Independent Broker Says Office of Fair Trading “Private Healthcare Market Investigation” Is Long Overdue
The Office of Fair Trading (OFT) has recently confirmed their decision to refer the Private Healthcare Market to the Competition Commission.
Back in 2010 the OFT started to look at the provision of Private Healthcare, a move fully supported by Bupa and many other major providers.
Independent medical insurance brokers M&L Healthcare Solutions (http://www.mlhs.co.uk/) say the OFT decision is “long overdue”.
M&L Healthcare Solutions was formed in October 2011 by business partners Stephen Maguire and Simon Lively who used to work for Bupa. They provide specialist independent advice to consumers looking for affordable healthcare insurance cover to ensure the right level of cover for their needs.
They also boast a knowledgeable team with over 100 years combined experience in the medical insurance industry, leaving them perfectly positioned to comment on these developments in the industry.
Senior Partner Stephen Maguire explained, “Currently the private hospital market is dominated by just 5 companies – General Healthcare Group, HCA International, Nuffield Health, Ramsay Healthcare UK and Spire Healthcare. These private hospitals receive the vast majority of their income from the Private Health Insurance Schemes and through agreements with Insurance Companies. Some also offer loyalty payments to consultants in return for treating patients at a particular facility. We share the OFT’s concern that this can stifle competition and efficiency, leading to unsustainable increases in health insurance premiums”.
Bupa have stated their desire to engage with The Competition Commission on behalf of their members. Mr Maguire believes that improved competition amongst providers and consultants will ultimately deliver better value and better service levels. Stephen said “We recognise that there have been disagreements in recent months between hospitals, insurers and doctors. It is looking likely that the NHS will continue to outsource more procedures, so it is vitally important that competition in the future will offer a better value for patients and customers alike”.
About: M&L Healthcare Solutions is an independent medical insurance broker based in Cambridge and Windsor. The company aims to give its customers value for money and peace of mind. M&L Healthcare Solutions offers advice on private and business cover.
They’re not affiliated with any insurance companies, so you can be confident the advice you receive is completely impartial.
Simon Lively
Phone: 01223 881779
Web: www.mlhs.co.uk/
M&L Healthcare Solutions is an independent medical insurance broker based in Cambridge. The company aims to give its customers value for money and peace of mind. M&L Healthcare Solutions offers advice on private and business cover.
They’re not affiliated with any insurance companies, so you can be confident the advice you receive is completely impartial.
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