Pharmacy is set to see more delistings and stock shortages this year as a result of simplified price disclosure, GBMA president Belinda Wood warned over the weekend.
Presenting at APP2016, Wood said that the PBS has now been shown to be sustainable, with its average annual growth now negligible and the Government reaping the rewards.
“From a Government point of view, you’d say that’s been a really good policy.”
From the industry’s perspective, however, “frankly, the discount well is dry” with industry experiencing significant loss of revenue.
This is going to impact pharmacy down the line, she says. She told the conference that 68 PBS medicines were now less than $2, with another 149 between $2 and $5 – and $2 life-saving medicines aren’t sustainable, she says.
These low prices will lead to increased delistings, supply interruptions and less choice, increased cost and poorer health outcomes for the customer.
“Unsustainable pricing can lead to delistings, and I’m concerned that’s really going to ramp up this year.”