District Health Boards are poised to save more than $100 million over five years as a result of PHARMAC’s expanded role, PHARMAC reports in its Annual Review, released today.

PHARMAC now manages all medicines used in the community and District Health Board hospitals, haemophilia treatments, vaccines, and has begun negotiating national contracts for hospital medical devices.

Savings from hospital medicines and medical devices work are now significant, says Chief Executive Steffan Crausaz.

“Savings from hospital medicines and medical devices since July 2013 now top $100 million over five years after investments. And that’s just the very beginning for PHARMAC’s work in medical devices,” Steffan Crausaz says.

“While we’ve achieved savings, we’ve also extended access to a wide range of products, achieved nationally consistent access, and managed costs for DHBs.”

PHARMAC also continues to manage the combined pharmaceutical budget, a fixed budget for funding community medicines, cancer medicines and vaccines. PHARMAC added 26 new medicines to this list, while funding was managed on budget at $795 million.

For more details, go to: http://www.pharmac.health.nz/news/media-2014-12-11-annual-review/