- Joined
- Feb 23, 2008
- Messages
- 1,475
- Reaction score
- 9
I've been pondering this. Do you think it would be possible? How would you set it up?
Possible to start a hospital!?
- Thread starter psychforme
- Start date
- Joined
- Mar 28, 2008
- Messages
- 998
- Reaction score
- 3
I've thought a little about this,
concern would be that in many major markets, there are massive entities (Kaiser, Catholic Hospitals, Lutheran Adventist, etc) that have enormous buying power & can muscle suppliers to get really cheap hospital supplies etc, and that there'd be high "barriers to entry" because of this.
possibility (I'd think) would be to speak with counties/states that are "medically underserved" to see what incentives they would offer if you were to start a hospital in their area. Maybe federal incentives are available too?
I know there are medical consulting firms that assist in setting up a practice; I think it would be necessary to find someone who knows the details to setting up billing procedures, patient admit procedures, screening employees, etc. May need to pay a hourly consultant for their expertise in this. + if you have a building built, would need to work with a specialty architectural engineering firm that is experienced with designing hospitals specifically. Probably some special contractor experience would be needed, i.e. need to hire contractors who have hospital building/repairing experience.
Not sure what the rules are regarding departments -- if you have to have an OB section/ER/Surg unit, or if you can set up a "hospital" that only does select medical procedures? I'd think a hospital (verus a practice) would have to offer diversified services? I'd suspect this can be done, but your role would be far more managerial/entrepreneurial than medical for quite a while.
concern would be that in many major markets, there are massive entities (Kaiser, Catholic Hospitals, Lutheran Adventist, etc) that have enormous buying power & can muscle suppliers to get really cheap hospital supplies etc, and that there'd be high "barriers to entry" because of this.
possibility (I'd think) would be to speak with counties/states that are "medically underserved" to see what incentives they would offer if you were to start a hospital in their area. Maybe federal incentives are available too?
I know there are medical consulting firms that assist in setting up a practice; I think it would be necessary to find someone who knows the details to setting up billing procedures, patient admit procedures, screening employees, etc. May need to pay a hourly consultant for their expertise in this. + if you have a building built, would need to work with a specialty architectural engineering firm that is experienced with designing hospitals specifically. Probably some special contractor experience would be needed, i.e. need to hire contractors who have hospital building/repairing experience.
Not sure what the rules are regarding departments -- if you have to have an OB section/ER/Surg unit, or if you can set up a "hospital" that only does select medical procedures? I'd think a hospital (verus a practice) would have to offer diversified services? I'd suspect this can be done, but your role would be far more managerial/entrepreneurial than medical for quite a while.
- Joined
- Sep 9, 2004
- Messages
- 7,132
- Reaction score
- 1,250
this requires ******ed amounts of equity, you cant borrow all the funds you would need to accomplish this.
In short, the answer is YES, in some places you could open a small subspec hospital but if you were in a position to do so you have already made millions, worth tens of millions and would have FAR better routes to grow your asset base than spending money on a hospital.
In short, the answer is YES, in some places you could open a small subspec hospital but if you were in a position to do so you have already made millions, worth tens of millions and would have FAR better routes to grow your asset base than spending money on a hospital.
- Joined
- Jul 5, 2003
- Messages
- 2,070
- Reaction score
- 26
This isn't nearly as difficult as it may seem. It depends on what approach you take to build: Bring in the physicians first or recruit them after it is built. The former is the model of physician owned facilities, the latter is the model of the major hospital entities.
I have seen and been a part of several projects that have been primarily physician owned and operated and most of them continue to be very successful by essentially cutting out tremendous amounts of administrative waste. One facility in particular has a physician who could run the entire facility by herself due to the excellent organization of the administrative offices. She still finds time to be a nearly full time anesthesiologist.
In short, it can be done, yes even in the presence of likely adverse legislation prohibiting or limiting physician ownership of hospitals.
I have seen and been a part of several projects that have been primarily physician owned and operated and most of them continue to be very successful by essentially cutting out tremendous amounts of administrative waste. One facility in particular has a physician who could run the entire facility by herself due to the excellent organization of the administrative offices. She still finds time to be a nearly full time anesthesiologist.
In short, it can be done, yes even in the presence of likely adverse legislation prohibiting or limiting physician ownership of hospitals.
