The Thai economy is likely to remain sluggish in the second half this year, resulting in fewer visits at privately-run Vimut Hospital, but its operator remains confident of reaching a revenue target of 1.3 billion baht this year, driven by the treatment of foreign patients.
The number of Thai patients is expected to decline amid economic uncertainties, said Pichit Kangwolkij, acting chief executive of Vimut Holding Hospital.
"Thai patients are careful about spending money on treatments, but the number of foreign patients is expected to increase," he said.
Vimut is aiming to expand its base of foreign patients, particularly targeting individuals from China, the Middle East, and other Asean member states such as Myanmar and Cambodia seeking medical treatment in Thailand.
Foreign patients comprise 8% of Vimut Hospital's patients, up from 5% last year, while Thai patients make up the other 92%.
The hospital's goal is to grow its foreign patient demographic to enhance future income, he said. The proportion of revenue from foreign patients is expected to rise to 50% of the total, a significant increase from the current 12%.
Established three years ago, Vimut Hospital sees an average of 450 patients daily in the outpatient department, which accounts for just 32% of its total service capacity, while the inpatient department sees an average of 50 patients per day, utilising 20% of its capacity.
The hospital expects to earn 1.3 billion baht in revenue this year, driven by foreign patients and revenue from specialist clinics.
Four new clinics, namely a headache clinic, an arrhythmia clinic, a nose and sinus clinic as well as a GERD and constipation clinic, have been recently opened at the hospital.
GERD refers to gastroesophageal reflux disease, which is a stomach disorder.
Vimut is confident the new clinics will meet the needs of younger generations who prioritise self-care to prevent serious illnesses, said Somboon Tosborvorn, director of Vimut Hospital.