MEDIBANK PROFIT RISES 46%, BUT NEW CEO SAYS 'WE NEED TO DO MORE'
Written on the 19 August 2016 by Laura Daquino
MEDIBANK Private (ASX: MPL) has reported a 46.4 per cent increase in net profit after tax, although its new CEO is realistic about the challenges ahead for the business that is currently tied up in Federal Court.
"We can't make any comment on that because it is before the courts, but for us the timing of the announcement wasn't great because it came in June, the middle of our biggest selling period," said Drummond.
"Some challenges remain with the value we offer to our customers. What is clear is that we need to put our customers at the centre of everything we do.
"We need to reorientate the organisation towards our customers. I don't think I could be any stronger on that."
Medibank is banking on its new system, which is currently being developed by IBM, to patch up points of customer frustration. But he also says 'a number of frustrations are actually industry-related issues', referring to cost inflation in the healthcare system.