Conditions rise but confidence, orders remain low
Insight
Industry research and insights for the Health sector.
Conditions rise but confidence, orders remain low
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The NAB Australian Wellbeing Index fell in the final quarter of 2023.
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Labour mobility has slowed as concerns around job security rise.
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We recently ran a NAB Health Cyber Security Awareness webinar. Please find the recording below.
Webinar
Conditions dip below average, price growth ticks up
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Jade Ek used the experience managing her husband’s dental practices to step out on her own. Launched in 2006, her Supreme Dental Group has been on a growth trajectory ever since.
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Business conditions cool as retail price growth slows
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Confidence slides but conditions still above average
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The latest NAB Health Insights Special Report takes an in-depth look at health consumer attitudes and satisfaction levels. It’s a revealing investigation available for download now.
Report
NAB’s digital claims solution has enabled a system of fast, transparent payments for healthcare practitioners, government schemes and the communities they support.
Article
Confidence remains low despite healthy conditions
Growth holding up but subdued year ahead
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Household financial stress eases after rising for the past 6 quarters as Australians grow more accustomed to a number of ongoing pressures, but financial concerns are still climbing among lower income earners.
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It took a brave relocation to regional NSW to kick-start Fawaz Khodary’s pharmacy career. Today, it’s paid off handsomely as he and his three pharmacist siblings grow their Your Discount Pharmacy brand.
Article
Job switching & intentions, employee satisfaction, working from home & perceptions of collaboration & productivity.
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HICAPS exciting next chapter: Integrations to Best Practice & Medical Director.
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Cost pressures ease amid resilience in activity
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This article first appeared in the Australian Financial Review.
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This article first appeared in the Australian Financial Review.
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This article first appeared in the Australian Financial Review.
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This article first appeared in the Australian Financial Review.
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This article first appeared in the Australian Financial Review.
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Employment index rises as resilience continues
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The latest NAB Health Insights Special Report (Part 3) provides an exploration into Australian consumer e-health usage and satisfaction levels. The report is now available for download.
Report
This article first appeared in the Australian Financial Review.
Article
Conditions still above average despite warning signs.
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Very slow growth likely across the states in 2023-24
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Beyond GDP: Insights into wellbeing, and the role money and finances play in our lives
Conditions still above average despite warning signs
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Henry Bateman built his first Cornerstone Health medical centre to make quality primary care accessible to everyone. Seven years and 13 centres later, the combination of bulk billing, extended hours and a range of on-site services has proved a winner for patients and practitioners alike.
Article
Worrying signs of a slowing in activity
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Our economists stayed up all night so they could break down the Federal Budget for Australian businesses. Watch their take.
Webinar
It was a big Budget for health, with significant support for bulk billing GPs, a focus on prescription costs and salary increases to attract more aged care workers.
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Conditions slowly normalising but still high for now.
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Beyond GDP: Insights into wellbeing, and the role money and finances play in our lives.
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It was always going to be a bold move: launching a privately owned emergency clinic. Dr Pankaj Arora shares why he launched WiSE clinics, how he funds them and what’s behind their 5- to 10-minute window to see a doctor.
Article
Conditions hold up, price pressures ease
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Population rebounding but growth slowdown looms
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Confidence volatile but conditions still strong
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Australians are more focused on preventative health than ever, presenting opportunities for businesses and practitioners. But there is still room for improvement and financial incentives may hold the key.
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Do Australians have a preventative health mindset? Find out more in the latest NAB Health Insights Special Report (Part 2) available for download.
Report
Beyond GDP: Insights into wellbeing, and the role money and finances play in our lives.
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New-year confidence boost as resilience continues
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Economy beginning to slow; inflation peak passed
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While practising in the NSW outback, doctors Hamish Meldrum and Ross Lamplugh had a passion to improve rural and remote healthcare. Today, the result is Ochre Health - a national network of 65 medical centres and two medical recruitment businesses. And they're not done yet.
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NAB senior leaders discuss the 2023 business outlook and where the opportunities will lie.
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Confidence now negative, despite strong conditions.
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Highlights from our latest NAB Health Insights webinar and the NAB Health Insights Special Report available for download.
Webinar
Conditions still strong but confidence weaker
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Beyond GDP: Insights into wellbeing, and the role money and finances play in our lives.
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COVID disruptions continue to fade while growth remains strong and labour markets are tight everywhere
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The smart plays that are seeing a cosmetic medicine operator deliver to 20,000 customers a year.
Article
Conditions roar as costs show signs of easing
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No signs of slow down yet as strong conditions roll on.
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“I feel very fortunate to do what I always wanted to do.” President of The Australian & New Zealand Association of Oral & Maxillofacial Surgeons Dr Patrishia Bordbar tells us about her incredible journey from a young girl in Iran to her career today as a renowned surgeon.
Article
A volatile night where earlier price action in Asia was largely reversed.
A broad rise in core global yields has been the big news overnight, fuelled by a better-than-expected US ISM report and news UK PM Truss is planning a huge debt-funded fiscal stimulus.
Eurozone bonds yields and stocks falling on the latest jump in energy prices – both oil and gas – following confirmation the NordSteeam1 gas pipeline will remain shut while Russian sanctions are in place.
A goldilocks payrolls report failed to support risk assets on Friday, with equities and the USD quickly reversing on news that Russia was not restarting gas flows through the Nord Stream pipeline
The bond sell-off shows no signs of abating with a stronger than expected US ISM Manufacturing helping to drive the US 10yr yield up.
August has been a terrible month for balance fund investors with no diversification gains from holding a portfolio of equities and bonds.
Goldman’s noted inflation could hit 22.4% y/y in the UK in early 2023 if gas prices don’t moderate and if there is little in the way of cost of living relief.
The “Great Resignation”, Working from Home & Returning to the Office
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Confidence & conditions rally as economy strains capacity limits
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Beyond GDP: Insights into wellbeing, and the role money and finances play in our lives.
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This article first appeared in the Australian Financial Review. By James Dunn.
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This article first appeared in the Australian Financial Review. By Alexandra Cain.
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Business confidence falls further while conditions hold up.
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Global Central Banks have been lifting interest rates to combat 40-year high inflation numbers. What does this mean for commercial borrowers? Watch now.
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This article first appeared in the Australian Financial Review. By Ian Grayson.
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Global Central Banks have been lifting interest rates to combat 40-year high inflation numbers. What does this mean for commercial borrowers?
Webinar
This article first appeared in the Australian Financial Review - Mark Eggleton
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Confidence eases but conditions and outlook remain strong.
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The bank that the Health sector trusts
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The Reserve Bank of Australia (RBA) has started raising rates for the first time since November 2010. What does this mean for commercial borrowers? Watch now.
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Australia’s wellbeing falls, but the gap by income now at its narrowest in almost 3 years. Wellbeing diverging across the country, highest in TAS & lowest in WA. Home ownership a significant differentiator. Household financial stress up slightly but falling for low income earners & rising sharply for those on higher incomes. The share of Australians experiencing some form of financial hardship now at a survey low.
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Conditions rise further on Recreation & Personal Services recovery.
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Conditions surge higher as costs, prices hit records.
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The changing workplace - attitudes to jobs, working from home & barriers to returning to the office.
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More space, more people, more practices – which growth strategy is right for you? Vet Judy Harbison and dentist Nicole Yuen share their different routes to success.
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COVID disruptions have continued but State economies have been resilient and labour markets are strong.
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Activity, employment strengthen as prices push higher.
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This NAB Private Wealth webinar delivers insights into Cyber Security and Fraud.
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Wellbeing rose in Q4 to levels last seen before the pandemic & household financial stress remains well below the survey average.
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Despite everything the COVID-19 pandemic has thrown at the small business community the spirit of entrepreneurship is alive and well in Australia.
