From the CEO
As the mining boom sputters out, Australia is taking a long-overdue look at ways to improve its competitiveness in a cut-throat global marketplace.
The global business environment is changing rapidly. The economic rise and technological advances of many Asian nations may open up new markets for Australia, but it is also introducing new competitors.
News and Updates
A new report released today shows the Pharmaceutical Benefits Scheme (PBS) is proving a key driver to reducing overall Government spending on health.
Medicines Australia, CEO, Tim James welcomed the Australian Institute of Health and Welfare (AIHW) report Health Expenditure Australia 2012-13: analysis by sector.
“It’s no surprise that the PBS is one of the main drivers of efficiency in the health system. Even back in September the AIHW reported that total Australian Government health expenditure fell in 2012–13, with the PBS acting as one of the main drivers of that decrease,” Mr James said.
A report released today shows mortality rates from all types of cancer have dropped markedly over the past thirty years, coinciding with a range of ground-breaking new cancer medicines coming into the Australian market.
The Australian Institute of Health and Welfare (AIHW) report, Cancer in Australia in brief 2014, shows that despite an increase in prevalence of various cancers, survival rates have dramatically improved.
Medicines Australia CEO, Tim James, welcomed the report’s findings, which showed the overall mortality rate from cancer is expected to drop by 20 per cent from 209 deaths per 100,000 people in 1982, to 168 deaths per 100,000 people in 2014.
“Price cuts to over 100 PBS-listed medicines will again deliver hundreds of millions of dollars in savings to Government, patients and taxpayers,” Medicines Australia CEO, Tim James, said.
“These latest price cuts, which will take effect on 1 April 2015, reaffirm the medicines industry’s continuing contribution to the sustainability of the PBS.
“Ongoing price cuts to medicines through the Simplified Price Disclosure policy will continue to provide significant savings to government and ample scope to fund new and innovative treatments as they are developed.
The Mid Year Economic and Fiscal Outlook (MYEFO) released today did not include any reference to upward cost variations for the PBS; reinforcing what Medicines Australia has been asserting for some time, that new medicine listings are affordable.
Despite a revised Budget deficit for 2014-15 of $40.4 billion, over $10 billion larger than seven months ago, it appears that price disclosure reforms are keeping pharmaceutical benefits (and services) costs largely static at $10.5 billion.
Medicines Australia CEO, Tim James, welcomed the $300 million in innovative medicine listings made by Government since the Budget, and noted that they had been partially offset by significant price amendments.