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Business Warsaw Journal - Article Last updated: 7th Mar 2003, 8:41 Banking & Finance Business Gov't & Politics IT & Telecom Law & Order Real Estate Other News Lifestyle This week's WBJ Enter keyword(s): Advanced Search Editorial Government Eye Brussels Eye Investor Eye Tax Eye Audit Eye Legal Eye Guest Column Off Beat This week's columns Movie Guide Restaurant Guide Going Out Calendar Conference Calendar Internet Marketplace Newsletters Archives Advanced Search Early Warning System WBJ Events Export-Import Center Registration WBJ Subscribe AM Subscribe WBJ Store Affiliates Do Business With Us LOG IN FAQ About Us Feedback Advertise Staff List WBJ HomeGov't & PoliticsHealth fund hit by new wrangles 7th Mar 2003, 22:39 Gov't & Politics The problem is that the banks are not too keen to help out. Restructuring hospitals debts is not what bankers call a plain vanilla product, said one banker, who asked not to be named. A plain vanilla product, he explained, was an ordinary financial product that bankers were used to and did not require any special provisions or involve additional risk. In short, the consensus among bankers is that hospitals are not good we re clients. For one thing, hospitals are not companies from the legal point of view. They have no obligation to submit their financial results or undergo audits. Any bank that considers dealing with a hospital will invariably seek guarantees from its effective owner, the local authority. But the local authorities have their own financial problems and are not always ready to make such a budgetary commitment. One of the few financial institutions prepared to lend money to the country s hospitals is Nordea Bank. The bank has to date signed 20 debt-restructuring contracts with hospitals, with a total value of several tens of millions of złoty. It s the local authorities really interested in, said Arkadiusz Rozmysłowicz, head of the credit department at Nordea Bank. We lend to a hospital as a way of getting into business with the local authority. The introduction of the National Health Fund has, in the short term at least, added to the banks reluctance to lend. They are not sure the will hospitals have their existing contracts - all of them one year - renewed. Previously, they could predict the decisions that would be taken by the regional health funds. With a new body overseeing the whole process, there is significantly more uncertainty. There is a widespread belief also that decisions taken by the national health fund will be subject to political influence. Such fears have been given credence by events in Dolnośląskie and Śląskie voivodships, where the regional health funds were the best-managed and wealthiest in the country. At the end of last year, on the orders of then-health minister Łapiński, money set aside by the two regional health funds against future expenditure was seized and handed over to other, less efficient health funds. The uncertainty over the future funding of the health service is being compounded by political infighting over who will head the new National Health Fund. Łapiński, who is widely believed still to wield considerable influence with the prime minister, is backing Aleksander Nauman, a vice minister for health who is known to be at loggerheads with current minister Marek Balicki. As for Balicki himself, he is said to favour deputy finance minister Halina Wasilewska-Trenkner for the post. A third, and possible compromise, candidate is Alfred Owoc, an SLD deputy and member of the Sejm s health commission. The decision on who will be appointed to the post rests with the prime minister. Discuss this subject with other users Previous Page Poland AM Warsaw Business Journal Weekly Headlines Regional Roundup We are set to meet with Minister Cytrycki ... so that in the not-too-distant future the treasury will prepare a strategy of how to manage TPSA shares in a way that does not hurt the company. - Marek J zefiak, chief executive of TPSA Project Management Companies Early Warning System BBJ | PBJ | WBJ | CEEBIZ | BOL | CEEProperty | Warsaw Insider 2002 New World Publishing Kft and New World Publishing, Inc. All rights reserved. Republication or re-dissemination of the contents of this screen are expressly prohibited without the prior written consent of New World Publishing.

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