Medibank has released its final report on the 2022-2024 Reconciliation Action Plan (RAP) and Accessibility and Inclusion Plan (AIP), highlighting steps taken to build stronger cultural engagement and workplace inclusion.
Under the RAP, the insurer worked with Wurundjeri Woi-wurrung Traditional Owners in designing its new Melbourne headquarters, which the company said gives staff daily opportunities to connect with Country.
It also partnered with the Australian Indigenous Doctors’ Association to strengthen cultural safety in healthcare services, introduced new forms of leave for Aboriginal and Torres Strait Islander employees, and exceeded its Indigenous procurement target, spending more than $7 million with Aboriginal and Torres Strait Islander businesses.
The AIP report noted progress in recruitment and workplace accessibility. Medibank maintained its accreditation as a Disability Confident Recruiter, applied universal design principles in the new Melbourne office, expanded mentoring and internship programs for people with disability, and advanced inclusion targets through data-driven measures.
Medibank confirmed that updated RAP and AIP strategies will be released, guided by employee networks, Indigenous stakeholders, and external partners.
The release of the RAP and AIP coincided with Medibank’s 2024 annual and sustainability reports.
For the 12 months to June 30, 2024, external customer revenue increased 4.7% to $8.18 billion.
Operating profit in the health insurance segment rose 6.3% to $692.3 million, while Medibank Health delivered a 36.7% uplift in segment profit, supported by growth in Myhealth.
After accounting for higher expenses, including cyber security upgrades, net profit after tax attributable to shareholders grew 59.6% to $492.5 million.
Medibank said its core health insurance business remained resilient, adding 14,400 resident policyholders, with ahm recording a 3.4% increase in membership.
The company reported more than 4 million primary care consultations through Amplar Health and Myhealth.
Preventive care and home-based treatment programs were estimated to have reduced hospital stays by 193,000 bed days.
Almost half of policyholders accessed Medibank’s health and wellbeing services during the year.
Internally, Medibank said efforts to simplify processes and encourage team autonomy have improved staff flexibility.
Survey data showed that 85% of employees felt able to balance work with personal responsibilities.
Medibank also reported progress on environmental and social targets.
As of June 30, 2024, 64% of electricity used across its operations was from renewable sources.
The insurer contributed $3.3 million to community initiatives and directed $4.4 million of procurement spending to Aboriginal and Torres Strait Islander businesses.
The company said its strategy remains focused on improving healthcare access, meeting long-term inclusion goals, and maintaining growth in a competitive insurance market.
