Public Hospitals should list on stock exchange – Chamber of Pharmacy

The Ghana Chamber of Pharmacy is advocating for public hospitals to be privatized by listing on the Ghana Stock Exchange (GSE).
The Chamber believes that the move will bring about improved efficiency in the delivery of health care services and will also win the government out from spending huge amount of resources on their operations.
“When you go to other jurisdictions like India, the Apollo Hospital is privatized and listed on the Stock Exchange. When you go there, you see the efficiency level, the commitment to deliver quality service and the commitment of staff towards the service that they are providing.”
“So, what we are saying is that if the Government of Ghana can take this bold initiative – like say all Teaching and Regional Hospitals – let us list them on the Ghana Stock Exchange (GSE) for us to see how efficient the service delivery will be like in those health institutions,” said the CEO of Chamber of Pharmacy, Anthony Amekah.
He added “Before you can qualify to list on the Stock Exchange, one, your management structure should be sound, your financials should be sound, your capability to manage the institution should be sound. The Chief Executive Officer will then be appointed by the shareholders. This will make you run like a business although the social aspect of it will still be there.”
Mr. Amekah said this in an interview with Kwaku Owusu Adjei on Si Mi So on Kasapa 102.3 FM Thursday.
His call comes in the wake of service withdrawals by medical doctors and other health professionals and workers in the health sector.
When asked about his views in the payment of healthcare in relation to the business aspect of his proposal, Mr. Amekah said “when you, for example, buy drugs and non-drug consumables, pay salaries of staff and other things, if you are not running it like a business, how will you be able to pay all these cost at the end of the day? How will you be able to maintain the facilities to be in business?
“So, we are not talking about the marginal profit but rather where there will be efficiency in the management of the health institution.”
He conceded though that the initiative when pursued, will make some profit  but noted that that will keep the institution to be in business.
He dismissed claims that his proposal when implemented will raise the cost of health care delivery in the country.
“Even now, the system is regulated. If you buy drugs from the central medical stores to the regional medical stores, there is a markup – from the regional medical stores to the district medical stores, there is a markup – from the district medical store to the facility level there is a markup. The same controls or regulations will be maintained and strictly monitored.”
When asked by Owusu Adjei whether in his proposal he factored in health insurance, Mr. Ameka answered “that means we have to do things differently. Health insurance cannot sit there for six months without paying the provider.
At the same time, we have to look at the mechanism where we can make sure that service providers are paid on time. There will not be loss of money.”