Healthcare sector a major driver in the real estate market
NK Principal Ben P. Lee, AIA, recently shared some insights into how the healthcare sector has emerged from the great recession of 2008 as a reliable investment for real estate developers and the capital market.
In the article, published both in print and online by Real Estate NJ, Ben draws on recent experience to define several major drivers behind the real estate opportunities created by changes in the healthcare sector. These drivers include:
- The influence of Centers for Medicare & Medicaid and changes in health care insurance reimbursements driving the need to transform from tertiary services to ambulatory services.
- Increased competition driving health care organizations to increase their catchment areas.
- Accountable Care Organizations focusing on improving population health outcomes have led to a new focus on needs (such as behavioral health, subacute care, long-term care, and hospice care) that have been historically unmet.
- The need of health care systems for third-party financing. This need began with medical office buildings and has extended recently into specialty care practices.
Ben Lee is the 2017 New Jersey chapter president of the American Institute of Architects and has more than 35 years of experience in the field of architecture. The managing principal and chief financial officer at NK Architects, Ben’s specialized experience includes health care, behavioral health and senior care. He is a board-certified health care architect by the American College of Healthcare Architects. He is a registered architect in 25 states and Washington, D.C. He also has a master’s in management and has prior experience including planning and development for real estate development companies.
AIA is the professional organization that helps architects serve the public’s needs and builds awareness of the role of architects and architecture in American society. AIA New Jersey has 2,000 members in six local sections and has served as the voice of the architecture profession in the Garden State since 1900.