On 21 September 2021, the ACCC authorised Honeysuckle Health and nib Health Funds (ASX: NHF) to form and operate a health services buying group.
The authorisation has been granted with a condition that major insurers are not allowed to join the buying group and the authorisation will be reviewed after 5 years.
Despite these limitations we believe the formation of this buying group signifies the commencement of managed care in Australia resulting in lower quality healthcare for Australians. Managed care is the predominant funding model in the United States and represents the most expensive healthcare system with poorer outcomes than Australian patients currently enjoy.
In our response to the ACCC the ASA expressed concern that this proposal would:
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|24 December 2020||Honeysuckle Health application to the ACCC, decisions and submissions|
|8 February 2021||ASA wrote to the ACCC regarding Honeysuckle Health and nib|
|N/A||An example of a response to the ACCC|
|29 March 2021||News Corp – HBF calls for caps on health insurance premiums|
|17 March 2021||Medibank and doctors form new no gap hospital joint venture|
|15 March 2021||News Corp – Australian health funds saved $18b during COVID-19 but may not return savings to customers|
|15 March 2021||MJA Insight – Honeysuckle health proposal is thin end of disastrous wedge|
|19 November 2020||The Conversation – How the US-healthcare system works and how it’s failures are worsening the pandemic|
|16 November 2020||MJA Insight – Australia’s move towards “managed care”|
|27 September 2020||SMH – Care in-the-home plan sparks warning of US-style health model|