FERM 2024 | Message from the Manager of the National Institute of Physical Medical Recovery and Balneoclimatology, Adrian MIULESCU
100 economic opportunities for the development of the Moldova Region on the A7 Highway route
Panel „HEALTH”
Module III – Methods of financing public hospitals, 18th Edition of the Moldova Regional Economic Forum, Vatra Dornei, 2024
SPEAKER – Adrian MIULESCU – Manager of the National Institute of Physical Medical Recovery and Balneoclimatology
Topic: „Alternative methods of financing public hospitals”
In a context where the demand for medical services is increasing and resources are limited, it is vital to explore and implement innovative financing methods to ensure the sustainability and efficiency of public hospitals. Adrian Miulescu, Manager of the National Institute of Physical Medical Recovery and Balneoclimatology, addressed this topic during his presentation, emphasizing the importance of diversifying funding sources for public hospitals.
Public-Private Partnerships (PPP)
Public-private partnerships are a viable financing method where the private sector contributes capital and managerial expertise, while the public sector provides regulation and service accessibility. PPPs can finance the construction of new medical infrastructure, modernization of equipment, and development of innovative treatment programs.
„Public-private partnerships provide an efficient solution for developing medical infrastructure and improving the services offered to patients”, said Adrian Miulescu.
EU structural and cohesion funds
„Accessing EU structural and cohesion funds represents a significant opportunity for modernizing public hospital infrastructure, implementing advanced technologies, and providing professional training for medical staff”, stated Adrian Miulescu.
These funds can be used for large-scale projects that bring public hospitals up to international standards.
Donations and sponsorships
Donations and sponsorships from the private sector, NGOs, and philanthropists can represent significant funding sources. Transparency and accountability in managing these funds are essential to maintaining donor trust.
„Transparency in the use of donations is crucial for ensuring the continuity and growth of these contributions”, emphasized the Manager of the National Institute of Physical Medical Recovery and Balneoclimatology.
Crowdfunding and community initiatives
Crowdfunding allows hospitals to launch campaigns to fund specific projects and directly engage the community. „This model not only brings financial resources but also increases community awareness and involvement”, explained Adrian Miulescu.
Additional service revenues
„Public hospitals can generate additional revenues by offering supplementary services such as private diagnostic centers, rehabilitation services, or wellness programs”, continued the message from the institute’s manager. The revenues obtained can be reinvested into the hospital’s infrastructure and services, thus contributing to their continuous improvement.
Health bonds
Issuing health bonds can attract significant investments from the private sector and institutional investors, providing resources for critical infrastructure and technology projects. „This financing method can facilitate access to the necessary capital for modernizing and expanding hospital capacities”, mentioned Adrian Miulescu.
Cost efficiency and resource management
Cost efficiency and internal resource management are crucial for the financial sustainability of public hospitals. Implementing modern management systems and digitizing processes can reduce operational costs and free up resources for strategic investments.
„Cost efficiency not only reduces financial pressure but also improves the quality of services provided”, emphasized Adrian Miulescu.
Conclusion
Alternative financing methods represent viable solutions to ensure the future of public hospitals. Diversifying funding sources and adopting innovative models can improve the quality and accessibility of medical services for all citizens. Continued exploration and implementation of these methods will contribute to a more robust and efficient healthcare system.
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