Covenant Health Systems
Capital Needs Assessment
- Lexington, Massachusetts
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A health and elder care portfolio with 15 skilled nursing facilities, four acute and chronic care hospitals, plus ancillary facilities, totaling more than 2,900 beds.
On-Site Insight was engaged to assess the physical condition of individual facilities and provide a 20-year projection of capital spending for portfolio-wide strategic improvements. After review and consultation with executives and facility managers, we provided a detailed evaluation of each facility and a portfolio capital improvement plan. As part of the contract, we created a database of all capital items at all locations, established annual cost requirements for each facility, recommended combining capital requirements across multiple facilities, and allowed tracking of capital needs against resources available from bond proceeds. Covenant Health Systems now bases its annual planning and budgeting on these results.