New hospital to fund medical education

April 2, 2012

THAILAND – Siriraj Hospital together with private sector for modern medical ICT, will open its private facility, Siriraj Piyamaharajkarun Hospital (SiPH) on April 26. The new hospital aims to generate its own income without financial help from the government. The income generated will be given to the faculty of medicine of Siriraj Hospital for medical education, said Associate Professor Dr. Pradit Panchavinnin, SiPH’s director.

Siriraj hospital is the country’s oldest public and teaching hospitals subsidised by the government. It receives about US$49 million per year, as it has to bear the cost derived from general patent treatments, which results in an operating loss amount to 10% of income.

Building and equipping the new hospital is estimated to reach a total of US$294.2 million. SiPH is expected to break even in three years and start earning for the next five to six years to cover its overall investment costs. Profits are expected to be reaped within the eighth or ninth year.

“The new hospital will serve as an alternative quality healthcare service for patients with the ability to pay, by using our strong points of high-quality treatment, experienced doctors and medical excellence to attract new patients,” Panchavinnin said.

He added that service fees would be higher than those offered at Siriraj Hospital, but as much as 20% to 25% lower than at other private hospitals. Treatment services will cover both general and complicated diseases.

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Category: Education

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