Specializing in Medical Design
You know that as a medical billing company your business is growing and it is high time to expand and move to a new commercial space. But like many other medical billing companies you may have no idea what it would cost you to purchase a commercial real estate in US especially when the new investment in real estate has dropped by 9.4% globally.
However, good news is that unlike global CRE trends the US CRE has been recovering from the financial crisis of 2008 partial due to the US monetary policy resulting in upsurge in the availability of cost effective property. Investors are increasingly finding the CRE assets attractive and the demand for CRE assets has been growing day by day due to the availability of cheap financing.
Unlike other businesses the business may not required large space but the process of finding, negotiating and purchasing new commercial space is not as easy as it seems to be. It is always a good idea to consult your local real estate agent for your commercial space need and explain to him in detail your requirements and the budget. However, make sure that your real estate agent is competent enough to meet your CRE needs. Unlike typical real estate agent a competent real estate broker will provide you single-window service enabling you to identify potential spaces, define your initial search criteria and negotiate terms of the business. Some real estate agents go a step further to help their clients find competitive source of financing. In addition, it is important on the part of the medical billing companies to thoroughly understand the legal aspects of purchasing a commercial property and in this respect a competent real estate agent can help them understand the nitty-gritty of legal documentation.
The physical work environment plays an important role in employee engagement, satisfaction and motivation. In the past couple of decades the average space footage per employee has dramatically dropped from 400 square feet per employee to 150 square feet per employee. Consequently, it has adversely impacted the productivity of the employees and the profitability of the companies. It has been found that successful medical billing companies have effectively align their business demand with commercial real estate strategy that enables them to maintain a competitive edge in the industry. Moreover, research shows that strategically located offices have low employee turnover and high productivity. The benefits of moving to a better commercial space include high employee engagement, greater employee motivation and enhanced customer satisfaction. Therefore, investment on commercial real estate is as important for the companies as investment on any other valuable assets.