Anthony Frogameni – Featured Speaker at Recent AMFP Tampa Summit

Anthony Frogameni, Vice President of Development with Optimal Outcomes, was a featured speaker on the recent AMFP Tampa Summit panel titled “The Future of Healthcare Real Estate”. Frogameni, along with fellow panelists,  Thomas Wittenberg, Vice President for Realty Trust Group and Mervyn Alphonso, Executive Vice President, Anchor Health Properties, shared their views on trends impacting the healthcare real estate market here in Florida and beyond. 

Several highlights from the panel discussion are included below: 

  • The panelists discussed the continued shift to outpatient care, driven in part by advanced technology allowing for more complicated procedures to take place in the ASC/outpatient setting. Growing demand for outpatient facilities is also being driven by the “retailization” of healthcare and the need to adapt to consumer preferences.
  • The market is experiencing increasing construction costs driven by inflation, supply chain issues, and labor shortages, among other factors. The increased costs have forced providers to be very diligent in the projects that they take on and have highlighted the importance of working with experienced development and construction teams to control costs and maximize the efficiency of projects.
  • The healthcare industry is experiencing rapid consolidation nationally as well as here in Florida. The consolidation is creating challenges for smaller groups to remain competitive, and these challenges often spill over to the real estate side as well. The presence of larger groups that often have bigger budgets for capital projects has led to a dramatic increase of new healthcare projects breaking ground. The increased competition is driving many providers to rapidly expand their outpatient footprint to bring care closer to their patients. In addition, the increased competition stresses the importance of creating facilities that will attract patients and grow brand awareness.
  • Record amounts of capital are entering the healthcare space, including on the real estate side. Healthcare real estate has become a more “mainstream” asset class and valuations of quality medical buildings are at record levels.

Despite the many challenges that providers are facing today, the panelists see a bright future for the healthcare real estate sector.