2019 MedTech Kerrin Rennie Award goes to Medtronic

The MiniMed 670G is an insulin pump system which automatically self-adjusts to deliver people living with type 1 diabetes (T1D) precise amounts of insulin when they need it – regardless of whether they are asleep or on the go. The only technology of its type approved in Australia, the insulin pump system intuitively administers insulin as needed and also withholds insulin release when a drop in sugar levels is detected – a long-awaited breakthrough in the Australian diabetes community in their quest to better manage the chronic disease.  The system is designed to learn an individual’s insulin needs by measuring the glucose level of people living with T1D every five minutes and to take action to minimise both high and low glucose levels. As a result, the technology requires minimal input providing peace of mind for the users.

The other Awards recipients included:

  • George Faithfull, Stryker VP of Government & Regulatory Affairs – Outstanding Achievement in MedTech;
  • Steven Flynn, Baxter Healthcare ANZ MD – Women in MedTech Champion (individual); and
  • Baxter Healthcare – Women in MedTech Champion (company).

The Outstanding Achievement Award is open to individuals who have contributed in a significant way to the development of the medical technology industry through improvement to patient outcomes or excellence in leadership and innovation.

This year, George celebrates 35 years at Stryker – an incredible achievement. This award recognises the significant contribution he has made to the MedTech industry, locally and globally over his 35 years of service.

George started his MedTech career working for Howmedica in 1984 where he held various positions across Sales, Marketing, Clinical Research and R&D, eventually progressing to General Manager. Over the years, George has hired a number of people into the MedTech Industry who have since gone on to hold senior positions for various medical companies and had a big impact on the MedTech industry themselves. During his time in the MedTech Industry, George has been passionate about learning and promoting the use of science and technology to improve patient outcomes. George has presented extensively on Regulatory requirements around the world, at Universities, Scientific meetings and Government Forums, and published papers on Joint Replacement Wear and Bone Substitute Materials.

Women in MedTech (WiMT) is a Board led initiative which started in July 2015 in response to the gap of women in leadership positions across the industry. The Women in MedTech Champion is awarded to an individual or a company who has contributed to advancing the WiMT goals, and was this year awarded to Steven Flynn, GM ANZ of Baxter Healthcare. Steve Flynn has actively championed the WiMT Agenda, serving as a Mentor within the MTAA Mentoring program which provides opportunities for female MTAA members to access leaders to assist in achieving their career goals supporting women to unlock their full potential.

The Women in MedTech Company Champion was awarded to Baxter Healthcare. For the fourth consecutive year, Baxter Healthcare was once again named among the top 100 companies in Australia for gender equality. The Australian Government’s Workplace Gender Equality Agency cited Baxter as an Employer of Choice for Gender Equality.

Baxter is committed to benchmark metrics on the ratio of women with its Senior Leadership Team in Australia currently 7 women and 11 men.

 Ian Burgess, Chief Executive Officer of the Medical Technology Association of Australia said:

 “The MTAA Annual Industry Awards are an opportunity to recognise our members and individuals who have contributed to improving patient outcomes through MedTech.

“This year we received a record number of entries, a clear indication of the hard work and innovation that goes on every day in the MedTech industry.

“It’s inspiring to be part of the medical technology industry that every day is focused on improving the health and wellbeing of patients.”

MedTech 2019 Sneak Peek

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Marene Allison, Chief Information Security Officer, Johnson & Johnson, Worldwide Vice President Information Security & Risk Management

Marene Allison is responsible for protecting Johnson & Johnson’s Information Technology (IT) systems and data worldwide through elimination and mitigation of cyber security risk. This includes ensuring that the information security posture supports business growth objectives, protects public trust in the Johnson & Johnson brand, and meets legal/regulatory requirements. With 265 companies in over 60 countries, Johnson & Johnson is a leader in consumer health, pharmaceutical products, and medical devices worldwide.

Marene will provide an overview of the global landscape for cyber security and also the impacts on healthcare more specifically, focusing on where it relates to medical devices and more importantly on software for medical devices.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/4″][vc_single_image image=”4053″ img_size=”full”][/vc_column][vc_column width=”3/4″][vc_column_text]

Adjunct Professor John Skerritt, Deputy Secretary for Health Products Regulation, Department of Health

Adjunct Professor John Skerritt joined the Department of Health in May 2012 and is currently the Deputy Secretary, Health Products Regulation Group. As a Deputy Secretary, he contributes to the stewardship of Australia’s health system, as well as having direct responsibility for both the Therapeutic Goods Administration and the Office of Drug Control.

