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

The land will be offered by using a fixed-price tender. Under this method, prospective buyers will certainly be examined on qualitative criteria entailing their care model, cost effectiveness, technique to recruiting and developing manpower, and their dedication and plans towards affordable medical care, stated Health Minister Ong Ye Kung.

The planned not-for-profit exclusive healthcare facility will certainly improve the authorities’ efforts to rein in personal medical care expenses and climbing insurance fees.

The suggested medical facility would definitely have the ability to house 300 to 400 beds, and deliver more lower-cost special health care options, media reports mentioned Ong as saying.

To make certain lower expenses, the government aims to state requirements in the tender documentations, containing the fixed-price model. It will also impose constraints on bill sizes, covering them at a particular percentile of the market.

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

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“There are still a few important concerns we have to attend to, and I wish we have the ability to address them and come to a decision in the second part of the year, to release the tender,” he included.

The Singapore government is wanting to release a spot in the eastern portion of the island for a new not-for-profit exclusive acute health center, in what would be the very first land release for private medical facilities in close to two decades.

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