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News & Trends - MedTech & Diagnostics

Prostheses List reforms and sustainability of private healthcare high on medtech sector agenda ahead of Federal Budget

Health Industry Hub | February 8, 2023 |

MedTech News: The Medical Technology Association of Australia (MTAA) has raised several issues impacting the medtech sector and the broader care for patients in its pre-Budget submission.

Ian Burgess, CEO of MTAA joined Health industry Hub to discuss concerns relating to the current cost recovery funding model for the TGA, the anticipated impact on the medtech sector and the availability of innovative technologies for Australian patients.

Mr Burgess reflected on the Prostheses List (PL) reforms which have been complex and challenging, involving a diverse range of stakeholders. Fifty-one per cent (51%) of medical devices on the PL had a benefit reduction on 1 July 2022, with further reductions to follow on 1 March and 1 July 2023. Savings of over $80m will be delivered in 2022-23. The MTAA pre-budget submission points to several issues relating to the PL reforms.

As we face significant challenges across the broader healthcare ecosystem impacting patient care, Mr Burgess acknowledged the evolution in the digital health sector since 2020 and the potential impact of enhancing care. However, local regulation and reimbursement frameworks remain a key barrier to broader reimbursement of digital health applications for use in the community and uptake by clinicians and consumers. Mr Burgess discussed the impact on the medtech sector and MTAA’s recommendations to government on this matter.

A reform agenda “with a whole government approach” is critical to drive a sustainable health sector. Mr Burgess said the MTAA is urging the government to implement several measures, including a Private Health System Authority, to oversee private health insurance “to increase sustainability, improve the value proposition and to protect patients.”

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