Tag Archives: property

Signs it’s Time to Expand Your Practice

Lots of physicians dream about starting their own medical business and turning it into a popular and incredibly successful practice. For many doctors, this dream comes true, and new dedicated practices are established as a result. But how are you supposed to know when it’s time to expand your practice? With the help of Boulevard Medical Properties, you can recognize the major signs that are telling you it’s time to take the next step with your medical practice! Learn more about commercial real estate in Los Angeles when you talk with a talented team member from Boulevard Medical Properties today!

Think Over Your Schedule

If you are considering an expansion for your practice, take some time to reflect on your appointment schedule from the past year or two. If your business hours are packed all day consistently for a full calendar year, you may not have enough open business hours or physicians available to best serve your patients. Incredibly busy office days and appointment bookings months ahead of time are signs of success and can be followed by a strategic expansion. When looking through your years to identify how much business you have on a daily basis, compare months that are more likely to have fewer appointments. Months like April, May, June, and July are more likely to have some fewer patients statistically, as patients are prone to taking vacation time off during this part of the year. If these lighter months are still profitable for the practice, an expansion might be a necessary and beneficial next step for your business!

Consider Your Location

While the quality of a physician is the most important factor when receiving healthcare, another important component is the location of the practice. If your business is not located in a prime area or prominent town, it could be more difficult to build lasting relationships with patients. Consider moving to better commercial real estate in Los Angeles if your location does not serve the demographic that best suits your business, even if the cost will be a little higher. Paying more in prime office space is cheaper than choosing a location that might make maintaining patients more difficult. Find out more about your options for commercial real estate Los Angeles when you contact a representative from Boulevard Medical Properties today!

Can Your Staff Handle It?

Whether you are a solo doctor, or you work in a co-op, there is a staff of people who are committed to the success of your practice. When considering an expansion to larger offices, longer hours or newer technology, you might also want to consider how your staff will handle the upgrades. The expansion you need may be to add more support staff or even another main physician to help increase the number of patients you can take along with a potential office building upgrade. A good way to tell if you need to add more support staff is to take stock of everyone on the payroll so far and pinpoint the last time a new hire was added. If you haven’t hired new personnel in a while and have maintained most of the support staff for years, it might be time to add another employee. Think about how your front desk is managing the workload, how capable your nurses, physicians’ assistants, resident doctors or lead physicians are handling the cases and determine if a new employee is the best expansion decision for your practice. When you’re ready to get started on the expansion of your dreams, call Boulevard Medical Properties and let one of their talented team members show you the best commercial real estate in Los Angeles. If it’s time to take your business to the next level, get the best to help when you contact Boulevard Medical Properties!

Practice Management for Dentists

Whether you just got your degree or have been running a dental practice for years, managing your practice is a lot more intricate than just cleaning teeth. Finding new patients, keeping existing patients, hiring competent staff, and balancing finances are just a few things you need to think about to have a successful dental practice. Being a dentist doesn’t just mean being a doctor but needing to be a business owner too. According to Dentistry IQ, they took a poll of 100 practice management experts and learned that the most consistent topics regarding practice management are leadership, communication, and teamwork. Another major part of having a successful dental practice is location and aesthetic. Speak with Boulevard Medical Properties today to find the best dental suites in Los Angeles that will make your practice flourish and thrive.

Leadership, Communication and Teamwork

Being an effective leader leads to an efficient team, so you cannot really have one of these attributes strong without the other. Just like in any other role, being a leader in your dental practice requires honest communication without being harsh, clear expectations, open mindedness while also being consistent, and the ability to properly delegate. According to the American Dental Association, being an effective leader will “help improve efficiency, reduce redundancy and waste, and keep everyone feeling confident and focused.” Communication is of the utmost importance because it ensures that your expectations and boundaries are clearly defined, and leaves no room for misinterpretation. The best way to be a leader is to instill trust by following through with your promises, be dependable, communicate effectively, and always lead by example. Once you become a strong leader, you will naturally have a strong team.

Location, Location, Location

First impressions are always the most important, which is why the location and aesthetic of your office is paramount. Finding a dental office that is easy to locate and provides a comfortable experience for patients will make all the difference in the world. Boulevard Medical Properties knows how to find the best dental suites in Los Angeles and are a great asset to have on your team. We take the hassle out of finding the best place for your practice, so you can focus on making your practice the best it can be. The process doesn’t stop once the lease is signed but is ongoing.

Patient Satisfaction

Now that you’ve created a strong team around you, another important aspect to your practices success is finding and keeping patients. By keeping patients satisfied, supplying them with an excellent experience, and understanding their needs, you will establish a connection and relationship with a recurring source of income for your practice. The way that you deal with a patient’s dissatisfaction is just as important as how you deal with a satisfied patient because those who are unhappy are much more likely to be vocal than those who are happy. Again, communication is also a huge component to your relationship with your patients. Being upfront and open with your patients from the beginning is a great way to keep everyone on the same page, and mitigate any dissatisfaction that may come from miscommunication. Although customer service is extremely important, there are bound to be some patients that have an unpleasant experience, but don’t count them out right away. Giving your dissatisfied patients the opportunity to voice their complaints in a non-hostile environment, being honest with your patients, and being willing to discuss solutions are great ways to win back their trust.

There are many things that you can do to ensure proper practice management, but don’t let your building be one of the things bringing your practice down. Boulevard Medical Properties can help you with dental suites in Los Angeles, and make sure that your office is ready to take on every satisfied patient you have in your future. Contact us today here!

