Scott Mason and I spend some time at the CREW Network Annual Convention in Bellevue, Washington. Scott is the head of Cushman & Wakefield’s Healthcare Group and is not only knowledgeable on the subject, but very personable and explains all things CRE and Healthcare well.
There are so many factors now affecting healthcare in the US, not the least of which includes an aging population, Obamacare, and an industry that was in flux before Obamacare. According to Scott, changes have to be made in order for healthcare to be affordable in the future and real estate has to be included in that equation.
The “triple aim” of healthcare includes (i) reducing cost, (ii) improving the experience, and (iii) improving the quality.
The role that real estate will play in the triple aim, according to Scott is to “decant” the expensive services. Those services that can be offered in a less expensive, ambulatory setting in the community, will be a major driver of real estate in certain locations.
While not discussed during this interview, I would like to add that internet and cloud based medical services will begin to take root and also effect real estate. In the, not too distant, future we will see our doctors via video conferencing where our mobile devices will provide our vital signs on a real time basis.