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July 2014
Two of the most productive medical office leasing and sales specialists in the Phoenix marketplace, with a combined 35 years of experience, have joined the Phoenix office of Newmark Knight Frank (NKF). Kathleen Morgan, CCIM, and Trisha A. Talbot, CCIM, have been named directors as part of the Global Healthcare Services team, further expanding the national team’s reach.
As if hospital executives didn’t have enough to keep them up at night, with their days spent trying to cut costs while improving efficiencies and outcomes, they are also concerned with risk mitigation as it relates to “anti-kickback” statutes, such as Stark, Safe Harbor and Fraud & Abuse.
Back-office space may be a key component of a clinical environment, but it is not revenue-producing, and minimizing non-revenue-producing space is critical in the current reimbursement environment. One way of reducing such space is to effectively leverage technology, an area where Electronic Medical Records (EMR) systems are proving helpful.
Healthcare development competition heats up. Sales of medical office buildings topped $6.7 billion in 2013, according to Real Capital Analytics, proof that this niche sector remains attractive to investors ranging from large institutional funds to the medical practice groups that buy their own facilities. Some experts in the field wonder if there will be enough product to meet investors’ needs. Already capitalization rates have reached a six-year low of 7.3 percent nationally, according to RCA data.
