Forum: SIAMH’s woes reflect hardships of many private medical practitioners

I refer to the report about the Singapore Institute of Advanced Medicine Holdings (SIAMH) (

Beleaguered firm for cancer treatment looks to tap new business

, Dec 28).

In the three financial years before SIAMH’s listing on the Singapore Exchange in February 2024, it lost $9.4 million, $14.5 million and $19 million. SIAMH made another loss of $37.4 million in financial year 2024. Its poor financial performance reflects hardships faced by many private medical practices.

First, specialists in private practice find it hard to be enrolled into panels of various Integrated Shield Plans. Patients consulting non-panel private specialists would encounter disincentives, such as shorter follow-ups and higher deductibles. As a result, non-panel specialists find it hard to attract patients.

Second, our load of foreign patients has dropped significantly over the last four years. This is partly due to the improvement of medical standards in our neighbouring countries, as well as the high cost of medical care in Singapore.

Third, our costs have increased significantly. Private medical suite rentals and salaries of nurses and other supporting staff have increased significantly over the last few years.

I have been in private medical practice for 18 years, and I have witnessed the trials and tribulations of private practice. Investors must do their due diligence before investing in private medical practices.

Dr Desmond Wai