Author: Team

THE BIG SWITCH

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Why are people changing?

  • According to a YouGov Galaxy research study commissioned by iSelect, approximately 1 million Aussies have decided to cancel their health insurance, with another 4 million planning to make the switch to a cheaper policy or reduce their coverage.
  • According to iSelect, the average cost of private health insurance premiums is set to rise again by 3.25% on April 1 – an average increase of 26% over the last five years.

What has caused the shake-up?

  • You may not know, but April 1 is also the date the Commonwealth Government’s new health reforms com into effect. iSelect say the reforms, including the recategorisation of policies to Gold/Silver/Bronze/Basic tiers, are the biggest shake-up to Australia’s private health insurance industry in more than a decade.
  • The study also revealed concerning levels of confusion among Aussies with health policies, with almost 7.2 million of Aussie policy holders describing choosing the best policy as ‘confusing’.
  • Almost a million Aussies believe they will be worse off with a reduced level of hospital cover as a result of the new tier system.

Fudging the Numbers?

  • A News Corp Australia investigation of actual premium rises on individual policies has found the government’s boast of delivering the lowest average premium rise in 18 years -3.25 per cent — is deceptive. In fact, health fund members with top cover are facing premium rises of over 7 per cent from April 1.
  • An analysis of premium rises in three of the top four health funds by News Corp Australia has found the government was able to deliver a low average increase because the junk health fund policies that cover not much at all have hardly risen in price.

KEY INSIGHT – iSelect’s guide to private health insurance changes:

  1. Gold/Silver/Bronze/Basic – all hospital policies will be categorised as either Gold, Silver, Bronze or Basic with minimum standards under each tier which will make it easier for customers to know exactly what they are covered for and to compare policies against each other.
  2. Higher maximum excess to reduce premiums – customers will be able opt for a higher excess ($750 for singles and $1500 for families) on eligible policies in exchange for lower overall premiums, saving up to $350 a year on a family policy.
  3. Youth discount – under 30s will benefit from discounts of 2-10% on eligible hospital policies. The younger they take out hospital cover, the greater the discount which will remain in place until they turn 41 and then phase out.
  4. Improved rural benefits – insurers will now be able to offer customers living in rural and regional Australia greater travel and accommodation benefits under their hospital policy if they need to travel to a metropolitan area for treatment.
  5. Natural therapies removed – while insurers will still be able to cover remedial massage, acupuncture and Chinese medicine as part of their extras policies, all other natural therapies will no longer be covered (including naturopathy, aromatherapy, homeopathy, pilates and yoga).

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BUDGET 2019

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[vc_row][vc_column][vc_column_text]The budget will be back in surplus earlier than expected and will also showcase the first surplus since John Howard was prime minister.

It will be a stark contrast from the last Labor Government, which didn’t deliver a surplus. The Morrison Government will be certain to remind the electorate of this from Budget Night to election day.

Further income tax cuts are well and truly on the agenda, to counteract Labor’s pledge to offer bigger tax cuts for low-middle income earners.

Infrastructure spending is also a policy battlefield and the Government will be trumpeting its 10-year $75 billion infrastructure plan.

This Budget is basically the Morrison Government’s election manifesto and will only be able to be implemented if the Government is re-elected in May.

OFF TO THE POLLS

The one certainty next Tuesday’s budget will do is presage the Prime Minister calling the May election.

The election will most likely be on May 18, but May 11 is also being considered. The Prime Minister will either visit the Governor-General on April 7 or April 14, to formally fire the starter-gun on the federal poll.

Calling the election on April 7, will see the Government avoid a week of Senate Estimates, scheduled for the week of April 8, which will entail the usual round of forensic questioning that the Government will want to avoid.

Remember the last round of recent Senate estimates was dominated by the HelloWorld issue, involving the close relationship between Ambassador to the US, Joe Hockey, Finance Minister, Mathias Cormann, and a major Liberal Party donor.  The Government will not want to see a repeat of this issue, just weeks out from the federal poll.

ONE NATION, PREFERENCES AND CONSPIRACIES

When Pauline Hanson was elected to Federal Parliament in 1996, she famously recorded a video for the Australian community stating that “if you are watching this video, it means I am dead!” or words to that effect.

Back then it was pretty weird, but One Nation now seems to have outdone itself.

In a media sting carried out by Qatari news outlet, Al Jazeera, Senator Hanson’s Chief of Staff, James Ashby, and One Nation’s Queensland leader, Steve Dickson, have been caught on tape apparently seeking up to $20m from the NRA in the USA, in exchange for One Nation weakening Australia’s gun laws.

