NEWS September 04, 2025
Insurance concerns grow despite job satisfaction for Australia’s health professionals
Report finds financial insecurity amid high satisfaction
Australian healthcare professionals are reporting high job satisfaction but remain concerned about financial security and rising insurance costs, according to new research from specialist risk insurer PPS Mutual.
The 2025 State of Health & Wellbeing in Medical Professionals report, released this week, surveyed 442 doctors, dentists, and allied health professionals to assess their physical, mental, and financial wellbeing.
Satisfaction in professional roles contrasts with financial pressures
The report found that a significant majority of medical professionals – 81% – are satisfied with their roles, outpacing the national workforce average. Doctors and specialists expressed the highest satisfaction, while dentists reported lower levels.
Despite their commitment to their work, many respondents indicated that financial security lags behind other aspects of wellbeing, with mid-career professionals aged 30 to 45 feeling the most pressure due to mortgages, family costs, and practice expenses.
The survey used a five-point scale to measure wellbeing, with financial security rated at 3.66, compared to 3.95 for mental health and 3.77 for physical health.
No group rated themselves as “happy” with their financial situation, and the mid-career cohort recorded the lowest scores across all measures.
Exhaustion and administrative demands remain significant
Physical and mental exhaustion were identified as the most pressing challenges, particularly for younger and mid-career practitioners.
Administrative tasks, compliance obligations, and staff retention were also cited as ongoing stressors.
Dentists, in particular, reported the lowest wellbeing scores and were most likely to say their work negatively affected their health.
PPS Mutual chief executive officer Michael Pillemer said the findings highlight the dual reality facing medical professionals.
“The findings are encouraging but also make clear that role satisfaction can mask real pressures, particularly around financial security and fatigue in mid-career. For advisers, that’s a call to action,” he said.
He emphasised the need for advisers to provide clarity and tailored protection to help professionals understand and manage their insurance coverage as their careers evolve.
“High-quality risk advice doesn’t just mean having cover in place; it means helping professionals truly understand how that cover works, how it protects their livelihood, and how it evolves as their career changes. That combination of clarity and tailored protection is what transforms confidence into assurance and ultimately helps clinicians sustain the purpose that drives them,” Pillemer said.
Insurance confidence high, but understanding varies
Most respondents expressed confidence in their insurance coverage, with 85% indicating they felt protected.
However, only about one in three said they fully understood the potential financial impact of a major health event.
Income protection was the most widely held and understood policy, but mid-career professionals reported the lowest levels of clarity regarding their insurance.
Dr John Cummins, PPS Mutual’s chief medical officer, noted the broader implications for the healthcare sector.
“When a medical professional is forced to step back due to illness or burnout, the effects ripple outward: patients lose continuity of care, teams lose valuable experience, and the health system itself loses capacity. Fulfilment and strain can co-exist, and this research is a timely reminder of that reality,” he said.
Rising insurance premiums add to financial strain
The PPS Mutual findings come as insurance costs for healthcare professionals, particularly surgeons, reach new highs in Australia.
According to a recent report by the University of Notre Dame Australia, Flinders University, and the Australian and New Zealand Metabolic and Obesity Surgery Society (ANZMOSS), some surgeons are considering leaving the profession due to the increasing cost of professional indemnity insurance.
The report attributes these rising premiums to higher claims severity, greater frequency of litigation, and changes in the legal environment.
