SCOTTSDALE, AZ—During an exclusive fireside chat hosted by JLL at GlobeSt. Healthcare Real Estate, a national conference, experts explored how big data is used to help clients make informed real estate decisions. Topics discussed include what does "big data" mean, how it is gathered and interpreted, and what type of tangible results it has produced.
According to Abby Waner Bartolotta, VP of healthcare real estate at JLL, having a data tool only gets you so far. "You have to actually be able to sift through the information."
When looking at data, we start by looking at general demographic data and once you get your hands around what the demographic and geographic situation is, she said, you look at the medical needs in that community. "The goal then is to identify high demand medical needs and then turn around and look at supply and provider density."
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According to Matthew Coursen, executive managing director and market leader of the Mid-Atlantic Healthcare Group at JLL, sifting through the data is a shared responsibility. "We have access to claims data and procedure volume data and come to the table with our clients with most of the data," he said. But he notes that you have to be careful when handling PHI to be sure you protect the data. "We use data and analytical software to make decisions."
He adds that the data isn't a bullseye that says "go put this tenant there." Instead, he said, "we say to our clients that we want to add to the process. It isn't all about data. You have to factor many different pieces of information into these decisions."
Coursen added that using the data simply adds to the conversation and strategy building. "Our goal is to help understand where the competition is, where they can grow, find new patients and shift existing patients to a new facility to unlock the efficiency of another facility." Many things are at play there, he explained. "If you aren't at least exploring data and analytics, you should think about it to help you think about how it can help you with the broader strategy."
Check back with GlobeSt.com in the coming days for more from the national Healthcare Real Estate conference.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
