Healthcare in Greece

Healthcare spending has fallen every year since 2009, reaching €14.1b in 2014, mainly due to the contraction in Government and Social Security coverage. However, this decline in healthcare spending appeared to be smaller for Hospitals, which proven to be more resilient than other market players (e.g. pharmacies, private practices etc.).

Following a considerable growth until 2009, Net Sales of Private Hospitals have been since declining, with the exception of 2012. The introduction of Rebates and Clawback mechanism in 2013 was a main contributor to this decline of hospitals’ revenues.

The aforementioned incidents, accompanied with an increasing competition and sharply climbing costs, appear to have initiated a process of consolidation in the healthcare sector. These signs are apparent in the private sector, as the number of hospitals has been reduced by approximately 21% and the average size has been increased by approximately 5% during the period 2012-2014.

The first months of 2017 presented a number of interesting developments, including the discussions about a new legislation on Primary Healthcare, the announced figures for healthcare statistics for 2015, which indicate a recovery of expenditure to €14.7b, as well as the demonstrated appetite for business agreements by international investors.