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Crown Tenant Advisors Expands again!

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FOR IMMEDIATE RELEASE: 

Jason Price Joins Crown Tenant Advisors’ Georgia Office

Atlanta GA – Crown Tenant Advisors (www.crowntenantadvisors.com) announced today that Jason Price has joined the company as a director in their Georgia office. He will be working with healthcare clients to identify and secure the best office space available to meet their specific needs.

Jason joins Crown Tenant Advisors after 12 years as a Territory Representative for Patterson Dental. He also brings 15 years of real estate investing experience with him that will allow him to view each real estate deal from the client’s perspective. “As a Territory Representative I helped dentists in the Atlanta area with their business plans, build-outs, equipment, technology, staffing and growth planning. I believe this experience will help me to assist my real estate clients as they search for the space that meets their needs and benefits their bottom line.” said Price.

Andrew Riepe, President said, “We are excited to have Jason Price join the Crown Tenant Advisors team. We have worked with Jason over the years and we know that his industry knowledge paired with his excellent work ethic will make him a great addition to our team. “

 

About Crown Tenant Advisors

 Crown Tenant Advisors, Inc. is a commercial real estate firm headquartered in Roswell, GA that exclusively represents the interests of healthcare providers in real estate transactions.

 

Contact

 Crown Tenant Advisors

Teresa Latham

770-649-8036

info@crowntenantadvisors.com

Ryan LaPrad joining Crown Tenant Advisors to lead TN {Dental, Medical, Veterinary Real Estate}

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FOR IMMEDIATE RELEASE

 Crown Tenant Advisors Appoints New Managing Director in Tennessee

 Atlanta GA – Crown Tenant Advisors (www.crowntenantadvisors.com) announced today that Ryan LaPrad has joined the company to over see their expansion into the Tennessee healthcare real estate market. Ryan comes to Crown Tenant Advisors with a wealth of experience working with Healthcare clients throughout the Southeast and brings with him over 20 years of banking and finance experience.   He has assisted over a thousand doctors with their financing needs for all aspects of ownership from starting a first practice to relocating/expanding. While receiving a multitude of awards throughout his 14 years with Bank of America, Ryan was personally involved in financing over 600 new dental, medical, and veterinary offices. He is licensed to practice commercial real estate in Tennessee.

Andrew Riepe, President said “Ryan’s extensive knowledge of project and construction financing, new office budgeting, demographic analysis, and debt management will provide the expertise needed to assist healthcare professionals in the Tennessee market to identify and secure the best office space available to meet their specific needs. We have partnered with Ryan on many projects in the past and know he is the person to bring the Tennessee office to the next level.”

About Crown Tenant Advisors

Crown Tenant Advisors, Inc. is a commercial real estate firm headquartered in Roswell, GA that exclusively represents the interests of healthcare providers in real estate transactions.

 

Contact

Crown Tenant Advisors

Teresa Latham

770-649-8036

info@crowntenantadvisors.com

ENT opened in Suwanee, Georgia! {Healthcare Real Estate}

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Matt Gill was excited to open his own practice.  We were introduced via a medical practice consultant.  From our first meeting in a Starbucks,  he knew the general location he wanted to be in and had done considerable research on where their were gaps for ENTs.    We provided some additional demographic data.  Most of the available space in the area was retail based which would be unique for a specialty physician.  We negotiated on 2 properties ultimately landing on a great location that is more of an office location with retail signage.   We were able to negotiate aggressive terms which will allow him to get the practice off on the right foot.

He is currently open and seeing patients.  His open house will be in January.  Give his Facebook page a “like” to follow along on the growth of the practice.

Dr. Gill treats both children and adults.

http://entsuwanee.com

 

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New Breast Surgery Practice Open on Howell Mill! {Atlanta Medical Real Estate}

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We were thrilled to be a part of the vision Dr. Speed has for her Global Breast Health and Wellness Center.  Dr. Speed is a well trained physician who has been employed by large hospital organizations.  A few years ago she set out on the dream to own her own practice and started with a location in Conyers.  She quickly knew that an Atlanta location was necessary to meet the unmet needs of patients in the metro area.  We worked to identify the location that would give patients the most access throughout the city.  We negotiated an aggressive lease with significant landlord contribution to free rent and buildout costs to get her started on the right foot.

