PBS to save taxpayers $1.9 billion
The recent reform to the Pharmaceutical Benefits Scheme (PBS) is expected to save taxpayers $1.9 billion. As a result of the changes, the price paid by the Government to pharmacies for medicines will be more closely reflective of the market price instead of the current ‘listed’ price which can be significantly higher. The Minister for Health and Ageing, Nicola Roxon, announced the proposed changes to the PBS in May as part of a Memorandum of Understanding negotiated with the peak pharmaceutical body, Medicines Australia.