PBS sustainable
June 2, 2014
THE Medicines Partnership of
Australia said significant savings
in the Pharmaceutical Benefits
Scheme (PBS) have been made,
representing a reduction in PBS
costs as a percentage of GDP,
slower PBS growth than other
sectors and lower pharmaceutical
expenditure growth than other
household costs and CPI.
The partnership released its
‘Pharmaceutical Benefits Scheme
(PBS) Scorecard (Budget edition)’,
which said savings from Expanded
and Accelerated Price Disclosure
and the Fifth Community Pharmacy
Agreement, which totalled $2.5b
over five years, were already
factored in to the 2010 Budget, so
the new savings were the result of
Treasury having underestimated
the impact of PBS reforms and
overestimated demand.
The latest forward estimates
showed that PBS expenditure as a
percentage of GDP was expected
to decline by approximately 1.5%
across the next four years, it said.
“With those savings come
significant - and growing - impacts
on all parts of the pharmaceutical
industry – manufacturers, the
supply chain and community
pharmacies.”
CLICK HERE to read the report.
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