Dr. Speed’s practice has a spa like feel allowing patients and their families to feel comfortable in her suite.  Calming music,  decor and inspirational quotes help her practice stand out.  It doesn’t feel like a clinic.   The warm towels and robes make her patients feel relaxed during an otherwise stressful time.  She has a unique approach to helping women take care of themselves.  The staff is super friendly and accommodating which is another must for a successful practice.

 

They are now scheduling patients in the Howell Mill location.

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http://draprilspeed.com

 

New Pediatric Practice in Johns Creek!

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We were so excited to work with Dr. Madhuri on setting up her new pediatric practice north of Atlanta.  She had been in practice for many years mostly seeing patients on the south side of Atlanta and wanted to start her own practice near the community she resides in.

She contacted us to assist her in the first step of the process which is to identify the best location.  Because we only specialize in healthcare we know about built out spaces throughout the city.  There happened to be a built out pediatric practice recently vacated that we knew about and would not be on the market long.  We knew this could be an excellent option for her.  After negotiations with the Landlord we were able to secure favorable terms for her.  She was able to customize the practice with Tenant Improvement Allowance from the Landlord.  Free rent will allow her to build her patient base before paying base rent.

Dr. Madhuri’s pediatric practice, Dare 2 Care Pediatrics is open and ready to see patients.  If you are in the Johns Creek/Alpharetta/Roswell/Cumming area and looking for a pediatrician, look no further.  She is an excellent physician and her practice is conveniently located with free parking.  We are confident she will be a strong success.

http://dare2carepediatrics.com

 

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Crown Tenant Advisors expands to Indiana {Indiana Dental, Medical and Veterinary Real Estate}

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FOR IMMEDIATE RELEASE:

 

 

Healthcare Focused Commercial Real Estate Firm announces expansion to Indiana

 

Indiana Native Billy Lewis to Head Office

 

Atlanta, GA – May 2, 2016

 

Crown Tenant Advisors (http://www.crowntenantadvisors.com), a commercial real estate company that specializes in addressing the real estate needs of healthcare providers, announced today that they are expanding their practice to the state of Indiana.

 

“We are extremely excited to have the opportunity to open an office in Indiana”, said Crown’s president, Andrew Riepe. “We are fortunate to have Billy Lewis, a 20 year veteran in the Indiana healthcare market, heading up this office. His experience overseeing dozens of new office projects, office remodels and expansions will be invaluable in his role with us. Billy has proven to be a great asset to his healthcare clients and has received high praise from them. To find someone with his knowledge, experience and commitment to our clients was very important to us. We believe Billy is the right person to make the Indiana office a great success.”

 

Mr. Riepe went on to say that Crown Tenant Advisors exclusively represents the interests of dentists, physicians, and veterinarians, never the landlord or seller, which allows the firm to operate conflict free at all times.

 

Company Info:

 

Crown Tenant Advisors, Inc. is a commercial real estate firm headquartered in Roswell, GA that exclusively represents the interests of healthcare providers in real estate transactions.

 

 

Crown Tenant Advisors, Inc.

1875 Old Alabama Road Suite 820

Roswell, GA 30076

Phone: 770.649.8036

 

 

Contact Info:

 

Crown Tenant Advisors

Teresa Latham

Office Manager

Phone: 770.649.8036

Email: info@crowntenantadvisors.com

 

2 Practices in 1 great location! {Cumming Medical Real Estate}

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I was excited to go see one of our clients in their new home at the end of last week.   North Georgia Vein Institute relocated from another location.    This new location is in a medical building right across from Costco.  The building is the first medical building to have video signage in Forsyth County which is an added bonus for advertising.   Quick accessibility from 400 allows the practice to pull from a large area and patients don’t have to fight traffic.    In addition they launched a primary care office, Elite Primary Care.    A TI package and free rent after the buildout time has allowed this practice some “launch time” while they get the primary care office up and running.   Super efficient in the design of the space, they were able to maximize all the square footage.  We know this experienced staff will make this practice wildly successful.

