A PCI should review if the current powers of APRA are fit for purpose for a future health sector.
A PCI should consider improving tranparency for consumers about information and out-of-pocket costs, and simplify in-hospital treatment billing.
PHI participation has dropped to 44.6 per cent of the total population as of December 2018 compared with a peak of 47.4 per cent in 2015, according to UBS.
Hospital operator St Vincent’s Health Australia says patients should be told the full cost of all services upfront before they walk through a hospital door and has called for the prudential regulator to be given greater powers over private health insurers.
The call for sweeping reforms for the private health system that it says is at a "crossroads" is contained in its response to federal Labor's proposed Productivity Commission inquiry.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