TGA’s 2019 Action Plan released earlier this year articulates the Australian national regulator’s strategy to strengthen and improve the regulatory regime for medical devices in Australia. Public consultations on proposed changes to regulations and regulatory guidelines have progressed at a sustained pace, making these the most significant changes to the medical devices regulations since the introduction of the Therapeutic Goods Act 1989. Adjunct Prof John Skerritt will provide an overview of the regulatory changes and explain the implications for sponsors, manufacturers, patients and users of medical devices.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/4″][vc_single_image image=”4054″ img_size=”full”][/vc_column][vc_column width=”3/4″][vc_column_text]

The Hon Chris Bowen, Shadow Minister for Health

Chris Bowen entered Parliament in 2004 and has held a wide range of portfolios including serving as Treasurer, Minister for Human Services, Minister for Immigration, Minister for Financial Services, Assistant Treasurer, Minister for Competition Policy, Minister for Small Business and Minister for Tertiary Education. Chris has been responsible for a range of significant policy reform programs in these portfolios. He served as Interim Leader of the Labor Party and Acting Leader of the Opposition following the 2013 Federal election and served as Shadow Treasurer. He is now the Shadow Minister for Health.

The political landscape has changed dramatically over the past twelve months. Healthcare was a key battleground for the 2019 election with both parties going to the polls with significant health commitments. With the election over and the 47th Parliament now underway, Federal Shadow Health Minister Chris Bowen will join us to discuss the ALP’s priorities for health and how they plan to hold the Government to account.[/vc_column_text][/vc_column][/vc_row]

Applications open for NSW Health grant programs

The Cardiovascular Research Leader and Elite Postdoctoral Researcher Grants aim to attract elite international research leaders to NSW, to build local capacity and promote NSW as a global leader in cardiovascular research. The grants are open to researchers in biomedical and basic science, clinical research, public and population health, and health services research. Further information, guidelines and application forms are available at https://www.medicalresearch.nsw.gov.au/cardiovascular/.

The PhD Partnership Program awards funding for PhD candidates to undertake research within the pharmaceutical and biological therapeutics sectors, with joint supervision by academic and industry-based supervisors. The Program aims to build collaboration and commercialisation capacity, create new opportunities for PhD students to study the development of novel therapeutics, and produce graduates with the skills necessary to succeed in industry.

Applications for the PhD Partnership Program are invited from eligible host universities in partnership with industry. Guidelines and application forms are available at www.medicalresearch.nsw.gov.au/phd-scholarships/.

The contact person for both grants is Dr Stephanie Blows on 9461 7069 or Stephanie.blows@health.nsw.gov.au.

10 DAYS TO GO UNTIL MEDTECH19

MTAA’s annual conference is the premier medical technology industry conference in Australia and is a major event on the Australian healthcare calendar. This year’s conference, tailored to a wider audience, will feature a variety of current issues with concurrent sessions and a workshop scheduled.

MedTech19 provides a unique opportunity for industry professionals to gather and exchange ideas and insights with their peers and other leaders within the medical technology community.

This year’s conference will open with a focus on cyber security, with a keynote address from Ms Marene Allison, Chief Information Security Officer, Johnson & Johnson, Worldwide Vice President Information Security & Risk Management, who will provide an overview of the global landscape for cyber security and the impacts on healthcare.

On day two, the future of private health insurance will be discussed by a panel of experts, including Dr Andrew Charlton, Co-founder of AlphaBeta Advisers and author of Keeping Premiums Low: Towards a more sustainable private healthcare system, a report recently commissioned by MTAA.

There will also be presentations by the TGA’s Adjunct Professor John Skerritt, Shadow Health Minister Chris Bowen, and Dr Robert Hankin, CEO, Health Industry Business Communication Council and many more.

Ian Burgess, Chief Executive Officer of the Medical Technology Association of Australia said:

 “MTAA’s annual conference is the premier medical technology industry conference in Australia and brings together leaders and influencers across industry, government and academia to discuss what’s up ahead for the MedTech industry.

“MedTech19 is an opportunity to hear from senior Commonwealth officials, international industry leaders and local experts on topics ranging from cybersecurity to the future of private health insurance.

“This year’s conference will build on the success of last year’s event with more workshops and exclusive content to help you and your business navigate the challenges ahead in what is shaping up to be a big year for the industry.

