Riga 1st Hospital posts 17.7% drop in profit last year

SIA "Rīgas 1. slimnīca" (Riga 1st Hospital), owned by the Riga city council, reported a profit of €932,693 last year, which is 17.7% or €200,285 less than in 2024, when it stood at €1,132,978, according to the hospital’s management report.

The hospital’s turnover reached €33.84 million in 2025, compared to €31.42 million in 2024 (the source text states 3,142 million, which is likely a typographical error). Last year, the hospital acquired fixed assets worth €1.79 million and invested €1.39 million in leased fixed assets.

The financial results were affected by both an increase in the volume of healthcare services provided and a rise in costs, including inflation, higher prices for energy, medicines and medical supplies, as well as increased personnel costs.

In total, the hospital provided 532,592 healthcare services in 2025 – 4% more than in 2024. State-funded services increased by 3.2%, while paid services grew by 4%. Paid services made up 53.7% of the total service basket in 2025, and state-funded services – 46.3%. The hospital attributes the share of paid services to patients’ desire to receive services faster, demand for specific examinations not covered by the state, and consultations with certain specialists.

Revenue from paid services increased by almost €1.7 million or 12%, while revenue from out-of-quota services grew by approximately 5% or €40,000.

The fastest growth in state-funded services – 20% – was in rehabilitation. Day hospital services increased by 7.4%, and stoma care services by 30%. The hospital also introduced more than 15 new paid services, including optic nerve sonography, capillaroscopy, a mental and physical wellness programme, brow lift surgery, and others.

The hospital also operates a short-term social care centre, which cares for up to 110 clients daily. Last year, 1,298 clients were discharged, of whom 966 were partially funded by the municipality and 332 were paying clients. The total number of bed days was 29,702. In 2025, the number of municipal-funded beds was reduced from an average of 90 to 65, while the tariff was increased, and the maximum length of stay was cut from 60 to 30 days, leading to higher client turnover and workload. The average length of stay decreased by 34% – from 35 to 23 days.

The number of hospital employees increased by 8% – from 841 at the beginning of the year to 908 at the end. A total of 49 doctors and functional specialists started work. The hospital also trained 160 residents and hosted 306 student internships.