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Peter Loukas, Property Executive NAB presents his insights on the residential property survey.
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Conditions deteriorate as Omicron peaks.
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We look at the domestic and global interest rates outlook for 2022 and why interest rate risk management is an important consideration for many businesses.
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Omicron dampens confidence, price pressures continue.
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Australia's wellbeing levels fall sharply as lockdowns bite in several states. But financial stress has eased & fewer Australians are experiencing financial hardship.
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Conditions stabilise as reopening progresses
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NAB senior leaders discuss the economy and the opportunities for business in 2022.
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Healthcare stands on the cusp of a technology-driven revolution. And Australia is already taking its first steps into this exciting new future.
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Conditions and confidence rise out of lockdown.
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Confidence rebounds on the back of roadmaps, vaccination.
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Corporate care, also known as the integrated health model, radically altered the care model of General Practice. Twenty-five years later, how have multi-disciplinary practices proved their worth for patients and practitioners?
Article
Confidence and conditions tick up.
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From a standing start, Australia’s pharmacists have dispensed 6.5 million electronic prescriptions since May 2020. And that’s unleashed patient demand for even more health services.
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Highlights from our latest healthcare industry event.
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Discover the nation’s attitudes to health and healthcare in our comprehensive survey.
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Read the latest findings on the nation’s attitudes to pharmacies and their role in healthcare.
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Confidence and conditions fall further with ongoing lockdowns.
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Wellbeing up & now at its highest level since 2019. Resilience is building, but wellbeing is falling for the unemployed & low income earners. NSW lockdown a key risk.
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It’s not hard to see why integrated primary health care is gaining traction in Australia – co-located multidisciplinary teams can deliver big benefits.
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Confidence falls on virus fears.
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A new phase of growth emerges across the states following a fast rebound.
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Better for patients, practitioners and taxpayers, value-based healthcare takes a more holistic approach to funding and treatment – and it’s gaining momentum.
Article
Business conditions continue to boom.
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It’s set to be one of the fastest-growing areas of innovation – and Australia has what it takes to be a world leader. Here’s how we could step on to the digital health global stage.
Article
Business confidence and conditions hit new highs.
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Working from home can significantly improve work life balance, however, can also bring on other health concerns, particularly for mental health and feelings of isolation.
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Opening a medical practice – or two, or three – can be exciting… and nerve-racking. Longstanding NAB Medfin banker Jason Savage shares his views on how to set yourself up for success.
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Business conditions reach a record high.
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This time last year, the nation’s hospitals braced for a potentially overwhelming crisis. We look back at their response to COVID-19 and which changes could be here to stay.
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Business conditions bounce, confidence rises further.
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Insights into financial anxiety & the role our household finances play in our wellbeing.
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We all value our time, but some of us feel we are under more time pressure than others.
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New NAB research reveals over 4 in 10 Australians felt they needed help for their mental health
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Doctors depend on their patients to tell the truth, but research shows many don’t. Could discussing ailments with a chatbot be the answer?
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Business confidence rises, while conditions pull back.
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Business conditions improve to multi-year highs.
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Recovery from COVID-19 continues across Australia
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It was the biggest health crisis in a generation yet, during the worst of the 2020 pandemic, many primary care practices were quieter than ever. As recovery gets under way, we study COVID’s current and future impact on operating a healthcare business.
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NAB senior leaders discuss the economy and the opportunities for business in 2021. Watch the video now.
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Further gains as the economy continues to open up
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Financial anxiety falls to its lowest level in 2 years. But concerns are much higher for Australians who have lost their income due to COVID-19.
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How COVID altered health behaviours – and health businesses.
Article
Wellbeing diverging markedly across the country.
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NAB launches a new measure of business wellbeing.
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A desire for social connection is fundamental to our wellbeing; being deprived of it can pose significant mental and physical consequences.
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NAB's annual Consumer Health survey of over 1000 Australians provides a unique insight into Australia's health system through the eyes of those that rely upon it - patients.
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NAB's research in collaboration with the Pharmacy Guild of Australia demonstrates how pharmacies have become more important to their community than ever before.
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NAB’s latest in-depth report reveals how Australians and the health system are coping with COVID-19.
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Insights into Australia's Pharmacy sector post COVID-19 through the eyes of pharmacists.
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Does COVID-19 have the power to change thinking on how we tackle chronic disease?
Article
Latest restrictions will hit Victoria’s economy hard, but COVID-19 has impacted all states.
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Three months of lockdown did more for remote healthcare than 10 years of discussion.
Article
Financial Anxiety falls to below survey average levels in Q2 2020.
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Podcast: How the health care sector can lead through and beyond COVID-19.
Podcast
Wellbeing up as restrictions ease, but inequality remains. Young men the loneliest in Australia.
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Analysis of the impacts on of the COVID-19 crisis on health and allied practitioners.
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Listen to podcast: As restrictions ease, how can small businesses rebuild their finances?
Podcast
New podcast: Australian health sector’s extraordinary COVID-19 response.
Podcast
No state or territory will be spared from COVID-19 economic fall-out.
Financial anxiety rises again in Q1 2020 and 4 in 10 Australians experience some form of financial stress or hardship.
Australian wellbeing levels have fallen to survey low levels as anxiety climbs in response to rapid daily life changes due to Coronavirus.
The story of a tiny surgical screw breaking into the US market is inspirational. Can other Australian healthcare entrepreneurs learn from its success?
Uncovering the business impact of the bushfires through the eyes of over 500 Australian SMEs.
Wellbeing declined in the final months of 2019, after rising throughout the first 3 quarters of last year.
What does next year hold for Australian business owners? Listen to our podcast for NAB Chief Economist Alan Oster’s 2020 vision on the challenges and opportunities ahead.
Around the world, technology is transforming patient care. So why is Australia slow to follow suit?
Anxiety on the rise despite wellbeing hitting near record high.
What patients want – prepare to be surprised.
More Australians will be able to access affordable housing following a $2 billion commitment from NAB which will see more homes being built across the nation.
The Australian economy grew by 1.4% over the year to the June 2019, its weakest growth since 2009.
What do your patients think about vital issues like chronic illness prevention and mental health? This survey uncovers some surprising facts.
Corporate or consolidated practices. The two trends having the biggest impact on younger GPs.
Could the aged care sector’s problems be drawing to a close, paving the way for consolidation and more capital investment?
How digital tools can empower your patients to prevent and manage chronic disease.
Our sense of life worth improved and we ‘felt’ less worried about our finances in Q2.
She’s apples! How health food entrepreneur DR Vincent Candrawinata spends his day.
Thanks to video conferencing, onerous trips to the hospital to seek medical advice may be drawing to a close.
While our sense of life worth, life satisfaction and happiness have all improved, we're feeling more anxious.
CSIRO’s Future of Health report details what’s needed to keep Australia’s health system efficient, equitable and affordable. Here, we examine four key themes for healthcare business owners.
Deterioration in conditions in most states, with current momentum negative. Household sector weakness evident, investment still ok (outside mining), while agri. facing easing prices and needs rain. Housing sector downturn, population growth centred on the eastern states, agricultural prices easing.
New NAB data reveals key factors for the wellbeing of small business owners.
Avante Medical founder Scott Crawford outlines the high-tech issues of the moment – and the near future – for Australia’s $137 billion healthcare sector.
Business conditions continued to ease in Q4 and while they remain above average, forward looking indicators point to potential further weakness.
There’s growing awareness across industry, government and the community that we need to improve the way we design, build and operate the buildings in which we heal.
Digitisation, healthcare services and collaboration are transforming many pharmacies into community health hubs. We look at four key changes and opportunities to expect in the year ahead.
