Singapore plans to launch fixed-price land tender for a proposed not-for-profit private hospital
The land is going to be offered via a fixed-price tender. Under this method, prospective buyers will be examined on qualitative standards entailing their care model, expense effectiveness, approach to recruiting and establishing workforce, and their commitment and plans towards affordable health care, said Health Minister Ong Ye Kung.
The planned not-for-profit exclusive medical facility will certainly improve the authorities’ initiatives to rein in personal health care expenses and increasing insurance premiums.
Singapore’s last private healthcare facility land tender was held in 2008. On the site, the 333-bed Mount Elizabeth Novena Health center established in 2012 at a price of $2 billion, of which about $1.25 billion had gone into the land acquisition, The Straits Times reported.
“There are still a couple of important issues we have to address, and I hope we have the ability to deal with them and reach a decision in the second part of the year, to introduce the tender,” he included.
To guarantee lower prices, the government intends to specify guidelines in the tender files, containing the fixed-price model. It will also enforce constraints on bill sizes, covering them at a certain percentile of the marketplace.
The proposed health center would be able to place 300 to 400 beds, and deliver more lower-cost private health care options, media reports mentioned Ong as stating.
He announced the plans on April 9 at an anniversary activity for Mount Alvernia Medical facility– currently the only not-for-profit private acute medical center in Singapore.
The Singapore state is looking to launch a site in the eastern section of the island for a brand-new not-for-profit exclusive acute healthcare facility, in what would certainly be the very first land release for private hospitals in almost twenty years.
