11. Time: Start to Finish
(Doug): David, let’s say, because I have executives ask me this, that the project has been green lighted, meaning that it’s been board approved, or if they’re in a CON state they’ve gotten the CON. What’s the timeframe they can expect from start to finish being that you would basically turn over the keys and be ready to admit the first patient?
(David): After that approval there’s really three components to the start of the design and then the completion of the project. So there’s the design time, the permitting time and then the construction time. The design time I would say is in an eight to ten week time range once we have good existing building documentation. And then after that there’s agency approvals, both local, that is your city permits or your county permits, and state approvals with state health and state fire. This is where we see the most of variance in timelines. And I would say roughly budgeting right now in our experience over the 30 states that we’re working in is about three months or 90 days. And if you know of a state that’s quicker, then that’s great.
Then we move into construction after we have permitting. And I would say that this is probably, with the scope of renovation we’re looking at, is probably about a four month timeline conservatively speaking. You add all those up and you’re talking about a nine to ten months duration till you’re moving in and operating the unit.