“MedTech19 will provide more opportunities for networking and building valuable relationships with health industry stakeholders from across Australia and internationally.”

ACCC SUES MEDIBANK

Medibank has been accused of telling their customers who made claims on their “Lite” or “Boost” policies that they were not entitled to cover for joint investigations or reconstruction procedures, when in fact their policies covered these procedures.

ACCC Chair Rod Sims alleges that Medibank incorrectly rejected claims or eligibility enquires from over 800 members for benefits that they were entitled to and were paying for.

“As part of our case, we estimate about 60 members needlessly upgraded their policies so they could access the joint investigation and reconstruction procedures they were already entitled to under their existing, cheaper insurance policies,” Mr Sims said.

Medibank responded to the ACCC proceedings in a media release confirming that in 2017 the company discovered that not all Medicare Benefits Schedule (MBS) item codes applicable to the Lite and Boost products were entered into its claims assessment system, which caused the “error”.

In 2018, Medibank voluntarily notified the ACCC of the error and contacted around 130,000 customers who were insured by the Boost and Lite products and paid out $745,691 to 175 of the affect customers.

Medibank’s ahm Senior Executive, Jan O’Keefe, apologised unreservedly to customers who had been “impacted by the error”.

“We believe the approach we have taken to be transparent with all post and current Lite and Boost customers about the issue, the way we have implemented a compensation program and how we have engaged proactively with the ACCC, reflects our commitment to do the right thing,” Ms O’Keefe said.

The ACCC case against Medibank follows a flow of negative press for the industry, including NIB boss Mark Fitzgibbon’s call to abolition Medicare which was met with fierce public backlash.

Medibank is a member of the health insurance lobbying group Private Healthcare Australia, which has attempted to shift the blame to other sectors of the health system for the continued increases to the cost of health insurance premiums.

After tax profits for private health insurers, including Medibank, are up 15% over the past three years as the cost of health coverage for Australian families continues to soar.

MedTech Innovator Announces Winners

Both Crely Healthcare and Kesem Health now advance to the 2019 MedTech Innovator Asia Pacific Showcase Program, featuring 20 best-in-class startups from the Asia Pacific region developing transformative medical solutions to improve the lives of patients.

MedTech Innovator launched its Asia Pacific Program this year in partnership with Asia Pacific Medical Technology Association (APACMed) to accelerate the growth of the most promising medical device, digital health, and diagnostic startups in the region. The first regional pitch event was held July 31 in Tokyo, the Sydney event was held August 5, and pitch events will also be held this month in Singapore on August 22 and Shanghai on August 27.

Singapore-based Crely Healthcare was voted the International Travel Award winner. The company has developed a medical device-enabled SaaS platform to improve surgical outcomes. Early warning for surgical site infections leads to timely intervention and better health outcomes for patients. As the International Travel Award winner in Australia, in addition to advancing to present in the MedTech Innovator Showcase in Singapore, Crely’s travel expenses and registration will be covered to return to Sydney for the MTAA MedTech19 Annual Conference on September 19-20. Travel expenses will graciously be provided by our regional partner IDE Group.

“MedTech Innovator is truly outstanding in supporting innovators like us and has provided a wonderful platform for innovations that transform healthcare. The Crely team is very excited and grateful for the opportunity to present their medical device enabled platform in the MedTech Innovator Asia Pacific Showcase in October,” said Arun Sethuraman, Founder & CEO of Crely Healthcare.

Kesem Health was voted the Australian Travel Award winner. The company is a connected health startup improving the convenience, accuracy and validity of data in support of the diagnosis and management of urological conditions. It produces a fully automated, easy-to-use bladder monitoring solution, implemented on a smart phone platform called iUFlow. As the Australian Travel Award winner, Kesem will advance to present in the MedTech Innovator Showcase at the Asia Pacific MedTech Forum in Singapore, and their travel expenses will be covered by IDE Group. MTAA will also be covering registration for the company at the MTAA MedTech19 Annual Conference.

“Winning the MedTech Innovator Travel Award is special. MedTech Innovator is world-renowned for their program with medical device, digital health and diagnostic startups. In Australia specifically, their ability to put together the esteemed judging panel demonstrates the calibre of their program and their capabilities. We are confident that the program will support Kesem Health’s continued progress in the commercialization of our novel technology,” said CEO Gil Hidas.