Healthcare providers want to operate efficiently while providing the best possible care for their patients. Here’s how digitisation – My Health Record specifically – can help with both.
New research shows anxiety is on the rise
Thanks to collaboration, groundbreaking hubs are connecting community, medicine, industry and academia – and creating opportunity.
Wherever you look, the future is about technology – the way we invest, care for our health and even how we grow our food. We take a look at where technology might take us in 2019.
There are good reasons to join forces with like-minded medical practitioners – but there are challenges to consider, too. NAB Health’s Tim Daha and Stephen Power take a look at the pros and cons of corporate medicine.
A strong first half and continuing near term momentum but slowing into the medium term.
Our wellbeing is up, but Australia lags behind the UK and we're still time poor with some of us willing to pay up to $131 for an extra hour in our day.
We discuss the future of health and why failure to innovate nowadays isn’t an option.
In a Victorian first, Sacred Heart Mission and the Victorian Government recently launched the state’s first Social Impact Investment, an innovative financing structure that supports positive social change.
Our expectation for the Australian economy is that GDP will increase by just under 3.0% in 2018 and 2019.
Cost increases remain the single biggest challenge facing businesses within the health industry, with NAB’s latest report card showing that revenue pressures and compliance and regulation are among the biggest challenges facing the industry.
A survey of more than 100 Australian health practitioners found an interesting mix of contentment and concern. It appears practitioners are torn between mounting challenges and exciting opportunities.
Passion, history, ambition. There can be many reasons business owners follow their dream. We asked five company heads to explain their ‘why’.
NAB is determined that our country’s small and medium sized enterprises, our country’s engine room, can embrace opportunities in the years ahead. For the health sector, we believe it’s a matter of ‘go forth and grow’.
Aged care is a sector that’s been under the microscope for years. But while it has faced real challenges, its future now looks bright.
Favourable business conditions persist.
From the beginning, Alex Tomic and Nik Mirkovic knew they wanted to think big, and to think global.
New research released today by NAB shows electricity and roads have the biggest impact on our daily lives - affecting almost 1 in 2 people (either positively or negatively).
An ‘e’ prefix tends to indicate a technological leap forward, and that’s certainly the case for ‘eHealth’. It’s helping patients manage their own health and changing their relationship with healthcare providers. So, where does that leave your bottom line? NAB’s Cameron Fuller examines the impact of technology and contemplates potentially profitable new business models.
The world’s first sustainability bond from a university is funding a better future for students and for vulnerable communities.
Home ownership is a key to wellbeing according to new research from NAB
Rising to the challenge of parenting four children with Type 1 diabetes prompted Elissa Renouf to found Diabete-ezy, a rapidly expanding business whose products help other sufferers manage the condition. We spend a day with her in export and expansion mode.
Nationally dwelling values continued their downwards trend last month; the seventh consecutive month on month decline since the national index series peaked in September last year.
A big order could completely transform your business but there’s a limit to how much anyone (or any small business) can handle. BDO partner Dr Mark Pizzacalla and Total Image Group CEO Pamela Jabbour discuss preparation, parameters and being strong enough to say ‘no’.
Biometric authentication is being rolled out across various industries – and the possibilities feel endless.
Keen to export to Asia? Make sure you understand what’s involved and how best to prepare.
Daylight, a sense of space, a natural outlook… architecture professor Julie Willis on how Australia is taking up the ethos of beautiful hospital design.
Setting goals can drive business success – but it doesn’t come naturally to many small business owners. Consultant and author Stephen Barnes shares tips on how to get started, how to set effective goals and how to motivate your staff to reach their targets.
Business conditions strong and businesses have their say on tax.
Two Australians – a doctor and an engineer – launched the ‘private healthcare in tough conditions’ industry and grew a business that now fights Ebola and runs warzone hospitals.
Australian dwelling values held firm in March, with the combined capitals continuing a softening trend, recording a 0.2% fall, while regional markets saw a 0.4% rise in values over the month.
More Aussies are opening their wallets to charity, says NAB report.
The trends reshaping health and the future implications for the Australian marketplace.
The trends reshaping health and the future implications for the Australian marketplace.
Online dermatology consults for rural Australians… how a ground-breaking new Teledermatologist platform is delivering specialist care to rural and remote patients.
The trends reshaping health and the future implications for the Australian marketplace.
The business conditions index moved 3pts higher to +21 index points. This is a record high since the monthly survey commenced in March 1997, although the same measure in NAB’s quarterly survey reached this level in 1994.
Nationally, dwelling values recorded their fifth consecutive monthly decline in February, taking the value of housing 0.8% lower since the market peaked in September last year.
Watching women’s disappointment when she prescribed therapeutic shoes for their problematic ankles and feet inspired Brisbane podiatrist Caroline McCulloch to create a range of footwear that’s as stylish as it is comfortable.
Seeing the benefits her care provides for patients has been the driving force behind 30 years in private practice for North Parramatta Physiotherapy & Sports Injuries principal, Mary Knapman.
New research challenges old adage – can money buy happiness?
The award-winning Arnhem Land Progress Aboriginal Corporation has created jobs in some of Australia’s most isolated communities. CEO Alastair King explains how ALPA is creating the jobs that are key to building successful communities in remote locations.
Chatbots are ready to answer questions 24 hours a day – a big plus when you’re talking health or finances. Dana Bradford, senior research scientist at CSIRO, and NAB’s head of innovation Jonathan Davey discuss how conversations with machines could make life easier.
Rising demand, shrinking resources, vulnerable clients – we can’t keep ignoring the challenging business of healthcare for the elderly.
CoreLogic reported further slippage in dwelling values over the first month of 2018, with national dwelling values recording their second consecutive month on month decline. After dwelling values held firm in October and November, they slipped by a third of a percent in both December and January to be down 0.7% from their peak.
Elevated business conditions & confidence point to a robust business sector in Australia at present.
The quarterly NAB Business Survey gives a more in-depth probe into the conditions facing Australian business than the monthly survey, and also provides extra information about how firms perceive the outlook for their respective industries.
As the cost of healthcare continues to rise, state and federal government budgets are facing a growing challenge of balancing the competing needs of health-care expenditure with other areas of spending such as schools and roads.
Confidence lifted to narrow the divide with business conditions, indicating a strong business sector in Australia at present.
The race is on to cut costs and save lives. As a nation, we have an impressive history of healthcare innovation – but what of the future? And what’s our place in the race to find new, cost-effective ways to diagnose, treat and prevent illness?
Could you get more value from your financial services provider? If you only ever talk tax, you could be missing out. Stannards’ Marino Angelini explains changes in the health practice and accountant relationship and why wealth building, cost cutting and asset protection should all be part of the service.
What will the new year bring in the world of business trends? Whether it’s health or agriculture, hyper local advertising or self-trained artificial intelligence, NAB has one eye on the (crystal) ball.
Nationally, dwelling values were unchanged in November 2017 according to the CoreLogic home value index.
Aussies’ wellbeing at its highest since 2013, but high anxiety still impacting one in four
Last month’s surprise spike in business conditions was more than unwound in November, although that was partly expected.
As Australia moves beyond the mining boom, we need to secure new sources of growth to ensure our future prosperity.
CoreLogic’s national Home Value Index held steady in October, confirming a cooling trend in housing market conditions.
Vincent Garvey had no experience of dialysis – but his prize-winning invention is on track to save millions of lives.
What does it take to run a successful rural pharmacy? Two business owners – including the winner of this year’s Pharmacy Guild of Australia’s Pharmacy of the Year Award – discuss the challenges and rewards of working in a small town.
The NAB Quarterly Business Survey showed a continuation of the very upbeat conditions for firms into the September quarter.
Economic growth in most states is expected to strengthen somewhat in 2017-18 before moderating a little in 2018-19 as dwelling investment and LNG exports peak.
