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MEDTECH CELEBRATES INTERNATIONAL WOMEN’S DAY

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[vc_row][vc_column][vc_column_text]This year’s theme, Each for Equal, challenges everyone to actively choose to fight bias, broaden perceptions, improve situations and celebrate women’s achievements.

Guests at the event heard from Sheena Vinden, Senior Partner at Atkinson Vinden Lawyers, Trish Bramble, General Manager of the Manly Warringah Women’s Resource Centre and Dr Elizabeth Shoesmith, Founder and CEO of The Inclusive Organisation Group.

All the speakers challenged guests to individually champion greater equality for women in the workplace and in our community, whilst giving a timely reminder that we still have a long way to go.

Women continue to face active bias in the workplace and, whilst progress is being made, there is still a struggle to achieve financial equality and attain senior leadership roles. We all have a role to play to ensure this is addressed.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_images_carousel images=”4411,4412,4413″ img_size=”full”][/vc_column][/vc_row]

BIG CORPORATE HEALTH INSURERS CALLED OUT

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[vc_row][vc_column][vc_column_text]The ACCC report cities multiple examples where the big corporate insurers have attempted to deny vulnerable Australians access to essential medical treatments, while at the same time raising the price of their premiums.

The report stated that “In 2018-19, private health insurance participants rates continued to decline, while average gap payments for in-hospital and extras treatment increased”.

It also highlighted the fact that “cumulative premium increases have been higher than inflation and wage growth in the past five years, indicating that households with private health insurance are contributing an increasing proportion of their incoming to paying premiums”.

Other industry groups, including the MedTech industry, have slammed the big corporate insurers over their alleged tending ‘policy reform’ as “nothing more than a disturbing attempt to maximise profits over the interests of patients”.

The Medical Technology Association of Australia (MTAA) has said the likes of Medibank, Bupa, NIB and HCF have already undermined consumer confidence in their own products through their “smash and grab” approach to keep their businesses afloat.

The allegation is supported by the ACCC’s instituted proceedings in the Federal Court in May 2017 against NIB where it alleged “it (NIB) contravened the ACL by engaging in misleading or deceptive conduct, unconscionable conduct and making false of misleading representations.” The proceeding arose from NIB’s alleged failure to notify members in advance of its decision to remove certain eye procedures from its ‘MediGap Scheme’ in 2015. Under the MediGap Scheme, members had previously been able to obtain these eye procedures without facing out-of-packet costs when doctors participated in the scheme.

“The Federal Government cannot afford for private health insurers to also now undermine patient confidence in their doctors,” MTAA said in a statement on its website.

Its clear this will not only spell and end to private health insurance as we know it, but irreparable damage to Australia’s healthcare system.[/vc_column_text][/vc_column][/vc_row]

AUSTRALIANS LACK AWARENESS OF A SERIOUS HEALTH CONDITION

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[vc_row][vc_column][vc_column_text]The reality is that more than 43,500 Australians die from cardiovascular disease with a further 41,400 deaths associated from it.[1] Heart disease remains the most expensive disease with more hospitalisations than any other disease, costing over $12 billion per year and estimated to increase to over $22 billion by 2032-33.[2]

What if I told you there is a disease that impacts 1 in 8 Australians over 75 and, of those, 1 in 3 are under-recognised and under-treated? The real kicker is that up to 50% of those Australians with the severe form of this disease will die within 2 years[3] unless they get surgery.

It’s a condition that’s as common as breast cancer.

Aortic stenosis is the narrowing of the aortic valve that restricts blood flow and, too often, the symptoms, such as chest pain, fainting upon exertion, shortness of breath and reduced activity, are dismissed as “getting old”.

