Covid-19 and the Healthcare Business

Healthcare, Covid-19, and Virtual Medical Consultations

So the COVID- 19 crisis is in no way over but we might be coming out of the worst of it. Time to take a step back and look at its effects on the practice of medicine and dentistry; more specifically, the impact on the medical space needs and requirements. A year and a half ago the rage went to telehealth measures.  People were afraid to leave their homes but still faced medical and dental challenges. Talking over the internet gave the masses access to their physicians and dental professionals. As time elapsed this was not even close to a satisfactory solution. Many postponed cancer screenings which ultimately proved deadly and depression and mental health concerns reached an all time high! There is no substitute for “human contact”. A troubling blemish, a lump, change in eye or skin color all requires human contact.

Normal Healthcare Struggles

So now that healthcare is business as normal what is next? How much space do you need? Is office or retail the best setting?  Are you going to continue to be privately owned or is it time to think about the private equity model? All of these questions should be asked. While many office and retail operations have changed their model forever, healthcare for now is more status quo. It is never to early to assess your space needs. Real estate deals take a long time and careful planning can save thousands or even hundreds of thousands of dollars over a typical career. Selling your practice or considering the private equity model is a big decision that takes time.

Regardless of what you are thinking you need a “trusted advisor”. HPRG has been helping doctors and dentists since 1996 with these critical concerns. Call or reach out today to receive a FREE  evaluation of your current situation.

 

Charles Feitel, 301.365.6940     cfeitel@hprgrealty.com    www.hprgrealty.com