Janet Ogundepo The National President, Guild of Medical Directors, Dr Raymond Kuti, has expressed worries that the medical practice as a business is at a critical juncture for survival, stressing that hospitals cannot thrive under the current 33 per cent bank loan rates. He called for the establishment of a dedicated health bank independent of the Treasury Single Account. Kuti stated this at the opening ceremony of the 2024 National Annual General Meeting of the GMD, on Thursday, June 27, 2024.
The conference themed, “From Profession to Industry Practice in a VUCA Environment” held at the Federal Palace Hotel, from Wednesday, June 26 to Friday, June 28, 2024. According to the Office of the Accountant General of the Federation TSAs are revenues and monies payable to the Federal Government, processed through Deposit Money Banks and electronic channels, with direct credit through the e-Collection system to designated accounts at the Central Bank of Nigeria. Shedding light on TSAs, Kuti said, “This bank would manage funds collected and provide single-digit loans to hospitals and doctors for necessary equipment and supplies.
Hospital businesses can’t thrive under the current 33 per cent bank loan rates. “Standardising medical services and care is paramount and should apply uniformly across private and government medical institutions.” Kuti further described the business environment in the health sector as volatile, uncertain and ambiguous.
“Just last week, two hospit.
