Increase in cost of insurance hits profits at Galway Clinic

The spiralling cost of medical indemnity insurance is an impediment to attracting leading physicians into Ireland, according to directors of one of the country’s leading private hospitals.

Directors of the Galway Clinic made the comments as part of its latest annual report which show a 2.6% drop in pre-tax profits from €13.15m to €12.8m last year.

The drop in pre-tax profits came in spite of revenues at Galway Clinic Doughiska Ltd increasing by 1% going from €85.83m to €86.85m.