While many hospitals and health systems find growth through mergers or acquisitions, New York City-based Hospital for Special Surgery President and CEO Louis A. Shapiro told The Wall Street Journal that in the case of HSS, there's more value in adding additional campuses and facilities than there is in M&A.
Founded in 1863, HSS is the oldest orthopedic hospital in the nation and performs more than 30,000 surgical procedures per year. Mr. Shapiro told the WSJ only 6 percent of patients who visit the system's flagship campus in New York City come from the immediate neighborhood — 94 percent of patients travel to the facility from across the U.S. and internationally.
In 2019, Mr. Shapiro said the system will open two campuses in New York City, one in West Palm Beach, Fla., and one in Aspen, Colo. Expansion, he said, presents a way for HSS to deliver care closer to where patients live and work.
"Our strategy for our growth stems from our ability to develop the HSS model and extend our reach and impact," Mr. Shapiro told the WSJ, adding that there's more demand to create additional campuses because "people are more active."
For example, Mr. Shapiro said HSS' new facility in South Florida will attract patients from South America and across the southern U.S. who may not be able to travel to the institution's care sites in New York City. He noted that other prominent orthopedic facilities, including NYU Langone Medical Center and Mount Sinai Health System — both in New York City — have also already opened locations in South Florida.
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