The commission outlined the position in a public state report sent to the Maryland Health Care Commission, which will make the final decision on which project can proceed. Adventist’s hospital is estimated to cost $177 million, while Holy Cross’ would cost $202 million, according to the Journal.
The cost review commission cited the difficult economy, reimbursement pressures and the future unattractiveness of hospital bond offerings as factors likely to drive up the cost of capital, according to the report.
Adventist is hoping to build a hospital, medical building, nursing home and day-care center in Clarksburg, Md., while Holy Cross wants to build its hospital on Montgomery College’s campus in Germantown, Md.
Read the Washington Business Journal report on Adventist HealthCare and Holy Cross Hospital.
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