Competition between private health care providers in Sri Lanka increased, says report

Dec 30, Colombo: Bartleet Religare Securities, a brokering firm of Sri Lanka publishing an equity research report on Nawaloka Hospitals says, the competition between private health care providers, particularly in Colombo has increased with customers demanding for quality services.

Report says the health care industry is under constant pressure to have the latest technology and equipment in order to outrun competition leading to more borrowings as the need for capital expenditure increases.

According to the report, the lack of skilled personnel within the industry makes poaching of staff a probable risk, and adds that the private health service providers need to pay attractive pay packages and increments to prevent the loss of experienced staff.

The report highlights that the lack of adequate medical professionals such as doctors and nurses is putting pressure on the private medical institutions.

The study has found that the disease patterns in Sri Lanka are changing due to changing lifestyles and therefore showing an increase in non-communicable deceases such as diabetes and cancer.

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