Mark Fitzgibbon, NIB Health Fund Ltd - Medical Travel – Another Story of Globalisation

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Mark Fitzgibbon, CEO & Managing Director, nib health fund limited delivered this presentation at the 15th Annual Health Congress 2014. This event brings together thought leaders and leading practitioners from across the Australian health system to consider the challenges, implications and future directions for health reform.

For more information, please visit http://www.informa.com.au/annualhealthcongress14

Published in: Health & Medicine
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Mark Fitzgibbon, NIB Health Fund Ltd - Medical Travel – Another Story of Globalisation

  1. 1. Medical Travel and a Flat Earth Health Congress 24-25 March 2013 Mark Fitzgibbon Chief Executive Officer/Managing Director
  2. 2. Overview 1. Why people are increasingly travelling across international borders for medical treatment. 2. How nib views the opportunity. 3. The “nib Options” business model. 4. Australia as part of a borderless, global supply chain.
  3. 3. People are travelling because 3 • Rising cost of domestic healthcare. • Search for higher quality. • Advances in technological and access to information. • Lower transport costs and language/cultural barriers. • Trade liberalisation and active government encouragement. • Social considerations.
  4. 4. How nib views the opportunity 4 • Globalisation is seeing an acceleration of medical treatment across international borders. • Current mechanisms for facilitating this demand and assuring quality supply are largely fragmented and underdeveloped. • nib has a brand, sales force, distribution and experience/expertise in contracting with doctors, hospitals, dentists and other clinical providers. • There is an immediate domestic opportunity in respect of cosmetic treatment as demand is growing and there are few companies providing high quality products/service and safety assurance. • nib believes this demand can be met through a combination of a “borderless” domestic and international offering.
  5. 5. The “nib Options” business model 5 • Value proposition centres upon trustworthiness, safety assurance, after care promise and choice. • nib has contracted with a network of domestic and international hospitals, doctors and dentists to delivery product. Only hospitals that meet clinical quality standards and doctors who have been individually credentialed have been engaged. • We have and will only contract with specialist plastic surgeons (no “cosmetic” surgeons). • Treatment will be sold as a “fee for service” packaged product with surgical, anaesthetist, hospital and “aftercare promise” fully bundled into a fixed cost. Overseas option includes bundling of travel, accommodation and related costs. • Sales are made by telephony supported by website. • Quality is assured by clinical governance framework and credentials of all hospitals (JCI) and doctors (via MAC). • In due course, nib intends to facilitate medical treatment and sell product into foreign markets (e.g. Indonesia and China) expanding its network as demand grows and business model develops.
  6. 6. Australia as part of a global supply chain 6 • Australia has a natural comparative advantage in healthcare. We have an educated population and a highly developed quality healthcare system. • A rising middle class in Asia will see escalating medical travel. Australia has the potential to cater for much of this demand and specialist medical treatment (especially plastic surgery, orthopaedic, IVF) can become a major export earner. • nib Options will help facilitate the matching of foreign demand with Australian supply and promote Australia’s place as an expert high quality medical destination.
  7. 7. www.niboptions.com.au 7

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