The latest housing market results showed dwelling values held firm nationally.
Student mental health on the agenda for schools.
NAB’s Mark Todd and a panel considered the future of fintech and the implications for investment at the KangaNews-NAB Fixed Income Beyond the Institutional Sector Summit.
Get the latest monthly update on housing market conditions around Australia.
Using cross-sector partnerships to connect and capture data that underpins system-wide problem solving can create better societal outcomes.
The second report in the Catalyst Insights Series, was developed following a roundtable focused on enabling the public and the private sector to work together to create better societal outcomes.
Australian housing market sentiment (measured by NAB’s Residential Property Index) fell noticeably in the June quarter after climbing to a 3-year high in March.
Business conditions hit another multi-year high, with most industries performing well. Stronger trading conditions (sales) and profitability drove the improvement, while employment conditions were steady.
Get the latest monthly update on housing market conditions around Australia.
Australians reported a further improvement in the quality of their lives in the March quarter.
A bounce back in the healthcare sector in early 2017 has experts confident the sector is only primed for further growth. KOSEC founder Michael Kodari reports.
Get the latest monthly update on housing market conditions around Australia.
Get the latest monthly update on housing market conditions around Australia.
Corporate social responsibility sounds like an excellent idea but in practice it often goes straight into the too-hard basket. Here’s how taking your staff away from the daily grind can save your business in all the ways that matter.
Research by NAB shows Australians don’t think about infrastructure projects as just concrete, bricks and mortar, but rather as the services or conveniences that are derived from them. The role of the customer, and their satisfaction, has been a weakness in the infrastructure governance settings for some time.
Australians remain highly anxious. While having more money might solve some of our concerns, it would do little to solve some of the biggest detractors of wellbeing. But, it could help close the “wellbeing gap” between high and low income earners.
Leanne Faulkner was riding a wave of success building a fast-growing start-up until the business slowed and the stress took its toll on her health. Now she’s helping others learn how to cope with the pressure.
While the health and aged care business stream attracted 130 Australian delegates and almost as many Chinese attendees at the first day of talks in Beijing, a planned mining stream was scrapped due to low interest.
Australian businesses in the healthcare sector are well positioned to capitalise on significant changes in the Chinese healthcare system as major demographic shifts unfold in the world’s second largest economy.
China’s rapid economic development and urbanisation have had a major impact on the health of city-dwellers. Changes in diet and lifestyle have triggered an increase in the incidence of chronic ‘western’ illnesses such as diabetes and coronary heart disease. And, while greater wealth, improved living conditions and access to better medical care are extending lives, an ageing population brings its own set of challenges.
Researchers are seeking help from farmers around Australia to test and advise on a new online resource designed specifically to help farmers better cope with the challenges of their occupation.
When Careline first entered the international market place with their infant formula products, they faced some very tough competition and had not yet developed relationships with big local distributors. Now, they can successfully boast China as one of their main export markets, along with Thailand, Singapore, Macau and Hong Kong.
Here are 11 tips for success in China which Mr Montgomery shared with the health and aged care business stream of the Australia Week in China conference in Beijing.
Overall consumer anxiety eases a little more in Q4, but our spending behaviours are still yet to respond.
Family, our homes and personal safety contribute the most to our feeling of Wellbeing.
By 2050, demographers say close to 40 per cent of China's population will be above 60. But what is a worrisome burden for the Chinese government and families, is also an opportunity for Australian businesses.
While the 24-hour news cycle may talk down Australia’s transition from a commodity to service economy, the figures tell a different, and very positive, story.
The rate of charitable giving in Australia fell in the 12 months to August 2016, following a spike in the previous year, coinciding with the Nepalese Earthquake, and a still cautious consumer, according to new research released by NAB today.
This report provides a first look at Australian household spending patterns across a range of patient care practitioners (excluding GP’s, hospitals, pharmacies) based on transactions made through NAB’s health payment systems.
The NAB Health Practitioners’ Sentiment survey is designed to gauge how medical practitioners feel about the prospects for their business and industry.
An early love of horses almost led Western Health CEO Alex Cockram to become a veterinarian but her great interest in people’s lives, motivations and their resilience inspired her into psychiatry. It’s what’s still inspiring her today.
This insights paper has been prepared by NAB Corporate Health and JBWere to address the current challenges facing providers and to examine some of the successful strategies being adopted.
A commitment to big data is helping the NSW Ministry of Health not only save costs but save lives, from identifying patterns early to ultimately reducing the number of people who end up in the emergency department.
This talented Australian professional sportswoman has been kicking goals both in the world of international football and at her university studies in pharmacy.
Consumer anxiety eases as concerns over jobs, the cost of living and government policy continue to moderate.
Australia’s wellbeing has fallen across all measures - life satisfaction, life worth, happiness and anxiety.
Evy Gomo, Clinical Manager at Davidson Trahaire Corpsych, shares her top tips for SME owners looking to create psychologically healthy workplaces.
Founder and Managing Director of management consultancy Nous Group Tim Orton explains why taking a flexible approach to working hours makes business sense.
NAB, in conjunction with CoreLogic (RP Data), brings you the Australian Housing Market Update for August 2016.
Through our research on wellbeing Australians have told us that they believe it is important for them to feel “connected” with their local community. But how connected do they really feel and what would they change within their communities to improve their sense of personal wellbeing?
This report looks into the growing trends of digitisation and how that is driving deeper partnerships with consumers. It is based on insights from industry experts, clients, NAB Health’s analysts, plus key strategy executives representing practitioners, pharmacists, and corporate health.
National Australia Bank’s latest Online Retail Sales Index (NORSI) shows online spending grew by 13.5% in the 12 months to June 2016. While still strong, growth has flattened from the year-on-year growth seen back in 2011 when the index was first established.
Every business needs a plan, including a general practice. Dr Neville Steer and accountant Sue Prestney discuss the benefits of keeping a business plan short and simple.
A host of new domain name extensions are providing health practitioners with new branding and search marketing opportunities, as well as creating a level of trust and credibility for the overall sector.
Solid growth across the large south-eastern states has become increasingly entrenched over the past year, while difficult conditions in the mining sector are having a more pervasive impact across Western Australia, the Northern Territory and parts of Queensland.
Former refugee Dr Munjed Al Muderis is an orthopaedic surgeon specialising in hip, knee, trauma and osseointegration surgery – a high-tech procedure that has transformed the lives of many amputees, both in Australia and around the world.
Health Project Services CEO Dean Crozier is on a mission to deliver a vital transformation of the healthcare property sector in Australia.
Welcome to the CoreLogic overview of Australian housing market conditions for July 2016.
Nick Heywood-Smith and his wife Nikki explain how they built Wellness and Lifestyles Australia into a one-stop shop for allied health services.
Digital innovation as well as increasing demand for Australia’s health expertise overseas are two of the big opportunities ahead for the local healthcare sector, says NAB Health’s new General Manager, Cameron Fuller.
Dr Ben Chan is part of a growing tribe of doctors who have started complementary side-businesses.
NAB, in conjunction with CoreLogic (RP Data), brings you the Australian Housing Market Update for June 2016.
Continued growth in the ageing population is expected to generate business for healthcare providers. Strategic Professor Susan Gordon, South Australian Chair of Restorative Care at Flinders University, explains the benefits of differentiating your services to meet older people’s evolving needs.
We talk to one of the developers of the CancerAid smartphone app that helps doctors to personalise their support for cancer patients.
NAB Wellbeing Index: Around 1 in 6 “highly” anxious Australians are not coping - young women struggling most
Vet4Pets has created a community-centric social media strategy, tapping into its strong ties with the local area as well as bringing the brand’s motto, ‘Family Vets for Family Pets’, to life. Vets4Pets Business Manager Carole Benassy shares her top tips for using social media.
