There’s been a recent rise in the growth of medical outpatient buildings, increasing 15% in 2024 compared to the previous year and reaching over 19 million square feet. This is due to a variety of reasons, including advancements in technology like telemedicine and AI usage. An aging population is also contributing to this growth because more care is required. The number of people aged 80 years or older is expected to grow by 55% within the next decade. Healthcare facilities are shifting to more outpatient care, which offer more convenient services, lower costs, and improved patient outcomes.
As medical outpatient buildings continue to grow, it’s important to ensure operational and financial efficiency. That’s where the right investment management software can act as a truly transformative tool. Let’s learn how.
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Managing Medical Outpatient Buildings: What GPs Need to Know
GPs face unique challenges when managing medical outpatient buildings (MOBs). They need to be aware of healthcare-specific considerations and regulatory requirements. Property owners and GPs must also manage a mix of various tenants, all with unique needs, such as labs, imaging centers, and specialist offices.
Utilizing quality investment management software can help keep track of everything involved in your medical outpatient investment. Performance tracking features will allow GPs to view real-time budget data which will help them make future financial decisions. The right platform can also help automate rent collection and manage revenue.
GPs and investors can also optimize their portfolios with comprehensive software. Identify underperforming assets and track benchmarks with data-driven insights to improve decision making. Streamlining operations can also be easier with investment management software. It can help you schedule maintenance and manage vendors for your medical outpatient buildings, as well as document and report important regulatory updates. It’s vital to ensure your investment management platform can support all of these crucial features for your MOB transaction. Covercy can help.
The Role Covercy Can Play in Outpatient Building Management
With Covercy’s innovative platform, GPs can easily organize their operations and keep track of important project updates. Our platform features a robust investor portal, where stakeholders can view performance reports, share secure documents, view transaction history, and more. This can help both GPs and investors stay informed and engaged throughout the deal.
Our third-party banking features are seamlessly integrated into our software, allowing for relevant parties to process distribution payments, fundraise, and earn interest on uncalled capital. In addition, our new AI capabilities can help you send emails or reports, and gain valuable market insights to inform your next deal. Get the data-driven information you need to help you find success in your next CRE investment. Learn more about how Covercy can help you manage your medical outpatient deal or book a free demo now.