Finance & Enjoyment Blog

CPA Denver: A Growing Trend in Hospital Construction

You may have noticed a trend, or heard of an upcoming trend in hospital construction. KKB will examine the reasons why this trend is happening and why you may see it continue for the next couple of years.

Since the Affordable Care Act (ACA) came into law, hospitals and health systems primarily have been focused on how to respond to the quality, clinical and economic issues associated with the legislation. Many facilities need to answer the question of”Are our existing facilities ready to manage the transition from volume-based care to value-based care?”

Many hospitals around the country have already taken steps toward answering the facilities’ question. One of the trends to watch for in 2014 was hospital construction, either with new campuses or additions to existing buildings. According to a survey from Health Facilities Management Magazine, 51% of respondents said they are considering the ACA in senior leadership discussions about potential changes needed to existing facilities or campus design.

In California, there are a number of high profile hospitals that will complete new hospital campuses in 2014 along the North Bay. Englewood hospital in New Jersey is building a new facility that will feature a family birthing center, a cancer center and a wellness center when it opens in 2016. These are just a couple of examples of new hospitals projects that have started, or will finish in 2014, and we expect more to take place before the end of this year.

This growing trend of hospital construction should be something that will continue in 2014 and beyond. Along with value-based care and patient satisfaction, our aging population is another reason why hospital construction has increased. Hospitals also need to be ready for the overall growing population, increased service demands, advancing science and patient satisfaction.

How to use this Information KKB, your Denver CPA firm, is not an expert in building hospitals. However, we’re always searching for new trends in healthcare and some reasoning behind those trends. We’ll be here to help you with your taxes and financial planning, and, of course, here to help with the rules and regulations of the new Affordable Care Act. Contact us today at 303-815-1100 or visit our website at www.kkb-cpa.com for more information.

What do you think of all the new construction projects?


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