London’s second biggest private hospital will be “expanding its footprint” in the capital, as trust in the UK’s public healthcare system reaches an all-time low.
Cleveland Clinic London, which opened a year ago today, said there had been approximately 75,000 patient visits with 28,333 unique patient appointments at the hospital and its Portland Place Outpatient Centre.
"We have seen a strong demand for care across all our specialties – but especially complex care in cardiac, neurology, orthopaedics, digestive disease," Tommaso Falcone, Cleveland Clinic London Interim CEO, told The National.
Overseas health patients accounted for about 2,000 of those who used the hospital next to Buckingham Palace, official home of the monarch.
A British Social Attitudes survey revealed that just over half (51 per cent) of people are unhappy with the public National Health Service.
The NHS faces the most severe pressures in its 74-year history, with 7.1 million patients waiting for treatment. It is increasingly outsourcing its elective care to private healthcare providers.
Waiting times for emergency services across the country reached up to 12 hours in January.
Since opening, the private hospital in Central London has admitted 2,942 patients, with about 14 per cent of those coming through the acute admissions unit, an emergency care ward.
The 184-bed hospital is the second largest in the capital after the Wellington Hospital, and focuses on heart and vascular, digestive disease, neurosciences and orthopaedics. It is one of few private hospitals in the UK to have an MRI scanner within its surgical suites, allowing surgeons to scan their patients during operations.
Over 100 complex heart and brain and spinal cord operations were performed at the hospital, including brain surgery where the patient is awake during the procedure. The hospital said it began performing these operations within three months of opening.
The hospital says it has supported the NHS with its waiting lists for complex procedures for spine, brain and digestive disease. It did not provide a number of NHS patients treated this year.
However, there are signs that pressures on the NHS may spill into the private sector. Junior doctor strikes in March resulted in consultant doctors, who work privately outside of their commitments to the NHS, spending additional hours at NHS hospitals.
And, though more Britons are paying for private health care, many are seeking more affordable treatment overseas.
A representative for the hospital said it had not been affected by the strikes.
The hospital's interim chief executive Dr Tommaso Falcone announced in February that a new outpatient building in the City of London will open in autumn this year. The 1,200 square metre extension would offer patients “fast access” to appointments with general practitioners and diagnostic services including MRI scans.
The Cleveland Clinic London will also continue to expand its collaborations with universities and medical research.
In October last year, the hospital announced a new training programme for students of Queen Mary University of London’s Faculty of Dentistry. The first cohort of nursing students from London Southbank University began in early November, 2022.
Cleveland Clinic London will also become the first private healthcare provider in the UK to have a research repository, which will collect, store and publish consented patient data. A team of cardiologists has recently been approved for a trial that focuses on the keyhole implantation of heart valve prosthesis into the tricuspid valve.
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Top investing tips for UAE residents in 2021
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.