Someone just told me that the Pharmaceutical Benefits Scheme “saves Australia over 1.5% GDP in health costs”.
When questioned regarding the 1.5% figure, the author said it represented…..
“just the pharmaceutical costs saved.
If the PBS were removed, those that could afford to buy
drugs still would, but those that couldnt wouldnt simply not
buy any drugs, they’d buy cheaper, far less effective drugs
but in higher volumes.
The costs saved in that figure dont include, as you say, the
costs of keeping people out of hospital, nor does it include
the costs saved by keeping people out of GP clinics.But most
importantly, it doesnt include the costs saved by making
people healthier more quickly and cheaply, thus allowing
them to get back to work/family life quicker.Those costs
saved alone are enormous.
The PBS is one of the best pieces of public health policy
ever invented anywhere in the world at any time, by any
Feel free to add your own $0.02