 

If you are in Forsyth or North Georgia area and are looking for a great primary care practice or need treatment for your veins, these practices are definitely worth checking out.

 

Elite Primary Care and North GA Vein

Milton Medical Group now open!! {Georgia Medical Real Estate}

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One of our favorite things about a project is the end when we go visit our clients’s new office.  Often, we are working with our clients at the very beginning when the dream is being formed.  Getting to visit the office and see the dream become a reality for our clients is a great feeling.  We love seeing the finishes they picked out so that their space mimics the vision of their practice.

This was the case today when visiting Savitha Shama’s new Internal Medicine Office located in Alpharetta/Milton area.  She left a large hospital organization for the desire to take care of patients the way she believed was the right way to practice medicine.  Her husband was an integral part of our team as we went through negotiations with the Landlord.  Securing a TI package and free rent separate from buildout out time was important to getting started on the right foot.   They chose a retail location for the visibility and the convince that patients desire.   The office design was extremely efficient for a smaller space and the contractor did a great job.

Doors are opened and patients are being seen at Milton Medical Group.    If you are looking for a top notch Internal Medicine Physician, please give this office a call.

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Capstone Medical Group’s new home {Georgia Medical Real Estate}

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Amanda had the pleasure of working with Capstone Medical Group for the 2nd time as they looked for a new location for their Lithonia office.  When you have excellent providers and staff, word of mouth travels fast.   They were rapidly outgrowing their current space and their future business plan required more space to accommodate the growth.    We toured and considered a variety of properties before landing on their new home.

Last spring it was hard to envision what the space would look like since the entire 2nd floor of the building was dark shell condition.  Common hallways and restrooms needed to be built by the Landlord and Capstone would help forge the way as they designed their space.  We were able to secure concessions from the Landlord to help ease the financial burden of the move so it was a win-win for all.

Today Capstone is all moved in and putting the finishing touches on their home.  The staff is thrilled with the new location since they each have their own work space and most importantly patients appreciate the flow and welcoming decor and design of the office.  We can’t wait to see their continued success.   And if you are looking for a top notch physician in Lithonia (or Decatur) be sure to check them out!

 

Capstone Medical Group photos

 

Are Renewal Options Important? {Medical, Dental, Veterinary Real Estate}

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Absolutely, 100% Yes!!!!!   Renewal options are one of the important items we negotiate for our clients.  Renewal options are typically negotiated during the LOI (Letter of Intent) process and allow Tenants to stay in their space for a defined period of time past the expiration of the lease, provided the Tenant is not in default.  If there are no renewal options in place in the existing lease, Landlords are not obligated to renew the lease.

Recently we have seen this challenge for a few of our clients who didn’t previously negotiate renewal options into their lease.   One might wonder why a Landlord would not want to renew a lease for a solid, credit-worthy Tenant.  There are a couple of situations that arise where this is the case.  One of our client’s was located in a building that was recently sold. The new owner wanted to remove the healthcare related Tenants so they could develop a purely office based building with an open concept work environment.  Therefore, since my client didn’t have a renewal option in place, they were not able to renew their lease.  Fortunately, because we started the renewal process 12 months in advance, we were able to find a great location and move our client on her terms instead of being rushed and at the mercy of the Landlord.

Bottom line:   While a renewal option may include an “economic concession” such as free rent or Tenant Improvement Allowance at the time of lease execution, if not properly negotiated it could cost you significantly in the long run.

If you would like to know how your lease stacks up with respect to renewal options, please contact us.  We will be happy to provide a complimentary review for you.

2016…where will we be?

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2016Happy New Year!   Here we are already 2 weeks into 2016.  How fast time flies.  If you are like most, you are fine tuning your practice’s business plan this year.  It’s an exciting time to plan and see what the year holds.  Now that we are past ICD-10 which was looming most of 2015, perhaps you can focus on the growth strategies of your practices.

