Mar 31, 2020
October 09, 2019 - Arminco Inc.
Meridian CEO John Pollock claims that outpatient services are where the healthcare industry is headed towards! Institutional investors are entering the industry, and we no longer see an independent physician. These investors are looking for a safe sector to invest in, and outpatient services are the latest trend!
Outpatient demand is driving the development of medical office buildings greater than 150K SF. There are currently 44 medical buildings larger than 150K SF under construction in the US. These projects make up 22 percent of all medical office projects.
This trend is being driven by the needs of patients and medical providers. Many people, especially millennials, hate the idea of visiting a hospital. Also, hospitals usually have higher costs than a simple outpatient setting, so it makes sense for patients to seek out these kinds of services. The technology to perform procedures has advanced to such a degree that afterward, leaving to recover at home is not only cheaper for the patient but the surrounds can eliminate unnecessary stress and - arguably - help with healing.
There is also a trend towards patients not having a preferred primary physician and using urgent care or immediate care facilities. When there is a need for a physical examination or a more intensive visit, an initial visit to a ‘family’ doctor may have to precede a recommendation to a specialist. Depending on the insurance requirement. These ‘quick serve’ businesses are a much better alternative to going to an Emergency Department.
Outpatient clinics are convenient in such a way that they provide all sorts of medical services under one roof. More specialized healthcare facilities, such as mental health facilities, are being added into these settings. Therefore, these kinds of services can prove to be a great investment. In a few years, we will see many of these outpatient clinics in all shapes and sizes throughout the country!
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