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Yale New Haven Health System is affiliated with the Yale University School of Medicine and is headquartered in New Haven, Connecticut.
The system needed support reviewing its existing ambulatory services, identifying opportunities to consolidate fragmented and/or redundant services, and quantifying the space implications of consolidating services. The goal of site consolidation was to reduce the system's 200+ sites to a more geographically and service-oriented appropriate grouping of sites.
Hammes conducted an in-depth real estate portfolio analysis for Yale New Haven Health. This included an in-depth study of the local real estate market to benchmark the system's current facility costs and evaluation of the financial impact of pursuing various facility alternatives including the renovation of existing facilities, relocating to alternative leased space, and development of a new, consolidated ambulatory facility. Hammes also completed an analysis of the system's real estate operations including alternatives for more efficient coordination, portfolio enhancement, and integration/consolidation of non-core assets. Strategies were developed on an individual asset basis, which incorporated the system's strategic, operational, and financial objectives.
Yale New Haven Health benefited from the real estate optimization plan in the following ways: reduced lease costs and improved control of system real estate costs; economies of scale and operational efficiencies (reduced total support staff, shared space, and overhead); larger, more visible, and attractive branded sites that increased convenience for patients; and accommodated growth and promoted clinical group practice in combined flexible sites.
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Hammes conducted an in-depth real estate portfolio analysis — benchmarking facility costs, evaluating renovation, relocation, and new-development alternatives, analyzing real estate operations, and developing per-asset strategies that incorporated the system’s strategic, operational, and financial objectives.
Yale New Haven Health System is headquartered in New Haven, Connecticut, and is affiliated with the Yale University School of Medicine. The portfolio analyzed in this engagement spans sites across New York, Connecticut, and Rhode Island.
The portfolio totaled approximately 700,000 square feet across more than 200 sites. The goal of the engagement was to consolidate these into a more geographically and service-oriented appropriate grouping of sites.
Reduced lease costs and improved control of system real estate costs; economies of scale and operational efficiencies (reduced total support staff, shared space, and overhead); larger, more visible, and attractive branded sites that increased convenience for patients; and accommodated growth and promoted clinical group practice in combined flexible sites.
Real estate optimization is a Hammes Advisory service in which Hammes evaluates a health system’s portfolio against the local real estate market, benchmarks costs, models renovation/relocation/new-build alternatives on a per-asset basis, and produces a strategy aligned to the system’s strategic, operational, and financial objectives.
