New service provides 'cool' tour of U.S. hospitals--data included.

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ASIDES & INSIDES

Morgan Stanley, the New York investment bank and equity-research firm that has compiled hospital reports for years, is taking an entirely different look at the industry--a stunning new perspective that uses software developed by a unit of Google to let users view more than 10,000 hospitals and ambulatory Surgery centers across the nation.

Through a combination of Google Earth and data compiled by Morgan Stanley, viewers can identify hospital systems or specific facilities, zooming down in many cases for clear images of the buildings. "You have to see it to believe it," declared an e-mail announcement last week from Gary Lieberman, a healthcare facilities analyst at the investment firm who dreamed up what is being billed as the "Morgan Stanley Virtual View."

"It's a little different than what we usually do--like, say, reports on drug-eluting stents," Lieberman jokes.

The budding geographers at Morgan Stanley, who worked for several months on the unique software and proprietary database, have supplemented the satellite imagery available on Google Earth with specific information about individual hospitals, systems and chains, including ownership, addresses and bed counts. Viewers can select lists that include everything from the biggest investor-owned chains to the smallest not-for-profit Catholic hospital. It provides an entirely different outlook: A three-dimensional overview of where hospitals are located, as well as virtual tours of any market, state or region. Though the images can sometimes be fuzzy depending on the zoom and location, many building views are remarkably clear and can be "tilted" so that it seems like you're standing in front of the facility.

"For the first time, you can look at any … (system), and you can see firsthand where they are located, what regions they focus on, who their competition is," Lieberman says. "It's a way of helping investors understand the healthcare landscape."

Though it's intended to appeal to investors, the real reason for spending time on this addictive Web site is the sheer enjoyment of roaming the country. "The general impression so far is, 'Wow--that is so cool,'" says Lieberman, who officially launched his pet project last week. "Like most people, the first thing I did was find my house. Then I went to the Eiffel Tower. I've had a lot of people tell me, 'I've lost a couple hours already (playing with it).' It's fun, but you're learning a fair amount, too."

To access the features, visit the Morgan Stanley Web site at www.morganstanley.com/institutional/research/hcgoogleearth.html (user name: Morgan; password: Stanley.) Happy travels.

PHOTO (COLOR): Morgan Stanley's "virtual view" of U.S. hospitals.