Legislation to cut the maximum general co-payment on PBS medicines was introduced into Federal Parliament on 7 September.
When passed, the legislation will cut the maximum PBS co-payment from $42.50 to $30 per prescription – a potential cost saving of $150 a year for one monthly script and $300-400 a year for two to three scripts per month.
Welcoming the legislation, Pharmacy Guild of Australia National President, Professor Trent Twomey says this is the single most significant change regarding the affordability of medicines in recent years.
Professor Twomey says that the Guild together with community pharmacists have been strong advocates for the reduction of medication costs and says that making medicines more affordable will help reduce medicine non-adherence.
“Making medicines cheaper will help reduce medicine non-adherence, which directly contributes to higher healthcare costs, including preventable hospital admissions and readmission,” he said.
Professor Twomey says this new legislation is also a big step towards addressing cost-of-living pressures.
President of Chronic Pain Australia, Fiona Hodson says the reduction in the co-payment will be welcome news to the one in five Australians living with chronic pain.
Medicine affordability is a key issue for these patients as they manage their complex and chronic conditions.
