The high-stakes health commerce market has been the subject of much speculation since the Australian government announced its plan to introduce Medicare for all in 2020.
The government’s plan, announced in July, will see Australians buy in to a $10,000 Medicare rebate for all Australian adults and children over the age of 55 who have a pre-existing condition and have a medical condition requiring care, with the first person to buy a new drug, or a new device, get a rebate of up to $5,000.
The rebate is designed to encourage Australians to get their care covered under the health system and to pay the full cost of health services.
It is set to start from a fixed rebate of $4,400 per annum per person, with more money set to be added as people pay more.
But in the coming weeks the government will announce a new rebate for the Medicare Advantage scheme, which has been under pressure in recent months due to the lack of competition.
Health commerce is a highly fragmented sector with no single entity that is truly independent of the health sector.
In addition to the $5 billion that is earmarked for the system in 2020, the government has committed another $3 billion over the next two years to improve competition in the sector, which is still fragmented.
What’s the impact of this?
This week’s announcement is an attempt to bring more competition to the sector.
In the coming months the government plans to announce a rebates scheme for the health market for Medicare Advantage, which will see the rebates rise in 2018.
The rebates will also see the government provide incentives to help people buy and use a new type of health device called a medical device.
This device, which was introduced in the UK, allows people to get more care at home when they are not at work.
The health commerce sector is growing.
The sector is expected to grow by 20 per cent over the forecast period and by a further $2 billion in 2021-22.
However, the number of health professionals is forecast to increase by 1.5 per cent in 2021 and by 1 per cent by 2021-23.
As we get closer to the 2020 date, the impact on the industry is expected be greater.
There is also the potential for some of the biggest health business players to make a huge financial loss.
According to the Australian Industry Group, health commerce has the potential to have a negative impact on their bottom line.
Is there a plan to address this?
There are several steps the government is taking to improve the health commerce business.
For one, the Australian Medical Association and its lobby group, the Health Industry Australia, have published a report called “A Vision for Health Commerce” which outlines what the government needs to do to ensure health commerce is competitive.
This is the first time the AMA has written an open letter to the government.
Another priority is to strengthen Medicare Advantage and the health services market, which includes the Medicare Rebate Scheme.
“This is a market that needs to grow in line with the growth of the Australian economy, and we want it to grow the fastest,” said Dr. Paul Bannister, president of the AMA.
He added that the industry must not be left behind.
“We need a new system, a new marketplace that’s more competitive, where you’re going to be able to make the investments in new equipment and new products and new services,” he said.
While the government said it was committed to improving competition, the AMA is not backing down.
“The Australian Medical Group is strongly opposed to the Medicare rebate scheme, and will continue to fight against it,” AMA national chief executive Dr. Michael Gartland said in a statement.
“Health commerce will not succeed unless there is competition, and the AMA strongly opposes the Medicare rebate scheme.”
The AMA also wants the government to ensure the rebate scheme is not set up to benefit incumbents.
“It will be very hard to find someone who’s been in the industry for 40 years who is not a major beneficiary of this scheme,” Gartlanders said.
“If we want health commerce to be competitive and efficient, then it needs to be a system that works for everybody, and that includes people who are not incumbents.”
Is the public prepared for the changes?
The Medicare rebate will not come into force for another 12 months, meaning there is no guarantee that the rebate will be introduced into the market before 2020.
However, the Government is hoping to introduce it into the Australian market by 2019, with Medicare Advantage expected to come into effect in 2020 as well.
According to the AMA, there are currently 3.2 million Australians enrolled in Medicare Advantage.
The bulk of this is from patients in private health plans, and they will be able buy into Medicare Advantage through a new insurance company.
But there is also an increased demand for health products, particularly