19 October 2016 - Health funds will be under ­pressure to rein in insurance ­premiums after Health Minister Sussan Ley today reveals cuts of $86 million a year to the price of medical implants such as artificial knees, hips and pacemakers.

Under long-awaited reforms to the Prostheses List, which dictates how much insurers pay for health fund members to receive a range of surgically implanted ­devices, the federal government will first target those areas with the most inflated prices.

Ms Ley has taken advice from an industry working group, which highlighted how the regulated prices of cardiac devices, intra-ocular lens systems, hips and knees were “significantly higher, in many cases, than market prices based on available domestic and international data”.

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