Quick internet searches would tell you that the hospital sector is closing or shrinking due to growth in the outpatient sector. Revista data, however, paints a different picture of the hospital sector. Yes, there are hospitals closing but there are also many hospitals expanding or, even building new. In fact, Revista’s database has profiles on 63 brand-new or replacement hospitals that broke ground in 2017. These 63 hospitals represent over $7.6B of construction value and contain over 5,300 beds. Overall, new hospital construction volume is steady year over year. The 63 hospitals started were more than the 51 in 2016, but volume, total square feet and average size were down a bit. This reflects a growing trend of smaller, sometimes micro hospitals being constructed across several states.
For even more information on hospital construction, consider a subscription to Revista. Revista’s database covers detailed information on over $83B of hospital construction. To learn more, please contact Hilda Martin at firstname.lastname@example.org or (443) 949-8794.