President Obama and his merry band of Democrats are on a nationwide road show, meeting with voters, and selling the benefits of their $940 billion overhaul of the nation's health care system. ObamaCare promises to expand access to health insurance coverage to 32 million additional people. Undoubtedly, these newly insured patients will increase demand for medical office space, and that has some property owners wondering how they may take advantage of the new legislation.
Many hospitals are currently focused on expanding facilities to increase capacity and meet future demand. For example, Moses Cone Health System in Greensboro, NC is investing over $200 million in an expansion that will add 250,000 square feet to their existing 1 million square feet. Other health care providers, such as the Cleveland Clinic, are making more nominal investments as they focus strategically on expanding outpatient facilities. Nevertheless, these investments are occurring at a time when the nation's construction industry is starving for new contracts.
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