Are you considering opening a medical practice in Maryland? Home to some of the nation’s top hospitals and teaching universities, as well as endless culture and amenities, Maryland is an appealing place to begin or develop your career as a medical professional. Here are some reasons that Maryland’s healthcare market is an opportunity you shouldn’t pass up.
An Abundance of Hospitals and Universities
Maryland and the Washington DMV are home to some of the nation’s most renowned hospitals. The nationwide top-ranking Johns Hopkins in Baltimore is a notable standout, not to mention MedStar Washington Hospital Center, Children’s National Hospital, Sibley Memorial Hospital, Howard University Hospital, and George Washington University Hospital are all major players in the region. These provide endless opportunities for practices of all types – as well as a pipeline for top talent in the region. Demand for healthcare workers is high, with healthcare being one of the top hiring sectors – and an identified need for new talent to prevent a future shortfall in the healthcare workforce. Nurses and behavioral health professionals are particularly in high demand.
A Robust Healthcare System
Not only does Maryland boast one of the top healthcare systems in the nation, but thanks to the large state and federal government presence in the area, as well as expanded healthcare entitlement programs such as Maryland Medicaid, it’s home to a well-insured patient base. Physician salaries tend to be higher than average, and opportunities for professional development are extensive. Maryland also has maximum caps on non-economic damages, potentially reducing provider insurance costs, and making it an appealing choice for individual providers looking to hang out their shingles. The state also has a unique “all payer” approach where hospital rates are set state-wide, resulting in a system that (values would be a better word than prizes)prizes affordability and strives for increased access and equity. Additionally, many medical and pharma trade shows, expos, and conferences pass through the area, providing opportunities to network and learn.
A Great Place to Live and Work
Maryland is powerfully positioned within the Washington Metropolitan area, which is renowned for its quality of life. From top-tier dining to best-in-class museums, theaters, galleries, and parks, the region is bursting with amenities that will appeal to the quality medical professionals you’ll be seeking to hire. The state is also ranked #7 in the nation for healthcare, and #4 for opportunity, making it a powerful draw for medical professionals seeking to balance career opportunities with lifestyle affordances. Maryland is also in a strategic location for travel, with major international airports and highways readily accessible.
Find the Ideal Maryland Medical Real Estate Address with GZ!
The Maryland medical market is bursting with opportunities for practices small and large. Whether you’re an individual looking to open a practice, a mid-sized group looking to expand, or a major medical group seeking a unique space, our medical real estate specialists are here to help. From identifying a space to negotiating lease terms, GZ has the knowledge and expertise your practice needs to thrive in Maryland.