Singapore plans to launch fixed-price land tender for a proposed not-for-profit private hospital
The prepared not-for-profit exclusive hospital will certainly build on the authorities’ initiatives to rein in personal healthcare costs and rising insurance costs.
The Singapore government is aiming to release a spot in the eastern portion of the island for a brand-new not-for-profit private acute medical facility, in what would be the first land release for private health centers in close to twenty years.
Singapore’s last private health center land tender was operated in 2008. On the place, the 333-bed Mount Elizabeth Novena Healthcare facility 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 few important problems we have to address, and I hope we are able to address them and reach a resolution in the second part of the year, to launch the tender,” he added.
To make sure cheaper prices, the administration aims to state guidelines in the tender documents, containing the fixed-price model. It will also enforce restrictions on bill sizes, covering them at a particular percentile of the marketplace.
He publicized the plans on April 9 at an anniversary event for Mount Alvernia Medical facility– currently the only not-for-profit private acute medical center in Singapore.
The recommended medical facility would certainly be able to house 300 to 400 beds, and offer even more lower-cost exclusive health care alternatives, media reports mentioned Ong as stating.
The land is going to be offered via a fixed-price tender. Under this technique, bidders are going to be examined on qualitative criteria including their care model, expense effectiveness, method to recruiting and creating workforce, and their commitment and policies towards affordable healthcare, stated Health Minister Ong Ye Kung.