Buying an established practice can give medical practitioners a head start in business. Medfin’s Nathan Marris and orthodontist Dr Nour Tarraf discuss the benefits and potential pitfalls.
Wearable technology could improve patients’ quality of life and help medical professionals to provide more tailored care. Associate Professor Vijay Sivaraman discusses the potential benefits, and why widespread adoption could be five years away.
At the start of this month we’ve seen another cut to the cash rate, taking official interest rates down to a new historic low of 1.75%.
A resilient economy, solid employment growth, strong household consumption and lower levels of consumer anxiety helped support the charity sector and the ongoing generosity of Australians.
In this video Alan Oster talks about Australia’s “Sharing Economy”.
The sharing economy is growing at a rapid rate, as new business models based on ‘access to’ rather than ‘ownership of’ physical and human assets like skills, time and space, continue to emerge.
NAB, in conjunction with CoreLogic (RP Data), brings you the Australian Housing Market Update for April 2016.
Queensland podiatrist and physiotherapist Caroline McCulloch launched FRANKiE4 after spotting a gap in the women’s shoe market for styles that are both comfortable and fashionable.
Consumer anxiety has now fallen for its third quarter in a row as recovery in the non-mining economy supports the labour market.
A growing number of SMEs are putting their staff through meditation workshops as a way to improve health and wellbeing and increase productivity. We talk to two meditation teachers about the benefits as well as a business that’s reaping the rewards.
Named CEO Magazine’s 2015 Chair of the Year, Monash Health’s Barbara Yeoh says her successful career was shaped by the support and guidance of strong mentors.
The first two months of the year have seen the housing market regain some of the losses recorded over the final quarter of 2015, with capital city dwelling values rising by half a percent in February following a 0.9% rise in January to take our hedonic index 1.4% higher over the year to date.
Kim Brotherson, Managing Director of Pharmacy 777 and Bruce Annabel, Pharmacy Business Consultant and Adjunct Professor of Pharmacy Management at QUT, share their top five tips for creating a thriving community pharmacy.
Dentist, business coach and author, Dr Jesse Green is on a mission to empower healthcare professionals to become true business owners.
In this report, we take a look at longer term wellbeing trends, focussing on those groups that have historically reported the lowest wellbeing.
VIDEO: Monica Meldrum shares the increasing demand for ‘clean’ food and how her fast-growing business Whole Kids is committed to improving children’s health.
In our second annual survey, we take another look at what makes this country such a special place to live.
Innovation is a key driver of business success. It’s typically defined by a firm’s knowledge of the market and customers, constant process reviews, learning from failures and passion and drive.
The health and wellbeing revolution is sweeping through workplaces, with forward-thinking companies making an effort to promote healthier lifestyles, more flexible working conditions and better work-life balance. We discuss some simple ways SMEs can get on board.
In this December 2015 quarter edition of the NAB Online Retail Sales Index, we have responded to market changes by including separate data on takeaway food and smaller online retailers.
NAB, in conjunction with CoreLogic (RP Data), brings you the Australian Housing Market Update for February 2016.
Intellectual property covers everything from your brand to customer lists. It could be your most valuable asset, so how can you best protect it? Bill Ladas, Special Counsel at King & Wood Mallesons, and Tara Tissott, Legal Counsel at NAB, discuss the options.
Ainslie Chemmart Compounding Pharmacy’s Colette Needham is embracing the challenges facing the pharmaceutical industry by positioning the pharmacy as an all round destination for health and wellbeing.
The rotation in economic activity towards the non-mining states is continuing, while conditions in mining states have become more challenging as commodity prices have fallen further.
The Victorian Healthcare Association (VHA) explains how it’s using Twitter to interact with members and influencers in its sphere.
Significant government reforms, shifting demographics and increased access to nationwide health data will underpin opportunities – both foreign and domestic – for Australian healthcare providers in 2016. NAB’s Paul Littleton and Dean Pearson highlight the key trends.
The NAB Quarterly Australian Behaviour Survey (formerly NAB Consumer Anxiety Report) shows consumer anxiety falling again (and to its lowest level since Q4 2014), amid more signs of improvement in the labour market and non-mining segments of the economy.
The peak representative body for Australia’s physiotherapists is using social media as a valuable tool to engage and benefit its members, but also to boost awareness of the profession and its role in the community.
Many Australians dream of a financial windfall that would significantly improve their lives forever, but how much is enough? In this special report, we ask over 2,000 Australians to tell us how much they need.
The December Housing market updates shows the highest annual growth rates are still being recorded in Sydney and Melbourne.
The right practice manager can improve the profitability and viability of a practice. GP Philip Gribble of the Clare Medical Centre and Gillian Leach, National CEO of the Australian Association of Practice Management, discuss the benefits of employing someone to take care of business.
An expanded role for pharmacists could reduce pressure on GPs and emergency departments. George Tambassis, National President of the Pharmacy Guild of Australia, and GP Kean-Seng Lim, who has a pharmacist in his practice, discuss the benefits for patients, health practitioners and the public purse.
Managing chronic conditions is a complex process. GP Tim Koh, co-owner of the Ocean Keys Family Practice in Western Australia, discusses how a multidisciplinary approach can help patients to take better care of themselves and why a GP is best placed to co-ordinate the team.
The latest edition of Business View magazine is now available to download for free on iPad and iPad mini via our app, NAB Think.
One of China's two millennial goals, which mark the hundredth anniversary of the establishment of the Communist Party, is to complete a transition to what it calls a 'middle income' country by 2020-21. Keeping this all-important emerging middle class happy and healthy will be politically and economically crucial for the government and country as a whole.
Australia’s wellbeing has risen to its highest level since mid-2013, with levels of happiness, life satisfaction, life worth and anxiety all improving, the latest NAB Wellbeing Index has found.
Public health expert Dr Jane Thomason has spent the past 16 years as Chief Executive Officer of JTA International, the healthcare development consultancy she founded in 1999.
A new medical practice can be designed to reflect your vision and may also cost less than an established business. Nathan Marris, Relationship Manager at Medfin Finance, shares his tips for success, and practice owner Dr Prema Joseph discusses why she chose to start from scratch.
Professor Yogesan Kanagasingam, Research Director of the CSIRO’s Australian e-Health Research Centre, is using the NBN Satellite to conduct remote eye screening in remote indigenous communities. He’s expanded the reach of the Remote-I platform to China.
Health represents one of the largest and fastest growing sectors of the Australian economy. This insight paper has been prepared by NAB Health to address current issues and trends emerging in the Australian Aged Care Services sector.
Robin Levison, Chairman of ASX-listed Eureka Group Holdings, is running a ‘shared value’ enterprise, providing quality, affordable housing for low-income seniors and giving a return to shareholders at the same time.
Economic activity is shifting back to the eastern seaboard as the economy transitions towards non-mining sources of growth with domestic demand will be strongest in New South Wales and Victoria.
Australian's are feeling less anxious underpinned by lower stress associated with retirement funding, cost of living, job security and health. And for the first time, NAB’s Consumer Anxiety report sheds light on spending behaviours across states.
Telstra has now invested $237 million in 17 healthcare industry acquisitions, investments and partnerships in order to roll out numerous eHealth initiatives, with the ambition of establishing itself as Australia’s leading eHealth provider.
In recognition that a mentally healthy workplace can start with a single employee – and a conversation – here are some tips to make your workplace mentally healthy.
As CEO of Pindara Private Hospital for the past seven years, Trish Hogan has steered more than $110 million worth of development, transforming the Ramsay Health Care-owned operation into the largest and most comprehensive private hospital on the Gold Coast.
