Hospitals Set to Face Credit Rating System Soon

Hospitals Set to Face Credit Rating System Soon

While economic downturn is affecting every single country across the world, a recent report has indicated that a fresh proposal has been made to rate services of hospitals through credit rating. There have always been issues raised about services provided by hospitals and perhaps that's why so much is being talked about. It was told that the new system would allow credit rating agencies like Standard & Poor's, Moody's and Fitch to track range of parameters of hospitals to ascertain their long term sustainability. Even, the management team would be observed on an array of factors to check their competence in various situations.

With the new system in place, health care providers which include hospital trusts and private companies would be entitled to get ratings of BBB by Standard & Poor's, Baa3 by Moody's and BBB by Fitch. The proposal is expected to get green signal once the rehaul of the NHS is done.

While if health care providers overlooked the severity of the proposal and ignored the possible consequences, there are chances that it could even lead to closure of such poorly managed hospitals. Though the newly proposed system is being projected as concrete, there are some critics, questioning the exact rationale behind giving grade to hospitals just to decide on the financial future of the health care organizations or about the care quality.

"This news will send a chill wind through the NHS. People will shudder at the thought of an NHS at the mercy of the money markets, where profits come before patient care", said Andy Burnham, the Shadow Health Secretary. It is being believed that this step would change the perception of general public about the model of health care. While there would be many to oppose the proposal, it would not be wrong to say that every single change take its due course of time to be fully accepted.


User login



You May Have Missed...

Research finds improvement in proportion of people surviving years after cancer
Fri, 04/24/2015 - 12:53

According to a new study, US cancer survival rates are improving years after a cancer diagnosis.

The researchers analyzed the survival...


Nigeria Update

Fresh Polio Cases lead to WHO Travel Restrictions on Pakistan and Syria
Tue, 05/06/2014 - 00:45

World Health Organization has slapped international travel restrictions on Pakistan, Cameroon...


Economy Watch

Federal Reserve officials not sure about Right Time to Increase Interest Rates
Thu, 02/19/2015 - 09:12

Federal Reserve officials held minutes of the January 27-28 meeting and it indicated that...


Health Tonight

Study shows short people face higher risk for heart disease
Thu, 04/09/2015 - 12:04

According to a new study, short people have a higher risk of heart disease as the genes that...


Science Tonight

Health experts say Killer hornets might reach the UK
Thu, 04/23/2015 - 02:17

Health experts in the United Kingdom have warned that the hornets that have killed six people in...


UK News

False Memories sometimes occur in Bumblebees: Study
Mon, 03/09/2015 - 12:42

According to researchers at Queen Mary University of London, bumblebees are capable of keeping...


Pharmaceuticals

Astrazeneca’s Experimental Drug to Treat COPD Fails to Reduce Acute Exacerbation
Mon, 09/08/2014 - 13:17

On Monday, AstraZeneca PLC announced that Phase IIa study of benralizumab, an experimental drug...


US News

Google creates doodle for Earth day
Thu, 04/23/2015 - 02:10

Internet giant, Google is marking the annual Earth Day with a special interactive doodle on its...


Technology Tonight

Taylor Swift has bought all porn domains with her name
Tue, 03/24/2015 - 12:48

According to a CNN report, American singer Taylor Swift has recently purchased all the porn...