Demand for private healthcare services is growing

OASTING one of Europe’s finest public health systems, Greece compares favorably with other EU nations in terms of expenditure on health, which exceeds 9% of GDP. An ambitious government program is currently under way to establish new hospitals and modernize existing facilities, with a budget of more than 1 billion euros ($1.3 billion).

A high proportion of Greece’s total health spending—around 40%—is accounted for by a growing private healthcare sector offering premium services to patients in modern buildings with state-of-the-art technology.

With affordable private healthcare services of world-class standard, Greece is also becoming an increasingly popular destination for health and therapeutic tourism. The Greek climate is highly favorable to the promotion of health and recovery, and the government is providing incentives for investment.

A prime example of a highly successful private health enterprise is the IASO Group, which offers full services covering all medical specialties. The IASO Clinic is one of the world’s largest and most modern hospitals, an obstetrical, nursing, and therapeutic facility with eight state-of-the-art nursing units, 19 specialized departments, experienced nursing staff, and 1,200 physicians. The nursing staff comprises 56% of the total employees.

IASO’s turnover posted a significant increase during the first half of 2004. Revenues registered a10% increase on the same period in 2003, amounting to 36.4 million euros ($48.2 million), while pretax profits increased by 1% reaching 10.08 million euros ($13.3 million).