Pharmaceutical Benefit Scheme: Opportunities, Challenges and Recommendations

Pharmaceutical Benefit Scheme
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Contents
Executive Summary.....................................................................................................3
Introduction...................................................................................................................4
General discussion of the issue...................................................................................4
Issues explored............................................................................................................6
Conclusions..................................................................................................................7
References...................................................................................................................8
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Executive Summary
The Pharmaceutical Benefit Scheme or PBS is the Australian government’s drug
subsidy program, which was established in 1948 under the act of Pharmaceutical
Benefits Act of 1947. The primary aim of the government while implementing this
scheme was proving the common Australians with affordable and appropriate
medication in less or subsidised price so that quality healthcare could be provided to
each countrymen. However, after application it faced several opportunities and
challenges which affected the application of this scheme in recent times.
Incorporation of newer medications in the PBS lists was one of the most crucial
challenges that affected the reliability and application of this scheme. This
assignment provided a detailed analysis of all such issues related to the PBS and
provided a specific analysis of its financial implication for the Australian economy.
Finally, it provided a set of recommendations using which the government can
increase its reliability and affordability to increase its application among the
countrymen.
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