Weatherhead’s MSM-Healthcare program director suggests the healthcare giant should move forward with caution.
The Cleveland Clinic’s global reach continues to expand with its eye on new facilities in the United Kingdom and potentially China. London’s pricey west end is the next location for international Clinic presence, where the system will convert a six-story office building into a 200-bed hospital. However, with the country’s public and private healthcare options, the move has the potential to be a risky one.
Weatherhead School of Management’s Mark Votruba, faculty director of the MSM-Healthcare program and associate professor of economics was interviewed on the topic for Crain’s Cleveland Business, excerpted below.
A move into the United Kingdom is very specific to that environment, where the private sector is growing as an alternative option to the taxpayer-funded National Health Services system, said Mark Votruba, a professor at Case Western Reserve University who studies health economics.
The Clinic sees itself as potentially being a major player on the private side. But there’s a risk behind that expansion, he said, as the economics of the public health care system won't necessarily remain the same.
“The private health care market in London and in England is somewhat dependent on how generous the national health services is funded,” Votruba said. “If the British National Health Service suddenly became really well funded, that would put a damper on demand for private alternatives and that would leave the Cleveland Clinic in a potentially dangerous place.”
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