Industry Analysis & Industry Trends
The Hospital Construction industry has faced challenging conditions over the past five years. In addition to the broader downturn facing the construction sector, hospitals faced a high degree of fiscal uncertainty due to potential changes from the Patient Protection and Affordable Care Act. In the coming years, the industry is expected to enter into a recovery period. . The implementation of the Patient Protection and Affordable Care Act will result in more than 32.0 million individuals gaining access to healthcare insurance coverage, driving up the demand for hospital services. Furthermore, the gradual aging of the US population will also result in greater demand for hospitals.... purchase to read more
Industry Report - Industry Products Chapter
The Hospital Construction industry's main activities include new hospital construction and additions to existing hospitals. This industry also provides remodeling services to improve existing hospitals and management services to improve overall workplace and project efficiency.
Hospital new construction
Industry participants operating as general contractors on the construction of new hospitals generate 55.1% of industry revenue. Typically, construction companies obtain contracts by bidding on one that the property developer puts out. Contracts normally require the general contractor to oversee all aspects of the project, including quantity surveying, material purchases, skilled labor, subcontractor recruitment, construction and lockup... purchase to read more