The South Florida Business Journal reports that South Florida health systems are about to face major competition. The rollback of the Certificate of Need (CON) law creates growth opportunities for health systems that could lead to big capital spending on construction and medical equipment, while boosting access to health care in neighborhoods without enough providers.
Some local hospitals are considering expansions with new facilities, while others will look to expand their bed count.
James Farrell, a partner in the West Palm Beach office of Shutts & Bowen and Chair of the firm’s Health Care Practice Group, believes that one change coming to the market is a growing niche for specialty hospitals, especially in areas with a growing elderly population like Palm Beach County.
"Specialty hospitals could make things more difficult for acute care hospitals because they will chip away at their more profitable business," Jim said.
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About James A. Farrell
James A. Farrell is a partner in the West Palm Beach office of Shutts & Bowen LLP, where he is the Chair of the Health Care Practice Group. Jim is Florida Bar Board Certified in Health Law. A former hospital executive and general counsel, Jim specializes in healthcare mergers and acquisitions, managed care and joint venture development. He understands the demands of running a complex business in a regulatory environment. He now lends his expertise in law and health care management to companies making transitions in the industry.