Bitter pill over PBS savings shortfall

The Australian

6 November 2018 - A key savings measure for the Pharmaceutical Benefits Scheme came up $864 million short last year, after a similar shortfall the year before, prompting the federal government to quietly cease ­reporting on its performance.

Under price disclosure, pharmaceutical companies submit sales information to the government so it can adjust its payment to more closely reflect the price at which the medicines are supplied.

As a result, some medicines subject to competition come down in price, saving consumers and the government money.

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Michael Wonder

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Michael Wonder