Members Health says new analysis highlights the need for reform

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Members Health says updated pricing data from France has provided further evidence of the need for reform of private medical device pricing in Australia.

The association, which represents not-for-profit or member-owned private health insurers, said a comparison based on the latest pricing data from France shows that prices for hip replacement components are 135 to 197 per cent higher in Australia. It said pacemakers are priced between 27 to 87 per cent more.

“The current situation is appalling and untenable. The data paints a shocking picture, suggesting vulnerable Australians in need of healthcare are being exploited and ripped off,” said CEO Matthew Koce said.

“The Albanese Government and in particular, Health Minister Mark Butler deserves to be commended for so quickly getting work underway on draft legislation that will for the first time hold the big powerful multinational medical device industry to account and protect Australian families.”

“The latest price comparison data is a major blow for consumers, providing a compelling justification for the legislative reforms underway to mandate fair prices that will put downward pressure on healthcare costs and help families with cost of living pressures.”

Mr Koce continued, “Due to outdated, manipulated and broken regulation, Australian private health consumers have been forced to pay more for identical medical devices available overseas for far too long.”