Crely Healthcare and Kesem Health will receive mentoring by MedTech Innovator’s Asia Pacific corporate collaboration partners including Johnson & Johnson Medical Devices Companies, Amgen, Boston Scientific, JOHNAN, Olympus Medical Systems Group, and Terumo. The companies are also two of 20 semi-finalists competing for four spots in the 2019 Grand Finals competition at the MedTech Forum, with up to $300,000 in non-dilutive cash prizes and awards.

“We are pleased that Crely Healthcare and Kesem Health were chosen by regional industry leaders to receive the Travel Awards to support these companies in their important mission to improve the lives of patients,” said Jenell Robinson, VP Clinical Value and Provider Relations of MedTech Innovator and Head, MedTech Innovator Asia Pacific. “Our goal in MedTech Innovator Asia Pacific is to find the most promising startups from across the Asia Pacific region and to give them access to our industry-leading corporate partners and world class ecosystem. We aim to ensure that their transformative health technologies reach patients and improve lives.”

Over 170 companies applied for the Asia Pacific program, and eight startups were selected to participate in the Tokyo pitch event. Each company presented in front of a panel of industry judges and an audience of more than 250 attendees. Startups had the opportunity to network with MedTech Innovator’s partners and to pitch their products, business plans, and value propositions to the judges. The judges included:

  • Paul Braico, Boston Scientific
  • Ian Burgess, Medical Technology Association of Australia (MTAA)
  • Kathy Connell, Johnson & Johnson Innovation (Janssen-Cilag Pty Ltd)
  • Rebecca Cortiula, Terumo
  • Erin Currie, Olympus
  • Ann Damien, Cook Medical
  • Patrick Flanagan, Design + Industry
  • David Fox, Newcastle Innovation
  • Gary Jones, Fledge Innovation Labs
  • Jeff Malone, Design + Industry
  • Alfredo Martinez-Coll, MTP Connect
  • Anne O’Neill, NSW Health
  • Buzz Palmer, MedTech Actuator
  • George Sidis, IDE Group
  • Jamie Stanistreet, BioConnexUS
  • Elane Zelcer, Australian Government
  • Stephen Thompson, Brandon Capital

Startups selected to present in the MedTech Innovator Sydney pitch event included:

Since 2013, MedTech Innovator has reviewed more than 3,000 startups and graduated 185 companies that have gone on to raise more than $1 billion in follow-on funding and bring 37 products to market. MedTech Innovator’s 2019 Asia Pacific program sponsors include Johnson & Johnson Medical Device Companies, Amgen, Boston Scientific, JOHNAN, Olympus Medical Systems Group, and Terumo. Regional sponsors for the Tokyo pitch event are Link-J and Johnan. The MedTech Innovator Asia Pacific Program is held in partnership with the Asia Pacific Medical Technology Association (APACMed).

Medtronic Announces Planned Leadership Succession

As a result, the Medtronic Board of Directors announced key leadership appointments as part of its multi-year, leadership succession planning process, which will ensure a smooth and successful transition in leadership across the company.

The Board of Directors has unanimously appointed Geoff Martha, currently Executive Vice President (EVP) of the company’s Restorative Therapies Group (RTG), to assume the newly created role of Medtronic President and become a member of the Medtronic Board of Directors, effective November 1, 2019.

Martha will succeed Ishrak as Medtronic CEO, effective April 27, 2020. As President, Martha will lead Medtronic’s operating groups and regions. Brett Wall, President of Medtronic’s Brain Therapies division, was appointed EVP and Group President of RTG, succeeding Martha, effective November 1, 2019.

At the start of Medtronic’s next fiscal year, on April 27, 2020, Ishrak will assume a new position of Executive Chairman, which will provide counsel and guidance to Medtronic’s leadership, oversee CEO succession, and drive the ongoing successful execution of Medtronic’s long-term strategic plan. These changes are designed to ensure a smooth transition, continuity of leadership and a continued focus on delivering Medtronic’s innovation strategy and financial performance.

“Today, we announced leadership changes that meet both the Board’s objective of executing a thoughtful leadership transition as well as my personal desire to begin transitioning my duties as CEO to a new leader coinciding with the start of our next fiscal year,” said Ishrak.

“This plan and its timing enable Geoff and I to partner on achieving Medtronic’s key financial performance goals as well as delivering on our critical pipeline milestones, including several important product launches.

Leading Medtronic as CEO is an honor and a privilege, and I know that Geoff is the right leader to take Medtronic to the next level of its growth and evolution.

