Dr Desmond Wai: "When a businessman runs a medical practice....."

[Hmv]

vid at https://shortto.link/skJ

 

[True Believer]

The reality is that private medical care is a business where operators of clinics and hospitals are responsible to their shareholders in terms of profits and dividends. Control is in the hands of a few major players who operate in the presence of imperfect competition. This accounts for private healthcare costs rising at a rate of more than 20% a year.

 

[True Believer]

While it is impossible for a single private hospital to corner the market, undercut all competitors and raise prices when patients are left with no alternatives, companies like Parkway Pantai, which owns four premier private hospitals in Singapore, have sufficient market share to enjoy an oligopoly.

 

[True Believer]

Skyrocketing rents for clinics are a contributory factor which is driven by demand from doctors leaving the public sector, and the institutionalisation of ownership and management of clinic space through private developers, property funds and Real Estate Investment Trusts.

 

[True Believer]

The proliferation of public listings by medical groups and private hospitals has health-cost implications. Conflict of interest, accountability to shareholders and monopolistic practices associated with medical IPOs would inevitably result in higher charges.

 

[Cs101]

SG has gone to the dogs, everything is about profit, profit and more profit for the elites while the average sinkie withers away

 

[congo9]

Wr need a Tiong medical group to come in and they and they can ndercut all competitions. Where is the Tiong when we needed ?
Look at Pin duo duo , they are the ones making all the money in e commerce.

So where is the pinduoduo of medical field.

 

[earthquake]

PAP lousy policies allow this and pass the bulk of costs to ordinary people.

FUCK PAP

 

[bobby]

If doctors donch want to be rich they will join gahmen

 

[True Believer]

If doctors donch want to be rich they will join gahmen

More than a decade ago, S'pore shifted its focus away from aggressively pursuing medical tourism. This was partly owing to concerns that public resources were being diverted to serve foreigners, leading local patients feeling that preferential treatment was given to these non-S'porean patients. In 2023, Health Minister Ong YK stated that medical tourism offered better financial rewards, leading many top doctors to leave the public sector, causing a disparity in service levels to citizens. However, the truth is that greedy private specialists and hospitals were grossly overcharging foreign patients, thereby pricing S'pore out of the regional market.

 

[True Believer]

PAP lousy policies allow this and pass the bulk of costs to ordinary people. FUCK PAP

Some inpatient summary bills at private hospitals use terms such as "ward fees", "nursing fees" and "miscellaneous fees" for the same service rendered. That is why patients must insist on a detailed bill upon discharge, and scrutinise it carefully; hidden charges that are not obvious to laymen are routinely embedded. The mark-up on inpatient medication, lab and imaging tests as well as consumables (everyday items such as tissue paper and diapers) can be as much as 200%. When queried about items in the bill, cashiers routinely give reasons that the layman is in no position to verify.

 

[birdie69]

If doctors donch want to be rich they will join gahmen

No, they join politics to become part time MP to earn extra income to be richer!

 

[ftan42]

same as when a businessman runs a country as a president