James Ellis, CEO, Health Care Realty Development Company, is a nationally recognized successful real estate investor and developer of medical office properties with a comprehensive knowledge of sophisticated real estate transactions, cost effective designs, and efficient property management. Aaron Razavi is Associate Marketing Director at Health Care Realty Development.
James Ellis and Aaron Razavi
As hospitals and physician groups look for ways to expand into new markets while keeping costs down, building off the hospital campus has become a popular and growing trend.
What’s a progressively growing medical facility that stands to benefit health system and hospital executives, especially in response to healthcare reform? A satellite emergency department (ED).
Healthcare reform is by far the most dissected, discussed and debated topic in the medical industry. Federally mandated healthcare legislation, and the yet to be determined detailed fine print, influences every decision a hospital executive considers on a daily basis.
With hospital budgets relatively flat from last year for new construction, according to a Health Facilities Management/ASHE 2011 survey, healthcare reform is having a considerable impact on how hospitals are deciding to move forward with construction projects.
With tight margins as the uninsured population grows and uncertainty as healthcare reform approaches, hospitals and physicians groups across the country are seeking merger opportunities.
As a leader in specialty procedures, cardiology is a growing field that is in demand from patients, as well as from hospitals looking to acquire practices. While some cardiologists are interested in being employed by hospitals, about 67% others prefer the private practice route.
Hospitals spend $10 billion every year disposing of waste according to the American Hospital Association. As industries everywhere are “going green,” healthcare facilities are implementing green technology programs as well, and the applications can be overwhelming.
With the growth of healthcare spending declining significantly to 3.9% in 2010, according to federal analysts, the American people are not the only ones looking to cut back on the costs of healthcare.
Healthcare is costly, especially on an inpatient basis, which is why it is not surprising that an established and growing trend has been the development of outpatient centers.
The medical industry is doing well, and with halted construction projects from the economic downturn back on track, medical real estate’s potential is coming into full swing.