Medibank CEO Craig Drummond has welcomed the Minister for Health’s announcement today on the first stage of reforming the prostheses list.
“Medibank will return every dollar of these savings to our customers. This means better health outcomes at a more affordable cost. For our customers this will be reflected in Medibank's premium submission to the Federal Government later this year,” Mr Drummond said.
"This is an important first step in private health reform, and Medibank is working productively with the Federal Government to develop a reference pricing system using domestic and international benchmarks.
“To improve value for our customers we will continue to collaborate with all sectors of the private health system to reduce inefficiencies and continue to offer our customers access to high quality health care at more affordable rates.
“The reforms announced today will assist us to keep premiums affordable and provide better value private health insurance in an environment of rising health needs and costs. More will have to be done, and we will make a constructive contribution as part of that reform process."
In 2015-16, Medibank spent $5.1 billion on behalf of our customers for their hospital and extras claims. We covered more than 1.3 million hospital admissions and more than 500,000 surgeries.
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- More information on the Federal Government's announcement is available on the Department of Health's website.