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UEHP News OCTOBER 2013


EUPOPEAN ECONOMY
The Second Economic Adjustment Programme for Greece- Fourth Review – April 2014


EUPOPEAN ECONOMY
The Second Economic Adjustment Programme for Greece- Second Review – May 2013


Health Professional Mobility in a Changing Europe
New dynamics, mobile individuals and diverse responses



Interview at "Health Care Business International"

ΣΥΝΕΝΤΕΥΞΗ στο "Health Care Business International" και στον δημοσιογραφο Cameron Murray


What is the situation in Greece at the moment for private healthcare?

In Greece, health expenditure is constantly decreasing due to its dependence on Gross Domestic Product GDP and Closed Budgets in the context of fiscal adjustment and Greek government’s and lenders' agreements.
This has implications for the sustainability of private health care. The only public insurance fund pays after 10 months and only 50% of the costs incurred under the prices set by the Ministry of Health and owes hospitalization costs from 2009. Private providers are trying to survive hoping for better days for the Greek economy.
In the primary care 90% of diagnostic tests are carried out in private diagnostic laboratories while the Government, with a law voted by the Parliament one month ago, will try to build a public primary system with European Union money given to the Greek government for development goals of private initiative but will be used for payroll and operating costs of the new system.
In the secondary care 40 Clinics have been discontinued during the crisis even though they serve the 38% of the hospitalizations.
The deprivation of the Greek people and the opposition of the Communist government to private and private clinics have turned clinical efforts to co-operate with private insurance companies, medical tourism and interest in selling them to foreign funds.


What is behind the spike this year in the listed groups’ (Hygeia, IASO, Athens Medical Centre, Euromedica) share prices?

The increase of the turnover is due to a readjustment of their partnerships with private insurance companies and ranges up to 5%. But their borrowing from banks is very high.


Has there been another ‘haircut’ (cuts to reimbursement rate from government to priv. providers)?

CLAWBACK and Rebate continue to be around 50% overall, and a cut from spending controls started in 2016 to an average of about 25%, with illegal procedures and cuts that do not go hand in hand with medical science. After all, medical check-ups are carried out by dentists, pharmacists, coronerss and veterinarians, and not physicians of the respective specialties.


Is the 50% clawback still until the end of 2018?

Unfortunately it will continue until the end of 2022.


Any moves from the government to work with you? Have you met the ministers?

Today's government, because of its communist ideology, is the only one in the past 30 years that does not meet representatives of private associations.
Our only communication is with the President of the Insurance Fund EOPYY and my presence in the Hellenic Parliament during the discussion of draft laws on health and I present my views.
A few days ago, with a Ministerial Decree published in the Government Gazette, I was personally nominated as a member of the seven-member committee that will draft the new law on the operation of Private Clinics which will then be submitted to the Greek Parliament for voting.


Can you tell me more about the proposed changes to primary health care sector by the government?

The new law establishes the institution of the family doctor which exists in other states. Every family doctor, General practitioner, Pathologist, Paediatrician, will attend approximately 2,000 citizens. He will refer to a specialist doctor and a public hospital. Centralized Diagnostic Laboratories are also being set up in Athens and Thessaloniki where all the examinations will be sent and to the Private Specialist, Private Diagnostic Center and Private Clinic you will be able to use your services with private insurance, private payment or by referral from a public hospital in case of inability to respond to a medical condition or a diagnostic test.


Do you have data for the total market size, and as a % of the sector as a whole (inc. public):


-          private hospital acute market  38%

-          lab services                90%

-          imaging services       90%

-          residential elderly care/nursing homes          100%

-          rehabilitation                 100%

-          private hemodialysis centers  65%



NEWS

  1. the qouted in the Stock Exchange Market METROPOLITAN Hospital was sold to the CNC Partners Fund, which opened discussions for the acquisition of the listed IASO General Clinic.
  2. EUROMDICA is in the process of accepting DEUTCHE BANK loan purchase offers.
  3. It is discussed the sale of the Group Ygeia with 3 clinics, together with Henry Dynan and the Clinic REA currently owned by Piraeus Bank
  4. The sale of EUROCLINIC, MEDITERRANEO Clinic and the Inter-Balkan Center in Thessaloniki is discussed.



