Free Facilities For Cash-Strapped Hospitals
(Reprinted from Health Facilities Management Magazine, April 2000)
For many hospitals, spare cash and extra space are often in short supply. Many don’t have the free capital they need for remodeling and expansion or the room to house the increasing number of outpatient services that they now provide.
As an alternative to expensive remodeling, many hospitals are choosing to erect a new medical office building on their hospital campus to help fulfill retrofit requirements and meet the need for more outpatient space. However, the hospitals must consider the balance-sheet impact of building a new facility.
One San Diego company – Pacific Medical Buildings – offers a viable solution to hospitals and medical groups in need of new facilities. Pacific pioneered the developer-owned medical office building, which provides hospitals with new facilities at no cost.
In 1998, the company began developing outpatient facilities and physician offices on hospital campuses without any investment from the hospital. The unique program allows hospitals to expand their facilities without the risk of capital investment.
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