Process To Get Hospital Construction Cost Estimate Report
Here I am going to share some steps to get your hospital construction cost estimate report.
How much does it cost to build hospital?
The national average cost to build a hospital ranges from $64,000,000 to $192,500,000. The average project costs $114,500,000 for a new 300,000 sq.ft. hospital that includes administrative areas, emergency and operating rooms, and enough space for 120 beds. At the low end, projects could be as low as $54,200,000 for a 150,000 sq.ft. micro hospital with 60 beds, an emergency department, outpatient surgical facilities, and limited administrative areas. Some private, large hospitals could cost as much as $220,000,000 for a 520,000 sq.ft. hospital with 150 beds, administrative areas, specialty units, and extensive operating and emergency rooms.
Hospitals come in many forms, in terms of size, shape, location, the overall goal of the hospital, and who they plan to treat. Because of these factors, there is an incredibly wide range of associated costs with building a hospital. The average hospital needs roughly 2,500 sq.ft. per bed, which makes a 120-bed hospital roughly 300,000 sq.ft.
Hard Costs to Build a Hospital
Hard costs to build a hospital are the brick-and-mortar costs for a construction project. They include building materials, utility and fixed equipment, landscaping, and direct labor.
A large hospital with 500 beds and more than 1.5 million square feet will cost about $930 million to $1.5 billion to construct.
Soft Costs to Build a Hospital
Soft costs to build a hospital include architectural design, accounting, inspection, engineering, legal fees, taxes, permits, financing fees and interest during construction.
Cost To Build A Smart Hospital
Costs to build a hospital modularly runs around $550 to $650 per square foot. While this is higher initially, prefabrication can speed up completion timeframes by as much as 40%. Did you ever hear the express time is money? Well that certainly applies for modular hospital project! Developers can repay their loans more quickly and save interest expense.
Hospital Departments and Parts
Hospitals are segmented into different units that serve different purposes. These units normally consist of the following:
Hospital Construction Cost per Bed
The average cost of hospital construction per bed ranges from $530,000 to $1,540,000, which usually depends on the type of hospital and how much square footage per bed is required. The beds are a large part of every hospital. Beds are in the ER, trauma centers, pre- and post-surgical areas, and short-term and long-term inpatient areas and waking rooms. Not all beds are the same size or type. Hospitals that handle infants and children have cots, cribs, incubators, and beds for children and adults.
Most of them are sized by the number of beds. It is common for hospitals to break down their total number of beds by area. New hospitals need to allocate space specifically for patient beds, such as 590 to 810 sq.ft. per bed. The total number of beds may be determined by how many people the hospital expects to treat each year. For example, a hospital expecting to treat 1,000 patients needs 200 beds in a general hospital, 170 beds in an emergency hospital, and 26 beds in specialty hospitals. In the table below, we’ll show the average cost of building a 50-bed hospital versus the cost of setting up a 100-bed hospital for reference and comparison.
Micro Hospital Cost Estimate
A micro hospital has a cost per sq.ft. of $280 to $400, depending on the features and exact specifications of the facility. Costs to build them range considerably, depending on the type of care they provide and exactly how many beds they offer. Since most are considered larger versions of an emergency department and are much smaller in size comparatively, their costs are lower than the total cost of a full-scale hospital.
Hospital Construction Cost Breakdown
The UT southwestern medical center stands on a 1.3 million square feet area with 532 beds. This hospital took almost $900 million when constructed.
Parkland Memorial Hospital is situated in Dallas and costs $1.5 billion. It stands on a 2.4 million square foot area and has 862 beds for handling severe patients.
Both hospitals are already established and cost that high amount. Now, the cost increases as time passes.
Don’t fear by reading that high figure. Yes, building a hospital is a matter of huge investment. But of course, this is not fixed. So relax, and let’s see a cost chart.
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