The ex-chief executive of Australia’s second-largest private hospital operator has sponsored health insurers’ claims they are being extracted by medical device manufacturers, saying the country is discussed to as a “treasure island” for the industry. Mr Hunt final week forbidden the insurers’ proposal to extend their premiums by a mean of three.5 per cent subsequent year, saying he was decided to maintain it at three per cent. Health funds say they pay global medical giants like Medtronic and Johnson & Johnson two or three times more than Australian public hospitals and international clinics for products such as replacement hips, which is a cost they must pass on to members. A spokesman for Mr Hunt stated the federal government was transporting probably the most vital reforms to medical insurance in over a decade, making it “easier to know and extra reasonably priced”, and that the $1.1 billion in promised financial savings on units “shall be achieved”. Prostheses account for about 10 per cent of wellbeing insurers’ prices Robert Cooke, who has 40 years of experience in the health industry including six as chief executive of hospital group Healthscope, said it was clear Australia “pay too much” for prostheses, which range from replacement hips through to medical sponges. It comes at a time when the sustainability of the personal system has been put in danger by individuals dropping out of medical insurance resulting from extreme membership charges, with personal wellbeing protection sliding from 47 per cent of the residents to 44 per cent over the previous 5 years.