Galway Bay fm newsroom - Pretax profits at the Galway Clinic decreased by 44.5 per cent to €5.15 million in 2017.
New accounts filed show that Galway Clinic Doughiska Ltd recorded the sharp drop in pretax profits from €9.29 million to €5.15 million as revenues declined marginally from €90.93 million to €90.65 million.
The Irish Times reports that medical inflation and lower reimbursement rates by insurers contributed to the decrease.
Directors state that medical inflation is eroding the hospital’s profitability as reimbursement rates from the private health insurers fail to keep pace with medical inflation.
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