Commission of Audit must look forward on PBS
Medicines Australia’s submission to the National Commission of Audit, released today, shows that the key issue for the Pharmaceutical Benefits Scheme is ensuring it is fit for purpose for listing new medicines.
“The bottom line is that a lot of the work to make the PBS financially secure in the long term has already been done,” said Medicines Australia Chief Executive, Dr Brendan Shaw said today.
“The industry has worked with successive governments over the last decade to ensure that the PBS is financially sustainable.
“The PBS is seeing falling spending levels, substantial price cuts, falling PBS to GDP ratios and is falling as a share of the health budget. This shows the reforms have delivered financial sustainability to government and the community.
“The important thing now is to ensure the PBS is able to list new medicines in a timely manner and that savings are re-invested in new therapies for the future.”
Medicines Australia’s submission call on the National Commission of Audit and the Government to:
- Acknowledge that structural reforms have delivered a sustainable model for funding pharmaceuticals through the PBS, with enduring mechanisms to generate ongoing PBS savings, such that no further savings measures are warranted.
- Review the Pharmaceutical Benefits processes, including the administration of the programme and its associated statutory structures (e.g. PBAC) to remove red tape and make them fit for purpose for the future
- Remove unnecessary processes which are now redundant in light of PBS reforms
- Commit to working with the pharmaceutical industry and relevant stakeholders to ensure a stable and predictable business operating environment in Australia
- Commit to working with the pharmaceutical industry and relevant stakeholders provide a stable industry and regulatory policy setting and encourage favourable investment strategies
Medicines Australia’s submission can be found here
Phone: (02) 8281 3204