register

News & Trends - Pharmaceuticals

New communications campaign to promote the reduced PBS co-payment

Health Industry Hub | March 8, 2023 |

Pharma News: A new communications campaign to promote the reduced PBS co-payment is being launched by the government with ‘Most PBS medicines now cost no more than $30 on the campaign materials.

Mark Butler MP, Minister for Health and Aged Care said “This isn’t just good for their hip pockets…this is good for their health. Every year, almost a million Australians defer or go without a script their doctor has said is important for their health, because they can’t afford it.”

The Australian Bureau of Statistics (ABS) data showed that more than three quarters of a million people put off buying medication because of the cost in the 2021-22 financial year. This equated to 5.6% of consumers, the first increase in the last ten years.

The reduced general co-payment for medicines listed on the PBS, from $42.50 to $30, is only benefitting about 8% (18 million) of PBS-subsidised scripts, despite costing taxpayers $786 million over four years.

On the other hand, the government’s decision to raise the cost of the concessional PBS co-payment from $6.80 to $7.30 is the largest price increase since 2005 and will make an estimated 150 million scripts more expensive for pensioners, veterans and other healthcare card holders.

The government said the reduced general PBS co-payment reduction was aimed at younger Australians between 15 – 24 years of age, females, people living in poorer and disadvantaged areas and those living with a long-term health condition. These consumers were identified by the ABS to be more likely to delay or not fill their scripts.

The safety net for both concessional and general PBS script holders has also been increased to about $20 and $120 respectively – the highest since 2009. This could negate savings for general patients with multiple medications.

Increasing the general PBS safety net from $1457.10 in July 2022 to $1,563.50 on January 1, 2023 offsets any of the publicised benefits, and restores its title as the highest general safety net threshold since its introduction nearly 40 years ago.

In reimagining healthcare across the entire patient journey, Health Industry HubTM is the ONLY one-stop-hub bringing the diversity of Pharma, MedTech, Diagnostics & Biotech sectors together to inspire meaningful change.

The exclusive leadership and influencer podcasts and vodcasts add huge value to our breaking news coverage. The content on Health Industry Hub is copyright protected and should only be accessed under individual user licenses. Please click here to subscribe and visit T&Cs here.


News & Trends - MedTech & Diagnostics

Government commissions review as 70% of private hospitals face financial crisis

Government commissions review as 70% of private hospitals face financial crisis

Health Industry Hub | June 14, 2024 |

MedTech & Diagnostics News: Despite playing a crucial role in providing acute care and surgical services, a staggering 70% of […]

More


News & Trends - Pharmaceuticals

Pharmacy Guild echoes ACCC red flags over Chemist Warehouse-Sigma deal

Pharmacy Guild echoes ACCC red flags over Chemist Warehouse-Sigma deal

Health Industry Hub | June 14, 2024 |

Pharma News: The Pharmacy Guild of Australia has echoed the significant concerns of the Australian Competition and Consumer Commission (ACCC) […]

More


News & Trends - MedTech & Diagnostics

Competition watchdog raises concerns over cancer care provider's expansion plans

Competition watchdog raises concerns over cancer care provider’s expansion plans

Health Industry Hub | June 14, 2024 |

MedTech & Diagnostics News: A leading provider of cancer care services in Australia, faces scrutiny from the Australian Competition and […]

More


News & Trends - Biotechnology

Aussie biotech secures first local CAR T patent

Aussie biotech secures first local CAR T patent

Health Industry Hub | June 13, 2024 |

Biotech News: A Melbourne-based biotechnology company which specialises in developing immune cell therapies for cancer treatment, has been granted its […]

More


This content is copyright protected. Please subscribe to gain access.