Medibank’s annual general meeting (AGM) was held in Melbourne on 13 November 2017. Our annual report is available at our investor centre.
We are delighted to present Medibank's 2017 Annual Review.
You will find information about our performance against our 2017 strategic priorities of strengthening the core, improving healthcare value and expanding our customer offering. You can also learn more about our people and commitment to the community and environment.
Our top priority in 2017 was our customers. We made significant improvements to the service, experience and value we deliver. This was just the start. There is more to do and we look forward to sharing our progress with you next year.
Our customers are at the centre of everything we do.
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.
We work better and smarter together. More we, less me.
“Medibank has an increasingly important role to play in helping our customers live healthier and happier lives. To do this, we are embracing a bigger purpose - Better Health for Better Lives.”
Chief Executive Officer
Some key facts and figures for the 2017 financial year
Benefits paid to our customers
Number of customers receiving greater value through new and extended benefits
including 640 health professionals
Number of full-time equivalent employees (As at 30 June 2017. Around 250 additional health professionals joined Medibank through our HealthStrong acquisition in July 2017)
improvement to two minutes
Average speed of answer in our customer service centre (Q417 VS Q416)
Number of interactions with Australians through our telehealth services
Hospital admissions supported
Surgical procedures supported
Extras services supported (Calculation based on different methodology compared to 2016)
Members' Choice hospitals
Members' Choice extras providers
Proportion of senior leaders who are women
Employee engagement (up from 78%)
Community investment including sponsorships and partnerships
Number of customers
All data is presented on a statutory basis
cents per share
Total dividend for 2017 (interim and final) fully franked
Group net profit after tax
* Excludes impairment and restructuring expenses in 2014 ($134.7 million before tax; $121.0 million after tax) in relation to the write-down of goodwill mainly associated with the Telehealth business and costs incurred in relation to the reorganisation within Medibank Health.
Health Insurance premium revenue
Health Insurance net claims expense
(including risk equalisation)($m)
Composition of 2017 segment operating profit
Health Insurance operating profit
Health Insurance MER*
* Management expense ratio