A few quick tips in planning for your practice…

  1.  Ensure to get all points of view.  Asking employees to provide input on the plan creates engagement and accountability amongst the staff.
  2. Staff development is a key goal that should be included.  People want to be trained and invested in to improve or learn new things.
  3. Don’t leave out a marketing goal.  Healthcare is becoming consumer driven.  Patients have choices of where to spend their deductibles.  Really be creative in how to capture patients and increase your share of market in your area.
  4. Analyze your P & L statement.  Are there areas you can cut costs and areas that need to be invested in.   Are there areas that funds can be shifted?  Real estate for example, could be one place that cost savings could be generated allowing for investments in other areas.
  5. The goals of your plan should be SMART.   Specific. Measurable.  Attainable.  Realistic.  Timely.

There are many things to consider in business plan for a practice, but hopefully these few items can be a good reminder of what not to overlook.

 

Wishing you healthiness and prosperity in 2016!

 

 

Thank you for 40! {Healthcare Real Estate Firm Gives Back}

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This year Crown Tenant Advisors, in partnership with several of our clients, collected 40 costumes to benefit the Drake House here in Roswell!  So many cute costumes donated.  The kids will have a great selection to chose from on Monday!  Thank you for your generosity and please be sure to save any from this year because surely we will do it for a 4th year in a row!!

Had a cute helper with us to deliver today!

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Thanks again!!

 

Protect yourself and your practice!

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You hear it time and time again, however you think it will never happen to you or your practice.  It is so important implement a plan to protect your practice from embezzlement.   A checks and balances is good for everyone’s sake.  We have had a few clients suffer this from “trusted” employees.  Just this week a dental office in our office park had $500,000 stolen from them over the last 2 years from their office manager.    Take time to determine a plan with your office or practice manager along with CPA to determine a quick and simple way to audit the books.

 

http://www.ajc.com/videos/news/former-dental-practice-manager-facing-embezzlement/vDbz3J/

Medicine On Call Podcast

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We were honored to be a part of Elaina George’s Medicine On Call radio show: Medicine on Call.  We joined Cardinal Web Solutions and The Medical Consultants Group to discuss the state of the private practice.   Feel free to take a listen and perhaps there are some tips that can help you maximize your practice.

Medicine On Call Podcast- Can Private Practice Survive?

Annual Costume Drive is here!!

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We are excited for our 3rd annual costume drive!  We have donated over 200 costumes to organizations around Atlanta.  We are partnering with the Drake House in Roswell again this year for their families and children in need.  Please drop off costumes to one of the 4 drop locations or contact us for pickup.  Details on the link attached.     Thanks for your generosity!

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Halloween Costumes Flyer FINAL 2015

Crown Tenant Advisors is Expanding to the Volunteer State! {Tennessee Healthcare Real Estate}

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FOR IMMEDIATE RELEASE:

Healthcare Focused Commercial Real Estate Firm announces expansion to Tennessee.

Atlanta, GA – August 18, 2015

Crown Tenant Advisors, a commercial real estate company that specializes in addressing the real estate  needs of healthcare providers, announced today that they are expanding their practice to providers outside of their home state of Georgia.

“It just makes sense”, said Crown’s president, Andrew Riepe. “We have seen over and over again that there is a real need for our advocacy in the Tennessee marketplace.  There is an opportunity to represent a multitude of healthcare tenants, who often times go unrepresented in real estate transactions. We have the resources to analyze marketplace data and negotiate the best outcome for our clients. This will allow healthcare providers to put real dollars right to their bottom line through cost reduction, added efficiency and even risk mitigation associated with a properly structured lease.  We go above and beyond to provide our clients with a very high level of service, which sets us apart from our competitors. We often hear from our clients how glad they are to have had us on their team and now those in Tennessee can benefit too.”

Mr. Riepe went on to say that Crown Tenant Advisors exclusively represents the interests of dentists, physicians, and veterinarians, never the landlord or seller, which allows the firm to operate conflict free at all times.

