{"id":1004727428,"date":"2024-09-02T07:31:41","date_gmt":"2024-09-02T15:31:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004727428"},"modified":"2024-11-14T13:20:54","modified_gmt":"2024-11-14T21:20:54","slug":"outpatient-facilities-step-into-the-spotlight","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/outpatient-facilities-step-into-the-spotlight\/","title":{"rendered":"Outpatient Facilities Step Into the Spotlight"},"content":{"rendered":"\n

A salient feature of the current health-care industry is an increasing demand for outpatient care, due to the chronic diseases of an aging U.S. population, according to a new white paper by Savills. Outpatient volumes are expected to increase by 26 percent over the next 10 years, the report notes, citing data from Sg2, a Vizient company.<\/p>\n\n\n\n

The shift is expected to drive significant growth in health-care employment, which is projected to increase by 12 percent through 2028. That in turn will require new health-care real estate<\/a>.<\/p>\n\n\n\n

Moreover, health-care systems are focusing on construction and design projects that support this shift, with an emphasis on adaptable environments.<\/p>\n\n\n\n

\"Outpatient<\/a>
Outpatient sites forecast. Chart courtesy of Savills<\/em><\/figcaption><\/figure>\n\n\n\n

That trend doesn’t automatically benefit health-care real estate, however. Health-care providers need a data-driven real estate strategy to optimize their portfolios, which includes the right locations and property types for outpatient facilities. Factors such as patient demand, demographics and competitor locations also need to be taken into account.<\/p>\n\n\n\n

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READ ALSO<\/strong>: MOB Tenants: What\u2019s Hot and What\u2019s Not<\/a><\/p>\n\n\n\n

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The report also details various types of outpatient facilities, including single-tenant buildings, repurposed office spaces, standard medical office buildings, “Medtail” (medical retail) and adaptive reuse of commercial buildings. Each of these facilities comes with its own advantages and challenges.<\/p>\n\n\n\n

For example, a single-tenant building provides complete control over parking, branding and signage. But it can also be a costly option.<\/p>\n\n\n\n

Redevelopment of other types of commercial buildings for conversion to medical office can offer unique attributes such as high ceilings, brick facades and wide-open space. Such space is also easily customizable. On the other hand, the extent of the redevelopment varies depending on the condition of the property.<\/p>\n\n\n\n

\u201cMedtail\u201d involves converting retail spaces into medical. In retail centers with high vacancy, such a redevelopment can yield solid transaction terms. By contrast, construction costs can be high, considering the high ceilings and low level of infrastructure common in retail buildings.<\/p>\n\n\n\n

\"Ambulatory<\/a>
Ambulatory health-care service employment will continue to outpace private sector employment. Chart courtesy of Savills<\/em><\/figcaption><\/figure>\n\n\n\n

As for traditional medical office buildings<\/a>, they offer institutional credibility and proximity to ancillary services, such as imaging. Still, negotiating lease terms can be challenging, with less flexibility due to the owner\u2019s perception of tenants as confined to the campus.<\/p>\n\n\n\n

The steps health-care real estate needs to take<\/h2>\n\n\n\n

The transition to outpatient represents an opportunity for health systems to optimize their real estate, the report noted. <\/p>\n\n\n\n

By focusing on convenient locations and adaptable facilities, providers can not only adapt to this shift but also thrive in the evolving health-care landscape.<\/p>\n\n\n\n

Owners of health-care real estate need to evaluate their existing portfolios to identify opportunities for renovation, repurposing or divestiture, and do thorough market analysis to identify optimal locations that balance cost, accessibility and patient demographics, Savills explained<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

This shift marks one of the most significant trends in the health-care industry\u2019s recent history.<\/p>\n","protected":false},"author":1023,"featured_media":1004727467,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21754,23891,21742,51037],"tags":[34107],"class_list":["post-1004727428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-medical-office","category-national","category-latest","category-trends","tag-savills"],"acf":[],"yoast_head":"\nOutpatient Facilities Step Into the Spotlight - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"A salient feature of the current health-care industry is an increasing demand for outpatient care, according to a new white paper by Savills.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/outpatient-facilities-step-into-the-spotlight\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Outpatient Facilities Step Into the Spotlight\" \/>\n<meta property=\"og:description\" content=\"A salient feature of the current health-care industry is an increasing demand for outpatient care, according to a new white paper by Savills.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/outpatient-facilities-step-into-the-spotlight\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-02T15:31:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-14T21:20:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Outpatient-sites-growth-featured.png\" \/>\n\t<meta property=\"og:image:width\" content=\"799\" \/>\n\t<meta property=\"og:image:height\" content=\"610\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/outpatient-facilities-step-into-the-spotlight\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/outpatient-facilities-step-into-the-spotlight\/\",\"name\":\"Outpatient Facilities Step Into the Spotlight - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/outpatient-facilities-step-into-the-spotlight\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/outpatient-facilities-step-into-the-spotlight\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Outpatient-sites-growth-featured.png\",\"datePublished\":\"2024-09-02T15:31:41+00:00\",\"dateModified\":\"2024-11-14T21:20:54+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"description\":\"A salient feature of the current health-care industry is an increasing demand for outpatient care, according to a new white paper by Savills.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/outpatient-facilities-step-into-the-spotlight\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/outpatient-facilities-step-into-the-spotlight\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/outpatient-facilities-step-into-the-spotlight\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Outpatient-sites-growth-featured.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Outpatient-sites-growth-featured.png\",\"width\":799,\"height\":610,\"caption\":\"Outpatient sites are expected to see rapid growth. 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