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

The Singapore authorities is seeking to launch a spot in the eastern portion of the island for a brand-new not-for-profit exclusive acute healthcare facility, in what would be the first land launch for exclusive healthcare facilities in close to twenty years.

The recommended healthcare facility would definitely be able to place 300 to 400 beds, and offer even more lower-cost private medical care alternatives, media reports mentioned Ong as saying.

He publicized the plans on April 9 at an anniversary occasion for Mount Alvernia Hospital– currently the only not-for-profit exclusive acute medical center in Singapore.

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The land is going to be offered by using a fixed-price tender. Under this method, prospective buyers are going to be examined on qualitative standards entailing their care model, expense performance, method to recruiting and developing manpower, and their dedication and policies towards affordable medical care, said Health Minister Ong Ye Kung.

To ensure lesser costs, the state aims to specify guidelines in the tender papers, adding the fixed-price model. It will also impose constraints on bill sizes, capping them at a particular percentile of the market.

The prepared not-for-profit exclusive healthcare facility will certainly improve the authorities’ efforts to rein in exclusive health care expenses and increasing insurance premiums.

“There are still a few important problems we need to resolve, and I hope we have the ability to resolve them and arrive at a judgment in the 2nd part of the year, to release the tender,” he included.

Singapore’s last private healthcare facility land tender was held in 2008. On the area, the 333-bed Mount Elizabeth Novena Health center opened up in 2012 at a price of $2 billion, of which about $1.25 billion had gone into the land acquisition, The Straits Times reported.