Hospital to Increase Charges and Add More Wards to Fight off Deficit

Hospital to Increase Charges and Add More Wards to Fight if DeficitOpened in October of 2012 the University of Hong Kong Hospital is facing a huge deficit and is planning to raise hospital charges and add more private wards in hopes to increase their revenue. It is one of the largest public hospital in Shenzhen in terms of area and is designated to be the pilot facility for reforms in the public medical care.

Even with the government 3.5 billion yuan investment in constructing the hospital along with financial aid for the first five years of operation still the hospital operated with a huge deficit since its establishment. The hospital recently acquired a loan from the University of Hong Kong of around HK$200 million to hire Hong Kong medical experts and a management team, but hospital hasn’t paid it back. A report has conducted by PwC showed that the hospital is expected to lose HK$ 4.8 billion from 2013 up to 2023 if the deficit maintains the status quo.

The report also stated that the hospital will also be losing HK$3.7 billion from 2013 to 2015 meaning that it will be losing more than HK$ 1 billion since its inception. The report also suggested that the hospital to take certain measures to balance their budget by 2018 from raising charges of public medical services by 15 percent and hiring 30 more Hong Kong doctors while increasing the number of their private beds from 240 to 500.

Furthermore the hospital still needs to construct and become fully operational, and when it does it will have an area of 192,000 square meters that will offer 2,000 beds and accept 8,000 to 10,000 patients in a day in their outpatient department. The hospital outpatient department now sees 2,500 patients in a day and is expected to hit 3,000 before the year ends.

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