Tasmanian Business Reporter June 2019
Welcome to the June edition of the TBR. This month we take an in-depth look at the recently handed down State Budget where despite falling Government revenue, significant infrastructure spending looks set to maintain Tasmania's economic momentum. You'll also find a wrap-up of the Federal election and what the results mean for the state, an update on the $300 million Cattle Hill Wind Farm project and insight into the future of health care from St.LukesHealth CEO Paul Lupo.
Welcome to the June edition of the TBR.
This month we take an in-depth look at the recently handed down State Budget where despite falling Government revenue, significant infrastructure spending looks set to maintain Tasmania's economic momentum.
You'll also find a wrap-up of the Federal election and what the results mean for the state, an update on the $300 million Cattle Hill Wind Farm project and insight into the future of health care from St.LukesHealth CEO Paul Lupo.
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6 <strong>Tasmanian</strong> <strong>Business</strong> <strong>Reporter</strong> - JUNE <strong>2019</strong><br />
THOUGHT LEADERSHIP<br />
Future of health care<br />
Paul<br />
Lupo<br />
CEO, StLukesHealth<br />
LOOKING after your health<br />
is a bit like looking after your<br />
car – it needs maintenance,<br />
fuel and rest.<br />
Imagine if you fed your car<br />
the wrong fuel or neglected to<br />
maintain the engine.<br />
It is unlikely your car would<br />
go the distance or be in your<br />
life for very long.<br />
Your health is the same, so<br />
why is it then that we neglect<br />
to take care of ourselves and be<br />
active participants in our health<br />
and well-being?<br />
At St.LukesHealth, we believe<br />
there are three pillars<br />
of health centred on staying<br />
healthy, getting well and living<br />
better.<br />
When we are younger our focus<br />
is more on wellness and as<br />
we advance in years, illness becomes<br />
more the consideration.<br />
It is easy to take life for<br />
granted and unfortunately it is<br />
only when we are faced with<br />
illness that we appreciate it.<br />
So, how well do you think<br />
you currently manage your<br />
health?<br />
If Tasmania’s health statistics<br />
are anything to go by, it<br />
could be better.<br />
About 70 per cent of all mistakes<br />
in medicine are the result<br />
of information not being available<br />
when a decision is made.<br />
There are similar challenges<br />
in the health system.<br />
We are seeing many advances<br />
around personal health and<br />
many of these are being driven<br />
by changes in technology and<br />
communications.<br />
In the US, 15 per cent of<br />
consultations with health providers<br />
are now virtual using<br />
audio or video facilities.<br />
Some have predicted that<br />
within five years’ half of all<br />
interactions with health providers<br />
will be using these techniques.<br />
Many of us do not have an<br />
overall vision of our health.<br />
Documents sit with our doctors<br />
and most of this documentation<br />
is in paper form meaning<br />
it can be easily lost in the<br />
system.<br />
How is it that your health-<br />
Devices are at the centre of future health care.<br />
care providers hold your health<br />
record and not you?<br />
Yet you are the one that<br />
needs to manage your health<br />
on a day-to-day basis.<br />
Personal health records are<br />
becoming the mode by which<br />
you can have all your health<br />
information at your fingertips.<br />
This may include information<br />
about allergies, illnesses,<br />
surgeries, immunisations, tests<br />
and screenings results.<br />
It may also include information<br />
about medicines taken and<br />
health habits, such as diet and<br />
exercise.<br />
Home devices, including<br />
fitness trackers and other<br />
smart devices can also contribute<br />
to managing health,<br />
with health information at<br />
your fingertips on a smart<br />
phone or other device.<br />
Now that is exciting.<br />
You can ensure your body is<br />
receiving the right fuel and<br />
the right maintenance.<br />
This is where the future of<br />
personal health really lies.<br />
Later this year<br />
St.LukesHealth will introduce<br />
a unique personal<br />
health record solution for<br />
members.<br />
Watch this space.<br />
www.tcci.com.au<br />
Helping your<br />
business thrive<br />
JUST as all financial<br />
institutions are different, so<br />
too are business bankers.<br />
Whether you’re after a<br />
simple business account or<br />
a complex business loan,<br />
you should feel confident<br />
that you have a dedicated<br />
business banker on your<br />
side. So, what makes a<br />
good business banker?<br />
Time is money – A good<br />
business banker should<br />
be available when and<br />
where you need them –<br />
responsive and flexible to<br />
help solve your financial<br />
challenges quickly and<br />
efficiently.<br />
Know how – They<br />
need the experience and<br />
expertise to help manage<br />
risk and build your<br />
business. They may not be<br />
an expert in your field, but<br />
they should get to know<br />
you and the industry you<br />
operate in.<br />
Supportive and reliable<br />
– Think about how much<br />
support you need as<br />
your business changes<br />
and grows. Ideally, your<br />
business banker should<br />
provide you with useful<br />
services and solutions to<br />
help you thrive at every<br />
stage.<br />
Paul<br />
Ranson<br />
CEO, Bank of us<br />
Nurturing trust –<br />
Banking arrangements<br />
are often long-term. A<br />
business banker should<br />
invest the time to develop<br />
and nurture your ongoing<br />
relationship. Open and<br />
honest communication<br />
really is key.<br />
One stop shop – It<br />
makes sense that your<br />
business banker can<br />
help you with both your<br />
business and personal<br />
banking needs. Also,<br />
consider whether your<br />
business banker has<br />
the authority and the<br />
discretion to make onthe-spot<br />
decisions. You<br />
want to be dealing with<br />
the person who is making<br />
the decisions and not a gobetween.<br />
Local knowledge – A<br />
good business banker<br />
knows the local market<br />
and what market forces are<br />
at play where you operate<br />
and in the wider economy.<br />
A local business banker<br />
is an invaluable partner to<br />
your business.<br />
We do business banking.<br />
RUNNING A BUSINESS ISN’T EASY<br />
AND WE GET THAT.<br />
At Bank of us, we are very business-y when it comes<br />
to business banking.<br />
From everyday business banking to overdrafts<br />
and business loans we have the goods. Our<br />
business banking comes with all the things you’d<br />
expect from a bank but with some very important<br />
differences, like fast, local decision making and<br />
flexible banking solutions.<br />
bankofus.com.au | 1300 306 716<br />
Bank of us is a trading name of B&E Ltd ABN 32 087 652 088<br />
AFSL & Australian Credit Licence 236870<br />
How unexpected.