A new report by commercial real estate firm CBRE found the number of U.S. outpatient facilities surged from 26,900 to 40,600 between 2005 and 2016. A CBRE representative stated this surge is due to a renewed focus on making healthcare services more convenient and more affordable for patients.
Other key findings include:
- Rents grew significantly, reaching a peak $22.90 per square foot in the second quarter of 2018
- Medical office vacancy rates fell from 11.1 percent in 2010 to 8.4 percent in the second quarter of 2018
- Technology and reimbursement pressures are other contributors to the push toward lower-cost settings for healthcare services
A CBRE analysis of data from the Bureau of Labor Statistics found that jobs in the ambulatory sector are up 77 percent since 2000, and since 2003, employment at outpatient centers has more than doubled. To read additional findings from CBRE’s report, please click here.
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