By the spring of 2018, the charter of private health will be completely different and the sale of Clinics by lending to banks obliges them to sell their shares in accordance with the memorandum signed with the lenders



Greece 16/10/2017

What is the situation in Greece at the moment for private healthcare?

In Greece, health expenditure is constantly decreasing due to its dependence on Gross Domestic Product GDP and Closed Budgets in the context of fiscal adjustment and Greek government’s and lenders' agreements.
This has implications for the sustainability of private health care. The only public insurance fund pays after 10 months and only 50% of the costs incurred under the prices set by the Ministry of Health and owes hospitalization costs from 2009. Private providers are trying to survive hoping for better days for the Greek economy.
In the primary care 90% of diagnostic tests are carried out in private diagnostic laboratories while the Government, with a law voted by the Parliament one month ago, will try to build a public primary system with European Union money given to the Greek government for development goals of private initiative but will be used for payroll and operating costs of the new system.
In the secondary care 40 Clinics have been discontinued during the crisis even though they serve the 38% of the hospitalizations.
The deprivation of the Greek people and the opposition of the Communist government to private and private clinics have turned clinical efforts to co-operate with private insurance companies, medical tourism and interest in selling them to foreign funds.


What is behind the spike this year in the listed groups’ (Hygeia, IASO, Athens Medical Centre, Euromedica) share prices?

The increase of the turnover is due to a readjustment of their partnerships with private insurance companies and ranges up to 5%. But their borrowing from banks is very high.


Has there been another ‘haircut’ (cuts to reimbursement rate from government to priv. providers)?

CLAWBACK and Rebate continue to be around 50% overall, and a cut from spending controls started in 2016 to an average of about 25%, with illegal procedures and cuts that do not go hand in hand with medical science. After all, medical check-ups are carried out by dentists, pharmacists, coronerss and veterinarians, and not physicians of the respective specialties.


Is the 50% clawback still until the end of 2018?

Unfortunately it will continue until the end of 2022.


Any moves from the government to work with you? Have you met the ministers?

Today's government, because of its communist ideology, is the only one in the past 30 years that does not meet representatives of private associations.
Our only communication is with the President of the Insurance Fund EOPYY and my presence in the Hellenic Parliament during the discussion of draft laws on health and I present my views.
A few days ago, with a Ministerial Decree published in the Government Gazette, I was personally nominated as a member of the seven-member committee that will draft the new law on the operation of Private Clinics which will then be submitted to the Greek Parliament for voting.


Can you tell me more about the proposed changes to primary health care sector by the government?

The new law establishes the institution of the family doctor which exists in other states. Every family doctor, General practitioner, Pathologist, Paediatrician, will attend approximately 2,000 citizens. He will refer to a specialist doctor and a public hospital. Centralized Diagnostic Laboratories are also being set up in Athens and Thessaloniki where all the examinations will be sent and to the Private Specialist, Private Diagnostic Center and Private Clinic you will be able to use your services with private insurance, private payment or by referral from a public hospital in case of inability to respond to a medical condition or a diagnostic test.


Do you have data for the total market size, and as a % of the sector as a whole (inc. public):


-          private hospital acute market  38%

-          lab services                90%

-          imaging services       90%

-          residential elderly care/nursing homes          100%

-          rehabilitation                 100%

-          private hemodialysis centers  65%



NEWS

  1. the qouted in the Stock Exchange Market METROPOLITAN Hospital was sold to the CNC Partners Fund, which opened discussions for the acquisition of the listed IASO General Clinic.
  2. EUROMDICA is in the process of accepting DEUTCHE BANK loan purchase offers.
  3. It is discussed the sale of the Group Ygeia with 3 clinics, together with Henry Dynan and the Clinic REA currently owned by Piraeus Bank
  4. The sale of EUROCLINIC, MEDITERRANEO Clinic and the Inter-Balkan Center in Thessaloniki is discussed.

By the spring of 2018, the charter of private health will be completely different and the sale of Clinics by lending to banks obliges them to sell their shares in accordance with the memorandum signed with the lenders

  Greece 16/10/2017

 

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