St Vincent’s, Australia’s largest not-for-profit health and aged care services provider, has reached a new funding agreement with the private health fund, nib.  

St Vincent’s – which operates 10 private hospitals in NSW, Victoria and Queensland – said in July that it intended to end its agreement with the health fund (after a notice period of 65 business days) unless a new funding agreement could be reached.  

St Vincent’s believes that the new funding deal appropriately recognises the rising costs of providing private hospital care.  

St Vincent’s CEO, Chris Blake, said he welcomed the new agreement.  

“Exiting our agreement with nib was never the outcome St Vincent’s wanted,” said Chris.  

“This was the first time in our history that we’d given notice of our intention to exit an agreement with a health fund. 

“We want to work with nib – as we do with all the other funds – to keep patient premiums affordable while providing quality health services that deliver excellent outcomes.  

“For private health care to operate effectively, health funds and hospitals need to work together, for the benefit of members and patients,” said Chris. 

While the details of the new agreement are commercial-in-confidence, Chris Blake said the deal would allow St Vincent’s to cover its costs when providing care to nib members in its private hospitals. 

“Times have never been harder for private hospital providers in Australia. As a not-for-profit social enterprise, St Vincent’s needs to be able to cover its costs. 

“I’m very glad both parties have been able to use the notice period to dig a little deeper and reach a fair and mutually satisfactory agreement,” said Chris.  

Media contact: Paul Andrews 0409 665 495 

List of St Vincent’s private hospitals: 

• St Vincent’s Private Hospital Sydney 
• The Mater Sydney