To add to the weirdness, Pauline Hanson has been caught on tape seemingly questioning the Port Arthur massacre and wondering, if in fact, it was a Government plot in order to tighten gun restrictions.

Let’s be blunt, you couldn’t make this stuff up!!

Needless to say, Pauline Hanson has attacked the media claiming it is a stitch up and called on authorities to investigate Al Jazeera.

The political fallout has resulted in the Prime Minister being forced to announce the Liberal Party would preference One Nation below Labor, putting an end to any prospect of garnering One Nation preferences at the May election.[/vc_column_text][/vc_column][/vc_row]

SHARESOURCE – THE BAXTER WAY

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Here’s How it Works

Healthcare providers can act on this information by securely and remotely adjusting their patients’ home device settings without requiring patients to travel to the clinic. The SHARESOURCE system also provides a patient’s healthcare team better visibility to their missed treatments. The healthcare provider can then proactively follow up with their patient to address any potential issues.[/vc_column_text][/vc_column][/vc_row]

Choices, choices and the Prostheses List

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[vc_row][vc_column][vc_column_text]As health insurers resort to increasingly more desperate attacks on the medical device industry, let’s take a look at another ‘choice’, the choice that contributes so much to the value proposition of health insurance – choice of medical device.

As the April 1 changes to private health insurance draw closer, most policy-holders have received letters from their insurers explaining that things are about to change. Some letters even refer to cuts to the Prostheses List and the contribution this has made to the lowest premium increase for 18 years.

But how many people actually know what the Prostheses List is and what it adds to the value proposition of their health insurance?

The Prostheses List is what gives privately insured patients choice. Choice and access to a wide range of cutting-edge implantable medical devices, at no cost to them. The Prostheses List has also played a significant role in supporting private health insurance whilst at the same time suppressing benefit inflation.

Until consumers better understand the Prostheses List and what it is that their private health insurers are trying to take away from them, insurers will continue to play on the dearth of information available to their customers to make disingenuous claims about the device industry.

Such as their fixation on comparing apples with oranges as they attempt to resuscitate the tired old argument of international reference pricing.

There is no denying that our ageing population and the increasing prevalence of chronic disease is driving up the overall cost of healthcare in Australia, which means it is even more incumbent on our private health insurers to take an honest look at their costs, and, let’s be realistic, their not insignificant profits, without coming back to medical devices for another round.

The future of our private health system depends on it.[/vc_column_text][/vc_column][/vc_row]

THE FREEZE IS OVER!

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That’s hot! – tell me more.

The Commonwealth Government has injected almost $200 million into providing greater rebates for diagnostic imaging. This includes ultrasounds and x-rays, CT scans, fluoroscopy, mammography, and interventional radiology scans.

Australian Medical Association (AMA) President, Dr Tony Bartone, welcomed the long overdue announcement by the Government. The industry has been calling for these changes for many years.

What does this mean for patients?

Out-of-pocket medical expenses for patients who need life-saving scans, including ultrasounds and x-rays will now be reduced starting from July 2020. This change is an important step in addressing the rising costs patients are forced to cover.

Investment in high-quality diagnostic imaging services also makes good economic sense, by ultimately saving taxpayers from much higher downstream costs in the acute care sector.

KEY INSIGHT: with more than 9 million Aussies relying on diagnostic imaging services each year, these services play a critical role in a world-class, 21st century health system. With it, many modern medical treatments would not be possible.

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NSW Election Special

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[vc_row][vc_column][vc_column_text]Health is approximately 28% of the total NSW budget and both sides have made some big spending commitments.  Health is the portfolio that no matter how much a government spends it never seems to be enough.  It’s like a black-hole for government spending.

Both sides have committed to major increases in the health workforce; for Labor it’s 5,500 more nurses, 1,500 more paramedics and, 2,240 more allied health and support workers.

Not to be outdone, the Government will add 5,000 nurses and 2,300 other front-line staff.

More front-line health professionals is a welcome investment, but what is missing in this debate is where are all these extra staff coming from?  It’s fair to say, you don’t train a nurse overnight.

