And while Coye is making the best of a bad situation, another perspective is that government is throwing good money after bad. That's the considered opinion of Dr. Marcello Coyi. He's the founder and chairman of Belize Medical Associates which competes directly with Universal for business from private patients. Under the plan, he would lose direct competition, and end up competing against a megalith. But that's not really his worry, he told me his concern is that more money will be spent to buttress Universal.
Dr. Marcelo Coyi, Medical Associates - Chairman
"With very little information, deep analysis is impossible but preliminary I don't think it will make much of a difference to us. If everything remains the same, we get patients from KHMH and these are patients who pay for imaging services and lab services. If the scenario continues that they have to pay at Universal and here, we will still continue seeing them because the patients will have a choice as to where they want to go.
As I said I don't know all the arrangements, I don't think anybody knows the arrangement, but yes if they are subsidizing, the cost of a blood test or Xray is the same at the three institutions, what varies is really the markup and KHMH is subsidized by government so yes if government is going to subsidize the cost of imaging and blood tests at Universal, it is going to be cheaper than us.
I am more concerned about this whole thing as a private citizen really because I cannot see how government can invest so much millions of money in a company that is basically financially insolvent. I don't know of anybody or corporate group who invests in insolvent companies. You invest in companies that are viable and producing profits or doing something good and that I think is what I think I am more concerned about. If a company cannot make it on a purely private basis and government is going to invest in a losing company, it makes absolutely no sense to me."
But despite Coyi's doubts, the amalgamation plan continues to move ahead and Minister Joe Coye has said that he will consult with the KHMH board soon.
