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Health Care Reit: Facilities
built 677 days ago
Post-acute provider Integrated Health Services will buy Community Care of America in a cash deal valued at about $94 million. The deal is expected to be completed within 90 days. CCA, based in Naples, Fla., operates 54 long-term-care facilities, a physician practice and an outpatient rehabilitation center. Owings Mills, Md.-based IHS said the addition will broaden its post-acute network in rural areas. IHS ... said it will acquire home-care operator Arcadia Services of Southfield, Mich., for undisclosed terms.
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Health care waste treatment is linked to bioaccumulative toxic substances, such as mercury and dioxins, which suggests the need for a new approach to product selection. To address environmental issues proactively, all stages of the product life cycle should be considered during material selection. The purchasing mechanism is a promising channel for action that can be used to promote the use of environmentally preferable products in the health care industry; health care facilities can improve environmental performance and still decrease costs. Tools that focus on environmentally preferable purchasing are now emerging for the health care industry. These tools can help hospitals select products that create the least amount of environmental pollution. Environmental performance should be incorporated into the evolving definition of quality for health care.
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Health care REITs build, acquire and lease specialty buildings such a hospitals, nursing homes, medical buildings and assisted-living facilities. This REIT sector is fairly immune to recession, although they are largely dependent upon the financial health of the lessee which, in turn, rely on the medical reimbursements provided by the U.S. Government. Federal changing in health policy would obviously have a significant affect on health care REITs.
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In 1998, Genesis Health Ventures received 20 percent of revenues from Medicare, twice the industry average. In 1999, GHV is experiencing financial difficulties under the new Medicare prospective payment system of reimbursement. Profits from Medicare have declined and demand for specialty medical services, provided by Genesis ElderCare under contract to other facilities, has ... dropped.
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There are many other opportunities for the health care industry to assess and improve its environmental performance while reducing costs. These opportunities downstream of the health care facility involve waste treatment. Some facilities have implemented recycling programs, segregating their waste streams for optimal end use such as recycling and materials recovery (17). In addition, other facilities have instituted upstream programs to prevent pollution, such as focusing on reducing mercury use. Reducing mercury emissions by installing pollution control equipment such as mercury traps in drains can be considered a downstream tactic.
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Medical office buildings are office and clinic facilities, often located near hospitals or on hospital campuses, specifically constructed and designed for the use of physicians and other health care personnel to provide services to their patients. They may ... include ambulatory surgery centers that are used for general or specialty surgical procedures not requiring an overnight stay in a hospital. Medical office buildings typically contain sole and group physician practices and may provide laboratory and other patient services.
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