Bumrungrad 2020 financial results shows medical travel hit

 

Despite growth in Thai and expat business, the continued restrictions on travel and medical tourism, though improving, continues to impact the Bumrungrad Hospital international business.

Third quarter 2020 performance improved significantly from the previous quarter, due largely to the lifting of the national lockdown within Thailand and from targeted marketing, resulting in recovery and growth in Thai and expat business.

Total revenues for the first nine months of 2020 decreased to Baht 9,611 million (US$316m), 31% less than the same period for the previous year. Net profit for 2020 decreased by 64% .

Revenue from hospital operations in the third quarter 2020 fell by 39% year-on-year. This was mostly due to a decrease in revenues from non-Thai patients by 60%, offset with an increase in revenues from Thai patients by 3%. The revenue contribution from Thai patients was 56%, whereas revenue from non-Thai patients was 44% compared with 33% and 67%, respectively, for the same period in 2019.

Not all non-Thai patients are medical tourists as this category includes foreign expatriates, travellers, and patients at the group’s Cambodian hospitals.

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