AU PBS Reforms will save $7.4 billion
|Title: AU PBS Reforms will save $7.4 billion|
|PBS- Pharmaceutical Benefit Scheme of the Australian Government
News from the Pharmacy Guild of Australia
The PBS Reforms introduced in 2008 have seen the most significant changes to the scheme since
its inception over 60 years ago. The reforms have included:
˙Mandatory price reductions of 25%, effective from 1 August 2008, across drugs
representing approximately 50% of PBS prescriptions dispensed. This is in addition to the continuing policy of a minimum 12.5% price reduction when the first new brand of a drug is listed.
˙A new system of Price Disclosure, whereby manufacturers are required to provide
information to government showing the market prices of their drugs. Where there is a significant difference between the government price and the market price of a drug, the PBS price will be reduced to match the market.
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