Private hospitals suffer pandemic inflicted losses

By Tat Dat November 23, 2021 | 05:44 pm PT

A man registers for a check-up at Trieu An Hospital in Binh Tan District, Ho Chi Minh City. Photo courtesy of Trieu An Hospital

Private hospitals in HCMC and Hanoi are reporting losses after months of limited operations necessitated by the Covid-19 pandemic.

After four years of making profit, the Tam Duc Heart Hospital in HCMC’s District 7 posted a loss of VND13 billion ($571,440) in the third quarter this year.

Its revenue plunged 63 percent to nearly VND54 billion.

The hospital has cut down salaries but high overhead costs and additional Covid-19 measures remained major financial burdens.

Its nine-month profit has fallen 86 percent year-on-year, the hospital said.

In Binh Tan District, Trieu An Hospital posted its second quarterly loss in a row at VND22 billion, against VND14 billion in the second quarter.

The hospital saw third quarter revenues plunge 70 percent year-on-year.

In Hanoi, the Transportation Hospital in Dong Da District saw a loss of VND11 billion in the third quarter, with revenue dropping 36 percent year-on-year to over VND24 billion.

Its accumulated loss stands at nearly VND188 billion, the hospital said.

Nationally, the number of health checks fell 10 percent year-on-year last year to VND167 million, according to the health ministry.

In HCMC the figure dropped 21 percent after rising for the previous 10 years.