Southern Cross Health Society Group annual results reflect steep increase in demand for private healthcare

• Pressure in public health system drives demand into private healthcare sector

• More Southern Cross members claiming and claiming more frequently – claims costs increased 15% on FY23

• Claims paid at rate of $6 million per business day up from $5.2 million in FY23

• The Society Group reports a deficit of $88 million

• Membership continues to grow – 15,196 net new members with a total membership of 955,301

• Out of every dollar received in premiums, 93.4 cents were paid in claims, compared to an industry average (excluding Southern Cross) of 73 cents

“We have never been in more demand by our members as they prioritise their health needs, largely in the private system. In 2019 33% of our membership claimed, last year it was 50%,” he said.