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
| Jul 28, 2014
Reconstruction market benefits from improving economy, new technology [2014 Giants 300 Report]
Following years of fairly lackluster demand for commercial property remodeling, reconstruction revenue is improving, according to the 2014 Giants 300 report.
| Jul 28, 2014
Reconstruction Sector Construction Firms [2014 Giants 300 Report]
Structure Tone, Turner, and Gilbane top Building Design+Construction's 2014 ranking of the largest reconstruction contractor and construction management firms in the U.S.
| Jul 28, 2014
Reconstruction Sector Engineering Firms [2014 Giants 300 Report]
Jacobs, URS, and Wiss, Janney, Elstner top Building Design+Construction's 2014 ranking of the largest reconstruction engineering and engineering/architecture firms in the U.S.
| Jul 28, 2014
Reconstruction Sector Architecture Firms [2014 Giants 300 Report]
Stantec, HDR, and HOK top Building Design+Construction's 2014 ranking of the largest reconstruction architecture and architecture/engineering firms in the U.S.
| Jul 28, 2014
LEO A DALY hires Peter Yakowicz to oversee VA projects
New hire will work with healthcare and federal market sectors on programs specifically for the Department of Veterans Affairs.
| Jul 23, 2014
Holistic care model, regulatory changes make outpatient facilities a high priority [2014 Giants 300 Report]
With the Affordable Care Act still in its infancy, Building Teams are seeing reverberations in the investment decisions of healthcare providers, including new ideas about the types of buildings they are asked to create.
| Jul 23, 2014
Top Healthcare Sector Construction Firms [2014 Giants 300 Report]
Turner, McCarthy, and Skanska USA top Building Design+Construction's 2014 ranking of the largest healthcare contractors and construction management firms in the U.S.
| Jul 23, 2014
Top Healthcare Sector Engineering Firms [2014 Giants 300 Report]
AECOM, Jacobs, and URS Corp. top Building Design+Construction's 2014 ranking of the largest healthcare engineering and engineering/architecture firms in the U.S.
| Jul 23, 2014
Top Healthcare Sector Architecture Firms [2014 Giants 300 Report]
HDR, Stantec, and HKS top Building Design+Construction's 2014 ranking of the largest healthcare architecture and architecture/engineering firms in the U.S.