The healthcare industry is one of the most important sectors across the country.
As highlighted by the American Hospital Association, the total number of registered hospitals across the country currently stands at 5,627. There are a further 4,926 community hospitals, which are defined as institutions that are either non federal, short-term general or specialize in a certain area.
It is that last distinction that is leading to a booming construction phase for hospitals in Minneapolis, Minnesota.
Growth of Specialized Hospitals
According to the Minnesota Star Tribune, hospital construction is gradually shifting from building large, sprawling campuses to smaller facilities that specialize in outpatient care. These buildings often house doctors that specialize in a certain type of medicine or other areas, such as ear, nose and throat.
But this trend has also been facilitated because of the Patient Protection and Affordable Care Act, which was signed into law in 2010. The law represents the biggest change to the U.S. healthcare system since the passing of Medicare and Medicaid in 1965.
One of the primary goals of the ACA is to help lower medical costs for patients. To do this, hospitals and doctors would gradually change their practices and other aspects to lead to better healthcare results.
Because of that shift, healthcare has shifted from large hospitals providing care to smaller outpatient buildings. According to a study from Revista, which gathers information on healthcare real estate, the construction pipeline in the U.S. medical industry totaled $97.1 billion at the end of 2015. This equates to approximately 43.7 million square feet (MSF) in new buildings. Of that, outpatient facilities, otherwise known as medical office buildings, are expected to account for 23.9 MSF, an increase from 12.9 MSF in 2015.
Overall, medical real estate couldn’t be in a stronger position.
Minneapolis and other Midwest states just so happen to be home to these changing demands.
Prime conditions in the Midwest
Minnesota is a hot real estate market for the medical industry because of a few factors. First, the Star Tribune noted that the state has favorable income and employment numbers. These are important because they provide market stability.
Currently, the state is 10th in the U.S. with regards to the unemployment rate, as it stands at 3.7 percent as of March 2016. The median household income throughout the state, per the Kaiser Foundation is $67,244.
With so much construction and renovation plans in the works, mobile storage containers represent an ideal way to store medical equipment and tools throughout the process.
How storage helps
When constructing an entirely new building, construction crews need a safe and secure place to store their tools. Storage units are the best bet, as they can protect expensive equipment from the weather and potential theft.
If hospitals or outpatient facilities are being renovated, medical tools can also be stored in these portable units.
As hospital and medical building construction continues to grow because of shifting healthcare demands, storage solutions for construction are needed more than ever.