Project Management

How does geography impact your outpatient renovation cost?

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© 2017 Jones Lang LaSalle IP, Inc. All rights reserved. For more information, contact: Snapshot How does geography impact your outpatient renovation cost? Source: JLL Research Lisa Strope, Research Director | lisa.strope@am.jll.com • According to JLL's Outpatient Renovation Cost Guide, Northern California has three of the top five highest cost markets. The Bay Area will remain near the top as demand from the office and residential sectors continues to pressure an already tight construction labor market. • The national trend toward outpatient care is continuing to grow. In 1975, there were nearly 1.5 million hospital beds. By 2014, the bed count shrank to 900,000. This is a decline of nearly 40 percent, while the U.S. population grew by 50 percent. Outpatient visits during this period more than doubled. • JLL's Outpatient Renovation Cost Guide was created to help healthcare organizations understand the full cost of renovating an outpatient facility across the United States, leveraging the data behind JLL managed healthcare projects and budgets. The renovation costs for each market depict the average expenses of renovating a comparable outpatient facility across the country, and take into account the unique cost elements of each city. October 2017 Healthcare Outpatient renovation average out-of-pocket cost p.s.f South -16.4% 5 highest cost markets #1 New York $317 #5 Chicago $286 #2 San Francisco $306 #3 Oakland $295 #4 San Jose $294

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