Singapore plans to launch fixed-price land tender for a proposed not-for-profit private hospital

The land will be presented via a fixed-price tender. Under this approach, prospective buyers will certainly be reviewed on qualitative requirements entailing their care model, cost efficiency, strategy to seeking and developing workforce, and their dedication and plans towards affordable healthcare, claimed Health Minister Ong Ye Kung.

To guarantee cheaper prices, the state aims to state criteria in the tender papers, adding the fixed-price model. It will also enforce constraints on bill sizes, capping them at a particular percentile of the marketplace.

The recommended medical facility would definitely have the ability to house 300 to 400 beds, and offer even more lower-cost private medical care choices, media reports mentioned Ong as saying.

The intended not-for-profit private medical facility will certainly improve the authorities’ efforts to rein in private medical care expenses and climbing insurance premiums.

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He disclosed the plans on April 9 at an anniversary occasion for Mount Alvernia Medical facility– presently the only not-for-profit private acute hospital in Singapore.

The Singapore state is aiming to release a site in the eastern section of the island for a brand-new not-for-profit private acute hospital, in what would be the first land launch for private health centers in nearly two decades.

Singapore’s last exclusive medical facility land tender was operated in 2008. On the site, the 333-bed Mount Elizabeth Novena Health center started in 2012 at an expense of $2 billion, of which about $1.25 billion had gone into the land procurement, The Straits Times reported.

“There are still a couple of essential issues we need to deal with, and I wish we have the ability to resolve them and get to a resolution in the second part of the year, to introduce the tender,” he added.