Colorado-Real-Estate-Journal_425678

INSIDE Life sciences commercial real estate sector sees explosive growth Today’s college campuses embrace senior citizens who live on campus Recalibrating ‘Senior’ living PAGE 12 PAGE 18 Health care facilities can embrace challenge of sustainable design Net zero PAGE 7 October 2024 Balancing patient experience, provider needs I n recent years, health care real estate has evolved signifi- cantly, with a stronger empha- sis on enhancing the patient experience. As patients gain more options for care, health care providers and hospital systems face the challenge of creating spaces and selecting sites that not only meet medical needs but also offer envi- ronments that encourage patient loyalty and return visits. This shift is driven by the increasing demand for convenience, efficiency, and a patient-centric approach to health care, making real estate a critical component in delivering long-term, effective care. n Site selection criteria for health care. Effective site selection begins with understand- ing the health care provider’s strategic goals. For example, if a client wants to grow a specific service line but is uncertain where to focus, how can real estate profes- sionals assist in identifying the right location? The answer lies in data-driven insights and expertise. Our firm leverages health care- specific software platforms and extensive market knowledge to help providers identify areas of opportu- nity. This allows us to assess factors such as market demand, popula- tion demographics, and payer mix to offer insights into where health care services are most needed. By identifying gaps in the market, we can support our clients’ growth strategies with confidence. Traditional demographic data, such as population density, income levels and traffic counts, are also considered, but the process always begins with aligning the real estate strategy to the client’s health care goals. The next step is selecting a specific site that enhances the patient experience while meeting the practical needs of the practice. n Improving the patient experience. In health care real estate, patient experience remains a top priority during site selection, with acces- sibility and convenience playing key roles. What does a visit to the site look like from the patient's per- spective? For instance, an expect- ant mother visiting an OB-GYN might require different accessibil- ity options compared to a patient attending a routine wellness check- Eric Hester Broker, RMI Health Care Real Estate Advisors Please see Hester, Page 16 Care Type Outpatient  Care Demand Projections Service Line All  The Care Demand Projections Repor t presents current, 5-, and 10-year projections for healthcare demand in a market of interest by either Inpatient or Outpatient Service Lines. The report displays from highest to lowest 5-year growth. Data Source - Use Rates calculated on Claims, Advisory Board Growth Projections and Age/Gender Utilization Distributions Current Data Range - Latest 12 Month Rolling Dataset Projected Growth Rates Service Line > Procedure Current Demand  5 Year Growth 10 Year Growth Evaluation and Management  130K 23.7% 37.2% Miscellaneous Services  77K 13.0% 23.7% Psychiatry  45K 27.8% 39.1% Lab  30K 13.8% 22.0% Physical Therapy/Rehabilitation  27K 21.2% 43.4% Radiology  26K 9.4% 14.8% Cardiology  17K 14.5% 21.7% Ophthalmology  8K 12.3% 20.0% ENT  5K 22.0% 39.1% Dermatology  4K 9.9% 14.2% Orthopedics  3K 14.1% 25.2% Neurology  3K 8.1% 14.1% Anesthesia  3K 13.1% 24.8% Gastroenterology  3K 6.3% 7.7% Oncology  3K 4.8% 6.7% Vascular  2K 11.9% 19.9% Nephrology  2K 5.6% 6.3% Pulmonology  1K -5.0% -14.4% Trauma  1K 9.9% 14.4% Total 396K 18.4% 29.8% 396.4K Current Demand 469.4K 5 Year Projected Volume 514.5K 10 Year Projected Volume Current and Projected Service Line Volumes 0.0M 0.1M 0.2M Service Line Volume Spine Endocrin… Psychiatry Evaluatio… ENT Physical … Cardiology Orthope… Lab Anesthesia Current Demand 5 Year Projected Volume 10 Year Projected Volume Main Takeaways Spine has the highest 5 Year Growth Rate at 32.1 %. While Spine has the highest 5 Year Growth Rate of the selected service lines, Evaluation and Management accounts for the largest current demand volumes at 129,678. Pivotal's Insights Keep in mind both volumes and growth rates when identifying opportunity. For example, even if a service line is in the top 5 for growth, if they have low volumes the overall benefit may not be as promising as a slightly lower growth rate with much higher volumes to capture. We recommend running the "Opportunity Analysis FTE report" to see if any top growth service lines identified have net demand for additional FTEs in the corresponding specialties.

RkJQdWJsaXNoZXIy