nib holdings limited Head Office
22 Honeysuckle Drive
Newcastle NSW 2300
abn 51 125 633 856
t 13 14 63
f 02 4925 1999
e nib@nib.com .au w nib.com.au
14 November 2017
The Manager
Company Announcements
Australia Securities Exchange Limited Level 4, Bridge Street
SYDNEY NSW 2000
Presentation to UBS Australasia Conference - November 2017
Attached presentation delivered by nib at the UBS Australasia Conference (14 November 2017).
Yours sincerely,
Roslyn Toms
Company Secretary
For further information please contact:
Matthew Neat
Head of Corporate Affairs & Investor Relations T: +61 (0)2 4914 1777
M: +61 (0)411 700 006
E: m.neat@nib.com .au
UBS Australasia Conference14 November 2017
Mark Fitzgibbon
Managing Director & Chief Executive Officer
An inconvenient truthHealthcare spending across the entire OECD continues to grow at a per annum rate of
GDP plus 2%
- it has for more than
50 years.Australia currently spends in excess of
$170 billion per annum on health, with The Commonwealth funding more than
$74.4 billion.Overall our nation's health spending has been increasing annually at
6.99%(2006-2016 nominal 10 year CAGR).
A perfectly efficient system both allocative and technical will see nominal per capita spending increase
4-6%.Health spending today accounts for
more than 10%
of Australia's GDP.
Source: Australian Institute of Health and Welfare 2017. Health expenditure Australia 2015-16. Health and welfare expenditure series no. 58. Cat. no. HWE 68. Canberra: AIHW. 2
Real questionsHow are we going to pay for it given our heavy reliance on taxation and an accelerating welfare dependency ratio?
What level of inefficiency are we prepared to tolerate both allocative (e.g. unwarranted variation, avoidable
hospitalisation) and technical (e.g. price
variation, high transactional costs)?
How can we generally give consumers a greater sense of value (bang for buck) given taxation and premiums will inevitably increase?
3
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