With an ageing population, we will all need to look at ageing through a different lens. For example, Australians aged 65 years and over contribute almost $39 billion each year in unpaid caring and voluntary work. If the unpaid contribution of those aged 55 to 64 years is included, that figure rises to $74.5 billion per year.[4]

A YouGov study commissioned by Edwards Lifesciences surveyed 2004 Australians over the age of 60 and showed 79% of respondents don’t know what aortic stenosis is, despite it being the one of the most common and serious heart valve disease problems in developed countries. [5] The questions were based on a similar survey of 12,820 people aged 60 years or older in 11 European countries in 2017.[6]

Next year, 5.5 million Australians will be over the age 60 years, and this will increase to 6.9 million by 2030.[7] Of those, we estimate the prevalence of severe aortic stenosis will increase from ~35K to ~46K that’s a 31% increase in 10 years.

At present, we are only treating ~8036 Australians, leaving tens of thousands untreated and under-diagnosed.

A recent report[1] from Australian researchers found high rates of mortality associated with both moderate and severe aortic stenosis during long-term follow-up. As such, previous suggestions that moderate aortic stenosis is a benign condition are wrong.

In November, Medicare raised the rebate for heart health checks to 100%, meaning more than 1.5 million Australians at risk of heart attack or stroke now have access to GP-administered heart health checks.

We hope that checking for that ‘whooshing’ or ‘swishing’ sounds, which are signs of a heart murmur, is front of mind, because it will play a critical role in getting Australians at risk of cardiovascular disease the treatment they need.

At Edwards Lifesciences, we’re proud to be the market leader in patient-focused innovations for addressing structural heart disease. We’re committed to delivering innovative therapies for patients, whether it be for the aortic, pulmonary, mitral or tricuspid valves.

Heart disease is the number one cause of death in Australia. Should you be asking your doctor for a heart health check today?

For more information on aortic stenosis please visit: http://www.HopeforHearts.com.au or https://newheartvalve.com/au/[/vc_column_text][vc_zigzag][vc_row_inner][vc_column_inner width=”1/4″][vc_single_image image=”4394″ img_size=”full”][/vc_column_inner][vc_column_inner width=”3/4″][vc_column_text]

ABOUT THE AUTHOR

Pat Williams is the Managing Director of Edwards Lifesciences ANZ.

For more about Pat, watch: Pat Williams, talks about his journey into the MedTech and healthcare space.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_separator][vc_column_text][1] https://www.aihw.gov.au/reports/heart-stroke-vascular-disease/cardiovascular-health-compendium/contents/deaths-from-cardiovascular-disease

[2] https://www.baker.edu.au/-/media/documents/impact/baker-institute_no-second-chances.pdf

[3] Otto CM. Timing of aortic valve surgery. Heart. 2000;84:211-8.

[4] https://aifs.gov.au/publications/archived/1044

[5] Osnabrugge MS et al ‘Aortic Stenosis in the Elderly. Disease Prevalence and Number of Candidates for Transcatheter Aortic Valve Replacement: A Meta-Analysis and Modelling Study’ JACC 2013 Vol. 62, No 11, 2013

[6] https://link.springer.com/article/10.1007%2Fs00392-018-1312-5

[7] https://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/3222.02017%20(base)%20-%202066?OpenDocument

[8] https://doi.org/10.1016/j.jacc.2019.08.004[/vc_column_text][/vc_column][/vc_row]

HOW WELL MAINTAINED IS MEDICAL EQUIPMENT IN HOSPITALS?

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  1. NSW Auditor-General’s Report: Performance Audit – Medical equipment management in NSW public hospitals, May 2017

The NSW Auditor General found that: “Only about half the items of equipment included in our sample had testing and maintenance completed according to scheduled intervals or within 30 days of the scheduled date. These intervals were set under the Australian/ New Zealand Standard 3551 ‘Management programs for medical equipment’, which requires regular testing and maintenance of biomedical equipment to ensure it is safe and suitable for clinical use.”

While AS/NZS 3551 may have stipulated a 30-day time frame for completing maintenance within the scheduled date in its previous 2004 version, it no longer specifies any time frame for completing maintenance in its current 2012 version. Instead it states in section 6.7.2 When assessment and testing are delayed: “Where medical equipment is identified as beyond its anticipated re-assessment date, the responsible organization [i.e., hospital] shall be advised that service and testing are overdue. The medical equipment shall be made available at a mutually acceptable time to the clinical user and the service entity to allow assessment of the medical equipment to bring it into compliance.”

