Healthcare Focus: Seniors Decentralization
David Waite was mentioned in a May 21, 2013 article published on GlobeSt.com about a recent panel centered on major trends in healthcare care and their impact on real estate. Waite moderated a panel called “Health Care Consolidation and Decentralization: Land Use Perspectives” during the ULI Spring Meeting in San Diego.
During the discussion, Waite said that healthcare for seniors is expected to grow dramatically given that the number of people 65 and older is expected to expand by 35 percent in the next 10 years. It is estimated that half of someone's healthcare-related expenditures occur after age 65. Waite also noted that the Affordable Care Act will mean that 30 million people who lacked insurance will have it, meaning that an additional 91,500 physicians will be needed by the year 2020. As a result, much more healthcare space will be necessary.
The panel discussion addressed the trend toward keeping patients out of hospitals and doing more preventative care and procedures in an effort to keep costs down. The panelists also predicted that more doctors would work in hospitals and there would be fewer private practices.