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#Industry/competitors
Preliminary report on the health of private hospital system in Australia. This post pertains to the private health industry generally, not Ramsay specifically
Its not really all that helpful, but a few key points:
- Median EBITDA margin (p50) has fallen from about 10% to 5% in 5 years (see graphic)
- Private obstetric and mental health facilities under greatest pressure
- Private hospitals provide 70% of elective surgeries. Statements by Mark Butler distancing the government from success or failure of private enterprise ignore the inevitable link between public healthcare pressures
- Day surgery cases growing much faster than expected overnight admissions - look for private hospitals which provide innovative hybrid/virtual overnight stays to transition more patients out of hospital at night ($RHC is oversupplied in overnight beds I think)
- Expect greater pressure on insurers to contribute more to private hospitals
- Expect insurers to continue pushing for insurer-hospital partnerships to introduce US-style managed care products (generally considered a bad thing for patients). NIB tried and failed very recently to introduce such a scheme, but Im sure is still working on it
