hot trend.
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Leveraging the Patient Service Mix in Medical Real Estate
If you’re considering expanding your medical office, signing a new lease, or moving to a new office, it’s essential to examine the patient service mix of your area. This necessary market research will provide invaluable insight into patient volumes and potential demand for service, allowing you to make smart business decisions based on usable data. Having an understanding of the patient service mix will help you gauge resource needs in terms of space, staff, equipment, and accessibility.
Here’s how to go about it.
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