The industry is being held back by red tape and a ‘ridiculous burden’ says CEO Emma Hossack.
The Australian medical software industry has warned Treasurer Jim Chalmers ahead of next month’s productivity roundtable to ease the regulatory burden or lose innovation, jobs and profits overseas.
Medical Software Industry Association CEO Emma Hossack said the industry was being held back by red tape.
“The industry standard should be to spend 20% of time working on government approvals and compliance. In the current regulatory environment, it is more like 60% and in some instances as much as 80%,” Ms Hossack said.
“That is a ridiculous burden on the industry.
“The Productivity Commission estimates digital efficiency could save $5 billion a year in public hospital costs alone. That is a conservative number compared to the benefits our industry can provide across the broader medical sector.
“The majority of productivity gains tend to come from technological innovations. We have some incredibly innovative medical software businesses in Australia.
“All we are asking is for the Commonwealth government to release the regulatory shackles.”
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The MSIA, which represents about 140 organisations from the medical software industry including Oracle, Telstra Health and Pro Medicus, recently provided a submission on productivity to the new government.
Software from MSIA members provides a range of benefits to the medical sector including reducing duplication of tests and consultations, prevention of the wrong medicines being dispensed, and unnecessary emergency department presentations.
“Without our members, the modern healthcare system doesn’t work,” Ms Hossack said.
“People wouldn’t be able to book an appointment online or medical professionals have quick, easy access to tests and x-ray results.
“We have incredibly talented people in our industry and we want to keep them and their businesses on Australian shores.
“That way they can create more quality jobs here in Australia and increase their growing value to the national economy.
“We look forward to working with the federal government to do our bit in lifting the nation’s productivity levels.”