Bumrungrad Hospital profit takes painful hit due to Covid-19 crisis

[webfact]

Bumrungrad Hospital profit takes painful hit due to Covid-19 crisis

By THE NATION

 

 

Bumrungrad Hospital announced that its profit in the second quarter of 2020 decreased by 93.9 per cent to Bt44.42 million, after being hit by a 40 per cent revenue reduction due to the Covid-19 crisis.

 

Vice chairman Dr Chanvit Tanphiphat announced via the Stock Exchange of Thailand that Bumrungrad saw profit of Bt44.42 million, or Bt0.06 per share, a 93.9 per cent decrease compared to the second quarter in 2019, which saw a Bt724.98 million profit.

 

Bumrungrad’s total revenue in the second quarter was Bt2.487 billion, decreasing by 42.8 per cent from the same period last year due to the virus crisis. Its net profit margin was 1.8 per cent, falling from 16.7 per cent in 2019.

 

Revenue earned from Bumrungrad’s hospital business was Bt2.422 billion, a drop of 43.4 per cent. Of this revenue, 51.9 per cent was earned from domestic patients and 48.1 per cent from foreigners.

 

From January to June 2020, Bumrungrad saw profit of Bt809.62 million, or Bt1.05 per share, falling by 55.2 per cent from the first half of 2019. During the six months, total revenue amounted to Bt6.66 billion, decreasing by 26.6 per cent from Bt9.082 billion earned in 2019.

 

The net profit margin in the first half of 2020 was 12.2 per cent, from 19.9 per cent in the same period last year.

 

Bumrungrad’s dividend for the first half of 2020 was Bt1.15 per share.

 

Its stock price decreased by Bt4.5 to Bt106 in trading this morning (August 6).

 

Source: https://www.nationthailand.com/news/30392530

 

-- © Copyright The Nation Thailand 2020-08-06

 

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[Pumpuynarak]

What a shame......

[kotsak]

Let them eat cake, charging an arm and a leg for a simple cold.

[bbi1]

Seems like people aren't getting as sick these days this year, that's great news! Bad for the hospital though.

[Dario]

Most expensive hospital in Thailand! My mother was there, so we know what they charge. They should have built up plenty of monetary reserves over the many years that they are in operation. I wouldn't bat an eye lid.

[natway09]

Poor devils. At the prices they charge their reserves must be considerable

[Orton Rd]

what a bummer

[Isaan sailor]

I use Bumrungrad Hospital—best doctors, best facility and equipment.  Only go once a year, though.  

[Bender Rodriguez]

all the covid scare and less customers.... GOOD DEAL ...

 

healthcare should never be about MONEY GRABBING

 

USA crazy prices makes it look CHEAP for them, but expensive for anyone with real FREE HEALTHCARE in their home country,  well, except the government stealing half of your money in taxes

[Mango Bob]

AT one point they stopped taken Tricare for Life patients because it took to long to process our claims they say.  Now they want us back.  Screw them now.

[Mavideol]

4 hours ago, kotsak said:

Let them eat cake, charging an arm and a leg for a simple cold.

been there done that and argue with them for 1 hour with any success... since 2016 never went back and don't feel any sorry for them

Edited August 6, 2020 by Mavideol

[laocowboy2]

Used to have a lot of medical tourism - people from the Gulf, people like me having an annual Health Screen. No flights means no customers from abroad.

[chilli42]

5 hours ago, kotsak said:

Let them eat cake, charging an arm and a leg for a simple cold.

You go to the hospital for a simple cold?

[ChipButty]

14 minutes ago, chilli42 said:

You go to the hospital for a simple cold?

Some people do

[baansgr]

Another industry hit by no foreigners...GDP 12% my asss...far more

[Makoshark]

TIME TO INCREASE PRICES????  ????  ????  ????  ????????

[johng]

2 minutes ago, Makoshark said:

TIME TO INCREASE PRICES????  ????  ????  ????  ????????

Yes Thai business  practice 101 !!!

[TallGuyJohninBKK]

Welcome to the assembly line:

 

[pixelaoffy]

Something good come from Covid ! Extortionate medical provider takes a hit!

[leosurin]

I tought tourists were the causes of all unpaid bills,making bankrupt the hospital system in the country .

Well...wasn't after all...

[sammieuk1]

On the bright side the news is getting better everyday ????

[hotchilli]

7 hours ago, webfact said:

Bumrungrad Hospital announced that its profit in the second quarter of 2020 decreased by 93.9 per cent

Ouuuchhhhhh !

[JimGant]

2 hours ago, Mango Bob said:

AT one point they stopped taken Tricare for Life patients because it took to long to process our claims they say.  Now they want us back.  Screw them now.

Tricare's red tape is why all the other hospitals in Thailand won't accept it. Bumrungrad at least gave them a go for awhile, 'til the red tape got too unreal. And, as I understand it, they'll still accept Tricare for extensive in-patient care; it's just the out patient billing they're denying.

But no problem for most of us to pay up front, then file with Tricare for Life (overseas) for reimbursement. Since the "expensive" Bumrungrad prices come in well below the acceptable Medicare pricing in the US, I've never had anything denied or reduced in reimbursement.

And, since Tricare's catastrophic cap is still only $3000, whereby I wouldn't pay anything out of pocket, why would I ever go to anywhere less capable than Bumrungrad for something really serious? Heck, even annual checkups, where I pay 25% co-pay, are worth it, compared to sitting in a holding area in a gov't hospital for a few less satang in savings.

Yeah, if you want a Mercedes, and not a Ford -- and Uncle Sam will pay for it......

[Klong Song]

Can’t say I sorry for them. 

[Sydebolle]

This hospital, like the rest of the plot, overdid pricing for YEARS. As the "dirty farang" and - in Bumrungrad's case - the Middle Easterners are in complete absence ....... go figure! 

Get down to realistic terms and you get more local traffic in; it became a volume game lately - just in case the gurus have not noticed it yet! 

[lust]

I’ll light a candle for them tonight..

[impulse]

6 hours ago, Dario said:

Most expensive hospital in Thailand! My mother was there, so we know what they charge. They should have built up plenty of monetary reserves over the many years that they are in operation. I wouldn't bat an eye lid.

 

Maybe, but my treatment there cost less than my copay would have been in the USA, even with insurance.

 

They're very dependent on medical tourism, for which they offer pretty reasonable pricing by world standards.  It's businesses like this that are going to force Thailand to open up as they continue to bleed money.

 

[Orton Rd]

5 hours ago, Isaan sailor said:

I use Bumrungrad Hospital—best doctors, best facility and equipment.  Only go once a year, though.  

Most of those Dr's practice at other Hospitals and it costs far less to see them and get treated, somebody has to pay for all that marble and posh tables

[steven100]

who actually cares .   they charged too much anyway .   hope they go bankrupt .

[steven100]

41 minutes ago, lust said:

I’ll light a candle for them tonight..

yes .... i was thinking more of a bonfire