Keith Stockall's Job Talk on the 7 August
I WAS BORN AT THE MATER HOSPITAL IN NORTH SYDNEY AND LIVED ON THE LOWER NORTH SHORE UNTIL I WAS 12 YEARS OF AGE.
MY PARENTS PURCHASED LAND NEAR CAMPBELLTOWN AND FOR THE NEXT 12 YEARS WEEKENDS WERE SPENT MILKING COWS, DELIVERING MILK AND GENERALLY DOING THINGS ASSOCIATED WITH A DAIRY FARM INCLUDING, SHOVELLING A LOT OF WHAT COWS PRODUCE OTHER THAN MILK, CUTTING AND BAILING LUCERNE. I ALSO PARTICIPATED IN LOCAL PONY CLUB EVENTS AND SOME INFORMAL RODEO ACTIVITY
WHILE AT SCHOOL I PLAYED BOTH RUGBY AND AUSTRALIAN RULES FOOTBALL.
SOMEONE THOUGHT I COULD DO BETTER THAN DELIVERING MILK AND I EMBARKED ON A CAREER IN ACCOUNTING WITH A FIRM OF CHARTERED ACCOUNTANTS. THAT WAS AN INTERESTING TRANSITION, NOT ONLY IN "OFFICE SURROUNDINGS" BUT ALSO ONE OF THE PARTNERS CALLED ME ASIDE ONE DAY, TO TELL ME THAT I COULDN'T USE LANGUAGE LIKE THAT IN THE OFFICE.
MY STUDIES AND EXAM RESULTS FALTERED FOR A COUPLE OF YEARS WHENEVER LECTURES INTERFERED WITH FOOTBALL TRAINING.
IT WASN’T UNTIL I REALISED I WASN’T GOING TO MAKE ANY MONEY PLAYING FOOTBALL THAT I BETTER CONCENTRATE ON MY STUDIES.
I MOVED FROM CHARTERED ACCOUNTING TO A COUPLE OF ASSISTANT ACCOUNTANT TYPE POSITIONS IN COMMERCE.
IN 1966 I COMMENCED A CAREER IN THE FINANCE DEPARTMENT OF QANTAS AIRWAYS LIMITED AND LEFT IN 1996.
DURING THAT TIME I HAD MANY VARIED AND EXCITING ROLES WHICH COVERED SUCH AREAS AS PASSENGER REVENUE OPERATIONS, MANAGEMENT ACCOUNTING, TREASURY, AIRCRAFT FINANCING, SUBSIDIARY COMPANIES, JET ABOUT HOLIDAYS, CORPORATE SECRETARIAT AND ENGINEERING & MAINTENANCE FINANCE. DURING THIS PERIOD I WORKED IN DARWIN, INDONESIA, FIJI, SAN FRANCISCO AND LONDON.
I ALSO ASSISTED QANTAS SECURITY STAFF WITH 2 SEPARATE FRAUD INVESTIGATIONS; ONE IN ATHENS AND ONE IN JAKARTA, BY PROVIDING FINANCIAL BACKGROUND RELATING TO THE RESPECTIVE FRAUDS.
WHILST AT QANTAS I FINISHED MY ACCOUNTING DEGREE, A DIPLOMA IN CORPORATE MANAGEMENT AND COMPANY SECRETARIAL QUALIFICATIONS. I AM A FELLOW OF THE NATIONAL INSTITUTE OF ACCOUNTANTS AND A FELLOW OF THE INSTITUTE OF COMPANY SECRETARIES.
ALSO DURING THIS PERIOD I MET LILLIAN, WE WERE MARRIED IN 1970; WE HAVE 2 DAUGHTERS KATE & EMMA & 1 SON-IN-LAW BRUCE.
IT WAS ALSO DURING THIS TIME LILLIAN & I PURCHASED A SMALL NURSING HOME AT CROYDON.
