News & Insights
How Research Can Inform Healthcare Real Estate Development
Chris Smith, James Crispino, Nicholas Watkins
Healthcare Design Magazine
May 8, 2023
Courtesy of @Gensler
Featured in Healthcare Design
Historically, the development of healthcare real estate has been a bifurcated process by which real estate developers buy either land to build new facilities or buildings to redevelop. Then the end-user, whether a medical practice, ambulatory surgical center operator, or healthcare system, purchases or leases the facility.
Usually there is limited, if any, collaboration between the developer and the end user on the design of the facility. However, the successful bonding of real estate development and medical facility design requires a comprehensive focus on the strategic priorities and needs of physicians, providers, healthcare systems, and the patients and families they serve.
Aspect Health Inc., a Connecticut based real estate owner/developer/operator with an extensive background in hotels, multitenant office buildings, and medical office buildings, is working to address this disconnect. Its goal: to deliver advanced healthcare facilities using the latest research and technologies to deliver a better overall experience, not only for patients but also the providers and health systems that serve them. Christopher R. Smith, CEO of Aspect Health, defines this concept as “healthcare hospitality.”
Once Aspect Health identified the development design/disconnect and recognized the value inherent in hospitality-driven healthcare, it launched the concept of research-informed development.
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