After five years of investigations, the Competition Commission on Monday released its final report on its Health Market Inquiry (HMI).
In some cases, the report recommended significant changes to long-standing practices and regulations in the medical sector.
Bongani Bingwa speaks to commissioner Tembinkosi Bonakele on the outcomes of the report.
This report, unfortunately, leads one to conclude that the medical health market has failed.— Tembinkosi Bonakele, Commissioner - Competition Commission
He says the report suggests that a number of medical aid schemes do not give competitive pricing to consumers.
He says barriers to effective competition in the private healthcare sector mean that Netcare, Mediclinic and Life Healthcare control 80% of the private healthcare market.
The report suggests the regulation in the private health sector also seems to have failed. The schemes are supposed to be managing administrators and exercise oversight, but that has not happened.— Tembinkosi Bonakele, Commissioner - Competition Commission
Listen below to the full interview: