Posted by Michael Wonder on 01 Dec 2019
Private health system in a 'death spiral', says expert, but what can be done to save it?
30 November 2019 - George Savvides, who ran Medibank for 14 years until 2016, describes the exodus of young people from private health insurance as akin to “a climate change event in the health system".
The Grattan Institute health economist Stephen Duckett is more blunt, saying the trend has put the private system into a "death spiral" and that urgent surgery is required to save it.
Whatever the turn of phrase, the symptoms are clear: the rising cost of hospital treatments is leading to higher health insurance premiums which people - particularly young ones facing anaemic wage growth - can't afford to pay.
