Skip to main content Skip to main navigation
Medibank logo

2018

Annual review

Medibank’s annual general meeting will be held in Melbourne on 14 November 2018. The 2018 Notice of Annual General Meeting, webcast details and annual report are available on our Investor Centre.

Welcome

We are pleased to present Medibank's 2018 Annual Review.

Here you’ll find information about how we worked to enhance our products and services, improve healthcare value and expand our customer offering in 2018. You can also learn more about our people, our support of the community and our commitment to the environment.

Medibank’s ongoing focus is on continuing to deliver for our customers and to progress our transformation into a health services company. We look forward to sharing our progress with you next year.

Elizabeth Alexander AM
Chairman

Craig Drummond
Chief Executive Officer

Medibank management team

Business snapshot

Our purpose - Better Health for Better Lives

Ambition - To deliver Better Health for Better Lives we will:

  • Broaden the offering of our Medibank and ahm brands to deliver the best combination of products, services and advice for our customers.
  • Build a market leading health services offering for our customers.

Customers first

Our customers are at the centre of everything we do.

Show heart

We show compassion. We care for each other, our customers and our community.

Own it do it

We are accountable. We deliver on our promises, even when it’s hard. We make it happen.

One team

We work better and smarter together. More we, less me.

Business snapshot

Some key facts and figures for the 2018 financial year

$5.3b

Benefits paid to customers


Excluding risk equalisation

$35m

Additional value committed to customers


Includes one-off loyalty bonus, 100% dental give back, Medibank Health Concierge and Medibank at Home

3.88%


Lowest average premium increase in 17 years and below industry average for a second year running

4,155


Number of employees including around 1,500 health professionals

*Headcount following acquisition of Home Support Services in August 2018

26.85%


Market share at 30 June 2018

84


Number of retail stores, including 20 in regional areas

500,000+


Surgical procedures supported

23.8m+


Extras services supported

1.3m+


Hospital admissions supported

1.8m


Interactions with the community via phone, chat and email through our telehealth services

13,000+


Customers supported through Medibank Health Concierge during the year

21,000+


People living with chronic conditions supported through CareComplete to date

Priority Program


Launched to recognise 10+ year Medibank customers

Mental health support


Psychology waiting periods removed to help customers needing urgent support

On current extras products as at 1 April 2018

Medibank at Home


Expanded to give customers choice over how and where they receive their care

85%


Employee engagement (up from 81%)

45%


Proportion of senior leaders who are women

$3.7m


Community investment

3.7m+

Number of customers

Financial summary

All data is presented on a statutory basis

cents per share

Total dividend for 2018 (interim and final) fully franked

Group net profit after tax

($m)

Health Insurance premium revenue

($m)

Health Insurance claims expense

(excluding risk equalisation)($m)

Composition of 2018 segment operating profit

(%)

Health Insurance 91.9%
Medibank Health 8.1%

Health Insurance operating profit

($m)

Health Insurance management expense ratio

(%)