An open-ended “mutually acceptable time” for the hospital and the service entity may not be acceptable to ensure the safety of patients. Since the standard does not require that the decision to delay be appropriately approved and documented (justification, approver with management responsibility), it is likely that nobody will feel accountable for maintenance delays.

The audit report also found that: “The information systems used to record service histories of biomedical equipment were inefficient and inadequate for effective planning, monitoring and reporting of testing and maintenance. The implementation of a state-wide asset management system, Asset and Facilities Management Online (AFM Online), which will replace existing systems, has experienced delays. In addition, hospitals did not maintain adequate oversight of testing and maintenance that was outsourced to external contractors.”

Inefficient and inadequate information systems for medical equipment management coupled with slack requirements in AS/NZS 3551:2012 are a very bad combination indeed, likely to result in poor maintenance practices and adverse events.

It is not clear why the 30-day time frame for completing maintenance within the scheduled date was removed from AS/NZS 3551:2012. This change is not even listed in the PREFACE on page 2 of the standard along with other “principal differences”; is it really such a negligible change?

  1. Victorian Auditor-General’s Report: Efficiency and Effectiveness of Hospital Services – High-value equipment, February 2015

The audit of the Victorian Auditor General’s examined the effectiveness and efficiency of planning, delivery and utilisation of high-value imaging equipment in Victorian public hospitals such as CT and MR, and found that public CT and MR imaging services “are not being managed economically, efficiently or effectively across Victoria”.

The report concludes that: “Poor medical equipment asset management practices in public health services exacerbate a lack of planning at the health-system level. None of the six public health services visited had an asset management plan that included imaging equipment. The health services could not communicate to the department—or clearly identify—what their future imaging needs would be over the medium to longer term. This means that although future demand is set to increase, it is not clear at either the health-system or health-service level how that demand might best be met.”

The Auditor General’s report does not mention the AS/NZS 3551 standard at all, but the Victorian Department of Health refers to AS/NZS 3551:2004 in its Medical equipment asset management framework – Parts A and B of 2014 and Part C of 2012. Section 4.2 Maximise the effective life of the asset states: “The maintenance requirements of specific items are determined by the original equipment manufacturer guidelines (as described in the service or maintenance manual) and Australian and New Zealand Standard (AS/NZS) 3551 — Technical management programs for medical devices.”

It is not clear whether the maintenance and management programs for medical equipment have been audited by the Victorian Auditor General at all.

  1. Western Australian Auditor General’s Report: Management of Medical Equipment, May 2017

This audit assessed whether the management of medical equipment in public hospitals is efficient and effective. The audit report points out that: “Medical equipment can be technically complex and require specialist expertise to use, maintain and repair. It generally has an expected life of between 5 and 10 years depending on the type of equipment. The actual life will also depend on a wide range of factors including how often it is used, how reliable it is and how well it is maintained. The unavailability or failure of equipment can present significant risks to patients, staff and service delivery – risks that the health system needs to manage. Individual health service providers and hospitals are responsible for managing their own equipment, including planning, acquisition, maintenance, repair and disposal.”

The audit report concludes: “Equipment failure or unavailability due to repair or maintenance rarely has a serious impact on patient care. However, it does cause incidents and inefficiencies. The risk of adverse events was also increased because preventative maintenance for 16% of equipment we sighted was not done on time, and yet the un-serviced equipment remained available for use. Keeping to maintenance schedules is even more important as 36% of equipment we sighted across our 8 sample hospitals had exceeded its expected life.”

The AS/NZS 3551 is not mentioned in the audit report at all, however the Western Australian Department of Health’s policy for the management of medical equipment of 2019 quotes AS/NZS 3551:2012 as the underlying basis for compliance.

