Infection Rates Lead To Demand For Senior Residential Care Communities Near Hospitals
By William Henry PhD
The Continuum of Care Near Hospitals
Part of the recent saga concerning Medicare, Medicaid, and Obama Care is the impact on demand for lower cost outpatient care residential facilities near acute care hospitals. These facilities span the gamut between independent living, assisted living, senior living and finally skilled nursing facilities. This is often dubbed the ‘continuum of care facilities’. Of little note is how infection rates related to acute care procedures will likely spur long term care development around hospitals.
Infection Rates Spur Expansion of the Continuum of Care
As the game rules change in addressing the government budget crises, one particular regulation troubles hospital administrators. This calls for reduced reimbursement rates for treating infections that arise due to acute care stays. For instance if a patient develops a Staph infection as a result of a surgical procedure then the hospital must absorb the cost for re-admittance and short term care without and/or with reduced opportunity for government program reimbursement. This has created an incentive for acute care hospital directors and boards to consider becoming more involved in developing relationships with nearby long term care treatment facilities. Some nursing assistance with certain standards for sterilization and cleanliness can reduce infection rates subsequent to surgical or other invasive procedures. What does this mean in terms of the opportunity to develop or invest in residential communities that incorporate any one or all of the components of the ‘continuum of care’?
Investing in Retirement Communities near Hospitals known for excellence
Those in the 55 and up age category who are considering settling in one of Florida’s numerous retirement communities would be wise to consider proximity to a hospital known for excellence. This should be done not just for the potential need for emergency response, but for the enhanced appreciation potential of the residence. For instance areas such as Downtown St. Petersburg, Florida with the confluence of Bay Front Medical Center, St. Anthony’s and All Children’s Hospitals and now Johns Hopkins, should be a Mecca for rising residential values and a growing potential for new components in the continuum of care.
Florida Investment opportunities
Additional higher end, more urban rental and ‘for sale housing’ near hospitals of excellence could ensue. Despite the depressed state of Florida real estate, those seniors with newly acquired disposable income from home sales may consider high end rentals with some health care services. Institutional investors sitting on large cash reserves are already seeking such rental property opportunities. Larger cities such as Chicago are already seeing these institutional dollars chasing investment opportunities in high end residential communities with hospitals of excellence at the core and the surrounding continuum of care surrounding them. In Florida the weather, beaches and waterfront, along with the abundance of golf course and outdoor sports recreational facilities, provide a nexus for such developments.
[1]Reliable Group, LLC Architects AA# 0003523 is a well-known architectural and construction management firm based in Tampa, Florida. RGA is headed by Dr. William Henry, both an architect and certified expert witness who issues opinions and testimony concerning design and construction related matters. Having designed over 250 landmark buildings in the state of Florida, he has represented and testified for both plaintiffs and defendants in cases involving code violations such as associated with design and construction defects as well as American Disabilities Act – ‘ADA’ violations. William Henry, PhD (Bill) may be reached at (813) 226.2220 or bhenry@rga-design.com [2].
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