by amanda on January 18, 2012
Check out this upcoming webinar hosted by our friends at RE-Advisors! Carol Levin has provided guest blog postings for Curasalus and has years of experience advising top health systems on real estate matters. She will be presenting some great basics for hospital and healthcare administrators to help you navigate the real estate issues you may be facing in this era of ACO’s and physician practice acquisition.
Healthcare organizations are increasingly relying on off-campus facilities for the delivery of services to patients. Involvement in decisions about real estate opportunities is often a new experience for administrators, involving unfamiliar concepts and terminology.
Webinar Objectives:
This short overview course introduces healthcare administrators to the fundamentals of a commercial real estate transaction. Participants will become familiar with:
The basic players in a real estate transaction
A glossary of common real estate terms
Lease types
Forms of ownership
Areas of financial risk
Areas of control and responsibility relevant to a healthcare tenant
The relative risk and reward profiles of owning versus leasing a property
Target Audience:
This is an introductory level course, suitable for healthcare administrators of all levels involved in decisions and negotiations regarding off-campus facilities.
To register, click here: https://cc.readytalk.com/cc/s/showReg?udc=jv3zt9znhyw2
Carol Levin is the Founder and Principal of RE-ADVISORS, a
real estate consulting practice servicing the healthcare industry. To learn more about RE-ADVISORS, and read past issues of REAL ESTATE INSIGHTS FOR THE HEALTHCARE INDUSTRY,
visit www. RE-ADVISORS.com, or contact Carol at:
clevin@re-advisors.com
by amanda on November 4, 2011
Location, Location, Location.
We all know the mantra, but what are the practical steps to finding the right location for a medical practice? The answers to the following questions will help lead the way to the optimal spot.
Who are your patients and where do they come from? In hospital speak this is known as your service area. A good way to get a handle on this is to sort your patient addresses by zip code. Download a zip code map from the Internet, and then label each zone with a tally of the number of patients you have in that zip code, or the areas that you are targeting for growth. This will help you visualize where to focus your search.
How do your patients reach you? You know your community. If a large number of current or potential patients rely on public transportation, picking a site with limited access by public transportation should be a non-starter. A route map from your local transit authority will help you identify appropriate areas.
Car dependent patients? Adequate parking is a must. Most suburban office buildings provide somewhere between three and four parking spaces for each thousand rentable square feet of space. A busy practice typically needs five spaces per thousand square feet. If other tenants in a building do not have heavy parking requirements, a property with fewer spots may work. Locating in a more urban location? On-street parking may be a good option, but be sure to check that spots are available throughout the day.
Don’t forget the importance of the ease of access by car. Is easy on-off to an interstate important? Will heavy traffic throughout the day result in disgruntled and chronically late patients?
Is proximity to a hospital, other clinicians, or ancillary services important? Add the locations of important service providers to your map. Finally, where do you and your staff live? Though not as important as the answers to the previous questions, the ease of the commute for your staff can be the deciding factor when choosing between two sites.
Carol Levin is the Founder and Principal of RE-ADVISORS, a
real estate consulting practice servicing the healthcare industry. To learn more about RE-ADVISORS, and read past issues of REAL ESTATE INSIGHTS FOR THE HEALTHCARE INDUSTRY,
visit www. RE-ADVISORS.com, or contact Carol at:
clevin@re-advisors.com
