The FORT Podcast: Nick Farris
Nick Farris has an extensive background in consulting and market analysis for health care real estate and senior living assets. He has functioned in advisory roles nationally with hundreds of developers, hospitals, health systems, healthcare REITs, and medical operators since 2006.
On this episode, Nick and Chris deep dive into Health Care Real Estate and how MedCore works with physicians to locate areas to develop medical facilities across the country. They also discuss Nick’s work developing Senior living campuses, how they first met in college, what’s next for the boomer generation, and more. Enjoy!
(03:15) – Chris and Nick Meeting in College
(07:04) – Nick’s Career Path After College Leading up to Today
(14:16) – What’s the spectrum of Health Care as it relates to what you do?
(19:16) – Where are you gathering all of the data for physicians?
(23:44) – What’s the lead time between folks approaching you and when they need to find a place?
(25:46) – Are physicians coming to you with a broad brush in mind or specific locations they want to set up a practice?
(30:27) – What room is there for a physician in markets where there’s virtually no insurance coverage?
(32:37) – What’s an orthopedic surgeon looking for?
(35:02) – Data Availability Via Insurance Providers
(35:56) – Are you involved in an ortho’s search for finding physicians to work within an area they want to go to?
(39:00) – What are the big drivers for how facilities are built?
(41:30) – What is a client in for when they come to you to build a facility?
(44:43) – Are physicians signing leases or joining the ownership group?
(45:54) – How does the organization make money?
(47:14) – How would a deal go south?
(48:15) – Scarcity of Medical Facilities vs. Other Types of Real Estate Leasers
(49:08) – What’s considered Elective Surgery?
(52:22) – What’s a co-morbidity?
(54:24) – Senior Housing
(1:00:11) – How big are these campuses?
(1:01:54) – How do you raise capital?
(1:05:28) – What amenities are you adding to these campuses?
(1:07:19) – Are memberships covered by insurance or private pay?
(1:07:41) – Is the fact that people are living longer good for your business?
(1:09:03) – What’s your reason and process for acquisitions?
(1:10:16) – Does the government offer loans for financing in this area?
(1:10:47) – What’s the next 10 years look like for the boomer generation?
(1:14:22) – Do you have a childhood experience that has shaped who you have become?
(1:19:34) – Do you have a morning routine?
(1:21:46) – What’s the best advice you’ve been given?
The FORT with Chris Powers is produced by Straight Up Podcasts