CINCINNATI, OHIO - When we at Beacon Orthopedics weighed our options for building a new facility, we ultimately decided that purchasing land and owning the improvements was better than signing a long-term lease with a developer or partnering with a hospital. This was the best means of building the facility we needed and controlling the group's future. As the business administrator, I can tell you that from this process, we learned that doing your homework early and taking your time in the planning phases makes it infinitely easier to handle the execution of the plan later. Here's how we put the deal together.

Draw strength in unity
Formed in 1996, Beacon Orthopedics consists of 11 physicians, 8 of whom are shareholders. The practice is best known for sports medicine (our group includes the team physicians for the Cincinnati Reds and Xavier University) and has a very strong general orthopedic reputation as well. Beacon currently has 10 locations and sees about 61,000 patients each year.