nib holdings limited t 13 14 63 Head Office f 02 4925 1999 22 Honeysuckle Drive Newcastle NSW 2300 e nib@nib.com.au abn 51 125 633 856 w nib.com.au 8 November 2016 The Manager Company Announcements Australia Securities Exchange Limited Level 4, Bridge Street SYDNEY NSW 2000 Presentation to UBS Australasia Conference – November 2016 Attached presentation delivered by nib at the UBS Australasia Conference (8 November 2016). Yours sincerely Michelle McPherson Company Secretary/Chief Financial Officer
MARK FITZGIBBON 8 NOVEMBER 2016
EVOLUTION OR REVOLVING DOOR? 1
Insurers pay the same Consumers don’t Insurers and/or Doctors, hospitals and fee irrespective of know any better and policyholders mostly every other clinical clinical performance mostly don’t care pay whatever doctors provider have an and quality. (moral hazard). Have and hospitals demand economic incentive to little ability to assess based upon fee for drive volume. best option. Often service. Fee variation Treatment variation is think higher the fee is widespread. widespread. the better the doctor. Regulatory settings As only one payer and Digital platforms are Private health guarantee "floor due to regulatory only just emerging to insurance premiums prices" irrespective of constraints (e.g. help consumers make have been rising 5-7% clinical performance restriction on out of more informed per annum. Regulatory and efficiency. hospital care and risk choices around failure explains lack of equalisation) PHI has doctors, dentists and price competition: • little capability and other clinicians (e.g. Price signalling incentive to encourage Whitecoat). and risk implicit in approval process more integrated and • Risk equalisation holistic healthcare • Floor prices care. 2
PHI, States and Commonwealth Consumers and their GPs have at their payers together contract with GPs fingertips access to data on treatment (healthcare home) for the purposes options and choice of doctor, dentist of better managing “frequent flyers” or clinician. Information includes: • and reducing unnecessary volume. Fees and likely out of pockets • No one pays hospitals for “never Treatment volumes and experience • ever” events and other makers of Hospital sourced clinical poor clinical quality, such as re- performance data • admission within seven days. Patient reported experiences • Patient reported outcomes Consumers are more able to readily Some remediation of regulatory failure. transact with healthcare providers PHI premiums increase in range of (e.g. search, online bookings and 4-6%. payments). 3
Outcome customer measurement and transparency is key to driving down variation. Measuring multiple outcomes | Prostate cancer care in Germany Source: ICHOM �
Every Australian has a designated healthcare Healthcare has Additional foreign home. PHI, States and Commonwealth become all the more PHI companies collaborate and jointly fund: personalised operate in Australia • Systems and data integration (including courtesy of the and there is more personal electronic health record) internet of things, significant • Case managers and specialists human artificial intelligence integration with life resources (e.g. social workers) and genomics. insurance offerings. • GP incentives for improving health outcomes/ reducing costs Digital platforms DVA is outsourced Private hospitals Doctors and such as Whitecoat and operated by role in building and hospitals compete service both PHI and PHI. operating public with international social insurance hospitals is healthcare providers systems such as significant and but conversely, Medicare, DVA and accelerating. service many iCare. foreigners. Medical travel is growing. 5
“Medicare Select” is in place with PHI covering Private sector the entire healthcare spectrum. Insurers operates entire public compete for customers via product, service hospital system under and price. Public healthcare funding is centred contract. upon those who would otherwise be left behind via comprehensive Medicare cover delivered via PHI. Healthcare homes PHI coverage is People move freely are funded upon a mandatory and cross international capitation basis. also covers borders for healthcare. people globally. 6
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