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PD breaking news – Major PBS funding reforms proposed

Commission of Audit says major PBS funding reform needed.

The Commission of Audit report released today has recommended a raft of changes to the Pharmaceutical Benefits Scheme (PBS) and the pharmacy sector, including increasing co-payments for PBS medicines and introducing a set funding envelope for the PBS over seven years.

Announced last year, the report looks at the Government’s efficiency and recommends actions to be taken to ensure spending is sustainable long term.

Recommended changes to the PBS include reforming the pharmacy retail model to encourage greater competition by deregulating pharmacy ownership and location rules.

“Such reform would be expected to lead to more efficient delivery and the development of alternative retail models – such as pharmacists available to dispense medicines at supermarkets.”

Another recommendation was the increase of co-payments for pharmaceuticals use.

General patients with costs both below and above the safety net would see the co-payment rise by $5, and the general safety net would increase to $1,613.77 under this recommendation.

Concession card holders would see a co-contribution of $2 once the $360 threshold was exceeded.

The report recommended a set funding envelope over seven years for the PBS, where new pharmaceuticals would be listed only if existing drugs were removed, or better prices negotiated, with a ‘PBS entity’ established to manage access to subsidised medicines and a mandate of providing reliable and affordable access to necessary medicines within the defined budget.

For more, see¬†tomorrow’s¬†Pharmacy Daily.


The above Breaking News Alert was sent to Pharmacy Daily subscribers on 01 May 14

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