Company Info:

Crown Tenant Advisors, Inc. is a commercial real estate firm headquartered in Roswell, GA that exclusively represents the interests of healthcare providers in real estate transactions.

 

Crown Tenant Advisors, Inc.

1875 Old Alabama Road Suite 820

Roswell, GA 30076

Phone: 770.649.8036

 

Contact Info:

Crown Tenant Advisors

Teresa Latham

Office Manager

Phone: 770.649.8036

Email: info@crowntenantadvisors.com

Calling All Volunteers! (Dental, Medical and Veterinary Site locations)

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Crown Tenant Advisors is continuing the annual tradition of collecting costumes this Halloween for children in need!  Last year we donated many costumes to the Drake House with some excited children.  We are in need of identifying collection locations around Atlanta.   It is a great way to partner with your patients for a good cause.  Even a handful of costumes will help.    No child should go without a costume if they want one on Halloween!

If your office is interested in being a collection location Mid- September thru Mid- October please reach out to us at 770-649-8036 or info@crowntenantadvisors.com.  We can provide more details.

 

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Patient Portals = increased practice efficiency {Georgia Healthcare}

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And with practice efficiency comes improved patient satisfaction.  I had the opportunity to hear a healthcare consultant speak recently and she was discussing IT and patient portals.   Staff is spending a lot of time on tasks that could be eliminated and allowing their time to be better served in other capacities.

Of all the calls the practices receive, 25% of them are repeat calls.  Patients calling to followup on a call they already placed.   In addition, staff have to reenter information that the patients fill out when checking in and  registering as a new patient.   Patient portals allow quick followup communication to take place with patients and reduce staff time.  Also,  if patients fill out their forms online themselves when registering then your staff doesn’t have to waste time completing this task upon the patient’s arrival.

So where is the best place to introduce the patient portal to the patient?  Research has shown the exam room is when patients are most receptive to learning about the patient portal.   The nurse is a good person to share the information and the doctor is even better.  After all you want to do what the doctor tells you!  Portals offer more convenience for patients and in this day in age, patients (aka consumers) are all about convenience.  Think about it for your practice.

New Dermatology Practice {Healthcare Real Estate}

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We were very excited to be a part of the team who helped Dr. Steele realize her dream and start up her own practice.  She is situated in Alpharetta, GA in a retail center with lots of visibility and cars driving by.  She has enough space to grow her practice in the coming years.  While we negotiated base rent and Tenant Improvement Allowance for buildout, we were also able to secure free rent (after her buildout period) which is getting her off to strong start while she recruits patients.   The design and decor of her space mimics her commitment to the most current trends in medicine.  Please feel free to check out her website.  She is currently accepting patients.

Steele Pix

http://www.atlantadermatologists.com

A Focus on Wellness {Healthcare Real Estate}

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We had the pleasure of working with Nadia Taylor, a pediatrician recently.  She had a vision to open a practice that focused on the wellbeing of children and families.  She wants to focus on the importance of exercise and nutrition in addition to the typical illnesses children get.

We had the opportunity to negotiate a positive base rental rate with some Landlord contribution of Tenant Improvement Allowance and free rent.  She was also able to put on sign on the outside of the building which provides great visibility to the practice.   She is currently accepting patients in the Duluth area and we wish her the best of luck.

Taylor Pix

http://familywellnessmd.com

Resource Alert!! {Georgia Healthcare Real Estate}

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Five Questions you should ask your Healthcare Real Estate Broker

Crown Tenant Advisors is pleased to announce a new resource to our potential clients!

Five Questions You should ask you Healthcare Real Estate Broker is a booklet that was created in order to answer the many questions we receive regarding healthcare real estate.  Whether you are a physician, dentist, veterinarian, practice administrator, or office manager, positively impacting the practice’s bottom line via real estate can be a big win for the practice.  We wrote this booklet to assist those tasked with navigating the practice’s real estate.   This resource is currently free to potential clients.

Over the next several weeks we will be profiling each of these questions.   Hope you enjoy and we welcome any feedback you have!

