Rizal Medical Center Philippines, Philippines Hospital trends- ken Research

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Philippines Hospitals Market Size on the Basis of
Revenue in USD Million- Ken Research
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What Is The Potential Of The Philippines
Hospitals Market?

• High prevalence of diseases due to growing
  population is the major factor which is driving
  the hospitals market in the Philippines.
  Additionally, rise in per capita healthcare
  expenditure, infrastructural development in the
  hospital industry and growing medical tourism in
  the country are the major factors which are
  further fuelling the hospitals market in the
  country.

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• Philippines hospitals market was inclined to USD
  million in 2016, which included both government
  and private hospitals, recording a CAGR of in
  between 2014 to 2016 with revenues being USD
  million in 2014. The hospitals market of the
  Philippines witnessed a growth when the
  government in November 2014, made it mandatory
  for all senior citizens to receive PhilHealth
  insurance coverage

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• This gave more ease to the people who were not
  financially well-off to undergo expensive
  surgeries and treatments. Number of patients
  visiting the hospitals increased with these
  health insurance benefits where they spent
  relatively less money on healthcare services,
  thereby generating revenues for the hospitals.
  Major private players operating in the market
  also served as the platform for medical tourism
  in the country.

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• Growing at a rapid pace, this segment dominated
  the market in 2016 with share of in the
  overall revenues of the hospitals market in the
  country. Tertiary hospitals serve as the basis
  for increased medical tourism in the Philippines
  as international patients prefer hospitals where
  they can avail the best in-class health
  facilities. Doctors offering their services in
  secondary and tertiary hospitals often set up
  their own primary hospitals due to low investment
  and less capital outlay requirements. Primary
  hospitals contributed to the revenues of
  overall hospitals market of the Philippines in
  2016.

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• In the Philippines hospitals market, private
  hospitals held of the market share in terms of
  revenues in 2016. Private hospitals charge more
  consultation fee and other prices for imparting
  healthcare services to the people, thus making
  them earn more revenues than government hospitals
  and making this segment dominate the market.
  Technologically advanced procedures provided by
  the highly qualified doctors and physicians in
  the country was the major reason responsible
  behind people opting for healthcare services from
  the private entities, thereby adding to their
  revenues.

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• Outpatient services dominated the hospitals
  market with revenue share of in 2016 owing to
  the increased number of outpatient visits for
  medical consultations and check-ups by the
  qualified physicians and surgeons available the
  hospitals. The numbers of outpatient for almost
  all hospitals were more than twice the number of
  inpatients. For instance, Dr Jose N Rodriguez
  Memorial Hospital witnessed outpatients in
  2016, compared to inpatients during the same
  year.

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• Revenue from inpatient services followed
  outpatient revenue of the hospitals market in the
  Philippines, majorly due to high income
  generation from long stays at the hospitals.
  Providing inpatient services helped the hospital
  market in generating USD million in 2016.
• Services offered by diagnostic laboratories set
  up in the hospitals are also a considerable
  source of revenue for the market players. Majorly
  catering to the diagnostic needs of inpatients
  with technologically advanced procedures at
  prices prescribed by the hospitals, this segment
  adds revenue to the overall revenues generated
  by the hospitals. Hospital-based pharmacies
  provide fixed amount or percentage of the revenue
  to the hospitals as per the conditions of the
  agreement. The revenue generated from hospital
  based pharmacies is increasing at a high rate as
  the patients also purchase

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• medical devices, OTC medicines, and other
  cosmetic goods from hospital-based pharmacies.
  Hospital based pharmacies contributed to the
  revenues earned by the hospitals in the country.
• Various other sources add to the revenue streams
  of the hospitals in the country, contributing
  to the overall revenues. These include donations
  and money received from NGOs, government,
  business entities, private organizations, PDAF,
  PSCO and other sources which cater to the funding
  needs of the hospitals for providing quality
  healthcare services to the patients in the
  Philippines. The PCSO donates to hospitals of the
  Philippines by providing financial assistance for
  the purchase of medical and surgical supplies,
  medical equipments and the construction and
  renovation of devolved and retained hospitals,
  municipal health centers, day care centers and
  also to private institutions implementing welfare
  programs nationwide.

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• MoreDetailsVisit https//www.kenresearch.com/he
  althcare/general-healthcare/philippines-hospitals-
  market-report/105284-91.html
• Contact UsKen ResearchAnkur Gupta, Head
  Marketing CommunicationsAnkur_at_kenresearch.com
  91-9015378249
•  

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