Without appropriate protection, your hard-earned assets could be at risk. Paul Jarvis, whose team manages the wealth of clients in the NAB Health sector, discusses how insurance, tax planning and a collaborative team of advisers can help you build a successful practice.
Like every other business owner, a general practitioner (GP) needs a business plan. Tristan Bond, Founder of The Healthcare Business Group, and GP Dr Karen Price discuss the benefits of a plan, what it should cover and how a business coach could help doctors to stay on track.
Family relationships and safe communities critical to Aussies’ wellbeing. In an effort to better understand why Australians feel the way they do, NAB has been tracking Australia’s wellbeing (as measured by anxiety, life-satisfaction, happiness, and life-worth) since early-2013.
NAB Health shares insights into the changing landscape of the health sector in Australia, providing findings from customers and key sector strategy executives for Practitioners and Specialists, Pharmacy and Corporate Health.
Recognition that the environment in which patients are treated makes a big difference to how successful the outcomes are is driving hospital design, according to Conrad Gargett’s Managing Director Bruce Wolfe, a firm believer in what’s known as ‘Salutogenic Design’.
Research suggests that, for many dentists, practice management is a major challenge. Anita Roubicek, Joint Chief Executive Officer of Prime Practice dental management specialists, discusses the benefits of having a well-run practice and shares her tips for improving performance.
Women are still under-represented in senior positions across public and private organisations. Speakers at the recent Women in Health Leadership symposium considered why this is the case, and whether financial acumen could help women to achieve the most senior positions.
In healthcare, networking is less about exchanging business cards than building authentic relationships. At the recent Women in Health Leadership Symposium in Sydney a panel discussed how networks and mentors could help build a successful career.
The Royal District Nursing Service (RDNS) was one of the first Australian healthcare organisations to enter China. Executive General Manager Dan Woods discusses its success and ongoing opportunities.
After years of studying to be a medical practitioner you’re finally earning an income. Philip Mawkes, a Senior Relationship Manager at Medfin, explains why it’s important to make your financial future a priority and shares a five-point plan to help you get off to a flying start.
Across the health and aged care industry there is a continuing trend towards consolidation through mergers and acquisition. NAB’s Nehemiah Richardson and Natalie Smith discuss the impact of this trend and how to prepare for a merger or sale.
A growing number of general practitioners are using social media to attract new patients and secure their loyalty. Helena Athans from NAB Digital and David Bacon from the Healthy Thinking Group discuss the potential benefits and how to make the most of them.
Overall government expenditure is expected to increase with funds going to the Medical Research Future Fund.
The China-Australia Free Trade Agreement (ChAFTA), reached in November 2014, is opening up a massive potential market for Australian healthcare providers. Tom Taylor, NAB Head of International Economics, and Nehemiah Richardson, NAB Health General Manager, discuss the opportunities and ways of making the most of them.
There’s a growing need for in-home care services and we are seeing more private operators come into the sector. Caroline Ucherek and Sheree Gover from CJU Medical Marketing share their tips for driving business growth by building relationships with clients, their families and referrers.
Medical practitioners often put their patients first – but the price could be compassion fatigue. Dr Frank Jones, President of the RACGP, and Dr Frank Meumann, President of the region’s Balint Society, explain how sharing experiences can have a positive impact.
Cloud computing can reduce practice costs and increase efficiency but, as yet, only a minority of general practices have embraced the technology. Dr Nathan Pinskier and NAB’s cloud computing expert Tim Palmer discuss the benefits, current limitations and the potential for change.
The divergence between mining and non-mining state economies continues, although with mining investment now winding down it is the major non-mining economies that are starting to outperform. Budget positions improving but focus remains on reducing expenditure.
Michael Kenihan is well placed to help clinicians succeed in business. A former athlete and physiotherapist, he now runs Australia’s largest network of allied health and sports medicine practices. He discusses the skills and behaviours that drive a successful private practice.
Julie Bishop launched the 2014 Australia-China Trade Report. Commissioned by the Australia China Business Council (ACBC), one of Australia’s most respected China engagement forums and sponsored by NAB, the report examines bilateral trade between the two countries.
How can pharmacies evolve with changing times? NAB research has identified three important metrics for community pharmacies to keep an eye on to improve productivity. They include Stock turnover, dispensary to sales ratio and wage costs for sales ratio.
A budget will help you to monitor the financial health of your practice – but that’s just the beginning. Stephen Allan, Credit Executive at Medfin Finance, explains how a budget can also help you to run a more productive and profitable practice.
NAB has released its first annual pulse check on the big issues facing Australia today. Important concerns include cost of living, access to healthcare, employment, the economy and terrorism/security concerns, while indigenous issues, infrastructure and transport and taxation are lowest.
The NAB Australian Wellbeing Index fell slightly to 63 points in Q4 2014 (63.8 in Q3). Wellbeing was rated lower for all questions, especially “not anxious yesterday” which fell to its lowest level since the survey started. Wellbeing rated highest in Queensland and lowest in Victoria.
2015 could stand out as a year of change for the health sector – so where do the best opportunities lie? Dean Pearson, NAB’s Head of Industry Analysis, and Melissa Timbs, Senior Policy Advisor - NAB Health, look at how the changes could work in your favour.
Thanks to the Japan-Australia Economic Partnership Agreement (JAEPA), there are now new opportunities for Australian businesses to move into Japan. NAB's Kohei Tsushima explains how those in agribusiness, financial services, health and education are the most likely to benefit.
2015 could be a good year for smaller businesses. Dean Pearson, NAB’s Head of Industry Analysis, looks at opportunities sector by sector, suggests ways to make the most of them and explains how technology is helping to level the playing field for SMEs.
Prime Minister Tony Abbott and Health Minister Peter Dutton have announced that the proposed $7 GP co-payment will be redesigned. Scheduled to commence on 1 July 2015, we explain the new measures and how NAB Health can help your business prepare for these changes.
Every working environment has the potential to create stress but, when you’re running a small or medium enterprise (SME), the pressure can be particularly intense. Exercise, healthy eating and shedding unhealthy habits are recommended as some of the best methods to cope.
The China-Australia Free Trade Agreement (FTA) offers considerable potential for Australian agricultural and services firms as a result of their improved market access. Dairy, meat and horticulture stand to gain significantly while most resource exports will end up having duty free access.
China’s changing healthcare needs require major changes to the system to avoid economic pain. The population is ageing and life expectancy is rising. With these two trends, demand for healthcare services is set to increase – particularly given the growing incidence of non-communicable diseases.
Starting a dental practice for the first time can be challenging, especially during the initial planning stages. One of Medfin’s leading dental finance specialists, Haydn Maddock, shares his top 10 tips for setting up a practice that’s built for success.
After co-founding the first privately run specialist veterinary practice in Sydney, Dr Sarah Goldsmid swam against the tide of the GFC and expanded her business. A finalist in last year’s Telstra Business Women’s Awards, she explains how a passion for surgery continues to drive her success.
The NAB Australian Wellbeing Index rose to 63.8 points in Q3 2014 (61.7 in Q2 2014). Wellbeing was rated higher for all measures, with the biggest improvements related to life satisfaction, worthwhile life and happiness.
Your waiting room can influence how your patients feel about you and your practice. Caroline Chaplin, Director of Rooms With Style, explains how colour, lighting and soft furnishings can help you convey the right message in a cost-effective way.
Barwon Health’s Volunteers Services Director sees volunteers as community advocates who enhance the healthcare experience of consumers. Recognised at the 2014 NAB Women’s Agenda Leadership Awards, Zoe Waters is now taking her message to a wider audience.
Australia’s Federal system of Government makes State Governments a critical part of the overall fiscal and economic performance of Australia. This handbook is intended to provide a comprehensive update and reference tool on both the economies and fiscal finances for each State.
