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The Competition between private health care providers, particularly in Colombo has increased with customers demanding for quality services going up, says a Equity Research Report published by a brokering firm.
Bartleet Religare Securities publishing an equity research report on Nawaloka Hospitals says, the health care industry is such that hospitals are under constant pressure to have the latest technology and equipment to offer, in order to outrun competition.
It says this situation leads to more borrowings as the need for capital expenditure increases.
Bartleet Religare observes, with increased spending patterns and exposure, the modern consumer is becoming more demanding and thus making the private sector hospitals to offer more customer friendly healthcare and higher quality services in order to compete.
The report reveals, the lack of skilled personnel within the industry makes poaching of staff a probable risk, and adds that the private health service providers need to pay attractive pay packages and increments to prevent the loss of experienced staff.
The equity report says, the increase in the services offered by private hospitals, especially in Colombo, has led to increased choices for patients.
“Excess demand was common across the industry during the last two to three years. High purchasing power, change in consumer preference and higher penetration of medical insurance were catalysts in creating high demand for private hospitals. We understand that this resulted in private hospitals seeing close to 100% occupancy”, added the BRS equity research report.
However it says, as the industry attracted new investments, bulk of which came from the existing players who wanted to strengthen their positions, increased competition.
It cites examples such as the investments made by Asiri Hospitals in the Central Hospital in Norris Canal Road, Colombo and the Durdans Hospital sixth lane wing, as some of those investments.
This growth BRS says, has brought down the occupancy rates in Colombo hospitals to 60% – 70% levels.
The report highlights, the lack of adequate medical professionals such as doctors and nurses is putting pressure on the private medical institutions.
According to BRS, the private sector finds it difficult to attract nursing staff from the state sector thus leading many of those to start their own dedicated nursing schools to train the nursing staff.
The study has found that the disease patterns in Sri Lanka are changing due to changing lifestyles thus showing an increase in non-communicable deceases such as diabetes and cancer.
It is also notes that the present population is increasingly exposed to unhealthy factors such as smoking, high fat, high calorie diets and thus the risk of cancer, cardiovascular and repository diseases are higher.
This situation, BRS says will create demand for health services and private health care will continue to increase within the country.
http://www.news360.lk/other/health/competition-between-private-hospitals-in-colombo-is-increasing-%E2%80%93-equity-research-report
Bartleet Religare Securities publishing an equity research report on Nawaloka Hospitals says, the health care industry is such that hospitals are under constant pressure to have the latest technology and equipment to offer, in order to outrun competition.
It says this situation leads to more borrowings as the need for capital expenditure increases.
Bartleet Religare observes, with increased spending patterns and exposure, the modern consumer is becoming more demanding and thus making the private sector hospitals to offer more customer friendly healthcare and higher quality services in order to compete.
The report reveals, the lack of skilled personnel within the industry makes poaching of staff a probable risk, and adds that the private health service providers need to pay attractive pay packages and increments to prevent the loss of experienced staff.
The equity report says, the increase in the services offered by private hospitals, especially in Colombo, has led to increased choices for patients.
“Excess demand was common across the industry during the last two to three years. High purchasing power, change in consumer preference and higher penetration of medical insurance were catalysts in creating high demand for private hospitals. We understand that this resulted in private hospitals seeing close to 100% occupancy”, added the BRS equity research report.
However it says, as the industry attracted new investments, bulk of which came from the existing players who wanted to strengthen their positions, increased competition.
It cites examples such as the investments made by Asiri Hospitals in the Central Hospital in Norris Canal Road, Colombo and the Durdans Hospital sixth lane wing, as some of those investments.
This growth BRS says, has brought down the occupancy rates in Colombo hospitals to 60% – 70% levels.
The report highlights, the lack of adequate medical professionals such as doctors and nurses is putting pressure on the private medical institutions.
According to BRS, the private sector finds it difficult to attract nursing staff from the state sector thus leading many of those to start their own dedicated nursing schools to train the nursing staff.
The study has found that the disease patterns in Sri Lanka are changing due to changing lifestyles thus showing an increase in non-communicable deceases such as diabetes and cancer.
It is also notes that the present population is increasingly exposed to unhealthy factors such as smoking, high fat, high calorie diets and thus the risk of cancer, cardiovascular and repository diseases are higher.
This situation, BRS says will create demand for health services and private health care will continue to increase within the country.
http://www.news360.lk/other/health/competition-between-private-hospitals-in-colombo-is-increasing-%E2%80%93-equity-research-report
