Savings from extended role exceed NZ$100 million, says NZ’s PHARMAC

District Health Boards are poised to save more than $100 million over five years as a result of New Zealand’s Pharmaceutical Management Agency PHARMAC’s expanded role, the agency reports in its Annual Review, released yesterday.

PHARMAC now manages all medicines used in the community and DHB hospitals, hemophilia treatments, vaccines, and has begun negotiating national contracts for hospital medical devices.

Savings from hospital medicines and medical devices work are now significant, says chief executive Steffan Crausaz, noting that “savings from hospital medicines and medical devices since July 2013 now top NZ$100 million ($77.2 million) over five years after investments. And that’s just the very beginning for PHARMAC’s work in medical devices. While we’ve achieved savings, we’ve also extended access to a wide range of products, achieved nationally consistent access, and managed costs for DHBs.”