The current approach of State health policies in relation to medical equipment management and maintenance practices appears to be particularly inward looking, with little or no acknowledgement of international best practices like those described in the:

  • international standard ISO 55001:2014 Asset management – Management systems;
  • international standard IEC 62353:2014 Medical electrical equipment – Recurrent test and test after repair of medical electrical equipment;
  • WHO Health technology management resources, encompassing a series of guides published since 2011 (see Figure), including:
  • Procurement process resource guide
  • Medical equipment maintenance programme overview
  • Computerized maintenance management system

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BAXTER NAMED TOP COMPANY FOR GENDER EQUALITY

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Baxter Healthcare Pty Ltd (Baxter) has been named among the top 119 companies in Australia for gender equality for a fifth consecutive year.

The Australian Government’s prestigious “Employer of Choice for Gender Equality” citation is awarded to organisations who set the benchmark for gender equality in the workplace.

Workplace Gender Equality Agency (WGEA) Director Libby Lyons congratulated Baxter for its continuous focus on diversity and inclusion in the workplace.

“All these organisations are at the forefront of the momentum for change towards gender equality in Australian workplaces,” Ms Lyons said.

“These industry leaders are showing other Australian businesses how to create a better and more equal future for both women and men.

“They are closing their pay gaps and increasing their representation of women in management at a faster rate than other employers in our dataset.”

General Manager Baxter Australia and New Zealand Steven Flynn said Baxter was proud of its unwavering commitment to diversity and inclusion in the workplace.

“Baxter is honoured to be named among the top 119 companies in Australia as a leader in workplace gender equality,” Mr Flynn said.

“We continue to challenge ourselves and our industry to deliver new policies and measurable targets to achieve gender equality across all levels of management.

“Thank you to all our employees at Baxter for taking ownership on this important social and workplace goal.”

In 2019, Baxter was named for a second consecutive year “Women in MedTech Champion” by the Medical Technology Association of Australia (MTAA) for its commitment to promoting gender equality in the medical device industry.

Baxter gender equality policies and practices include:

  • Proactively supporting women to succeed in leadership roles through accelerated learning programs, networking, mentoring and coaching opportunities.
  • Employment practices that ensure pay equality based on merit rather than gender.
  • Actively encouraging men and women to take paid parental leave; recognising the needs of the family unit regardless of gender.
  • Formal processes for applying for flexible working arrangements, encompassing; part-time work, job sharing and flexible working hours.
  • Domestic violence leave to support employees and foster a safe and secure workplace.

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People living with diabetes now have broader access to blood glucose monitoring products in Australia

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Diabetes is considered an epidemic in Australia, with 1.7 million Australians living with the condition and a further 280 people diagnosed each day.

“While pharmacy remains the key access point for products that are reimbursed via the National Diabetes Services Scheme (NDSS) and to seek advice, it is evident that many Australians are simply not managing their diabetes effectively and we want to ensure that access is not a barrier,” said Ms Jane Crowe, General Manager, Roche Diabetes Care Australia.

“We are committed to innovation, not only in our product development, but also in ways in which consumers can access them. Given this range is not reimbursed via the NDSS, no form is required to purchase the products, enabling us to establish the partnership with Woolworths and broaden availability.

“As the market leader in diabetes monitoring, we are passionate about understanding the needs of people with diabetes and offering them broad access to encourage regular self-management,” said Ms Crowe.

Roche Diabetes Care has been pioneering innovative diabetes technologies and services for more than 40 years. Being a global leader in integrated personalised diabetes management, we work every day to support people with diabetes and those at risk to achieve more time in their target range and experience true relief from the daily therapy routines.

Under the brand Accu-Chek and in collaboration with partners, Roche Diabetes Care creates value by providing integrated solutions to enable optimal personalised diabetes management.

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MEDIBANK MANAGEMENT TO BLAME, NOT MEDICAL DEVICES

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[vc_row][vc_column][vc_column_text]Mr Burgess said Medibank’s attempts this week to blame medical device usage for its alleged profit downturn flies in the face of APRA data released Tuesday, showing insurer net profit after tax (NPAT) was up 21 per cent in the Dec 19 Qtr from $1.19 billion to $1.44 billion.

