New hospital-insurer partnership announced

MedTech & Diagnostics News: St Vincent’s, a member of Catholic Health Australia and the nation’s largest not-for-profit health and aged care services provider, has announced a new partnership agreement with private health insurer Bupa.

The hospital group which had also threatened to walk away from its contract with NIB over a pricing dispute, said recently that both sides had reached a new deal which recognised the rising costs of providing private hospital care.

The two-year deal will cover Bupa’s customers at St Vincent’s 10 private hospitals in NSW, Victoria, and Queensland.

St Vincent’s CEO Chris Blake said “This agreement demonstrates that collaboration and partnership between hospital providers and health insurers remains achievable and can drive better health outcomes.

“It’s a partnership that supports the viability of our hospitals – particularly our regional services – while giving Bupa members access to some of the best private healthcare in Australia.

“Our partnership with Bupa has always been about more than just financial arrangements. We are both committed to working together to add value for customers – our patients – and moving private health forward,” Blake said.

Under the new partnership, St Vincent’s and Bupa will work towards trialling a short-stay hip and knee program at several St Vincent’s hospitals. St Vincent’s has also extended its digital mental health service, This Way Up, to Bupa customers for treatment of critical issues such as anxiety, depression, and insomnia.

Bupa Health Insurance Managing Director, Chris Carroll, said “Working alongside St Vincent’s, we’ve strived to put in place a partnership that puts patients first and helps ensure our customers have access to affordable and high value care.

“We want to be a true partner in our customers’ healthcare, and partnerships like this help us innovate and respond to meet the changing health and wellbeing needs of Australians, now and into the future.

“This shows what’s possible when hospitals and health insurers work together to address the current challenges facing our sector. This includes addressing increased private hospital costs while keeping our customers’ premiums as low as possible, particularly in light of current cost-of-living pressures,” Carroll said.

Blake said hospital providers and health funds had roles to play to help safeguard the private health system.

“Everyone understands Australia’s private health sector, as with the broader health system, is undergoing a period of transition at the moment.

“For private health care to operate effectively, health funds and hospitals need to work together, and on an even playing field. That’s where this agreement springs from, the goal of putting patient care first, and supporting the sustainability of our sector,” emphasised Blake.

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