In a recently published article for Illinois Real Estate Journal, HSA PrimeCare executive vice president Robert Titzer examines the current state of the healthcare real estate market.
“The medical office building market is strong and it is active,” he said. “And the underlying reason for that? There has been a lot of change in the healthcare industry. These changes in the industry, the growth of healthcare in general, has made this an extremely active market today.”
Titzer goes on to elaborate on some of the changes in the industry, including the aging population, the availability of health insurance, and the consolidation of medical practices into larger health systems. He also discusses changes in patient expectations and how healthcare providers are working to improve the convenience of their services.
“There is an effort on the part of healthcare providers to bring their medical services out to where the consumers are,” Titzer said. “They want to make the process more efficient. A hip replacement or a knee replacement that once was done at a hospital can now be done in an outpatient setting. These procedures can be done in some neighborhood in the suburbs. Formerly, that patient had to go downtown or to a hospital in a further-away suburb. Now everything can be done closer to home.”
To read the full article featuring Bob Titzer, please visit the Illinois Real Estate Journal website.