Starting April 1, the cost of millions of prescriptions written by doctors will fall by as much as 40 percent, bringing more affordable medicines to health-affected Australians.
More than 300 drugs for high blood pressure, depression, dyspepsia and some cancers will cost as much as 5 yuan less. The price cuts are part of the federal government's "price disclosure" policy, which will save millions of patients more than 60 million yuan in medical fees over the next four years, especially for sick people.
More than 620000 Australians taking Esomeprazole (esomeprazole) can save $50 a year. This is a drug used to treat gastric acid and gastric ulcers.
More than 80, 000 patients taking olmesartan (olmesartan) can save 54 yuan a year.
Gary Cooper (Gary Cooper), a resident of Sydney's Ingleburn, suffered from severe reflux after eating spicy food and mistaking himself for a heart attack.
Over the past year, he spent nearly $4000 on Essomeprazole, the only painkiller. The 64-year-old welcomed the cut, saying it allowed him and his wife to save more money.
"any price cuts are good for us, because my wife and I live on government pensions," he said.
It is reported that the government's "price disclosure" policy obliges pharmaceutical companies to disclose how much they actually charge pharmacies for generic drugs over a 12-month period.
The policy, introduced in 2007, allows the government to count the average purchase price of drugs after pharmacies receive discounts, reducing taxpayers' and patients' costs.
Health Secretary Hunt (Greg Hunt) said the government was committed to lowering the price of popular drugs because "every penny is money."
"these cheaper drugs have also saved taxpayers 250 million yuan," he said. "all this money will be re-invested in new drugs under the medical welfare program (PBS)." Hunt said the government has provided more than 8.2 billion yuan in new drug subsidies since 2013.