Vaccines are one of the best public health investments the Government can make
A new report launched today by GSK Australia, Prevention: A Productivity Superpower, is a timely and important reminder of the role of vaccines in preventing diseases in Australia and their contribution to the nation’s productivity and economy. This cost-effectiveness analysis of addressing gaps in adult vaccinations and thereby preventing diseases like shingles, influenza, respiratory syncytial virus, pertussis and diphtheria shows a $1.1 billion benefit to the Australian economy.
Medicines Australia CEO Liz de Somer said today “This new report by GSK Australia, Prevention: A Productivity Superpower, demonstrates that for every dollar the Government invests in vaccinating adults in Australia, there is a $3.50 economic return. Vaccines are truly one of the best public health investments governments can make.
“Vaccines improve life expectancy and quality of life. The effective use of vaccines reduces demand on Australia’s health system including general practice, hospitals, other government services, while at the same time they boost productivity and economic participation. Australia does so well at vaccinating our children, we now need to extend this commitment to adults,” Ms de Somer said.
This report is an incredibly important demonstration of the potential impact of an adult vaccination program in Australia. It is also timely as it is being released as the Government considers the recommendations of the HTA Review released on 10 September 2024 by the Hon. Mark Butler MP, Minister for Health and Aged Care.
The HTA Review, Accelerating Access to the Best Medicines for Australians Now and into the Future, recommends reforms to reduce the time Australians wait for access to new vaccines.
“The central tenet of the HTA Review is to improve timely access to affordable medicines and vaccines to meet the needs of all Australians. The Review found that the additional steps involved with the National Immunisation Program (NIP) assessment of vaccines means it takes longer for Australians to access new vaccines than for Pharmaceutical Benefits Scheme medicines. This is clearly not in Australia’s health and economic interest,” said Ms de Somer.
“Medicines Australia supports the HTA Review recommendations to restructure the NIP listing process, and for proportionate reviews of vaccines based on complexity and the risks and benefits of the vaccine. We also support the recommendation to reduce the discount rate to 3.5% for health technologies with high upfront costs and long-term benefits to better capture the value of vaccines and argue it should be lowered further.
“Medicines Australia welcomes the Government’s commitment to pushing on with reforms through an independent Implementation Group and are looking forward to the establishment of this Group as soon as possible.
“We cannot lose reform momentum, patients are waiting,” said Ms de Somer.
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Media enquiries to Gail Morgan, Head of Strategic Engagement and Communications – gail.morgan@medicinesaustralia.com.au or 0412 926 348.