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George Savvides


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Published in: Economy & Finance, Business
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George Savvides

  1. 1. The future of private health insurance
  2. 2. Medibank today 2 Products & services PHI, travel insurance, life cover, pet insurance, health management services, telephone and online health and wellbeing services. Customers 3.8 million PHI customers, state and federal governments, area health services and district health boards, corporate clients, 300,000 overseas students and visitors. Service delivery 188 points of presence including 99 retail centres, 46 agencies and 43 clinics. More than 2 million telephone and online triage and care management per annum. Employees (headcount) 4600 staff across all divisions and subsidiaries, including almost 1800 clinical staff.
  3. 3. The future of private health insurance … what do our customers want? 3
  4. 4. 70% of this group have underlying chronic disease Too often the focus is all about costs
  5. 5. Customers want their private health insurance to give them four key things Value Simplicity Flexibility Relevance
  6. 6. The ‘ideal’ health insurance is focused on flexibility, simplicity, relevance and value
  7. 7. The ‘ideal’ health insurance is focused on flexibility, simplicity, relevance and value Cover for the things that keep me happy, healthy and functioning Finding out about healthy living to stay healthy and not use healthcare Being able to choose the features that are relevant to me today I want to be covered for all family members and for all impacts from ill health Being rewarded for not having to use healthcare all the time See the person I want, when I want, with the same level of benefit Knowing what I am up for, up-front Being covered for the full expense, not gap, no payments on the day
  8. 8. And private health insurance becomes especially important when customers are managing major life changes ... Once I had kids, I realised that we all needed the best protection… You just don’t want to be left managing the unknown …
  9. 9. Customers view health insurance differently to other insurances ... there is an expectation it will provide a better standard of healthcare NON-HEALTH INSURANCE  If your possessions are lost or damaged insurance compensates you for it.  This type of insurance is all about keeping the status quo/not losing anything. PRIVATE HEALTH INSURANCE  Health is a personal and individual thing – there are many shades of grey.  Health insurance is about protecting and looking after myself.  Health insurance is about getting a better and more superior healthcare outcome.
  10. 10. Private health insurance should allow me to look after my health as I choose … Reduce the burden on the public system To provide quicker access for some non-emergency services … To provide greater financial coverage for some medical / health services To provide better quality healthcare experiences (non-medical)
  11. 11. Customers wanted us to help them with their health A new service; a change in how we interact with our members. The first integration exercise - insurance and health solutions.
  12. 12. The Effect
  13. 13. The healthcare challenge
  14. 14. …while our ability to pay is reducing Source: IGR2010
  15. 15. The Effect Significant change possible through better intervention… Cost at current health system trajectory Healthy and productive population …but with behavioural modification and better management
  16. 16. Medibank’s purpose has changed from health insurance to health assurance Health Solutions For Bet er Health PrivateHealth Insurance Total Health t
  17. 17. Building an integrated health business structure ‘The Medibank Effect’ Private Funding MedibankPrivate Private Funding
  18. 18. Building an integrated health business structure ‘The Medibank Effect’ Private Funding MedibankHealthSolutions MedibankPrivate Private Funding Public Funding
  19. 19. Building an integrated health business structure ‘The Medibank Effect’ Private Funding Public Funding MedibankHealthSolutions MedibankPrivate Private Funding Building new gateways New healthcare platforms New models of care A network of trusted providers
  20. 20. Reduced costs Better patient outcomes and experience Contracted Provider Networks
  21. 21. Gateway Navigation and Referral Increased efficiency Access to the right care At the right time
  22. 22. New Healthcare platforms … Anywhere Healthcare Today is suddenly a much better place
  23. 23. Integrated care co-ordination… A more efficient process 1. Continuity of care across secondary and primary sectors 2. Continuity of patient information and support 3. Co-ordination of providers “Care Team”
  24. 24. Self navigating the system
  25. 25. Random care
  26. 26. Random care
  27. 27. Coordinated care The Effect
  28. 28. Coordinated care
  29. 29. Future: Integrated health system (eg ADF)
  30. 30. One telehealth nurse can support over 6,000 patients 30
  31. 31. Dental and Optical clinics Telephonetriage Diseasemanagement and health coaching Immigration / Visa Medical anywhere> <healthcare AnywhereHealthcare WorkplaceHealth Garrison Health Travel Doctor MHSand PNICbusinesses: Now Medibank members are seeing the benefits of integrated health services 31
  32. 32. A healthcare system for the future Patient and care team Individual care plan Focus on diet, exercise and healthy behaviours Patient has responsibility for their own health
  33. 33. Thank you. Any questions?