Medibank also failed to declare today the upwards of $400 million in direct medical device savings Health Minister Greg Hunt had already delivered private health insurers since 2017.

“It’s comments like these from Medibank today that are destroying consumer and investor confidence in their own products and performance, as well as the broader sector. No wonder they’re in a self-proclaimed ‘death spiral’,” Mr Burgess said.

“Private health insurers haven’t paid one extra cent for medical devices over the past two premium years, despite raising premiums twice-inflation and banking nearly $1 billion in profits between the big corporate health funds, including Medibank.

“It’s not the role of medical devices to keep propping up Medibank’s managerial inaction and incompetence, while they continue to feather their nest with taxpayer handouts and corporate bailouts.

“Medibank’s management seems to routinely fail to understand that timely access to the best and latest medical devices is exactly why their customers put up with years of premium pain. Reducing access will only reduce customers.

“Medibank’s customers have clearly had enough of their premiums increasing faster than house prices with no matching increase in benefits and are finally cashing in their chips before they’re forced out altogether.

“If Medibank can still afford to pay a dividend to its shareholders, it can afford to drop its prices for its customers.”

Mr Burgess also questioned why there was no mention in Medibank’s statement today of the benefits that were about to flow through from recent price cuts on 1 Feb 2020 to over 7000 medical technologies like pacemakers, insulin pumps, eye lenses, hip and knee replacements and more.

 

“Medical device manufactures have cut their prices upwards of 40 per cent in the past 3 years as a result of the direct lobbying of insurers like Medibank to help reduce premiums and increase access.

“It’s a safe bet that the first private health insurer whose premium increases go below zero will increase their market share overnight.[/vc_column_text][/vc_column][/vc_row]

3D PRINTING – A JOINT SUCCESS STORY FOR BOTH AUSTRALIAN INDUSTRY AND REGULATORS

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[vc_row][vc_column][vc_column_text]Historically, much has been made of Australia’s record of innovation in medical devices and pharmaceuticals. Inventions such as the Cochlear Implant, the vaccine to protect against cervical cancer, spray-on skin and penicillin have long attracted the attention of medical professionals and the public.

Parallel to this, Australia has developed a world-class regulatory regime that facilitates patients’ access to these inventions both here and overseas, while maintaining high standards of public health and safety.

Not long ago, the 3D printing of medical devices – the personalisation of a device to suit an individual’s unique physical characteristics and medical needs – seemed like science fiction. Now it’s a reality, and Australia is leading the way, quietly maybe, but in a manner that is delivering to patients, Australian businesses and the economy.

As ever, this is thanks not only to cutting edge Australian scientific and manufacturing ingenuity, but also regulatory innovation, creating frameworks that help facilitate access to safe high quality products.

Since 2017, the Therapeutic Goods Administration (TGA) has been working towards a modernisation of the regulatory regime to achieve this.  With that process now rapidly heading towards implementation, new classifications of medical devices will provide novel regulatory pathways onto the Australian Register of Therapeutic Goods (ARTG) for mass “personalised” medical devices, which were previously categorised within the much broader “custom medical device” category.

This ground-breaking regulation will support a business environment that encourages innovation and investment, whilst facilitating Australian businesses to export their devices to the markets that need them. The TGA has clearly recognised technological changes in 3D printing and the impact this has had on the market for 3D-printed medical devices.

This is particularly reflected in the harmonisation of definitions relating to personalised medical devices, with the International Medical Device Regulators Forum (IMDRF), agreed in November 2019. This development is extremely important for Australian businesses.  The global leadership demonstrated by the Australian TGA, led in this role by Dr Elizabeth McGrath, cannot be overstated.  In short, it is Australian regulators who have set the gold standard now being implemented by their peers across the world.

