Medibank Private lifts profit after bitter contract stoush

MEDIBANK Private’s bitter stoush over contract negotiations with private hospitals has contributed to a strong lift in profit for the insurance market leader.

The company has reported a 58% rise in interim net profit to $227.6 million, attributed to a health insurance cost-cutting drive including improved hospital contracts as well as a one-off tax benefit.

“The important thing for us is that we have done the hard work on product and claims management,” managing director George Savvides told investors in a briefing earlier today

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