Benefits of Leasing Commercial Property

If you are a new or small business, the decision of whether to buy or lease commercial property is a significant choice to make. Weighing the negatives versus the benefits of leasing commercial property can be easy with help from Boulevard Medical Properties. Find out what the top advantages are of choosing a commercial lease in Los Angeles and learn about how leasing will help your business grow and how it will also save you money.

Upfront Costs

Owning a building comes with other costs that aren’t included in the real estate estimates. Keeping up on building maintenance through cleaning, electricity and providing internet is a large expense that potential buyers often do not consider. When you are a leasing tenant, however, this maintenance cost is not your responsibility. Some buildings may ask for a yearly or monthly fee for cleaning, but it is a significantly smaller total than taking care of it completely on your own dime.

Moving into a leased building is also a much simpler task. If you are using a loan to cover the purchase of a corporate building, most lenders take a large down payment, and charge interest on all money loaned. With a leasing agreement, you would only pay a refundable deposit along with the first rent payment and no accrued interest. Renting allows for small and new businesses to avoid several costs that could eventually become too expensive to sustain. Also, leasing costs are completely deductible, unlike mortgage costs which are only partially deductible. More and more start-up companies are opting for leasing options to decrease their overall spending, especially in the first few years of business. If you’re looking for a commercial lease in Los Angeles for your new or small business, contact the professional team at Boulevard Medical Properties to start finding your next great office space.

Flexibility

One of the most common reasons new or small business opt to rent office space instead of buying buildings, is that they gain a flexibility to move buildings and move neighborhoods depending on their rate of growth. If your business fluctuates quickly, you can end your lease and move to a larger building to accommodate for the new hires or new equipment. If the opposite were to occur, the option is also great for business looking to downsize. Companies that are looking to move from one area in the city to another for growth potential or in response to client onboarding have the freedom to do so without worrying about selling a building while trying to find another or having to find a tenant while still technically occupying the space.

Maintaining office buildings both inside and out is a difficult and expensive job, but leasing allows tenants to simply move if a newer or better office opportunity comes their way. Legally, tenants can also put in personal requests with landlords or building owners to make repairs or upgrades to the occupied building. In some cases, this is a better option for both the renter and the owner, as the renter will get a more upgraded office building without having to leave the space, and the owner will not lose out on rent money or the responsibility of having to find a new tenant. This is another flexible option afforded to you as the tenant as the decision-making process about whether to leave or extend a lease sits primarily in your hands.

If you are a new or small business owner interested in getting a commercial lease in Los Angeles, contact our skilled team at Boulevard Medical Properties. We can help you find the right building at the right price and you can get your business moved into the perfect new property.

Launching Your Medical Practice

There’s a lot to take into consideration when launching your first medical practice. Before you begin, you might want to think about the steps involved in launching your practice successfully.

Budgeting, financing, finding the right medical office space for lease, and legal document signing are just some of the many steps you’ll need to take on the road to having your own practice. Whether you already have a business plan in mind or not, it doesn’t hurt to look at the steps below to use as a guide.

Our experts at Boulevard Medical Properties want to make sure you are fully equipped with the knowledge and tools that you’ll need for success when opening your first medical practice. Though there are many steps involved, by following each one carefully, you can prevent yourself from becoming overwhelmed.

Step 1: Think About Financing

Budgeting is never a fun topic, but it’s a necessary one if you want to open a successful practice. First, you’ll need to develop your pro forma – which is similar to your business plan. A good pro forma gives you better opportunities for investments and financing. Your pro forma allows you to plan how you are going to obtain your initial revenue, and what kind of revenue you expect to project over the first year or so of your practice.

Don’t hesitate to shop around for the best loans and financing structures. Don’t rely on just a single lender or the first bank you see – ask around and get estimates so you know you can get the best deal around. There are waiting periods you can take advantage of too, so that you are able to prepare for the next steps.

Step 2: Think About Equipment and Staff Members

Now that you’ve obtained the proper funding and financing to start up your medical practice, you need to invest in the proper equipment and staff members so that your medical office will function smoothly. You want a talented team by your side, helping you to accomplish the day-to-day tasks as well as handle the immediate needs of patients and other clients.

Once you’ve got a healthy team of staff members underway, you also need to start considering what equipment to buy. Many practices find benefit from investing in an electronic health record system, which is a great way for keeping records and documents safe on digital files. Systems such as medical billing services and transcription software are also necessary in this day and age.

Plus, you’ll have to consider all your ancillary services as well. For example, do your patients enjoy being able to get bloodwork and other specialty tests done on-site? If you’re a specialty practice, you might want to make sure that you have all your specialty equipment and services available in your office. This will make customers happy as they can rely on you to complete every step of their medical needs.

Step 3: Consider the Final Tips Before You Open

You’re almost ready to open your medical practice! Lastly, you’ll want to make sure that your practice is insured – this is an absolute necessity – and that your physicians and staff members have their proper credentials and payment methods set up.

Next, you’ll want to clearly line out the policies, procedures, and practices that are integral to the well-being and functionality of your office. Make sure each staff member and representative are aware of the dos and don’ts of your practice, including how to deal with patients, what treatments can be given, and what billing steps need to be taken. Once you’ve gotten all this underway, it’s time to open your doors!

Medical Office Space for Lease

You’re finally ready to open your first medical practice. With your financing options locked in, your staff members hired, your equipment ready to go, and your insurance and company policies laid out, you have everything you need to get started.

Remember to stay true to your practices and to always seek advice if you have any further questions. If you’re in need of a medical office space for lease, or if you need more tips about how to successfully start on your own, you can contact our Boulevard Medical Properties professionals online or you can give us a call at (818) 882-5700 at any time.