Monday, June 05, 2006

Docs Find Buying Offices Better Than Renting

More doctors are buying rather than renting their properties because modern technology and lowered reimbursement rates make ownership increasingly attractive.
Owning the technology to do procedures that only a few years ago would have been done in a hospital requires additional space, but can produce substantial income for dental and physician groups.
Structuring a deal can be challenging, because it must allow for physicians or dentists to join and leave the practice. But if done properly, the result can be as profitable for property owners as investing in the stock or bond market, said Steve Brown, vice president of United Properties’ health care real estate group.
Metro Urology in suburban Minneapolis is building a 60,000-square-foot facility that will give it the space to have an enhanced laboratory, a diagnostic center, and its first imaging center."We want to make this a destination for patients and a true center of excellence," said Randy Thompson, administrator of the 21-physician practice.

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