The Australian government has announced significant new funding over five years, starting from 2024-25, aimed at reducing patient costs and improving access to essential medicines through the Pharmaceutical Benefits Scheme (PBS) and medicines and programs administered through community pharmacies. Key initiatives include:
New and Amended PBS Listings
The government will provide $3.4 billion for new and amended listings to the PBS. This includes substantial funding for high-cost medicines, such as treatments for early breast cancer and heart disease, and the continuation of COVID-19 oral antiviral treatments, with a total of $2.7 billion dedicated to these areas.
Support for First Nations Patients
The Budget will deliver even cheaper medicines for First Nations Australians. All medicines on the Pharmaceutical Benefits Scheme (PBS) dispensed by a community pharmacy, public or private hospital, or approved medical practitioner will now be covered by the Closing the Gap PBS copayment. This means eligible First Nations people who are registered on the Closing the Gap database will either get their PBS medicines for free if they have a Commonwealth concession card, or alternatively pay the discounted co-payment rate of $7.70.
National Immunisation Program
To support and expand the National Immunisation Program, $141.1 million will be allocated. This includes $57.7 million over four years from 2024-25 for expanding eligibility for the Shingrix vaccine.
An additional $0.9 million over two years from 2024-25 will be provided for the expansion of the National Immunisation Program Vaccination In Pharmacy (NIPVIP) program. This will allow pharmacists to administer vaccines in residential aged care homes and residential disability services. Furthermore, payments under NIPVIP will be indexed from July 1, 2024, in line with the indexation of the Medicare Benefits Schedule.
Continued access to COVID testing, vaccination and antivirals
$825.7 million will be allocated to ensure Australians can continue to access testing for, and vaccinations against, COVID-19. In addition, as well $1.3 billion will go toward COVID-19 oral antiviral treatments through the PBS.
Investment in HIV Prevention
The government has allocated $43.9 million for HIV-related measures, including $26.0 million over two years from 2025-26 for subsidized PrEP HIV medication for individuals living in Australia without access to Medicare.
National President of the Pharmacy Guild of Australia, Professor Trent Twomey said, "This funding is a crucial step towards ensuring all Australians have access to affordable and essential medicines. The expanded support for immunisation programs and the inclusion of new high-cost medicines will significantly improve public health outcomes."
