Almost every day, the story repeats itself. Another bankrupt or closed or closing hospital. Often the infected facility is rural. But sometimes it’s not.
Recently two such stories caught my attention.
The first of the infected hospitals is limping along and about to close. It’s located in a rural community. It’s actively looking for proposals from someone who can take it over.
The second is a closed facility. It’s issued an RFP, looking for proposals from buyers to, they hope, reopen the place as a hospital (probably a bad idea), or to take it over and convert it another sort of healthcare facility – which is a tremendous idea, if, and it’s a big if, the situation is right.
For example, what’s the population in the community? What are the demographics? How many physicians are there? How many procedures are those physicians performing? Can those procedures be performed at a surgery center? And so on.
My point is that while the notion that I call The Impending Death of Hospitals (download my complimentary book by that name here) is impacting hospitals of all sizes (certainly small hospitals very hard), some of their physical shells are built out close enough to the specifications for another type of healthcare facility. That makes a conversion a very manageable project, whether it’s a conversion for a single facility or for a multi-facility “medical mall.”
If this interests you, start paying attention to the news. You’re going to see a lot more of these types of properties becoming available. Then, let’s talk about what’s involved its conversion to a facility owned by you.
It’s not a question of how to do it yourself, it’s knowing who can do it for you and with you.
Hope to hear from you soon.
Comment or contact me if you’d like to discuss this post.
Mark F. Weiss