We can save $300m in the PBS with rules we already have. So why don’t we?

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The government shouldn’t pay more for a costly drug if a cheaper one is just as good. Instead, the government price should be fixed at the cost of the cheapest option. A new Grattan Institute  report shows how the government can save more than $300m a year in the pharmaceutical benefits scheme (PBS).

 

 

  • Drug companies would have to cut their price to match their cheapest competitor.
  • It will take a nibble out of drug company profits, but it might also nudge them towards research into truly innovative, breakthrough drugs.
  • The government can save over $300m by expanding the policy to drugs that were previously covered, and by comparing drug prices in a simpler and fairer way.

 

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