What's Missing in Healthcare
Panelists at Bisnow's national Healthcare Real Estate Summit in Philly this week covered a lot of ground, but one theme was apparent: what's missing from US healthcare is certainty. Princeton Healthcare System CEO Barry Rabner says opportunities remain in slower growing parts of the country, such as the Northeast (though Boston should see an uptick in parade related injuries), especially by realigning the relationship between physicians and hospitals in a way than improves outcomes but also cuts costs. These outcomes are going to be increasingly important in reimbursement.
Even so, astute owners, operators, and investors in healthcare real estate can make money if they pay attention to changes in demographics, policy, and trends, such as fast-moving consolidation. Universal Health Services CEO Alan Miller says UHS is honing in on growth markets, such as Florida, Texas, and California, by aggressively developing hospitals and MOBs. The key consideration for healthcare systems as they expand, the CEOs agreed, is providing acceptable levels of care at the lowest-possible price.
More than 400 real estate pros came to the Rittenhouse Hotel to hear panelists from Arent Fox, Anchor Health Properties, CBRE, ESD, Healthcare Real Estate Insights, Health Care REIT, Kaiser Permanente, Lillibridge Healthcare, NIC, Newmark Grubb Knight Frank, Northstar Realty, Trammell Crow, and many more. We'll have more coverage in next week's Bisnow Philadelphia issue.