Australia's PBS must be seen as investment in health

Continuing the improvement in the health of Australians seen over the last 40 years will only be possible if the Pharmaceutical Benefits Scheme is viewed as an investment in good health, says John Young, chairman of Medicines Australia, the body representing the country's research-based pharmaceutical industry. He told the National Press Club that PBS growth had slowed and is unlikely to reach projections outlined in the 2002 Intergenerational Report (IGR).

Mr Young said his industry is supportive of measures to ensure the PBS remains sustainable so that Australians can continue to access innovative new medicines in the future. The key is a wider patient-centric focus on the delivery of health care that focuses more on prevention, early diagnosis, and early treatment, not just on treating sickness, he told his audience, adding: "this means a holistic approach that includes lifestyle changes, as well as treating spending on health care as an investment in social wellbeing and economic productivity."

The federal government's commissioning of the IGR "was a far-sighted and commendable move, but some of its underlying economic assumptions for PBS growth had moderated significantly since it was published in 2002," he added.