How is Medibank keeping its own costs down?
We know how important affordable health cover is to you and have been working to provide better support and value for members. In order to do so, we’ve worked hard to take costs out of our business and delivered $20 million of productivity savings in the 2020 financial year. We have also committed to another $50 million of cost reduction over the next 3 years.
We’ve worked hard to reduce costs as a deliberate strategy to provide our product at the best possible price for our customers. For example, our members wanted more control over where and when to get treatment, so we developed Medibank at Home, a group of trial programs that bring hospital care right into the homes of our eligible members, where available, providing them with choice and flexibility over where they receive their treatment.