Industry Analysis & Industry Trends
The General Practice Medical Services industry has growth steadily 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 80.0% in 2011-10 to a projected 84.0% in 2016-17. This increase is largely due to an increasing number of retirees visiting their GP and the fact that pensioners are more commonly offered bulk-billing than working-age adults... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The General Practice Medical Services industry is in the mature phase of its life cycle. GPs provide essential medical services that may be either partially or fully subsidised by Medicare. Industry demand is driven by population growth and the ageing of Australia's population. Older people visit GPs far more often than younger people. With individuals aged 65 and over increasing as a percentage of the population, industry revenue has grown steadily.
Industry value added (IVA) measures an industry's contribution to the overall economy. IVA is forecast to grow at an annualised 3.4% over the 10 years through 2021-22, outperforming real GDP growth, which is forecast to rise at an annualised 2.6% over the same period... purchase to read more