GMHBA's 10 Year Strategy
As GMHBA plans for the future, we are pleased to announce the launch of our new 10 Year Strategy.
The strategy marks the beginning of an exciting time for GMHBA as we foster a new business model that offers more affordable, personalised and holistic products and services.
GMHBA's 10 Year Strategy outlines our plans to deliver a strong and healthy business, along with providing more choice and opportunity for our members, at all stages of life.
The long term health and financial interests of our members have been driving factors in the creation of our new strategy, which has been developed over a number years.
In 2014 GMHBA celebrates 80 years. A strong strategy of growth and development will ensure that we continue to protect the health interests of our members for another 80 years.
Ultimately our vision is to be Australia's leading regionally based health fund. To achieve this vision, our 10 Year Strategy outlines five key priority areas:
1. Core Health Insurance: A focus on our products and member relationships
Over the next 10 years, our strategy commits us to keep doing what we do best – delivering Australia's best value health insurance.
With our constant aim of being the market leader we will deliver:
- Products that meet the individual needs of our members
- Simpler, easier to understand products and information
- More choice and better value
- The highest standards of customer service
With 80 years of experience, we know what it takes to be a leading health fund.
For us the key to our success and your health is recognising that everyone is unique, and that our products and services need to always reflect this.
Over the next 10 years, you will see an evolving range of health insurance products and services that will provide more flexibility to choose a cover that suits individual needs and budgets.
We are proud to have an Australian-based call centre and a presence in local communities via our branch network.
To further enhance our service delivery, we will continue to explore and invest in new and innovative technology to make it easier and more convenient for our members to obtain the information, services and support they need, when they need it.
2. Health Services and Outcomes
More and more, individuals and health funds alike are recognising that prevention is better than a cure and that engaging in preventative health initiatives is critical to sustainable community health.
Therefore over the next 10 years, GMHBA will deliver initiatives such as Care Coordination services, staffed by Registered nurses to help you navigate the healthcare system after hospitalisation, as well as offer various chronic disease management programs, and much more. It's good for us and good for you
We will also continue to drive and support community-based healthcare initiatives such as organising free health seminars and providing free fitness sessions.
While prevention will always be a priority, when members do get sick you can be confident that we will always look for providers to compete on quality of care and service at the best cost to GMHBA and our members.
Over the next 10 years we will be delivering a new and diversified business model to add further value and choice to all members.
The new GMHBA business model will see us diversify into new areas of healthcare products and services as well as new areas of insurance.
When it comes to health services, we are exploring some exciting opportunities to finance, partner and where relevant provide advice, coordinate and sometimes deliver front line health services that may include:
- General Practice medical care
- Chronic disease management and care
- Fitness and health services
- Eye Care and dental services
Through diversification we can provide better and more affordable health outcomes for our members.
All Australians understand that we have an ageing population and we all want to live longer and in good health; we also understand that as we age our health needs change and this has impacts on all aspects of life.
Just like all insurers, GMHBA has a large proportion of its membership who are "baby boomers" who will start to move into the next stage of their life.
Unlike most insurers though, GMHBA doesn't just want to wait for and pay for the inevitable higher health costs of ageing, when we could actually do something about helping these members age well.
Over the next 10 years GMHBA will develop an aged care services business that includes:
- Advisory services
- Home care services
- Retirement accommodation
This is a more holistic approach to private healthcare that bridges between member's needs, insurance products and accessible and affordable care.
It is an approach that will not only provide enhanced health benefits for members, but it will allow GMHBA to remain a strong and competitive organisation long into the future.
4. Capital Management
A healthy financial business is key to delivering value back to our members.
For over 80 years we have been a responsible investor of funds on behalf of our members and we will continue to do this to ensure a financially strong and viable organisation.
We pride ourselves on always putting people before profit. As a not for profit health fund, any surplus we make is reinvested to maximise the value we deliver to you.
Our commitment over the next 10 years is to always use available capital to deliver value for our members through improved benefits, investing in future infrastructure, or just to make smart investments that deliver a sound and secure return on capital.
5. Policy Advocacy
GMHBA is committed to playing a leadership role in championing the importance and benefits of investment in healthcare and regional communities.
My Cover Matters was a critical turning point for GMHBA and our members. It gave us a collective voice on the national stage.
Through leveraging our regional strengths, we will contribute to the national agenda, shape regional priorities and drive better outcomes for our members, regional communities and the private health insurance sector.
Over the next 10 years we are committed to our role as a voice on the national stage for private health insurance consumers. We will continue to represent your interests at the highest levels of government.