Author: Team

WORLD SUICIDE PREVENTION DAY

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[vc_row][vc_column][vc_column_text]Each year, Tuesday 10th September, marks World Suicide Prevention Day, and in Australia, R U OK Day. It’s an important occasion to shine a light on what Prime Minister Scott Morrison calls a “curse of suicide on our country”.

Joined by Shadow Minister for Health, Chris Bowen, the Prime Minister spoke at a World Suicide Prevention Day breakfast in Parliament House on Tuesday, reinforcing the bipartisan approach the government and opposition has taken to tackle youth suicide, and suicide more generally.

“It does involve doing everything in our power that we can think of to help Australians who are at risk to come out of the shadow of suicide and to be able to see brighter and better days,” Mr Morrison said.

“To have care and support of family and friends of community of the person sitting next to you on the bus or the train or whatever it is, and to simple be able to extend that hand of support so people know that they are not alone.”

Suicide is the leading cause of death of our young people – accounting for one-third of deaths of Australians aged 15-24. The traffic impacts are event higher in Indigenous communities.

The Prime Minister has made suicide prevention a key issue for his first term, leading a change in the way Australians and Australian governments think about suicide prevention. Recognising that social, financial, legal, family, health and mental health factors may all play their part, the Morrison Government is elevating suicide prevention to a national, whole-of-government priority.

The Prime Minister took to social media to respond to an outpouring of stories and messages[/vc_column_text][vc_row_inner content_placement=”middle”][vc_column_inner width=”1/6″][/vc_column_inner][vc_column_inner width=”2/3″][vc_raw_html]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[/vc_raw_html][/vc_column_inner][vc_column_inner width=”1/6″][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]

Applications open for NSW Health grant programs

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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

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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

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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.

What are the four ways we can keep private health insurance premiums lower?

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Australia’s private health insurance system is under strain. Despite government efforts to encourage more Australians to take up private health insurance, rising premiums and policy changes have driven membership numbers to 11-year lows.

Hospital benefits and allied health benefit payments have contributed most ($4 billion) of the $5 billion increase in benefits payments since 2013. Medical device benefits and surgeon benefits have driven a much smaller portion of overall growth in benefit payments. At the same time, PHI fund operating expenditure and margins have grown relative to payouts.

The medical device industry has been the sole contributor to reducing cost pressures on PHI premiums, through the 2017 Agreement with Minister Hunt. Devices have not been a key driver of premium increases, with the benefit paid per device declining 1% p.a. over this period. Devices represent only 9% of premium revenue growth since FY2013, with growth in device benefits driven entirely by demand.

The report identifies four specific buckets of savings that combined could put downward pressure on premiums in the order of $1B by 2022:

  • Streamline insurer opex
  • premium restraint from the most profitable providers
  • optimise models of care
  • reshape the allied health offering

Over the last five years, insurers have collected 50% more profit from each of their members. This has far outpaced the 21% growth in benefits paid out. Operational costs have also outpaced benefit payouts, growing by 28%.

If top performing private health insurance funds constrained their premium growth directly – while still sustaining profitability, $210million can be saved 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. Marketing alone is estimated to be $400m, which is 18% of operating expenses. With improved efficiencies, such as through consolidation of smaller funds, $210million can be saved.

Policy levers such as reducing the number of potentially preventable hospitalisations (PPH), reducing overtreatment of patients, promoting care in the community and reducing readmissions can provide a $290m saving to private health insurance premiums.

Optimising models of care is important for short term savings, and critical for the longer-term sustainability of the health system.

For example, there are a number of measures that have proven to substantially reduce the incidence of falls in the elderly (removing rugs, regular exercise, vitamin and calcium supplements), which are a significant contributor to PPH.

Reshaping allied health to deliver better value for consumers can generate $250m worth of savings. The Federal Government has already implemented reforms which exclude ‘natural’ therapies for which there is no evidence of medical benefit. Insurers could continue to tighten the rules around benefit payouts for alternative therapies for which there is no evidence base.

Medical technologies can improve preventive and primary care greatly improve healthcare outcomes while also reducing costs. Telehealth, remote diagnosis, patient monitoring apps and even advances in home movement monitoring for ‘at risk’ patients can all reduce costs to the system. Many of these devices are not covered by private health insurance and there is often no consistent public funding pathway to facilitate widespread adoption.

MedTech Innovator Announces Winners

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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

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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

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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.

EDWARDS SAPIEN 3 TAVR RECEIVES FDA APPROVAL FOR LOW-RISK PATIENTS

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[vc_row][vc_column][vc_column_text]The heart valve systems are used to treat severe, symptomatic aortic stenosis (AS) patients who are determined to be at low risk of open-heart surgery.

Speaking after the approval, Director of the Centre of Interventional Vascular Therepacy at New York-Presbyterian/Columbia University Medical Centre, Martin Leon, said the “FDA approval of SAPIEN 3 TAVR will expand access across this proven therapy, which should be considered the preferred treatment for the majority of low-risk severe AS Patients.”

The SAPIEN 3 TAVR’s low-risk approval was base on data from the landmark PARTNER 3 Trial, an independently evaluated, randomised clinical trial comparing outcomes between TAVR and open-heart surgery. TAVR with the APIEN 3 system achieved superiority, with a 46 percent reduction in the event rate for the primary endpoint of the trial, which was a composite of all-cause mortality, all stroke and rehospitalization at one year.

The data were presented in March at the American College of Cardiology’s 68th Annual Scientific Session and simultaneously published in the New England Journal of Medicine.

Edward’s corporate vice president for transcatheter aortic valve replacement, Larry Wood, said severe AS was a debilitating disease that often goes undiagnosed and undertreated.

“This approval is a significant milestone and will allow all patients diagnosed with severe AS to be considered for TAVR based on their individual preferences and anatomical considerations versus traditional risk scoring,” Mr Wood said.

The SAPIEN family of transcatheter heart valves have treated hundreds of thousands of patients worldwide since 2007, when the SAPIEN valve was first commercially approved in Europe. The SAPIEN 3 TAVR system builds on Edwards’ decades of experience in the development of tissue heart valves, and the proven benefits of the Edwards SAPIEN valves. This low-risk approval covers the SAPIEN 3 and SAPIEN 3 Ultra valves in all sizes.[/vc_column_text][/vc_column][/vc_row]

DEVICE COSTS GO DOWN AS INSURER PROFITS GO UP

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[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]