Geoff is a results-oriented, dynamic, and innovative business leader who is passionately committed to our Mission, the advancement of our growth strategy and the development and diversity of our people. I am confident he has the right track record, commitment, vision and judgment to lead our company.”

“As Omar approaches the company’s mandatory executive officer retirement of 65 years of age next year, we have ensured Medtronic has the right leadership at the right time to advance its Mission and deliver shareholder return through a seamless transition,” said Scott Donnelly, Medtronic’s Lead Director, and Chairman, President and CEO of Textron, Inc.

“The Board is extremely grateful to Omar for his outstanding leadership – as the company’s annual revenues have doubled and its market capitalization has increased by more than $100 billion during his tenure. We are confident Omar’s contributions to Medtronic will continue as Executive Chairman. The Board’s succession planning process prioritizes developing leaders from within the company, and we are pleased that we could advance Geoff and Brett for these roles. During his time at Medtronic, Geoff has demonstrated his unique ability to lead, innovate and drive results, and the Board has full confidence in him and his ability to take Medtronic into its next chapter of growth.”

“I’m humbled and grateful for the opportunity to lead such an amazing company,” said Martha.

“Since coming to Medtronic, I have been deeply motivated and inspired by the company’s Mission, its people and its unique ability to create and commercialize technology that directly improves and saves people’s lives. I thank Omar and the entire Board for their vote of confidence in selecting me as President and as the company’s next CEO. I know that with the support and dedication of my Medtronic colleagues around the globe, we can continue to deliver new levels of performance for patients, customers and healthcare systems we serve – and for our shareholders and business partners.”

Stryker Strikes Again: Awarded Australia’s Best Place to Work 2019

Stryker has achieved and maintained Australia’s best workplace title by connecting people, culture, work and growth. The company is dedicated to an employee’s journey, focusing on how to understand and treat all candidates and employees as individuals.

Stryker’s focus on treating employees as individuals has consistently remained a key priority and helped enabled successful growth. In the past five years, Stryker’s employee headcount has doubled in Australia and New Zealand.

Instead of following a traditional competency-based development approach, Stryker takes a strengths-based philosophy to help people grow and is dedicated to aligning a potential candidate’s talents to a role, not just focusing on their previous experience.

Erin Cramlet, Senior Director, Human Resources, Stryker South Pacific said, “Developing natural talents into strengths is part of the Stryker DNA. We want to hire people who will have long and successful careers with us, so we choose to invest the time to really get to know our potential candidates. When we find the right person, we help the candidate to identify their strengths and adapt roles to fit the individual. We harness our employees’ natural talents and build their skills through ongoing learning opportunities, so our people are empowered to do what they do best.”

Once onboarded, Stryker motivates its workforce by continuing to focus on the individual and offers personalised engagement and  development opportunities.

“People at Stryker are given a great deal of support and freedom to learn, grow and develop, but the onus is on the individual to make it happen. We encourage people to own their development and to drive change when they see opportunities to improve this,” said Cramlet.

Stryker’s approach to talent acquisition is unique and has been critical to Stryker’s strong growth and ongoing success. Stryker is determined to stay on this path of success and will continue to find ways to improve life at work for its employees, thinking beyond work perks and focusing on the day-to-day work experience.

“At Stryker, we challenge ourselves and each other to achieve more. We are aligned and ambitious, and every person in our organisation can connect their role to our bigger purpose: to make healthcare better for our customers and their patients.

“We believe that creating a great place to work hinges on making work meaningful and giving people a sense of belonging, trust and  elationship. We purposefully attract people who will genuinely feel rewarded by the work we do. We are proud to say, every person in our organisation, regardless of their role, can connect what they do to a bigger purpose,” continued Cramlet.

This is the 12th Annual Edition of the Best Places to Work benchmarking study in Australia. The success of the Best Places to Work Australia publication is a testament to Australian organisation’s willpower and innovation to retain happy, engaged, loyal, high performing workforces.
The study conducted is based on one of the world’s most comprehensive studies of workplace culture by Great Place to Work Australia.

“It is companies such as Stryker which will not only retain but also attract the most committed and engaged team members during this tight labour market period. Being named one of the Best Places to Work provides organisations with a fantastic opportunity to actively promote their hard work and success and further increase their exposure,” said Zrinka Lovrencic, MD of Great Place to Work Australia.