Want to receive alerts of NAB’s economic updates and business commentary directly to your LinkedIn feed as soon as they’re shared? Follow us on Australian Business Insights.
When you’re ready to go it alone, do you buy an existing dental practice or start from scratch? Medfin CEO, Paul Freeman explores the decision-making process, and believes the end result normally stems from whether you’re more entrepreneurial or risk-averse.
Clinical trials provide access to new treatments, contribute to Australia’s economy and support our public sector institutions. Dr Brendan Shaw, Medicines Australia Chief Executive, discusses the challenges and opportunities that are shaping our innovative medicines industry.
In 40 years, about a quarter of Australia’s population will be over 65. Michael Bassingthwaighte, CEO of Peoplecare, explains how a closer relationship between private health funds and GPs could improve patient wellbeing and manage increasing costs.
Australian wellbeing falls to its lowest level since the survey began. Anxiety is still the biggest detractor of overall wellbeing. A “wellbeing gap” has emerged between the highest and lowest income earners.
Consumer anxiety spikes post the Federal Government’s budget, with low income earners clearly most concerned. The NAB Consumer Anxiety Index rose to 64.5 points in Q2 (61.7 points in Q1) - its highest level since the survey began in Q1’13.
The end of financial year is a busy time for the healthcare sector, but there’s still an opportunity to get your business into shape for June 30. NAB Health General Manager, Nehemiah Richardson shares seven practical strategies to help your business make the most of tax time.
Many general practitioners have been exposed to aggressive behaviour yet few have taken steps to protect themselves. Researcher Dr Danny Hills explains his six simple strategies for keeping a medical practice a safer and less stressful place to work.
Last month, investors ignored mixed economic data and geopolitical risks to push the US share market to a record high, reports James Wright, Chief Investment Officer, JBWere. Read more to also find out what happened in currency markets and the residential property market from Nick Ryder
The key focus related to health in this year’s Budget is savings. The introduction of GP co-payments, changes to PBS provisions, Medicare safety nets and indexation arrangements will contribute significant savings. We assess the key initiatives impacting Australia’s health sector.
The Federal Budget contained few tax surprises, with most of the key revenue changes previously announced by the Government, including the expected additional tax for high income earners, while the Indexation of Fuel Excise will impose an additional cost on both business and individuals.
While some saw this as ‘the Budget we had to have’, the grants news is good. Overall funding for businesses is set to increase under measures proposed in the 2014 Federal Budget. GrantReady summarises what the Budget means for grants and funding programs.
There’s a lot of change in this year’s budget, so understanding how the Federal Budget impacts you and your business can be challenging. That’s why our team of economists and industry experts have been working around the clock to break it down.
Charitable giving grew by more than 8% in the year to February 2014, which is a substantial improvement on the 3.3% rate of growth seen in the previous year. Overall, charitable giving has grown by almost 19% since December 2010.
When running a business it’s important to understand your obligations in relation to domestic and international sanctions and embargoes, and how they may potentially impact your business before entering into arrangements with offshore customers and/or their agents.
Ahead of the upcoming Federal Budget, there is a lot of focus on the Commission of Audit’s findings, and putting the Budget on a sustainable medium term path as the population ages, health and pension costs rise, and the proportion of tax payers declines.
Robots are on the march. Most of them work on assembly lines, building cars, making electronic devices and processing food, drugs and chemicals. But robots are spreading beyond the factory - a trend that will accelerate in 2014.
More than $1trn will be spent on hardware, including telecommunications gear, in 2014 with tablets expected to grow by 40%, according to The Economist Intelligence Unit. Salespeople, executives and even doctors will find ever more uses for portable screens.
There’s been a lot for Aussie businesses to talk about recently, from shoes to defence contracts - Australian and global markets appear to be bursting with opportunities. Here's a selection of business insights to help you uncover the opportunities across all business sectors in 2014
Consumer anxiety rises as fears over job security continue to grow. The NAB Consumer Anxiety Index rose to 61.7 points in Q1 2014 (61.5 in Q4 2013). This was largely driven by heightened concerns over job security (mainly NSW/ACT).
National wellbeing improves after falling in the previous two quarters, but anxiety continues to rise with more than one-third of Australians currently “highly” anxious. The NAB Australian Wellbeing Index rose to 64.6 points in Q1 2014 (63.5 points in Q4 2013).
M&A has been a big theme recently, with entrepreneurs and established businesses alike snapping up opportunities. Air-con was a burning issue and property developers were dancing at the prospect of better funding and more opportunities.
Marketing can help you to build a practice, run it successfully and ultimately make a profitable exit. Jason Borody, Managing Director of Vividus Marketing, talks about opportunities, challenges and how the internet has made communications a priority for the healthcare sector.
Bullying can cause physical and psychological harm to employees and undermine good business. Alex Jenkins of Davidson Trahaire Corpsych suggests ways to create a workplace culture which supports the health and productivity of everyone in the organisation.
Finding and keeping the right people is fundamental to the success of any business. Gavin O’Meara, Manager of People and Culture at Ramsay Health Care, explains how planning, preparation and ongoing support can help you build an engaged and productive team.
Monica Meldrum was named '2013 Emerging Entrepreneur of the Year' at last year’s NAB Women’s Agenda Leadership Awards. Here, she discusses the increasing demand for 'clean' food and how her fast-growing business Whole Kids is committed to improving children’s health.
The big question for 2014 is whether the Australian dollar will keep trending lower with perhaps a secondary question about whether Australian property will continue to boom. According to Business Spectator’s Alan Kohler - yes and yes.
As our population ages and demand for facility management services increases, hospitals are doing their best to manage costs. Ivan Fernandez, Industry Director at Frost & Sullivan, suggests ways for facility management providers to identify new opportunities and overcome challenges.
Consumer anxiety rises amid ongoing weakness in the domestic economy. Consumer anxiety rose to 61.5 points in Q4 (61.1 in Q3). With the labour market softening, anxiety over job security has started climbing although it still rates as the lowest concern overall.
National wellbeing deteriorates for the second straight quarter. The NAB Australian Wellbeing Index fell to 63.5 points in Q4 (64.4 points in Q3), with all four survey questions - satisfied life, worthwhile life, happy yesterday and not anxious yesterday - rated lower.
Start to prepare for a new era in the Australian Chinese relationship. Well within five years, instead of simply looking at Chinese manufacturing, Australia will look at the tourist bookings due to a very big rise in Chinese tourism.
As many SMEs might be a million miles away from the mining and resources sector, it’s easy to think it’s all completely irrelevant. That’s not the case. It’s important that you're aware of the general direction of the industry because it can affect your own business.
Smartphones and tablets are old news. The New Year promises tantalising prospects when it comes to new technology and innovation. Business Spectator explores the top five new technologies set to send pulses racing in 2014.
As Pharmaceutical Benefits Scheme (PBS) reforms continue to roll out, many pharmacists are taking a broader approach to boosting profits. Pharmacy owner and Managing Director of Rx Management, John Loveridge, discusses the changes and strategies for mitigating their impact.
Donations grew 2.5% (12-month average) in August with an average annual donation of $312 per donor. Giving grew fastest for “Other” (12.8%) and Health & Disability (9.1%) charities, but fell for Humanitarian Services (-3.2%) and Medical Research & Services (-2.4%) charities.
Discussions of food security in Asia have often centred on the issue of supply, but now the emphasis is shifting from quantity to quality. The ability to address the issue of food quality is complicated by the increasing complexity of the food supply chain in Asia.
The NAB Australian Wellbeing Index fell to 6.4 points in Q3, with a big increase in anxiety in WA a key contributor to lower national wellbeing. Consumer anxiety rose to 6.1 points in Q3, underpinned by rising concerns around cost of living, ability to fund retirement and health.