For pioneering Australian companies, international harmonisation facilitates access to new markets and broadens existing ones. It supports further innovation by giving greater confidence that new devices will reach sufficient markets to support the investment needed to develop them, as well as local manufacturing facilities to produce them.

This harmonisation of the regulatory approach to 3D printed and personalised medical devices is an achievement of which the Australian Government, the Minister for Health Greg Hunt, and the TGA should all be justly proud. If, as expected, the Australian regime is the first of the IMDRF-harmonised regimes to accept applications for Personalised Medical Devices to enter the ARTG, there is a very real prospect that some of the most sophisticated medical device companies from around the globe will now consider an Australia-first lodgement strategy to facilitate the fastest possible pathway to certifying safety, efficacy and conformity prior to global export.

3DMEDiTech is one Australian company poised to take advantage of the new regulatory pathway onto the ARTG and international equivalents. This Melbourne-based company aims to deliver customised 3D printed devices and manufacturing services to the health sector across the Asia Pacific region and beyond.

Each medical device the 3DMEDiTech develops requires significant research and development to allow it to be rapidly mass personalised according to the prescription of the patients health care provider.  This includes mapping and interpreting the full spectrum of the clinical problems the device aims to address, the development and application of novel algorithms, and finding solutions to significant design, material and engineering problems.

Once all those challenges are addressed, the multidisciplinary collaboration of clinicians, engineers, mathematicians, programmers and technicians needs to ensure that the devices can be produced at scale for thousands of people.  The workflow is entirely digital. This means that they can deliver the fastest and most accurate design and delivery of customised devices to healthcare providers and their patients.

3DMEDiTech has also partnered with world-leading clinical and research partners including Melbourne University, St Vincent’s Health Australia, Orthokids and Ivoclar Vivodent. The company also recently joined as foundation industry partners of the Australian Research Council Training Centre for Medical Implant Technologies “CMIT”, headed by the University of Melbourne’s Professor Peter Lee.

Printed devices developed and manufactured in Australia by 3DMEDiTech include prescription clear aligners for by dental clinicians, orthoses for prescription by orthotists and prosthetists, plagiocephaly helmets (used to help infants’ heads form properly), leg braces and ankle foot orthotics.

While much of 3DMEDiTech’s work is still pre-clinical and not in the public domain, several of their lower risk-class devices are already in market and have been spun out into stand-alone commercial entities.

SmileStyler® www.smilestyler.com.au makes prescription-only clear aligners which has uniquely solved the primary clinical problem that had faced both dental professionals and patients.

Serkel® https://serkel.org/ makes personalised orthoses for prescription by orthotists and prosthetists which include plagiocephaly helmets (used to help infants’ heads form properly), bracing and ankle foot orthotics.

There is enormous demand for these products across Asia Pacific. Australian excellence in the research, development and manufacture of these first-rate devices is evident, and recognised.  So too is the role of the TGA in enhancing the reputation for safety and efficacy of the companies and devices they regulate.

The TGA has recognised the opportunities that exist not just for patients, but for Australian businesses in 3D printing, and has taken a global leadership role in advancing personalised medical devices. However, to fully realise the capabilities and ingenuity of Australian companies like 3DMEDiTech, an effective regulatory system is essential.

3DMEDiTech’s founder, Paul Docherty, said: “Our company operates at the forefront of this rapidly growing sector. But we couldn’t do that if the regulations weren’t being put in place to ensure market access and help achieve a return on the substantial investment necessary. In helping deliver international harmonisation in how to define and regulate these emerging devices, the TGA has helped support Australian businesses and jobs. It’s made it possible for companies like ours to continue leading the way in the research, design and production of outstanding printed, personalised medical devices for patients across Asia Pacific.”

Like all industries, there are rogue operators in 3D printing, but the TGA’s work ensures that unscrupulous companies do not undermine patients’ wellbeing and that companies like 3DMEDiTech thrive, delivering innovation, value and better clinical outcomes both to the Australian economy and health system.

