The potential economic benefits, along with addressing possible risks of existing, potentially damaging, compliance outcomes, should provide the underlying motivations for health systems to pursue a real estate optimization strategy.
Knoxville, TN (PRWEB) October 20, 2014
Changes in the healthcare industry have dictated that hospitals and health systems determine ways of reducing costs, but in doing so, they often overlook their real estate portfolios and the potential savings that lie within. Finding and achieving cost savings in healthcare operations and programs has become critical to maintaining competitiveness, according to a new white paper from Realty Trust Group (RTG).
Titled Healthcare Real Estate Optimization—Generating Cost Savings and Creating Value in a Changing Industry Landscape, the white paper explains how many of the practical, fundamental real estate optimization applications used in other industries can be employed by healthcare organizations as well. These methods and strategies can create value and improve efficiencies. Further, they can help health systems mitigate legal and regulatory risk.
The paper offers six major areas for which appropriate data collection and/or data analysis is required in order to assess opportunities for creating value. It also takes a look at three facilities management models often used by health systems and stresses the importance of choosing the right optimization strategy for your organization.
According to the white paper, “The potential economic benefits, along with addressing possible risks of existing, potentially damaging, compliance outcomes, should provide the underlying motivations for health systems to pursue a real estate optimization strategy.”
A leader in real estate advisory since 1998, RTG assists hospitals, health systems, and physician groups, as well as other owners, users, and investors of healthcare real estate by providing innovative solutions to complex and challenging real estate issues. The firm’s offerings include portfolio optimization and monetization, project development services, strategic facility planning, property management, and fair market value opinions.
For more information about RTG’s approach to healthcare real estate optimization, contact Greg Gheen at RTG, (865) 521-0630.
About RTG - Since its inception in 1998, Realty Trust Group has become one of the most respected independent real estate advisory firms in the healthcare industry, with offices in Knoxville, Tennessee, and Atlanta, Georgia. For more information, visit http://www.realtytrustgroup.com. RTG is an affiliate company of national healthcare consulting firm PYA.
About PYA - For over three decades, Pershing Yoakley & Associates (PYA) has provided timely insight and strategic support, helping clients thrive in the midst of rapid change. PYA is ranked by Modern Healthcare as the nation’s twelfth largest privately held healthcare management consulting firm. For more information, visit http://www.pyapc.com/.