PEAK industry bodies have welcomed Labor Government's 2024-25 Commonwealth Budget handed down last night, which introduced financial relief measures aimed at assisting patients and community pharmacies.
Key among these is the freeze of PBS co-payments, preventing annual CPI indexation for one year for all Medicare patients, and up to five years for pensioners and other concession card holders, (PD breaking news yesterday).
The Pharmacy Guild of Australia National President Prof Trent Twomey said, "the freezing of maximum medicine co-payments via the staged application of the discretionary $1 discount will help Australians struggling with the cost of healthcare and will restore universality to the PBS".
The Guild stated the policy is set to save patients approximately $318 million over the forward estimates, with an additional $166.4 million projected for 2028-29.
Additionally, pharmacies are set to receive a funding boost of $151.1 million over five years for the provision of Dose Administration Aids (DAAs), plus an extra $45.6 million in 2028-29.
The Guild stated these financial commitments were secured as part of the negotiations for the eighth Community Pharmacy Agreement (8CPA) to take effect from 01 Jul.
The 8CPA will also increase the DAA base cap from 60 to 90 per week per pharmacy, enhancing patient safety and compliance.
This is part of a broader effort to sustain a viable community pharmacy network, ensuring that healthcare remains a priority for all patients, said Twomey.
The Pharmaceutical Society of Australia (PSA) has also welcomed the Federal Budget.
National President Fei Sim said, "as negotiations on the 8CPA continue, PSA is highlighting the importance of funding for the delivery and quality improvement of pharmacist programs to further support patient safety".
The Budget will support the Aged Care On-site Pharmacists program, investing $333.7 million to embed credentialed pharmacists in aged care facilities from 01 Jul.
Critically, the Budget also confirmed funding for pharmacists to deliver vaccination services in aged care and disability homes, actioning one of PSA's key recommendations in its 2024-25 Federal Budget Submission.
In addition, all PBS medicines dispensed by a community pharmacy, hospital, or approved prescriber will now be covered by the Closing the Gap PBS co-payment, making essential medicines free or cheaper for First Nations people.
Sim also acknowledged the $160 million investment in women's health initiatives included in the Budget, which will help pharmacists deliver more services. JG
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