Alfred Cannan says his government is 'getting to grips' with the issue
The chief minister says government needs to get healthcare funding 'under control' so that 'proper conversations' can be had 'in a calm environment'.
Manx Care has faced increased pressure this year to come in on budget.
This week the first doctors' strike in the history of the Isle of Man was put on hold after a deal was found 'at the eleventh hour'.
Mr Cannan was speaking in front of more than 160 representatives from across the business community at a Chamber of Commerce event, held at the Comis Hotel, on Friday 17 January.
Also present was Deputy Chief Minister and Minister for Justice and Home Affairs Jane Poole-Wilson.
Her address focussed on continued work by her department 'to ensure that those who seek to exploit our Island are identified and intercepted':
Elsewhere Enterprise Minister Tim Johnston spoke about the proposed changes to minimum wage on the Island.
You can read more here.
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