Canada could save $7.3 billion annually with universal public coverage of medically necessary prescription drugs.

Canada is the only developed country with a universal health care system that does not include prescription drug coverage.

New research from the University of British Columbia and University of Toronto, published today in the Canadian Medical Association Journal, shows that universal public drug coverage, also known as universal pharmacare, is within reach for Canada even in times of government fiscal constraint.

"It's a win-win," said Steve Morgan, lead author of the study and professor of health policy at UBC's School of Population and Public Health. "A universal pharmacare system would improve the quality and accessibility of health care, while saving the Canadian economy billions of dollars every year."

The study modelled the cost of universal pharmacare based on data from $22-billion worth of prescription drug purchases in 2012-2013. The study's calculations included the cost of increased use of prescription drugs by Canadians who currently can't afford to fill those prescriptions.

For more details, go to: http://www.sciencedaily.com/releases/2015/03/150316135139.htm