Medibank Private is Australians Government owned company which was formed by the Labor party of Australia in June 1976. In October 1976, it starts operation under the Fraser government. It main purpose was to provide private medical and hospital insurance in all sectors to overcome the existing health insurance. The medibank private operator was the Health Insurance Commission (HIC) (Cavill, 2014) Medibank private is the larger health insurance in Australia with around 3.8 million members. In 2006, the Howard’s government intended to sale the medibank private company. This year, the Abbot government announced to privatise medibank to increase a better values and health outcomes to a competitive and an efficient in a private health insurance company (Whitfield, 1983). Argued that, privatisation has been a proved by the international trend, as more valuable assets than the public sector. It is well organised method to promote durable welfare and public services in the interest of capitalism. This paper will discuss the effects of privatisation on the market competition, high quality in health sector, less regulation and the residual risk and liabilities.
The Medibank Health Company is owned and run by the government as the market regulator and funds the activities as well (Deakin, 2014) stated that, the Government believes medibank has no well-organized reason to continue the services in public sector. The government experiences more Competition and workload in the management of the industry. According to The government intentions to privatise medibank, in order to perform well in the market and reduce the conflict of interest that exists within the government (Buc...
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Industry Commission (1997) "Private Health Insurance", Report No. 57, Canberra, Australian Government Publishing Service.
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Parker, D (1999) "Regulation of privatised public utilities in the UK: performance and governance", International Journal of Public Sector Management, Vol. 12 Iss: 3, pp.213 -236.
Scotton, R.B 1976, ‘Medibank’ the Australian Economics Review, 1st quarter, 1977.
Whitfield, D 1983, making it Public: Evidence and Action against Privatisation, London: Pluto Press.
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