Abdulaziz Alobaid, CEO of National Medical Care Co.
National Medical Care Co. reported 40% growth year-on-year (YoY) in new admissions and surgeries for the second quarter of the year, Chief Executive Officer (CEO) Abdulaziz Alobaid told Argaam in a telephone interview.
Admissions and surgeries made up 3.6% of visits in the current year, compared to 5.3% last year, Alobaid said, noting COVID-19 patients fully occupied their facilities with lower total visits due to lockdown imposed by the government.
Care witnessed a rise in patient visits, including admissions and surgeries, during the second quarter, which contributed to better revenue. Moreover, a decline in the bad debt provisions and savings in controllable spend bolstered the rise in revenue, Alobaid explained.
The healthcare services provider is still negotiating with the General Organization for Social Insurance (GOSI) for their contract extension, however no decision has yet been taken. Meanwhile, Care continues to serve GOSI patients, the top executive noted.
Additionally, Care is still in process of obtaining the approvals required for the expansion plan of the National Hospital from the Ministry of Municipal, Rural Affairs and Housing. However, there has not been any update on this matter, Alobaid concluded.
Care reported a net profit after Zakat and tax of SAR 66.5 million for the first half of 2021, a 13% increase from SAR 58.9 million in the same period last year. Its second-quarter net profit stood at SAR 30.7 million, Argaam reported.
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