The €100 million facility, details of which were announced yesterday, will include 88 single rooms and a 12-bed intensive care unit.
The architects, from the US, have drawn on concepts devised by the Harvard Medical School in the design of the building, which will provide almost every major specialty except maternity.
The Adare Hospital & Clinic has entered talks with health insurers VHI, Bupa and Vivas on treatment for their patients, and the facility will also cater for public patients under the national treatment purchase scheme.
The mid-west region has the highest uptake about 50% of private health insurance in the country and a catchment area population of 340,000.
Tom Kane, owner of Adare Manor and head of the partnership behind the project, said the group is encouraged by talks they have had with health insurance companies and they are confident the hospital would have a contract in place when it opens in
"It will attract the best in health care services in Ireland and the world. The exciting part of this project is what we will do to the face of healthcare in Ireland," Mr Kane said.
The new hospital will also fund a medial research foundation, which project steering committee chairman Dr Ed Walsh former president of the University of Limerick said would enable it to form international linkages.
Stressing the need for more private healthcare, orthopaedic surgeon Professor Eric Masterson said 40% to 50% of beds in public hospitals in the region were occupied by private patients.
The new hospital, he said, would open up more public beds and help reduce the number of private patients in public hospitals to the Government target of about 20%. The clinician programme on offer will include cardiology, oncology, neurology, urology and a wide range of other procedures.
Some, such as neurology are not currently available in the mid-west.
Meanwhile, Limerick Labour Party TD Jan O'Sullivan has criticised Health Minister Mary Harney and local Minister of State Tim O'Malley for not providing the money for public patients treated in the new radiotherapy unit at Limerick Regional Hospital.
"Both ministers promised the funds but neither of them has delivered. Why should the money raised by the people of the mid-west be used for treatment that is the responsibility of the state?" she asked.
"When the money is eventually forthcoming, it should be backdated to the day the centre opened," she said.