Healthcare in Australia

A variety of medical facilities and services are included in the Health Services. With more than half of Australia's health services revenue coming from them, general hospitals are the main source of income. Clinical specialists, dentists, and general practitioners (GPs) are important sources of income for the market. The COVID-19 pandemic hindered market’s expansion as health services diverted resources to contain the virus, despite Australia's growing and aging population increasing demand for health services in recent years. The revenue is anticipated to increase overall to $202.4 billion over the five years to 2023–2024, an annualized 1.2% increase (IBISWorld). This soft growth rate is a reflection of the COVID-19 pandemic's knock-on effects, which include supply disruptions brought on by regional and national lockdowns, surgical restrictions mandated by state governments, and increased staff absenteeism due to isolation requirements. It is anticipated that inflationary pressures may result in zero (0.0%) growth in inflation-adjusted terms in 2023–2024. The rising cost of living may cause many Australians to put off non-essential healthcare services.

Individuals 65 years of age and older tend to have higher rates of private health insurance coverage and use health services more frequently than younger people. As people age, they naturally become more prone to illness and health problems. As a result, the demand for various health services has increased due to the growth of this older demographic.