The other major commitments are in the area of investing in hospitals.  The Government has committed a number of large-scale projects, including, but not limited to:

  • $780 million for John Hunter Hospital
  • $470 million for a new Maitland Hospital
  • $619 million upgrade of the Westmead Children’s Hospital
  • $750 million redevelopment of the Royal Prince Alfred Hospital
  • $608 million of the Children’s Hospital at Randwick

Labor has taken a slightly different approach and has specifically targeted small country hospitals and multi-purpose services.  This is part of a deliberate political strategy given the Government’s electoral problems in the bush.  This includes, but it not limited to:

  • $250 million for small country hospitals and multi-purpose services
  • Moving to introduce mandated nurse ratios in public hospitals
  • Six detoxification and rehabilitation clinics at a cost of $100 million
  • $534 million for a new Tweed Valley Hospital
  • $395 million to upgrade St George Hospital to give it the capacity to perform state of the art robotic precision surgery

In other commitments the Government has also committed to $21.7 million in a state-wide stroke telehealth service.

Where Will it be Won or Lost

If the pundits are to be believed the future of the Government rests in rural and regional NSW.  After two disastrous by-elections that saw 20% plus swings and the loss of the seats of Wagga Wagga and Orange, regional NSW is ground zero for the Government.

The considered view is the ALP can win only 2-3 metro seats and is competitive in a number of regional seats but cannot win the 13 seats it needs to win majority Government.

For the Government if they lose 6 seats, they will lose their majority, with 47 seats required for a 1 seat majority.

So, the smart money at this stage is on a hung parliament and which party ends up with the most seats is probably best positioned to from a minority Government.

In what will be a likely return to the political limelight, Mark Latham, former ALP federal leader and former Liberal Democratic Party member, is most likely to be elected to the NSW Upper House as a One Nation MP.

As they say, what is old is new again!!  Enjoy your Election Night.[/vc_column_text][vc_zigzag][vc_row_inner][vc_column_inner width=”1/4″][vc_single_image image=”1915″ img_size=”full”][/vc_column_inner][vc_column_inner width=”3/4″][vc_column_text]

ABOUT THE AUTHOR

Jody Fassina is the Managing Director of Insight Strategy and has served as a strategic adviser to MedTech and pharmaceutical stakeholders.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]

Heart Tech Gives Second Chance at Life

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[vc_row][vc_column][vc_column_text]And it seemed to never be the same again. Following the burglary, his health started to decline, and one year later he was diagnosed with congestive heart failure requiring emergency surgery to implant one of our pacemakers.

About 12 months after receiving his pacemaker, Tyrone’s heart began retaining fluid – a dangerous complication for someone with congestive heart failure – and his doctors recommended our CardioMEMS HF System. The heart failure monitoring system allows Morris’ doctors to keep a close watch on him, wherever he is.

But even with the pacemaker and CardioMEMS, Tyrone’s heart kept getting worse – he needed a transplant. As a bridge-to-transplant therapy, his doctors implanted our HeartMate 3 Left Ventricular Assist Device (LVAD). The HeartMate 3 LVAD takes over the pumping function of your heart and can prolong the lives of those waiting for a transplant. [/vc_column_text][/vc_column][/vc_row]

MEDICAL TECHNOLOGY INDUSTRY CODE OF PRACTICE REVIEW UNDERWAY

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[vc_row][vc_column][vc_column_text]Medical Technology Association of Australia (MTAA) members are required to abide by The Code, which sets out an ethical framework to guide their interactions with healthcare providers.

The Code ensures that healthcare providers are not influenced in their decision-making around the use of devices through financial or other inducements to providers.

Compliance with The Code is binding on members of MTAA. Non-member companies are encouraged to observe The Code as the recognised industry standard. A breach of The Code can result in significant financial penalties. In addition, the findings are made public on the MTAA website and in the MTAA Annual Report.

For MTAA, the Medical Technology Industry Code of Practice provides a platform to educate companies, healthcare professionals and consumers about the benefits of working in an ethical, transparent, and socially responsible business environment.

Pam Davis is a Consumer Representative on the Code Committee and is looking forward to participating in the review process:

“Consumers need to have confidence in the ability of The Code to monitor and uphold sound ethical practices in the medical technology industry.  To this end, it is vital that The Code reflects current community standards and keeps abreast of changes in marketing practices, by undertaking regular reviews,” Ms Davis said.

If you or your organisation would like to participate in the Code review, either through a face-to-face interview, a written submission or by completing a formal survey, please contact Neina Fahey, Code of Practice and Project Coordinator by email nfahey@mtaa.org.au or phone (02) 9900 0626 by Friday 31 May 2019.[/vc_column_text][/vc_column][/vc_row]

A Therapeutic (Plasma) Exchange

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Why does this matter?

Demand for Immunoglobulin (Ig) in Australia is growing at an annual rate of 5% – 10%. Ig is a fractionated blood product made from human plasma used to treat serious diseases such as primary immuno-deficiencies and several neurological conditions. The good news is that alternative treatment options do exist for certain conditions. TPE is one of them.

