Netcare 'superbly positioned' to collaborate with all stakeholders on NHI
The private hospital group delivered a solid set of financial results for the six months ended 31 March 2024 despite lower volumes and high inflation in the healthcare sector.
Bruce Whitfield speaks to Dr Richard Friedland, Netcare CEO.
There's lots of concern and uncertainty in the medical fraternity, over the implementation of the National Health Insurance (NHI).
There're many questions and very few answers about how it's all meant to work, since the president signed the bill into law last week.
It will no doubt lead to greater conflicts and uncertainty about the broader sector, and how government plans to work in unison with the private sector to ensure a positive outcome for everyone.
Speaking to Bruce Whitfield on The Money Show, Dr Richard Friedland, Netcare CEO says as a private healthcare provider, they can assist government to ensure they make a success of NHI.
"I think what's created this anxiety is there are fundamental flaws that have been pointed out, but they were largely ignored..."
- Dr Richard Friedland, CEO - Netcare
"There are areas of grave concern, and I think it represents an enormous missed opportunity, because had there been real meaningful collaboration...we could've already had universal healthcare in South Africa."
- Dr Richard Friedland, CEO - Netcare
The Netcare Group delivered a solid set of financial results for the six months ended 31 March 2024, despite lower volumes and high inflation in the healthcare sector, particularly wages and medical consumables.
Group revenue increased by 4.3% to R12 034 million, while normalised operating profit increased by 8.7% from R1 382 million to R1 502 million, and normalised profit before taxation increased by 7.1% to R1 000 million.
The Netcare Board of Directors has declared an interim dividend of 30.0 cents per share.
Friedland adds that significant flaws in the NHI Bill will likely result in it being challenged on numerous fronts and unfortunately lead to further delays in its implementation.
He says a strong collaboration between all stakeholders is required to get NHI over the line.
"The president, after the fact has said that we want to listen and collaborate and cooperate with the various stakeholders, and we welcome that statement."
- Dr Richard Friedland, CEO - Netcare
"We are very excited about the future in terms of healthcare, even if there is a form of universal healthcare, which we can support as a collaborative venture between all stakeholders, we think we've positioned ourselves superbly for that."
- Dr Richard Friedland, CEO - Netcare