FORT WORTH, TEXAS (October 22, 2018) — The healthcare industry of today is rapidly changing to keep up with new consumer expectations, and it is no surprise that these fundamental changes are affecting healthcare organizations’ real estate strategies. Buxton, a consumer analytics firm, recently published a whitepaper highlighting the changing real estate environment for healthcare organizations.
The report, “Healthcare Real Estate: A U.S. Market Update,” provides insights surrounding the shift to outpatient facilities, retail-style healthcare, and proprietary data on the best markets for healthcare providers. Buxton hopes the insights can act as a guide for healthcare organizations’ real estate investment decisions.
“The healthcare industry is transforming,” says Tom Buxton, president and CEO at Buxton. “When consumers go to a doctor today they want the same experience they get at retail outlets, a convenient location and a healthcare brand they can trust.”
Buxton believes with the “retailization” of healthcare, providers should think more like retailers as they make real estate decisions. This means considering patient psychographic data when deciding where to open new locations. To illustrate this idea, Buxton developed a list of the top healthcare markets based on consumer engagement with traditional healthcare providers. Markets like New York-Newark-New Jersey, Boston-Cambridge-Newton and Miami-Fort Lauderdale-West Palm Beach topped the list for most engaged consumers with healthcare providers.
To further assess opportunities, Buxton identified markets with the lowest penetration of primary care providers and compared these markets based on their healthcare engagement rates and population growth rates. Las Vegas-Henderson-Paradise, Riverside-San Bernardino-Ontario and Raleigh rose to the top, suggesting these markets would be strong contenders for healthcare providers looking to expand.
“It is absolutely crucial for healthcare providers to be looking at data,” said Bill Stinneford, senior vice president at Buxton. “With the rapid change we are seeing in the healthcare environment, now more than ever, providers need to leverage data if they want to be able to make confident decisions.”
The report also covers healthcare real estate market fundamentals and site selection essentials for providers picking new locations. To access the full report from Buxton, visit https://www.buxtonco.com/learn/healthcare-real-estate-a-u.s.-market-update.
Buxton is the industry leader in customer analytics. Our analytics reveal who your customers are, where more potential customers are located and the value of each customer. More than 4,000 clients in the retail, restaurant, healthcare, private equity and public sectors have relied on our insights to guide their growth strategies.
For more information, visit www.buxtonco.com.