|There are more than 1,600
measurements used in the healthcare industry to measure
quality of care but they don’t mean anything to the
consumers. This stunning statement from David Sandman,
president and CEO of New York State Health Foundation,
was one of a multitude of takeaways at the 3rd Annual
NYC Hospital & Medical Facilities Summit in September.
Sandman said the industry needs outcome
measures to which normal people can relate, such as:
“Did they clean their hands? Did they give correct meds?
Did they connect the patient with a community doctor?”
Sandman was one of 15 presenters at
the summit at New York Presbyterian’s Heart Conference
Center. The summit, which sold out for the third
consecutive year, is co-hosted by SquareFootage and the
IFMA Health Care Institute.
“There needs to be a Consumer
Reports-like guide for healthcare,” agreed David Peknay,
director, Corporate Healthcare Ratings, S&P Global
Ratings Services (formerly Standard & Poors). He thinks
we are moving in that direction, but slowly.
Healthcare real estate trends also
made up a significant chunk of the discussion.
“Investors now covet outpatient facilities. Montefiore,
New York Presbyterian, and Northwell continue to grow
their portfolios,” said Mike Hargrave, Principal,
Revista. “With nearly $1 trillion in real estate value,
the healthcare sector far exceeds hospitality and other
The presenters noted that many
healthcare organizations are re-analyzing their property
portfolios and working with real estate and capital
markets specialists to determine whether to own or
Jeffrey Cooper, managing director,
Healthcare Real Estate Capital pointed to one growing
trend. “Nationally, weaker hospitals are being acquired,
and then the acquiring organization is doing a
sale-leaseback of the real estate assets to help fund
the acquisition, improve the balance sheet, and invest
in projects that improve the financial performance,”
“If a health system monetizes real
estate asset, it can take two years to think through all
the details,” added Mary Beth Kuzmanovich, national
director, Health Services, Colliers International.
Additional key takeaways from this
summit can be found