TPE is a well-established immunomodulatory therapy used to treat a variety of medical conditions including Guillain-Barré syndrome, Chronic inflammatory demyelinating polyneuropathy and Myasthenia Gravis as well as autoimmune diseases in which the immune system mistakenly attacks the body’s own healthy cells, tissues and/or organs.

How does TPE work?

It is a procedure in which plasma is separated and extracted from the blood to remove a disease substance circulating in a patient’s plasma. The plasma is exchanged with a replacement fluid. Usually, the exchange of one plasma volume removes about 66% of the harmful antibodies and a two-plasma volume exchanges approximately 85%.[/vc_column_text][vc_single_image image=”2918″ img_size=”full”][vc_column_text]

What are the common misconceptions?

There are several myths and beliefs around the use of TPE.

Myth Reality
TPE is inconvenient Many hospitals have established standard processes to ensure that apheresis therapy is readily available to prescribers through inpatient or outpatient services
TPE takes a long time The median TPE procedure time is 1 hour and 45 minutes.
TPE is not safe TPE is safe and well-tolerated, with most reactions being mild, easily treated and of limited duration. For some conditions, as the Myasthenia Gravis crisis, expert consensus suggests that TPE is more effective and works more quickly than intravenous immunoglobulin.
TPE is invasive and requires central access Most of TPE procedures are conducted via peripheral access which is generally safer, easier to obtain, and more comfortable than central access.
TPE is expensive

 

 For some hospitals, TPE may offer the potential for significant cost savings

Set your misconceptions aside!

TPE is a viable alternative which can help reduce reliance on Ig products and provide better access to treatment for those conditions for which no viable therapeutic alternative to Ig exists.

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Polls, Power and Positioning

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[vc_row][vc_column][vc_column_text]It marked the 50th Newspoll, in a row, the Government has lost with the two-party preferred result, placing Labor ahead of the Coalition, 54 to 46.

The poll had the Government with a primary vote of 36 versus 39 for the ALP.  In 2016 the Turnbull Government won a one seat majority with 43% of the primary vote.  This is the fundamental challenge for the Government – their primary vote is too low to win.

The last fortnight saw the Government campaigning hard on the economy and border security, with little apparent impact on their electoral standing.  It also makes the Ipsos poll from a month ago look like an aberration rather than a change in sentiment towards the Government.

Energy policy continues to divide the government, bedevilling many prime ministers and governments alike, starting with Kevin Rudd back in 2010.

Regardless of the party in government, energy policy – synonymous for climate change policy – continues to dog the government-of-the-day.

For Rudd and Gillard, it was putting a price on Carbon, for the Liberals it is renewables versus coal and committing to action like the Paris agreement.

This week saw former Deputy PM Barnaby Joyce actively calling for a Government funded coal fired power station in central Queensland.

While it might be popular in central Queensland, for southern Liberals in leafy progressive seats, where climate change is seen as a real issue requiring a real response, calls for Government funded coal power stations is not exactly a vote winner.

Joyce has also caused more leadership heartache by saying he is ready and willing to serve as Nationals leader should the position become vacant.

This set off another round of leadership speculation within the Government and in particular the National Party, just two months before the federal election and less than two weeks before the NSW state election.

For a Government that has had 3 Prime Ministers in 3 years, the last thing it needs is a constant reminder of leadership instability, but Joyce’s support for a coal fired power station made sure it was front page news, drowning out any other Government message.

Bill Shorten announced this week that a Labor Government could seek to legislate a living wage by changing the law to compel the Fair Work Commission to set a higher minimum wage.

While there are competing economic views on whether a higher minimum wage would price workers out of the market, the issue plays right into Labor’s fair go agenda.

The Government attacked the plan with the Prime Minister stating, “I don’t think Australians want to see their co-workers sacked for them to do better. But that is Bill Shorten’s plan for Australia. To set one Australian against another. He is engaged in this war of envy on Australians.”

With many Australians experiencing low to stagnating wage growth, Labor is all too happy to be seen championing higher minimum wages in the face of Government opposition.

Until next week[/vc_column_text][vc_zigzag][/vc_column][/vc_row][vc_row][vc_column width=”1/4″][vc_single_image image=”1915″ img_size=”full”][/vc_column][vc_column width=”3/4″][vc_column_text]

ABOUT THE AUTHOR

Jody Fassina is the Managing Director of Insight Strategy and has served as a strategic adviser to MedTech and pharmaceutical stakeholders.[/vc_column_text][/vc_column][/vc_row]