The 2019 Best Places to Work was published in a feature insert in the Australian Financial Review and www.greatplacetowork.com.au on Wednesday, 28 August, 2019.

DEVICE COSTS GO DOWN AS INSURER PROFITS GO UP

[vc_row][vc_column][vc_column_text]According to APRA figures, MTAA’s Agreement has already saved insurers $314 million and is on track to exceed the $1.1 billion in expected savings.

“The medical devices industry has made the only direct contribution to keeping the cost of private health insurance down, delivering the lowest premium increase in 18 years,” said Ian Burgess, CEO of the Medical Technology Association of Australia (MTAA) today.

“The cost reductions are a direct result of the $1.1 billion dollars in cuts delivered by MTAA through the Agreement and demonstrate MTAA’s active contribution to the affordability of healthcare in Australia,” Mr Burgess said.

Meanwhile, insurer profits continue to increase, with NIB reporting a 9.2 per cent increase in annual profit yesterday to $201.8 million, with a share price increase of 31 per cent over the past six months, and Medibank Private’s share price up 16 per cent.

“After tax profits for insurers are up 15% over the past three years as affordability for ordinary Australian families goes down,” Mr Burgess said.

“The suggestion that an increase in use of medical devices by privately insured patients is somehow a negative is a clear demonstration that the private health insurers have lost focus on consumers.”

Volume increases are being driven by an ageing population, an increase in chronic disease and the growing demand for new treatments due to the benefits provided by medical devices.

“Patient and clinician choice is a key part of the value proposition of private health insurance, one that risks being eroded by the false claims made by insurers about the cost of devices,” said Mr Burgess.

“The medical technology industry believes access to a full range of medical technology is one of the key benefits of having private health insurance and we’re committed to helping ensure all Australians lead healthier and more productive lives,” Mr Burgess concluded.[/vc_column_text][/vc_column][/vc_row]

Keeping Premiums Low: Towards a sustainable private healthcare system

[vc_row][vc_column][vc_column_text]“The medical device industry has already delivered $1.1 billion in savings to private health insurers – here’s four ways that another $1 billion can be saved,” Mr Burgess said.

According to APRA figures, MTAA’s Agreement with the Government has already saved insurers $314 million and is on track to exceed the $1.1 billion in expected savings.

APRA data shows that over the last three years, the average benefit paid per device has decreased by 15%, while health insurer profits have increased by 15%.

“MTAA welcomes Health Minister Greg Hunt’s commitment to work with industry to improve the viability of our private healthcare system through existing and new reforms,” said Ian Burgess, MTAA CEO today.

 “This report outlines a range of collaborative sector-wide measures that can be taken to ensure the ongoing sustainability of our private healthcare system.”

Insurers have collected 50% more profit from each of their members over the past five years, far outpacing the 21% growth in benefits paid out. Operational costs have also grown more quickly than benefit payouts, growing at 28%.

Direct constraint of premium growth by high performing health insurance funds, while still allowing continued profit growth, could save $210 million in premium increases for consumers.

Private health funds have not extracted sufficient economies of scale in the wake of significant revenue growth and many funds are well above the industry average of 9% in operational expenditure, this includes an estimated marketing spend of $400 million. Efficiencies in this area could save $210 million.

The need to address operating efficiency was recently acknowledged by Craig Drummond, CEO of Medibank Private.

“For both short and longer-term sustainability of the private healthcare system, optimising models of care will be critical,” said Mr Burgess.

Specific measures such as reducing readmissions, promoting care in the community and reducing overtreatment of patients could deliver $290 million worth of savings towards reducing premiums.

Another $250 million worth of savings could be found through reshaping the allied health offering to exclude therapies for which there is no clinical evidence base.

“In the longer-term, medical technology will be crucial to improving healthcare outcomes and system efficiency,” Mr Burgess said.

“Increased uptake and better funding pathways for emerging technologies such as telehealth, at-home patient monitoring apps and remote diagnosis will help drive better patient outcomes and lower costs.

“’This report proposes a sensible path to reform, with a range of short and longer-term savings and structural solutions.

“On one hand, insurers are patting themselves on the back for skyrocketing share prices, on the other they’re desperately looking to others for solutions, as recently called out by APRA, and even proposing to abolish Medicare.

“We have one of the best healthcare systems in the world, and it is up to all stakeholders to work together to continue to make it better,” Mr Burgess concluded.

The AlphaBeta report can be read here.

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