How does the health CPI work?
The health CPI adjustment is applied to all our contracts annually and reflects the changes in costs related to healthcare services and products. The CPI applied is based on data from the Australian Bureau of Statistics.
Converge applies CPI based on the current quarterly CPI rate on an annual basis, aligning with the contract renewal date.
CPI notifications are typically sent 1-2 months before a client contract renews. However, contractually, we are required to notify clients at least 1 month before the quarterly CPI takes effect at the time of notice.
This ensures that we can continue to offer high-quality services.