Gesy not facing financial problems, says chairman

Gesy is not facing financial problems, chairman of the HIO Stavros Michael said on Monday after meeting in Nicosia with Akel secretary-general Stefanos Stefanou.

Michael, whose organisation oversees the running of Gesy, said the system’s reserves remain above internationally recommended levels and dismissed claims that Gesy’s sustainability is at risk, which were raised at a previous House committee meeting.

“The issue of sustainability does not arise,” he said, adding, “that the priority now is not survival, but improving oversight and long-term planning.”

Michael said new control measures are being introduced, including specialised data analysis software that will monitor billing and medical procedures in real time.

Stefanou reiterated Akel’s support for Gesy but raised concerns about the lack of a comprehensive capacity plan outlining Cyprus’ needs in hospital beds, services and infrastructure.

Without clear planning, resources cannot be managed efficiently, and patients may not receive timely, quality care, he said, calling for the submission of a health map to guide future decisions.

The Akel leader also warned about foreign investment groups acquiring private hospitals, saying dominant market positions could affect the system’s single-insurance character and equal access.

Both sides agreed that Gesy is financially stable, but stronger controls, better planning and safeguards are needed to ensure its proper functioning in the future.