Real estate follows strategy, not the other way around. Real estate decisions should be evaluated relative to the healthcare provider’s organizational objectives and healthcare services platform. Common healthcare-driven strategic objectives might include physician alignment initiatives, service line expansion, and market share growth.
Knowledge is power. This is especially true when it comes to effectively managing a large, dynamic real estate portfolio. Spreadsheets can certainly be valuable tools for portfolio tracking, but an integrated portfolio database platform can streamline tracking and reporting functions.
The Hospital-Physician relationship goes far beyond real estate, but real estate is often a key component of the overall relationship. Successful portfolio management prioritizes long-term relationships, not episodic real estate transactions, to achieve strategic alignment of interests with the physician community.
The “Environment of Care” is likely the largest single factor in the overall patient experience. Enterprise facility management is a comprehensive approach that goes beyond traditional maintenance and engineering to align all facility support services and ensure an environment conducive to a positive interaction between the patient and provider and the delivery of high-quality healthcare services.
Healthcare real estate arrangements can present numerous compliance pitfalls, any of which can trigger a violation under the Stark Law and Anti-Kickback Statute. An effective portfolio management approach requires a comprehensive understanding of the applicable statutes and integration of proper controls into corporate real estate policies and procedures.