The Australian Competition and Consumer Commission (ACCC, 2021) is an independent statutory body that oversees competition and fair trading. It is currently reviewing an application by Honeysuckle Health (HH) and NIB to form and operate a buying-group to negotiate and manage contracts with healthcare providers on behalf of private health insurers (PHIs). HH is a joint venture of Australian health insurer NIB and Cigna Corporation, a global health services company based in the United States. Individual practitioners and healthcare providers have registered their concerns with the ACCC about the possible effects on choice and autonomy for patients and healthcare providers. The ACCC has released a draft determination that is broadly supportive of the proposal based on the balance of risks and benefits. We discuss the policy implications for patients and private psychiatrists in Australia.