nib's Mark Fitzgibbon has used the announcement of the company's full-year result to repeat his call for further reform of the private health insurance sector.

Prime minister Scott Morrison has set out his expectation of the public service but said it needs to look beyond the "highly organised and well-resourced interests in our democracy" when it comes to stakeholder engagement.

Medibank has launched its new Live Better rewards with members who hold eligible hospital or extras cover now able to earn and redeem rewards.

"We have begun the next wave of private health insurance reforms. We are working collaboratively with insurers, hospitals and doctors to deliver a better outcome for consumers. Our first round of reforms delivered the lowest premium changes in 18 years," said health minister Greg Hunt at the National Press Club yesterday.

A new report has recommended 19 reforms to the health system it says could help address the "many headwinds, including an ageing population and the rising burden of chronic disease."

CSL has announced a strong full-year result with net profit after tax up 17 per cent to US$1.919 billion on the back of an 11 per cent jump in revenue.

Medtronic was ranked third behind Sydney-based cancer company EnGeneIC and digital diagnostic company Ellume.