News: Brokerage

The Business Council of Westchester’s State of the Economy series discusses healthcare

Shown (from left) are: BCW chairman of the board James Schutzer of Alera Group; Joe Simone, president, Simone Development Cos.;
Jennifer Malone-Seixas, regional VP, Westchester/Fairfield, Atria Senior Living; Michael McGoldrick, chairman of the board,
president and CEO, PCSB Bank; BCW president & CEO Marsha Gordon; Paul Dunphey, senior VP and COO, NYP Westchester Hospital
and president, NYP Hudson Valley Hospital; and Dan Blum, CEO, ENT & Allergy.

White Plains, NY Westchester County’s healthcare landscape is undergoing a transformation, according to panelists at the Business Council of Westchester’s (BCW) State of the Economy series.

The panel discussion delved into key trends reshaping medical care in the region. The panelists included Dan Blum, CEO, ENT & Allergy; Paul Dunphey, senior VP and COO, NYP Westchester Hospital and president, NYP Hudson Valley Hospital; Jennifer Malone-Seixas, regional VP, Westchester/Fairfield, Atria Senior Living; and Joe Simone, president, Simone Development Companies.

Panel moderator and BCW president and CEO Marsha Gordon started the conversation by underscoring the regional impact of the healthcare sector. “Local hospitals and health systems represent almost $20 billion in economic activity in the 16th Congressional District, which covers central and southern Westchester. That’s just the hospitals systems in one district,” said Gordon, citing data from the Healthcare Association of New York State. “That includes almost 83,000 jobs generating nearly $5 billion in tax revenue for local and state governments. The health sector provides 4.4 million in outpatient appointments and treated 664,000 patients in emergency rooms in 2023.”

A theme was the increasing integration of artificial intelligence (AI), with panelists highlighting its growing impact on claims adjudication, patient screening, and the crucial task of reading diagnostic tests. AI’s role in streamlining operations and enhancing diagnostic accuracy is set to revolutionize healthcare delivery.

The discussion also addressed the ongoing consolidation of local healthcare into large networks. These systems are now offering comprehensive “cradle-to-grave” care, located within Westchester and providing access to top medical talent from New York City. This shift aims to offer patients a more integrated and accessible healthcare experience.

Westchester County executive Ken Jenkins delivered a greeting, and he commended the healthcare leaders for their vital work and significant contributions to the local economy.

A major development on the horizon is the fall opening of NewYork-Presbyterian The One, Westchester’s newest healthcare facility at 1111 Westchester Ave. in White Plains. This $500 million complex promises to be a game-changer, offering over 90 adult and pediatric care services and featuring leading doctors from Columbia, further solidifying Westchester’s position as a hub for world-class medical care.

The panel emphasized a crucial reorientation of healthcare delivery towards the consumer experience. This new focus prioritizes convenience, speed of care, and strategic location, acknowledging the evolving expectations of patients in today’s fast-paced world.

Addressing the critical challenge of workforce development, the panelists discussed the growing need for new doctors and nurses, especially with an aging population. A promising solution highlighted was the new workforce pipeline created through NewYork-Presbyterian’s partnership with Iona University and the establishment of The NewYork-Presbyterian Iona School of Health Sciences. This collaborative initiative offers a forward-thinking vision for healthcare education, directly connecting students with job opportunities.

Finally, the expansion of senior living communities as the population ages was a key topic, along with the common misconceptions the public holds regarding planning for long-term care. This underscored the need for greater public awareness and education on future care needs.

The panel’s insights revealed how Westchester County is not merely adapting to these changes but actively serving as a blueprint for the consolidation of healthcare and the delivery of world-class medical care in suburban areas.

PCSB Bank was the presenting sponsor of the event, which was held at 360 Hamilton Ave.

MORE FROM Brokerage

REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced