Wednesday, March 09, 2016
Carolinas HealthCare System plans to invest an additional $150 million into cancer care in the Charlotte region.
The Charlotte health-care system’s board approved a project on Tuesday that will more than double the size of the Levine Cancer Institute.
The cancer institute is on the campus of Carolinas Medical Center.
That project, which is expected to start early next year, includes three components.
"We're seeing a level of demand for cancer services and rehabilitative services that exceeds what we could have anticipated," says CEO Michael Tarwater.
The largest piece calls for a $125 million outpatient care center. The 260,000-square-foot, seven-story cancer complex will be adjacent and connected to the cancer institute’s current operations.
This will be the second outpatient center for the Levine Cancer Institute.
"We'll be in a much better position to accommodate a larger number of patients," Tarwater says.
The first, a $50 million, six-story cancer institute, opened in 2012.
The cancer institute provides an enterprise-wide network for cancer care across Carolinas HealthCare System’s footprint. It provides patients with greater access to specialists, treatment, clinical trials and support services closer to where they live.
The health-care system says that “results to date are impressive.”
It has provided patients with a broader and deeper array of treatment options, while seeing an increase in treatment of new cases as well as growth in net operating revenue.
Carolinas HealthCare says the cancer institute has outgrown its existing ambulatory space due to rapid program expansion. This will create capacity for new and expanded programs, while increasing capacity for infusion and radiation therapies.
"This is a broad-based expansion that reflects the volume and growth of the work we're doing," says Derek Raghavan, president of Levine Cancer Institute.
The goal is to position the cancer institute as a national and international referral center, while leading in “innovation and focusing on value in oncology care.”
The project also includes $20 million in inpatient renovations to develop a 32-bed hematologic unit at Carolinas Medical Center.
An existing 32,000-square foot space within CMC will be renovated.
An additional $5 million will be spend to enhance the cancer institute’s current operations. That includes renovating approximately 21,000 square feet.
That will allow for enhancements to brachytherapy and a new biopsy system for urology cancer. It also aims to increase capacity in dermatology and solid tumor clinics.
"We have come a long way in a short period of time," Raghavan says. "Our programs have grown with considerable speed."
The Levine Cancer Institute team has grown from 85 to more than 1,000 employees. The center sees 15,000 patients annually.
The health-care system expects the return on investment or this project to be 10.1% based on its proposed $150 million capital investment.
Source : bizjournals.com
