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

The Singapore government is seeking to launch a site in the eastern section of the island for a brand-new not-for-profit private acute health center, in what would certainly be the initial land launch for private healthcare facilities in close to 20 years.

The proposed medical facility would have the ability to place 300 to 400 beds, and provide even more lower-cost exclusive health care alternatives, media reports quoted Ong as stating.

To make certain cheaper prices, the government intends to stipulate criteria in the tender papers, containing the fixed-price model. It will also enforce constraints on bill sizes, topping them at a particular percentile of the market.

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“There are still a couple of important issues we need to attend to, and I hope we have the ability to address them and reach a decision in the 2nd half of the year, to introduce the tender,” he included.

Singapore’s last exclusive healthcare facility land tender was held in 2008. On the area, the 333-bed Mount Elizabeth Novena Hospital 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.

The land will be presented by using a fixed-price tender. Under this approach, bidders will be reviewed on qualitative requirements including their care model, cost efficiency, strategy to seeking and creating manpower, and their commitment and plans towards affordable medical care, said Health Minister Ong Ye Kung.

The planned not-for-profit exclusive hospital will certainly improve the authorities’ efforts to rein in exclusive health care prices and increasing insurance fees.

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