It’s never too early to get your practice ready for sale. As Paul Freeman, Chief Executive Officer of Medfin Finance, points out, potential purchasers look for the kind of well-run business that's also efficient and profitable for you. Here are his tips for getting it up to speed.
More than a third of Australia’s general practitioners, nurses and specialists are over the age of 50, so what will happen when they all retire? Dr Henry Cutler, Director, Head of Health Economics at KPMG, discusses possible skills shortages and ways to ameliorate any emerging problems.
The Patient-Centred Medical Home (PCMH) could improve overall population health and lower the cost of healthcare. Dr Eleanor Chew, Vice President of the Royal Australian College of General Practitioners, explains the benefits of a voluntary system where one GP co-ordinates patient care.
Telehealth could provide many Australians with easier access to healthcare, monitor chronic illnesses more effectively and assist the ageing population. Dr James Freeman (pictured) founded GP2U to remove logistical obstacles to the uptake of telehealth, but other challenges remain.
Since new standards for hospitals and day surgeries took effect in January 2013, there have been signs of improvements for patients that also make financial sense. Professor Picone AM, CEO of the Australian Commission on Safety and Quality in Health Care, discusses the initiative.
Most businesses in the healthcare sector are affected by fluctuations in currency and interest rates. NAB’s Head of Corporate & Institutional Markets, Darren Hooton, cautions against complacency and suggests strategies for mitigating risk.
The government’s economic forecasts now recognise the softness of the domestic economy and the weaker outlook for commodity prices and incomes. In the near term the Budget now looks to be slightly adding to growth (rather than detracting as at Budget time).
According to the 2011 Census, the Health Care and Social Assistance industry is now Australia’s biggest employer. The Australian Healthcare & Hospitals Association’s Andrew McAuliffe discusses increasing demand, unequal growth and opportunities for innovation.
Pharmacists are helping to reduce pressure on the health system and improve quality of life. President of the Pharmacy Guild of Australia, Kos Sclavos, discusses the importance of pharmacists retaining their sustainable competitive advantage in the face of growing retail competition.
Australian wellbeing improved in the June quarter despite softening economic conditions. NAB's Australian Wellbeing Index measured 6.6 points, up from 6.2 points in the March quarter. Consumer anxiety fell in the quarter in line with moderating concerns about future spending/savings plans.
A GP setting up a private practice needs to consider everything that comes with owning a business from demographics to finance, taxation, employment and compliance issues. Paul Freeman, CEO of Medfin Finance, explains how to avoid the pitfalls.
As we approach the end of another financial year, Bongiorno Group’s Director, Michael Waycott, discusses tax-effective strategies, recent changes that may affect healthcare providers and why you should start planning now for next year’s return.
Understanding how the Federal Budget impacts you and your business can be complex. Our team of leading economists, tax and superannuation experts keep you up-to-date with all the latest news from the 2013 Federal Budget so we can help you get all your ducks in a row.
With the Federal Budget being handed down yesterday, we want to ensure you understand what it means for you and your business. Our team of economists and industry experts have analysed what the Budget means overall for Australian businesses, as well as focussing on specific industries
Following the announcement, NAB’s panel of leading economists and industry healthcare experts have analysed the Governments’ much-anticipated 2013 Federal Budget, and here they share with Health View their breakdown of what it means for the healthcare sector.
NAB’s Senior Tax Advisor and panel of leading economists break down the tax impacts from the 2013 Federal Budget. Understand what the changes are for individuals and businesses including a recap on those that were previously announced.
“What a difference a year makes”. NAB’s Group Chief Economist Alan Oster gives his detailed summary of this year’s Federal Budget. Who benefits from the Government’s proposed spending and who doesn’t, and what does it mean for the Australian Economy?
Following the 2013 Federal Budget announcement, Alan Oster, NAB’s Group Chief Economist, provides a quick overview of what he sees as the outcomes and impacts to individuals and businesses. Watch his video now.
Charitable giving slowed in the year to February 2013 as economic conditions and consumption weakened, and business and consumers became more cautious. The NAB Charitable Giving Index grew by 2.6% (12-month average) in February 2013 – down from 8.3% in the same period one year earlier.
The new NAB Quarterly Australian Wellbeing Index has been launched in conjunction with the NAB Quarterly Australian Consumer Anxiety Index with the aim of assessing perceptions of wellbeing and consumer stress.
Not enough hours in the day? Good time management can help you to grow your business and enjoy a healthy work-life balance. Time management specialist Geoff Prior helps people to work more effectively – and here he shares his top five tips.
We explore various topics including a current view on the management of foreign exchange and interest rate risks and the results of a client survey conducted by our Group Economics team on current business conditions and reforms in the Australian healthcare sector.
SME confidence and conditions better in Q3 but still below average; sentiment of SMEs now in line with their larger counterparts but activity, capacity utilisation and new orders continue to under perform. Strength in recreation & personal services and transport a consistent theme
The first NAB Charitable Giving Index shows that charitable giving is growing, despite a softening domestic economy, flat employment growth and persistent consumer cautiousness. NAB and data analytics firm Quantium reviewed donations made by credit card, direct debit, BPAY and EFTPOS
What does the Federal Government’s Not-For-Profit (NFP) review, with legislation due to be finalised in October 2012, mean for the healthcare sector? JBWere’s Director of Philanthropic Services gives a lowdown.
We headed along to the AMA annual conference recently held in Melbourne where Federal Health Minister Tanya Plibersek outlined the health reforms handed down in the 2012–13 Budget.
How eHealth ready is your business? Dr Mukesh Haikerwal, Chair of the World Medical Association is leading a team of clinicians to roll out eHealth for the National E-Health Transition Authority (NEHTA). Here, he talks you through the eHealth basics.
Michael Bassingthwaighte, CEO of not-for-profit health insurer Peoplecare, talks cash flow, growth, decision-making and regulatory management.
Are your tax records are up to date? Do you know how to effectively reduce your taxable income? NAB Health’s John Minto shares some pointers.
Use of social media in business is skyrocketing globally, yet few local GPs are capitalising fully on this trend. Here’s how to boost your professional presence online.
Property can be a means to reduce your tax bills and help fund your retirement. Read up on tax tips and property strategies for the healthcare sector with NAB Health Senior Financial Planner, Matthew Wilson.
The impact of the Euro-zone financial unrest to the healthcare industry is increasingly affecting importing and exporting decisions of Australian healthcare businesses. Economic backdrop Currency markets continue to be volatile, notes Mike Bligh, NAB Head of Specialised Business, Business Markets and Wholesale Banking, and “significant swings are becoming a daily event. We recently saw the […]
To respond quickly to online customer queries, artificial intelligence is increasingly being used by businesses, from retailers to publishers. My CyberTwin CEO, Liesl Capper-Beilby (pictured), explains this trend.
Cash flow is the oxygen of business. The more effectively you manage it, the more successful and profitable your practice will be.
Considering hiring GPs from overseas for your practice? Before you invest money and time, make sure you’ve done your homework.
To reduce risk exposure, health professionals are investing in shares outside the health sector. JBWere’s Chief Investment Officer, Giselle Roux, details this trend.
Find out how to convert advertising into commercial strength for your practice.
Attention to business reporting will give your practice the information it needs to operate more efficiently.
No matter which area of the health industry you’re in, a higher or lower Australian dollar will impact on your profit margins when purchasing medical equipment or products from overseas or when recruiting staff from abroad. In the current situation, with the Australian dollar trading strongly, some GPs are buying equipment from online overseas medical […]
The complexities of the health system mean medical practices are not as straightforward as the average business when it comes to financing. Regulation, continual technological advances and changes in public policy all affect the economics of health businesses. Add to that a workforce of professionals whose services are in high demand and you have a […]
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