How the ÖGK explains its 400 million euro balance sheet loss

The Austrian Health Insurance Fund (ÖGK) reported a balance sheet loss of 399.5 million euros for the previous year. This is a slight improvement compared to 2022 (minus 410.9 million euros) and the fourth negative result in a row since the fund merger in 2020.

With a total budget of 18.8 billion euros, the result corresponds to a deficit of 2.2 percent, said the largest social insurance provider with 7.6 million insured people.

In the first full year following the pandemic, a catch-up effect was noticeable. Many people are using medical services that they had postponed due to the pandemic. 5.9 billion euros were spent on medical services in the outpatient sector, which is 31 percent of the total budget. The ÖGK therefore speaks of a record year.

28 percent more for hospitals

The share of the costs that the ÖGK has to pay for hospitals is increasing – 5.2 billion euros and 28 percent of the total budget was spent on this area. As part of the financial equalization, the ÖGK will receive 240 million euros, mainly for strengthening the outpatient sector.

Last year, 520 new contracted doctors were also recruited. Psychosocial care is to be expanded in the future.

Talks are to be started with the federal and state governments, the involvement of clinical psychologists in patient treatment is to be further intensified and a contract for the next five years is to be negotiated with their interest groups. “This is intended to ensure long-term care, cover health needs in a holistic manner and further increase the quality of care,” said Moritz Mitterer, Chairman of the ÖGK General Assembly.

The reserves of 1.4 billion euros transferred from the state treasuries to the ÖGK in 2019 as part of the reform are likely to have shrunk to around 900 million euros. According to a financial forecast from the previous year, the ÖGK’s deficit is expected to fall to 242.3 million euros this year and to 165.2 million euros by 2027.

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