The Senate has approved (23 June) the PBS reform package, which Health Minister Sussan Ley says will result in price ‘slashes’ to more than 2,000 brands of common medicines, some by as much as half, from October 2016
The Pharmaceutical Benefits Scheme Access and Sustainability Package will have a budgetary impact as well, saving taxpayers some $2 billion over five years (2015-2020).
Under the reforms, pharmacists will be able to discount the PBS co-payment for patients by $1.00. Investment in primary care programmes for patients will be doubled to $1.2 billion over the next five years.
The Minister added that the “win-win for consumers and taxpayers” would ensure the future sustainability of the PBS and pharmaceutical supply chain.
“Consumers are the big winners from the passing of this package, with the overall price of thousands of common medicines to fall by upwards of hundreds of dollars per year,” Ms Ley said.
“The saving will be even higher for patients on multiple medicines, with a patient treating heart problems and osteoporosis set to potentially save as much as $600 or more per year.
“Patients with concession cards will also particularly benefit from our reform package, which will allow pharmacists the ability to discount their co-payment by up to $1 per script.”
The reform package resulted from the Government’s consulting with consumers, and the entire pharmaceutical supply chain
Ms Ley said the Abbott Government had already made over 660 new and amended drug listings worth almost $3 billion since it came to office – double the number Labor listed during their final three years.
“However, with spending on the PBS expected to reach $50 billion over the next five years, and another $2.5 billion worth of new listing recommendations in the pipeline, it was essential the Government moved to ensure PBS spending remained sustainable and new drugs could be funded,” the Minister said
“We need to ensure spending on existing medicines is as efficient as possible to ensure taxpayers can continue to invest in listing new and potentially life-saving drugs as well.”
