We wrote a short note yesterday about RHC volumes. This is a follow on, using industry stats for general inferences.

Now the APRA data isn’t a perfect one for mapping to RHC sales, but still, there’s not a lot else out there to grab, and what hopefully leaps out from the below plot of PHI (private health insurance) payments to hospitals (hospitals only, the data drops out other stuff, including nursing homes etc) looks a lot better than the normal seasonal drop over the quarter (with your eyes, note that September is often lower than other months over time, most especially over the pandemic) and if maintained, means a lot fewer gaps in green relative to trend.

The below might be a touch easier, with the pre-pandemic trend line draw in (e.g only using data to just before 2020, in grey). Since COVID, it was a marked deceleration.

If RHC have put that behind them, hopefully all else will follow.

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