Few people recognise what has been achieved in this field in the last three years.  That is a mistake – it’s an Australian success story in the making, and another triumph in the distinguished history of Australian medical innovation. It deserves to be celebrated.[/vc_column_text][/vc_column][/vc_row]

MEDTRONIC SEEKING PARTNERS IN INNOVATION

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[vc_row][vc_column][vc_column_text]For the first time in Australia, Medtronic Australasia will host Eureka LIVE in collaboration with AusBiotech’s premier medical technology conference AusMedtech 2020 from 20-22 May at the Melbourne Convention Centre. Applications are being called from in-market or ‘launch ready’ medtech companies who are looking for opportunities to scale their product innovations globally.

“Medtronic has the tools and experience to collaborate with inventors across a broad range of innovative ideas,” said Tim Fortin, Vice President and Managing Director, Medtronic Australasia. “We have a proven track record of bringing new products to market, by combining our research, engineering, and commercial competencies to deliver meaningful innovations at the therapeutic, procedural, and healthcare system levels.

“At Medtronic, we believe patient-focused innovation – and strong partnerships – remain key to an even better, more impactful future. We are confident that an approach focused on ANZ, which protects inventors and enhances opportunities to collaborate on innovation development, will yield excellent results and push medical technology forward,” Mr Fortin said.

Following the application process, shortlisted companies will showcase their innovations to delegates attending AusMedtech 2020 – both as part of the main Conference program and through Exhibition space at the event – before moving on to targeted and exclusive deep-dive sessions with global Medtronic executives. Successful companies will then be invited to connect with the Medtronic global network to accelerate and fund appropriate opportunities to market in the pursuit of improving community-wide health.

Eureka LIVE aims to promote innovations that add real value for better patient outcomes at appropriate costs, which are validated by solid clinical and economic evidence:

  • innovation for patients, like device technology or remote sensing and monitoring;
  • innovation for hospitals, like data-driven insights to improve processes and predictive analytics to inform patient selection and management;
  • innovation for health systems, like algorithms and data integration to produce system intelligence and transform system performance.

To apply, please visit: https://www.medtronic.com/au-en/c/eurekalive.html

Hosted by Medtronic Australasia, Eureka LIVE is supported by AusBiotech and the MedTech Actuator. It builds on Medtronic’s commitment to supporting local innovation through its web-based portal Medtronic Eureka, also hosted in collaboration with The Medtech Actuator.[/vc_column_text][/vc_column][/vc_row]

PRIVATE HEALTH PREMIUMS MUST DECLINE IN LINE WITH MEMBERSHIP

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[vc_row][vc_column][vc_column_text]Mr Burgess said over 2 million Australians dumped their private health insurance in the last five years and this week’s December quarter APRA figures confirmed this trend was continuing, with only 44.0% per cent of the country now covered.

At the same time, the APRA data shows private health insurance profits before tax increased 14 per cent over the past 12 months from $1.6 billion to $1.8 billion.

This is despite the price of medical devices paid by private health insurers dropping by up to 38 per cent in the past 3 years thanks to government reforms, including another round of recent price cuts on 1 February 2020 for technology treating heart and lung disease, diabetes, bone cancer, severe arthritis and eye trauma.

“It’s clear private health insurers would rather drop customers than drop their prices and profits,” Mr Burgess said.

“Private health insurance premiums have grown faster than national house prices over the past decade.

“It’s a safe bet that the first private health insurer whose premiums go below zero will increase their market share overnight.

“Surely that’s a better investment than health funds spending more on marketing to squabble over fewer customers?

“Private health insurers haven’t paid one extra cent for medical devices over the past two premium years, despite raising premiums twice-inflation and banking nearly $1 billion in profits between the big corporate health funds.

“The number of Australians dropping out of private health insurance is quickly snowballing into an avalanche and it’s time for government to step in and save private health from itself.”

A recent Alpha Beta report identified $1 billion worth of efficiencies that could reduce private health prices by up to 20 per cent within 3 years if government adopted them now.[/vc_column_text][/vc_column][/vc_row]