Reducing wasteful healthcare spending
Urgent reforms needed to protect Australia’s health system in a COVID-19 world
In recent years, Australia’s health care system has been weakened.
Increasing pressure on the public sector, lower rates of private health insurance membership and increasing costs of health care across the public and private sector are putting Australia’s unique public/private health system at risk.
Australia’s health system needs bold reforms to restore the balance between its public and private arms.
Medicare + strong private health sector = Australia’s world class healthcare system
We have identified several key issues that need to be addressed by the Australian Government in the 2021/22 Budget, to decrease costs and improve the affordability of healthcare for Australian families.
Prosthesis List Reform
Medical device prices in Australia are the highest in the world.
In Australia, the Government’s Prostheses List set the prices for more than 11,000 items including medical devices like screws and stents used on common surgical procedures like knee and hip replacements.
Private health funds are required to pay a set price for items on the Prostheses List regardless of quality, efficacy, efficiency or safety. The same item in the UK or New Zealand can be $100s or even $1000s of dollars less.
Australian consumers pay more and medical device companies pocket excessive profits.
We have developed a blueprint for reforming prostheses funding in Australia, which redistributes these excessive profits from multinational medical device companies to Australian doctors, Australian hospitals and Australian families. Private health funds have committed to passing on any savings from these reforms to consumers as a reduction in health insurance premiums.