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Financing Your Hospital Construction Project

By CME on Sep 9, 2014 12:21:12 PM

Success in design and construction of healthcare facilities is dependent on many factors, including a strong focus on the patient experience, application of cutting edge technology, adherence to a schedule, and strict control of the budget.  The most critical factor in assuring the successful completion of a construction project is obtaining adequate financing to cover all of the actual construction costs, along with the attendant equipment costs to properly outfit the newly constructed space. In addition, with procurement costs consuming between 30% and 50% of total project funds, allowances need to include in the construction budget for shipping, storing, delivering, and installing the equipment.  In addition, the involvement of reliable clinical consultants, along with space and equipment planners may be of great benefit to the success of the project.

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