Most healthcare founders model dilution during fundraising but ignore how lease structure and build-out financing quietly increase cost of capital and suppress valuation.

Your waitlist is 60 days out and you need exam rooms now. But in tight suburban markets, "move-in ready" clinical space doesn't exist. All three paths have hidden costs—and desperation costs even more than speed.

Healthcare founders often treat brokers as neutral guides. They are not always incentivized that way. Here’s where the model breaks and what to do instead.