Industry Analysis & Industry Trends
The General Practice Medical Services industry has grown healthily over the past five years. General practitioners (GPs) are the first point of contact in the medical system, providing direct treatment to patients or diagnosing problems and referring patients to a specialist or general hospital. GPs receive Federal Government assistance through Medicare, which covers a schedule fee for each consultation. The proportion of bulk-billed consultations, in which a GP only charges the schedule fee, has climbed from 79.1% in 2010-11 to an estimated 83.8% in 2015-16. This has been largely due to an increasing number of retirees visiting their GP as pensioners are more commonly offered bulk-billing than working-age adults.
Industry revenue is projected to rise at an annualised 4.1%... purchase to read more
Industry Report - Industry Analysis Chapter
The General Practice Medical Services industry has grown steadily over the past five years due to increased demand from Australia's growing population and the rising median age of the population. Both of these trends have driven increasing patient volumes, particularly as older people tend to use more general practitioner (GP) services. Patients pay minimal out-of-pocket expenses due to the assistance of the Federal Government through Medicare, which covers all or part of the cost of a GP consultation depending on a practice's price structure. Without any form of price signal, industry revenue primarily grows in line with demand growth and Medicare schedule fee changes... purchase to read more