General view of BUPA website page. PRESS ASSOCIATION Photo. Picture date: Tuesday December 11, 2012. Photo credit should read: Rui Vieira/PA Wire
Private medical group Bupa hailed an “encouraging” improvement in its UK arm after action to slash costs and lower medical fees helped more than double half-year profits.
The organisation employs 33,000 staff in the UK and has four major Scottish centres, including a facility at Glenrothes.
It posted a leap in UK underlying profits to £59.2 million in the six months to June 30 from £26.4m a year earlier, reversing a decline in its domestic business, which saw earnings slump 22% in 2012.
Customer numbers fell by 3% to 2.8 million in the UK. Revenues remained flat at £1.3 billion.
However, the healthcare provider said efforts to tackle rising costs were starting to pay off as it negotiated lower fees with hospitals and doctors and introduced telephone-based support for patients to discuss treatment options.
The group also slashed costs and cut jobs as part of restructuring which saw its UK administration teams combined. It said trading had remained tough in care home business Bupa Care Services, and it had faced higher energy and wage costs.
Bupa, which makes more than 70% of its revenues overseas, saw profits fall by 15% to £218m in the period.
