Commercial Real Estate Women San Diego hosted a lunch program to talk about how healthcare real estate is changing.
Changes continue to develop as the healthcare industry fully grasps the elements of the Affordable Care Act. The changes affect how healthcare organizations utilize space and offer care.
1. Straying from traditional real estate
Healthcare real estate is different from other types of real estate because there is a constant relationship between the landlord and the tenant. Due to the constant changes in the medical industry, longer lease agreements are usually issued because of the tenant’s trust in the landlord and comfort in the space. Another major difference is the amount of cost improvements that are invested in medical facilities, which also relates to the longer lease agreements. However, investors need to be careful because it is difficult to predict the direction of healthcare in the future.
2. Consolidation of assets
Many healthcare institutions want to consolidate assets and reduce overhead (resources spent to complete a project). Healthcare financial advisors take inventory of the entire portfolio and decide which assets are important and which can be sold.
3. Decentralization of outpatient services
Hospitals need to open outpatient clinics in the community. Physicians in the community will help grow and expand medical services, while increasing patient convenience and satisfaction.
4. Efficient Use of Space
The average hospital is between 12,000 and 14,000 ft2. Hospitals want to move as many health services as possible to outpatient facilities to free up space. Hospitals are putting more emphasis on design by allowing more natural light and vegetation. Certain environments may even be correlated to quicker healing time. When a Starbucks was included in a hospital plan, patient satisfaction drastically increased. Most importantly, hospitals need to be flexible because of the constant healthcare changes.
Summary by MedicalGroups.com
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