Bitter pill to swallow
New year brings in fresh price rise for PBS prescriptions
The price of a Pharmaceutical Benefits Scheme (PBS) prescription will rise today to $31.60 for most Australians and to $7.70 for concessional patients.
A spokesperson for the Department of Health and Aged Care said the rise was in line with the Consumer Price Index and represents a rise of $1.60 for general patients and 40 cents for those patients holding a concession card.
The Safety Net threshold will also increase – by $14.40 for concessional patients (from $262.80 to $277.20) and by $84.40 for general patients (from $1563.50 to $1647.90).
The spokesperson said the rise was an annual requirement of the National Health Act 1953.
“For the first time in 75 years, the maximum cost of PBS general scripts fell 29 per cent in January 2023, from $42.50 to $30.00,” he said.
“Up to November 30, 2023, over 19 million prescriptions resulted in a patient saving due to the reduced general copayment, with the total national patient savings estimated at over $220m.”
The PBS Safety Net arrangements supported those who need to spend a significant amount on medicines each calendar year, the spokesperson said.
“From July 2022, the PBS Safety Net thresholds were lowered by the equivalent of 12 fully priced scripts for concession card holders and the equivalent of approximately two fully priced scripts for general patients,” he said.
“In 2024, although the copayments and Safety Net thresholds will slightly increase, patients are still paying less overall for medicines than in earlier years, due to the previous reductions to general patient co-payment and Safety Net threshold reductions.” A new discretionary discount also came into effect from January 2023 allowing pharmacies to have the option to offer an increased discount on a range of PBS medicines, specifically those that cost between $30.00 and $42.50.
From January 1, 2024, the increased discount range has been indexed to be between $31.60 and $48.10. Additionally, since January 2016, pharmacists have had the option to discount the PBS co-payment by up to $1. This would reduce concessional prescriptions to $6.70 and general patient prescriptions to $30.60 in 2024.
Another significant change to PBS prescription medicines in 2024 will be a staged increase in the number of medicines available for 60-day dispensing.
Under this scheme, patients can receive twice the medication for the cost of a single prescription.
The first stage of the scheme was launched in 2023, which saw 92 medicines added to the list. These medicines support patients who are stable on their current medications and have ongoing health conditions such as cardiovascular disease, Crohn’s disease, gout and high cholesterol.