After payroll, real estate is often a physician practice's highest expense. What's more, the physical space you occupy can make or break a patient's decision to stick with your practice or go elsewhere, according to a recent article from MD News.
With these stakes in mind, consider the following reminders when looking to expand, move or renegotiate space for your practice:
Floor plan. A thoughtful office layout is crucial to helping physicians and staff optimize their work flow and minimize unnecessary steps. Even if an office space was designed as a medical practice, the article noted, if it's more than 10 years old it might not meet the needs of a modern medical office space.
Integrity of ceilings and floors. Ensure infrastructures are able to bear the weight of heavy equipment, such as machines used for radiology and audiology. In addition, don't overlook seemingly cosmetic flaws in ceilings, which may indicate a bigger problem with leaks or mold.
Access. Difficulty parking at medical office buildings is a top area of complaint among patients. In a suburban setting, aim for no fewer than four parking spaces per 1,000 square feet of rentable office space.
Identity. "In an increasingly competitive healthcare environment, branding has become as important to medical providers as it is to retailers," wrote Michael Greeley, director of real-estate consultancy Cushman & Wakefield's Medical Academic Practice Group. Therefore, when negotiating your lease, push for maximum exterior facade signage, monument signage, building directories and suite signage, he advised.
To learn more:
- read the article from MD News