Medibank leaders predict healthcare trends for 2024

Medibank leaders predict healthcare trends for 2024 | Insurance Business Australia

Life & Health

Medibank leaders predict healthcare trends for 2024

Collaboration across various sectors of the healthcare system emerges as focal point for driving innovation

Life & Health

By
Roxanne Libatique

Medibank leaders have shared perspectives on the changing landscape of healthcare in Australia, stressing the need for heightened innovation to ensure widespread access to quality and affordable healthcare.

Medibank CEO David Koczkar acknowledged positive shifts within the health system while emphasising the urgency for swifter progress to meet diverse Australian healthcare needs.

“When it comes to healthcare, the saying that the whole is greater than the sum of parts has proven itself over and over again,” he said.

Technological innovation

Kylie Williamson, head of data and technology at Medibank, highlighted the increasing role of technology in patient-focused healthcare.

“One of the most exciting trends we’re seeing internationally is care orchestration – using technology to better coordinate the healthcare journey for patients and reduce the need for them to try and manage the complexity and fragmentation that exists within the health system. Adding to this is the evolution of personal diagnostics and monitoring technology, which can support much more sophisticated forms of care in the home and community,” she said.

Additionally, artificial intelligence, particularly generative AI, is expected to find practical applications supporting decision-making and productivity.

Rob Read, from Medibank’s Amplar Health brand, emphasised the potential of technology-driven prevention programs to enhance the health of Australians, reduce pressure on primary care and hospital systems, and transform the healthcare landscape.

“This shift from reactive to proactive approaches to healthcare will be a strategic priority for providers in 2024, a reform that will result in a healthier country and relief for our health system,” he said.

People trends

Kylie Bishop, responsible for people, places and sustainability at Medibank, discussed the impact of employee trends on the market.

“While unemployment in Australia is at a near 50-year low, employee trends and a stronger employee voice about what’s important to them will continue to drive the market,” she said. “It’s how employers respond to these trends that will differentiate organisations as they compete to attract and retain talent. People are increasingly wanting greater flexibility, autonomy, and transparency from their employer, and rightly so.”

Meaghan Telford, in charge of policy, advocacy and reputation, emphasised the critical role of innovation in health policy.

“Ensuring healthcare consumers are the drivers of change is fundamental to improving our health system, but if we are to meet the expectations of our community, then we need to embrace change at a faster pace,” she said.

Chief customer officer Milosh Milisavljevic added: “Consumerisation of health is an important shift that will improve access, affordability, and outcomes in health. We know that more engaged and empowered people do a lot better in every part of their health.”

Other trends

Rob Deeming, overseeing digital and ventures at Medibank, explored the Quantified Self trend, where individuals seek to understand their health better. The data generated holds potential for health providers, including Medibank, to offer more personalised and engaging health experiences, raising important questions about privacy and data ownership.

“The aspect I find most interesting is what happens to all that data – today that data is used predominantly for comparing performance in some form or another,” he said.

Mei Ramsay, responsible for trust, legal and compliance, emphasised the growing concern for personal data usage.

“As more businesses enhance their privacy training, processes, and practices, we’re also likely to see an increasing focus on data ethics – with businesses looking at their use of data not only from the perspective of whether it ‘could’ be done legally, but also whether it ‘should’ be done from an ethical perspective,” she said.

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