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

The recommended medical facility would be able to house 300 to 400 beds, and give more lower-cost private healthcare options, media reports mentioned Ong as saying.

To guarantee lesser expenses, the authorities aims to specify guidelines in the tender documentations, including the fixed-price model. It will also enforce limitations on bill scales, capping them at a certain percentile of the marketplace.

The land will be given via a fixed-price tender. Under this strategy, prospective buyers are going to be evaluated on qualitative criteria including their care model, expense performance, method to seeking and establishing workforce, and their dedication and policies towards affordable medical care, said Health Minister Ong Ye Kung.

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

“There are still a couple of important concerns we need to address, and I wish we are able to resolve them and come to a decision in the second part of the year, to release the tender,” he added.

The Singapore authorities is wanting to launch a spot in the eastern part of the island for a brand-new not-for-profit private acute healthcare facility, in what would be the initial land release for exclusive hospitals in almost twenty years.

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

The planned not-for-profit private medical facility will improve the authorities’ efforts to rein in private health care prices and climbing insurance premiums.