April 9, 2019
A shared vision for quality medical facilities
In 2009, a handful of physicians gathered over dinner at a classic New Orleans restaurant to start a conversation about how to build and operate a better surgical facility—a place where they could provide better care and customer service to their patients. At that dinner, a neurosurgeon, an orthopaedic surgeon, a general surgeon and other physicians scratched out their plans on a napkin. The very next day, these physicians organized a group of 30 physicians and health care professionals who shared their vision.
Crescent City Surgical Centre opened in early 2011 with great success. Since then even more physicians have joined the medical staff as more patients want access to these physicians and this modern, clean and patient friendly facility.
Long-standing relationships with many of these physicians influenced DOC’s business plan. The group helped DOC understand that physicians and health care providers that maintain a focus on the patient, the physician-patient relationship, and great clinical care with attention to detail and efficiency, are the providers that will be the most successful as the health care system and clinical science evolves. DOC believes medical buildings occupied by these types of providers are, and will be, the most valuable—especially when designed and operated with a focus on clinical efficiency and patient service.
“Before our IPO, we gathered with the Crescent City physicians over dinner at the same restaurant and were humbled by their desire to contribute their building to our Company,” says John T. Thomas, President and CEO of DOC. “On September 30, 2013, the physicians contributed their ownership interest in the building to our operating partnership (Physicians Realty, L.P.) and many of the physicians elected to take partnership units, in lieu of cash, in a so-called ‘UPREIT’ contribution. In fact, several of the founding Crescent City physicians are some of our largest individual shareholders. They share their positive experiences about us with other physicians around the country, which has resulted in even more medical buildings occupied by similarly outstanding physicians to be contributed to our company.”
As for the original plans drawn on the restaurant napkin – those plans are framed and hang on the wall of the building DOC owns in partnership with the Crescent City physicians, where they continue to provide high-quality health care services every day.
"Several of the founding Crescent City physicians are some of our largest individual shareholders. They share their positive experiences about us with other physicians around the country, which has resulted in even more medical buildings occupied by similarly outstanding physicians to be contributed to our company."
— John T. Thomas | President & CEO | Physicians Realty Trust