THE Pharmacy Guild has seized on figures released by the Department of Health which forecast PBS spending of $11.2 billion in 2015-16 will decline by $800 million the following year, to $10.4 billion.
The numbers were provided in response to a question on notice from Parliamentary Greens leader, Senator Richard Di Natale.
After dropping in 2016-17 the figures are predicted to rise to $10.6 billion in 2017-18, $10.9 billion in 2018-19 and $11.13 billion in 2019-20.
Moreover PBS spending comprised 13% of total Commonwealth health spending in 2015-16, with this proportion expected to drop to just over 11% by 2019-20.
Guild executive director, David Quilty, said the figures confirmed the sustainability of the PBS and ongoing significant budget savings delivered via the PBS reforms.
"PBS expenditure through community pharmacy is the most sustainable part of the health system, with growth rates a fraction of the MBS and public hospitals...this fiscal sustainability is a direct result of the government's ongoing PBS reforms to which community pharmacies and the broader medicines sector have contributed," Quilty concluded.
The above article was sent to subscribers in Pharmacy Daily's issue from 16 Dec 16
To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 16 Dec 16
