PACEMAKERS are now almost $3,000 cheaper for Australians with private health insurance.
The prices of medical technologies which help treat conditions such as heart and lung disease, diabetes, bone cancer, eye trauma and arthritis dropped on February 1 as part of an ongoing agreement..
In addition to pacemakers, the new discounted prices cover equipment such as insulin pumps, replacement hip joints, airflow valve systems, artificial leg bones and glass eyes.
The discounts are a result of Medical Technology Association of Australia's (MTAA) 2017 agreement with the Federal Government, which plans to produce $1.1 billion in savings by 2022.
MTAA chief executive Ian Burgess said the price drops applied to around 7000 types and brands of medical technologies used in millions of procedures in the private system each year.
He said the announcement of the latest price drops debunked claims that the cost of medical technologies continued to rise.
"This is further evidence that when governments work with the medical technology sector, patients get a good deal more," he said.
He said medical technology was continuously evolving and was just as much about improving lives as saving them these days.
"Increasingly, medical technology is being used not just to save lives, but keeping Australians more mobile, social and now, working for longer," he said.
The latest discounts include:
Pacemakers: Currently $35,132 - a reduction of $2,848 since Feb 1 and $12,343 since 2017
Insulin pumps: Currently $8,574 - a reduction of $451 since Feb 1
Replacement hip joints: Currently $8,351 - a reduction of $393 since Feb 1 and $853 since 2017
Airflow valve systems: Currently $5,686 - a reduction of $299 since Feb 1 and $614 since 2017
Artificial bone (leg): Currently $7,066 - a reduction of $181 since Feb 1 and $428 since 2017
Artificial glass eye: Currently $1,741 - a reduction of $92 since Feb 1 and $189 since 2017
For more information call (02) 9900-0600 or click here.
