August 28, 2006
Yesterday we reported hospital construction costs are skyrocketing in the midst of an industry-wide building boom. Today The Tennessean reports HCA is moving forward with several hospital construction projects despite the fact the hospital chain is in the midst of a $33 billion buyout. HCA has spent an average of $1.5 billion in capital projects in the last five years and will spend $1.8 billion in 2006. Among the planned projects is the 126-bed Spotsylvania Regional Medical Center in Virginia, which the hospital chain just received approval for yesterday. Last month HCA also was approved to build 56-bed hospital in Spring Hill, Tennessee. And the building boom isn't limited to HCA. Spending on healthcare facility construction, according to the Census Bureau, was just $15.3 billion in 1995. That number jumped $26.7 billion in 2004.
The Tennessean
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