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Germany – Healthcare Wage Agreement
Wage agreement in hospital sector - substantial rise in doctors pay towards private sector levels On Aug 17 - following an 8 week strike - German hospital doctors achieved a pay rise of up to 4 % (compared to the current contract of federal employees). For the local public authorities, usually in charge of hospitals, the effective cost increase is more substantial – up to 13% – since they remunerated the doctors according to their (lower) civil servant pay scale. The agreement is seen as a victory for the doctors’ representative body “Marburger Bund” – over both the public sector employers and the trade union ver.di, who had hoped to become the main employee representation for the doctors. Formal recognition of the Marburger Bund as the doctor’s representation goes against the centralisation of the trade unions and might set a new trend.
Asset conclusions: no general market impact, some privately run hospital shares could benefit from public hospitals losing competitiveness.