Prof. Dr. Chalerm Harnphanich, Chairman of the Executive Committee of Bangkok Chain Hospital Public Company Limited (SET: BCH), revealed to Kaohoon that last week, the company signed a contract with the government of the Maldives to accept patients for treatment at World Medical Hospital (WMC), a hospital owned by BCH. This makes WMC the only hospital in Thailand and only two in the world, alongside one in the UAE, with this arrangement.
In its selection process, the Maldives government prioritized hospitals with readiness and specialized treatments, quality personnel, high treatment standards, and strong outcomes. New patients are expected to start arriving after the New Year in 2025, which will help boost revenue from international patients. After all, the Maldives currently spends over 6 billion baht annually on healthcare.
WMC currently offers specialized medical services across all fields, with a focus on excellent service and high-quality standards. The hospital is recognized as one of Thailand’s leading private hospitals, trusted by both Thai and international patients for the skills, knowledge, and capabilities of its doctors, nurses, and staff, as well as its modern medical technologies. Additionally, WMC is accredited by the JCI.
This agreement aims to assist patients from Maldives with high-complexity medical conditions to access quality healthcare in Thailand.
Prof. Dr. Chalerm emphasized that WMC is dedicated to continuously improving its quality and standards to provide patients with the best possible care. The hospital is accredited by the Joint Commission International (JCI) from the US, a globally recognized standard that ensures international quality and safety. Its doctors, nurses, and medical staff receive training from top institutions both in Thailand and abroad. WMC also places a strong emphasis on advancements in medical innovation and technology.
In the meantime, the CEO states that the number of Kuwaiti patients has been gradually increasing. While Kuwait’s government has not yet officially started the hospital selection process, BCH is confident that its hospital will be one of the selected three. This will generate new revenue and boost the growth of its international patient revenue. Notably, the loss of revenue from Kuwaiti patients this year has almost been fully compensated by the influx of patients from Cambodia, Laos, Myanmar, and Vietnam.
As a result, the company expects its overall performance in 2025 to show a strong growth in medical service revenue and improved profitability in 2025 compared to 2024. This growth is attributed to the completion of renovations across all hospitals by early 2025. The upgrades are anticipated to enhance both Outpatient Department (OPD) and Inpatient Department (IPD) services, leading to an increase in insured patients, self-paying patients, and social security patients.
BCH also anticipates an increase in the proportion of foreign patients in 2025 compared to this year. In 2024, the proportion of foreign patients was 14%, decreased from 18% in 2023, primarily due to the decrease in Kuwaiti patients. Meanwhile, next year patients will include social security patients, whose numbers are expected to grow with a new quota of approximately 2 million, up from the current 1 million, making them the largest patient group in Thailand.
Moreover, BCH has extended its contract with the Social Security Hospital to receive compensation for critical illnesses (AdjRW greater than 2) at a fixed rate of 12,000 baht per AdjRW for the entire year of 2025. Similarly, all hospitals have renewed this contract as well.
