Singapore plans to launch fixed-price land tender for a proposed not-for-profit private hospital
The planned not-for-profit private healthcare facility will certainly build on the authorities’ initiatives to rein in personal medical care costs and increasing insurance premiums.
He publicized the plans on April 9 at an anniversary event for Mount Alvernia Medical facility– currently the only not-for-profit exclusive acute hospital in Singapore.
The land will be presented via a fixed-price tender. Under this approach, prospective buyers will be reviewed on qualitative standards including their care model, expense effectiveness, method to recruiting and developing workforce, and their commitment and policies towards affordable health care, said Health Minister Ong Ye Kung.
Singapore’s last private healthcare facility land tender was operated in 2008. On the site, the 333-bed Mount Elizabeth Novena Healthcare facility opened up in 2012 at a price of $2 billion, of which about $1.25 billion had actually gone into the land procurement, The Straits Times reported.
“There are still a few important issues we have to attend to, and I hope we are able to deal with them and reach a judgment in the 2nd half of the year, to launch the tender,” he added.
The recommended medical facility would certainly be able to house 300 to 400 beds, and give more lower-cost exclusive medical care choices, media reports mentioned Ong as mentioning.
The Singapore government is looking to launch a spot in the eastern part of the island for a new not-for-profit private acute health center, in what would certainly be the very first land release for exclusive hospitals in almost two decades.
To guarantee lower costs, the authorities intends to stipulate requirements in the tender documentations, adding the fixed-price model. It will also enforce constraints on bill scales, capping them at a certain percentile of the market.
