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Private health sector propped up by NHS

Spire Healthcare has stated that it is “cautiously optimistic” that trading and profits will bounce back to 2019 levels after reporting income down by 6.2% to £920m during 2020, not least because of increased contract work for the NHS.

Sales picked up in the second half of the year, with “exceptionally strong growth” in self-pay revenue in quarter 4, and Covid-19 contracts bringing in £363m of the £430m of NHS funded treatment – up from £286m in 2019. In other words NHS payments made up almost half (47%) of total revenue.

Reviewing the outlook the company notes the “positive dynamics in our market have not changed with lengthening waiting lists and significant demand in both the NHS and private sector resulting from the postponement of elective procedures during the pandemic.” leading to “double digit growth in self-pay revenues in Q4 20 and January 2021.”

Full story in The Lowdown, 17 April 2021

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