Our results today reinforce that Medibank is a growing health company, with our customers increasingly recognising the value and health and wellbeing support we provide.
We’ve built two distinctive health insurance brands in Medibank and ahm that are growing by delivering more of what our customers and patients want, and customer engagement is strong.
We’re changing the way people in Australia experience health and wellbeing, delivering more accessible and affordable care options to support more people across all stages of care.
Our Amplar Health business has gone from strength to strength as we work towards building Australia’s leading multidisciplinary primary care network that delivers care in clinics, in homes and virtually. We took our next important step towards this with the acquisition of Better Medical, which has expanded our network to 168 GP and medical clinics nationally.
And we’ve continued to drive the health transition, pushing for meaningful reform that our health system needs to remain among the world’s best.
More value, more ways
As cost-of-living pressures continued, we’ve worked to deliver greater everyday health value to our 4.3 million customers.
- Saved customers almost $105m in out-of-pocket costs through our Members’ Choice networks
- Customers claimed $22.9m in Live Better rewards
- Saved customers $3.3m through our no gap network – with a 90% increase in the number of Medibank customers using the network year on year.
Early support to help people stay well
We continued rewarding healthy behaviours and investing in prevention to support people to be well and stay well.
- 227,000 enrolments in our everyday prevention programs
- Delivered 18,000 clinician-guided prevention services to customers, ranging from health checks to clinical programs
- Grew our Live Better rewards program to 1 million members to support their everyday health and wellbeing
Healthcare the way people want it
As we improve health access and affordability by delivering more services virtually, in homes and the community, more people are choosing to use them.
- Grew the number of Medibank resident policyholders engaging with our health and wellbeing services to 55%
- Delivered 2.3 million patient interactions through Amplar Health
- Saved 100,000 hospital bed days through homecare
- Expanded our Amplar Health Online Doctor service to all Medibank customers
Changing our health system for the better
We continued investing in and working with hospitals, health providers and funders to accelerate health system change – particularly through personalised models of care that shift treatment into virtual, community and home-based settings.
- Launched an Alcohol and Drug Detox at Home program
- Expanded our psychotherapy program for Post Traumatic Stress Disorder and Treatment Resistant Depression (TRD)
- Invested more than $163m to acquire Better Medical a group of 61 GP and medical clinics
- Expanded the delivery of out-of-hospital care for public patients on behalf of the SA government
- Provided hospitals with around $20 million in additional funding for care models that support the health transition
Key financials
Our growth has continued with improved momentum in our health insurance business and strong growth in Medibank Health.
Net resident policyholder growth was up 38,300 (+1.9%) with the last 6 months of growth more than double the same period last year. We added a further 1,500 policy units (+0.4%) in our non-resident business and remain an insurer of choice in the student market. Medibank Health’s continued strong performance is enabling us to reinvest with confidence to support future growth and is now contributing around 13% to Group earnings.
Our shareholders will receive an interim ordinary dividend of 8.3 cents per share fully franked (+6.4%).
For further information please contact
For media
Emily Ritchie
Hub Lead, External Affairs
+61 429 642 418
emily.ritchie@medibank.com.au
For investors/analysts
Colette Campbell
Hub Lead, Investor Relations
+61 475 975 770
investor.relations@medibank.com.au
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