The Medicines Partnership of Australia PBS Scorecard shows low and sustainable PBS
An analysis of the Pharmaceutical Benefits Scheme undertaken by the Medicines Partnership of Australia shows that by all measures the system is working well and spending is well under control.
The new PBS scorecard report should allay any budgetary concerns the Federal Government may have about the PBS.
The scorecard shows that growth in PBS expenditure and prescription volumes has been trending down since mid-2010.
In the 12 months to 31 March 2011, the overall growth in PBS expenditure and prescription volumes was just 2.8 per cent and close to negative 1 per cent respectively. This is the lowest growth the PBS has seen in recent years.
As a proportion of Australian GDP, government expenditure on the PBS has remained steady over the last 10 years, at between 0.6 per cent and 0.7 per cent of GDP.
The 10-year average growth in PBS spending in the last decade (2000-2010) was comfortably the lowest since the 1970s and is trending downwards.
According to the Government’s own estimates, available in the Treasury’s forward estimates in last year’s Budget papers, the average real growth in PBS expenditure is likely to remain low in the foreseeable future, at 2.1 per cent.
The Medicines Partnership of Australia (MPA) is an alliance of peak industry associations
representing key members in the supply chain that delivers medicines and pharmacy
expertise to Australian consumers.