Hospital facilities are popping up in closer proximity to one another as part of a nationwide building boom, with San Francisco, Denver and Chicago spending the most on hospital projects in the past two years, according to a Pittsburgh Tribune-Review report.
An editorial investigation conducted by the newspaper led to the following findings:
• From 2008-Nov. 1, hospitals borrowed $144 billion through public bond issues for construction, refinancing, equipment and other expenses.
• Though the number of hospital beds in the United States has dropped by 250,000 since 1990, the occupancy rate remains steady at nearly 70 percent, showing a general lack of need for more bed space.
• San Francisco leads the nation in hospital construction, due in part to a California mandate to build hospitals able to withstand earthquakes. Six hospitals currently planned or underway have cost $4.9 billion in the past four years.
• Hospital building has become a popular defense strategy for health systems. In Pennsylvania, UPMC is building a $240 million hospital less than a mile from Forbes Regional Hospital, which is owned by rival West Penn Allegheny Health System.
Related Articles on Hospital Construction:
Regions Hospital in Minnesota to Invest $9.5M for Construction
Chandler Regional Medical Center in Arizona to Build $125M Tower
Edward Hospital in Illinois Proposes $63.7M Expansion Plan
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