 

Patient Engagement

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A very important topic with practices in today’s environment is how to engage your patients so that patients are connected with the practice.  With higher deductibles, patients have a higher interest in how to lower their overall healthcare cost and be more involved in their healthcare choices.   Frank Martin from the Medical Consultants Group is discussing this very topic on Top Docs Radio Show.  Perhaps listen to this while you are driving.  There are several pearls in this discussion that can help your practice engage patients.

http://topdocs.businessradiox.com/2015/02/25/patient-engagement/

 

 

 

Medical Office Case Study. {Atlanta Medical Real Estate}

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What better way to demonstrate how real estate costs can affect your bottom line than reviewing a case study.  Here is a case for a medical office located in a suburb north of Atlanta.

Situation:  3 locations.  2 leased and 1 owned.  Been leasing in the same location for nearly 25 years.  Practice Administrator, who was new in the last 5 years and hadn’t previously renewed the practice’s lease, contacted me to help with determining if practice should renew in the suite or move to a new location.

Lease Review:  Paying above market rent.  Personal Guaranty still in effect.  Office in need of updating to make more current and attractive for new patients.

Result:  After reviewing the options in the market, we decided it was advantageous to stay in the same suite and restructure the lease as it was nearing expiration.  Negotiated to get free rent, significant Tenant Improvement Allowance to update cabinetry and flooring, and improved the base rental rate.  Limited the Personal Guaranty to out of pocket expenses which expired as rent was paid.   We were able to save over $100,000 for the practice over the 5 year term of the lease in cost avoidance and cost savings.  This is real money that was invested back into the practice.   Did I mention that the practice doesn’t pay our fees?   Similar to buying a house we split a commission with the listing broker and our clients interests were represented and protected throughout the process.   They hired us, but they didn’t pay us.

Of course every real estate transaction is different and no 2 projects are the same.   They certainly yield various results depending on the situation.   Could your practice be in a similar situation?    Contact us for a complimentary lease review and we can let you know if there is room for improvement.

 

 

Ways to get more patients in 2015. {Healthcare Real Estate}

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Working with our clients often becomes like working with family.  We become so invested in wanting them to be successful because we were there at the beginning when their project was taking off.  Whether it is a relocation, practice start up or renewal of a lease we find ourselves rooting for our clients and their ability to build a practice that is wildly successful.   Location is certainly an integral part of that, but then a strong marketing plan and positive patient experiences become critical to building the practice.

To that end when we come across tips and tricks that can help our clients, we like to pass it on.  Ben Suggs, a marketing strategist and owner of Practice Treatment Plan, offers these 5 tips to get more patients in 2015.  While written with dental practices in mind, we believe it also applies to medical and veterinarian practices as well.  Perhaps there is something new here you could try to enhance your patient population in 2015!   Let us know what works for you.

5 Free Things You Can Do To Get More New Patients in 2015

New Addition. {Healthcare Real Estate Director}

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We are so excited to announce a new addition to our team at Crown Tenant Advisors.    C.T. Voyles joined us as a Director at the start of the year.    Let’s get to know him a bit so you can see why we are happy he came to our team.

C.T. has over six years of commercial real estate experience. Prior to joining Crown Tenant Advisors, he was a landlord representative with Wheeler/Brand in Atlanta, where he successfully negotiated leases for national, regional and local tenants. This experience “on the other side of the fence” will be valuable as he negotiates both lease and purchase agreements for our medical, dental and veterinary clients.

Dedication to getting the right deal for his clients is the foundation of C.T.’s success. He works tirelessly to ensure that he understands the requirements of each client and presents them with options that support the unique goals of their practice.

C.T. graduated from the University of Southern Indiana with a B.A. in Communications. When he’s not working with clients, he enjoys golf, biking, cooking, watching football, and spending time outdoors. C.T. lives in the Atlanta area with his wife and two children.  C.T can be reached at ctvoyles@crowntenantadvisors.com  and on his cell at 678-571-2320.

Welcome C.T.!

CTVoyles4[3]