Market Focus: Plans abound in NYC despite woes

PREDICTED HOSPITAL CLOSINGS COULD STRENGTHEN SURVIVING PROVIDERS

By John Mugford

There promises to be plenty of activity at hospitals in the greater New York City Area in the next year or so. Some of the activity, however, could be the closing of hospital doors.

The financial situation at many metropolitan area hospitals – as well as at hospitals throughout the state – is so bleak that even the Greater New York Hospital Association is calling for the closing some facilities and a reduction in the number of beds.

Hospitals are facing dire financial situations, experts say, because of an oversupply of beds and a redundancy of services.

Gov. George Pataki and his staff say even though the state has lost 20,000 licensed beds in the past 15 years, the hospital industry could stand to lose another 10,000 to 15,000 beds and still be able to keep up with demand – even the surge in demand that would be caused by events like a natural disaster or a terrorist attack.

Such a reduction in beds, experts say, could strengthen the financial books of hospitals that remain open for business.

Even though many hospitals and health systems are financially strapped, healthcare remains a vital part of the New York City economy.

The city, in fact, is home to 25 major academic research and medical centers and 125 hospitals, research centers and laboratories. And, as the partial list below suggests, there seems to be no shortage of large-scale construction projects taking place and in the planning stages.

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