I JOINED ROTARY IN 1998
TREASURER IN 1999
COMMUNITY SERVICE DIRECTOR 2000
YOUTH SERVICE DIRECTOR 2001
PRESIDENT ELECT 2002-3
I AM CURRENTLY DEPUTY GENERAL MANAGER & COMPANY SECRETARY OF A PRIVATE HEALTH INSURANCE FUND. WE PROVIDE COVER FOR CURRENT AND EX STAFF AND DEPENDANTS OF THE COMMONWEALTH BANK AND SUBSIDIARY COMPANIES.
THERE ARE 43 HEALTH FUNDS IN AUSTRALIA CURRENTLY TWO ARE UNDER ADMINISTRATION. MOST OF YOU WILL KNOW OF MEDIBANK PRIVATE, HCF, MBF AND NIB. THEY ARE REFERRED TO AS OPEN FUNDS. THE REMAINING GROUP ARE WHAT WE CALL CLOSED OR RESTRICTED MEMBERSHIP FUNDS AND ARE USUALLY EMPLOYER OR INDUSTRY BASED, EG: TEACHERS HEALTH, NAVY, DEFENCE, TRANSPORT, BHP.
WE ARE SMALL IN TERMS OF TOTAL MARKET SHARE HOWEVER OUR TURNOVER IS APPROX. $80.0M P.A.
WE HAVE 53 STAFF AND 45,000 MEMBERS AUSTRALIA WIDE. WE OPERATE FROM ONE OFFICE AT PARRAMATTA.
WE BELONG TO THE AUSTRALIAN HEALTH INSURANCE ALLIANCE (AHIA) WHO NEGOTIATE CONTACTS WITH PRIVATE HOSPITALS ON OUR BEHALF. WE HAVE CONTRACTS WITH APPROX 380 HOSPITALS. THEY ALSO NEGOTIATE ACCESS GAP COVER ARRANGEMENTS WITH SURGEONS AND ACT AS A DATA WAREHOUSE FOR DATA WE ARE REQUIRED TO REPORT TO THE HIC & ATO.
OUR ADMINISTRATION COSTS REPRESENT APPROX. 6% OF INCOME COMPARED TO INDUSTRY AVERAGE OF 12% AND COMPARED TO SOME OF THE LARGE FUNDS AT 20%. WE DO HAVE A COMPARATIVE ADVANTAGE IN THAT WE OPERATE FROM ONE OFFICE SITE, NO CBD BUILDINGS, NO SHOP FRONTS IN LARGE SHOPPING PLAZAS, & NO WEEKEND COLOUR MAGAZINE OR TELEVISION ADVERTISING EXPENSES.
OUR INDUSTRY HAS TRADITIONALLY BEEN PAPER BASED. WE NOW HAVE A SYSTEM WORKING WHERE A MEMBER CAN SWIPE A MEMBERSHIP CARD WHICH HAS A MAGNETIC STRIP ON IT. THEY ARE IN USE WITH MOST DENTISTS, OPTOMETRISTS, PHYSIOTHERAPISTS AND CHIROPRACTORS.
CURRENTLY MOST HOSPITAL CLAIMS ARE RECEIVED ON PAPER. THE INDUSTRY IS WORKING ACTIVELY TO INTRODUCE A FORM ELECTRONIC CLAIMING.
IN THE JULY 2002 ISSUE OF CHOICE MAGAZINE WE RATED BEST VALUE HEALTH FUND IN ALL STATES, EXCEPT IN ONE HOSPITAL TABLE IN THE NT.
From the Bulletin Wednesday 14 August
Keith Stockall gave a Job Talk last week. In typical dry humour-style Keith started off by telling us he was brought into the world at Mater Hospital in the 1940s, and then continued in more serious mode about his youth on a dairy farming property.
He then went into accounting, and in 1966 he joined the staff of QANTAS, where he stayed till 1996. Keith holds an Accounting Degree, Diploma in Corporate Management and is a Fellow of the Institute of Accountants and Corporate Secretaries.
He is now Deputy General Manager and Secretary of a small private health fund which has a limited membership and an annual turnover of about $80 million. Leaps ahead of the major large funds, Keith’s company has an electronic system in place for their members for medical claims. Keith spoke with interest and ensured us that he is dedicated to his job and his customers.