Commonwealth Department of Health
Price Disclosure represents the Australian Government’s single largest budget savings measures ever implemented. The Department of Health's annual report (p51) states that - 'PBS Reforms, including the Price Disclosure Program, saved the Government $2,014 million in 2014-15'. Total savings to date are estimated at over $5 billion.
PBS expenditure by government totals over $11 billion per annum, representing 13% of total Commonwealth health expenditure. On behalf of the Department of Health, AHA has administered the PBS Price Disclosure program since its inception in 2011. Under this program, AHA assists the Department to secure reductions in the prices of drugs listed on the PBS (F2 Formulary), which to date have resulted in government savings of over $5 billion.
AHA’s ongoing role includes:
Price Disclosure represents part of a suite of PBS reforms, tasked with seeking efficiencies in the management of the PBS, whilst continuing to offer Australians access to current and new medicines.