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 Key Buyers Chapter
The industry is characterised by a low level of market share concentration and a high degree of fragmentation. The industry's four largest players account for less than 10% of industry revenue. The industry is made up of many small-scale businesses that are closely tied to community needs. According to the Australian Bureau of Statistics, just over half of general practices operated as sole proprietorships and only 0.9% of general practices had 20 or more employees in June 2015.
While the industry is consolidating as the market share of larger players is growing, Medicare continues to allow smaller practices to remain viable despite lower economies of scale... purchase to read more