In the ever-evolving landscape of healthcare, the construction of state-of-the-art facilities is a visible testament to the sector's commitment to advancing patient care. However, this progress does not come without its challenges. The industry is grappling with a complex web of factors that escalate construction costs, test its resilience, and underscore the importance of reliable, up-to-date construction cost data.
According to Gordian’s RSMeans Data Online Building Models, the national average cost per square foot for commercial new construction of hospitals is nearly 20% higher today than in 2020. In addition to rising construction costs, other key challenges include integrating new technologies, sourcing skilled labor, managing material availability, and implementing infection control protocols. These factors can significantly impact project budgets and timelines.
More building construction cost reports from Gordian:
- Retail center construction costs for 2024
- K-12 school construction costs for 2024
- Healthcare construction costs for 2023
- Higher education construction costs for 2023
- Hospitality building construction costs for 2023
Current, localized construction cost data is crucial for creating accurate budgets, planning future expansions, ensuring timely project completion, and maintaining a competitive edge.
Gordian’s data features over 100 building models, including hospital buildings. These localized models allow architects, engineers, and other preconstruction professionals to quickly and accurately create conceptual estimates for future builds. This table shows a five-year view of costs per square foot for three-story hospital buildings.
Visit rsmeans.com/bdandc for more information about Gordian’s RSMeans Data.
Please note: Square foot models are used for planning and budgeting and are not meant for detailed estimates.
Related Stories
Healthcare Facilities | Jan 29, 2018
The new Virginia Tech Biomedical Research Addition will include research facilities in five thematic areas
The project is a collaboration between Carilion Clinic and Virginia Tech.
Healthcare Facilities | Jan 10, 2018
Healthcare market year in review for 2017
While we have not fully turned the corner on healthcare reform and in particular healthcare payment reform, 2017 confirmed trends of consumerism and the need for more proximate low-cost options.
Retail Centers | Jan 9, 2018
The addition of a medical practice is part of the cure for reviving a shopping mall in Scranton, Pa.
Delta Medix is one of several tenants that are changing the image of the Marketplace at Steamtown.
Healthcare Facilities | Jan 6, 2018
A new precision dental center embodies Columbia University’s latest direction for oral medicine education
The facility, which nests at “the core” of the university’s Medical Center, relies heavily on technology and big data.
Healthcare Facilities | Dec 19, 2017
‘Healing Oasis’ will provide healthcare services to veterans in northern California
Hoefer Wysocki designed the $40 million facility.
Healthcare Facilities | Dec 11, 2017
2018 predictions for healthcare facility design
From emergency departments to microhospitals, to the amenities in and locations of hospitals, the year ahead will see continued changes in how healthcare providers are designing and equipping their facilities.
Market Data | Dec 5, 2017
Top health systems engaged in $21 billion of U.S. construction projects
Largest active projects are by Sutter Health, New York Presbyterian, and Scripps Health.
Healthcare Facilities | Nov 30, 2017
Scope it out
How to design and build what’s needed to meet organizational goals and strategies.
University Buildings | Nov 28, 2017
FXFOWLE and CO Architects collaborate on Columbia University School of Nursing building
The building has a ‘collaboration ribbon’ that runs throughout the building.
Sponsored | Windows and Doors | Nov 21, 2017
Daylighting promotes healing and wellness at the Florida Hospital for Women at Orlando Campus
Growing research demonstrates that patients recover faster and better from illness or surgery in settings that offer abundant daylight and views to the outdoors.
