Brain -> Universal pharmacare touted as way to save billions (6/20/2011 2:22:39 AM)
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Great idea. Lets get to it. I am all for prescriptions being part of public healthcare. Ontario is receiving awesome deals since they are the single largest purchaser of prescriptions drugs in the world. Universal pharmacare touted as way to save billions André Picard — Public health reporter The report suggested that doing rigorous drug reviews and price negotiations, as done in New Zealand, could generate annual savings of $9.3-billion. Savings from cheaper administration costs, eliminating federal tax subsidies to insurance plans and eliminating multiple private plans would produce more than $1.4-billion in savings, for a total of about $10.7-billion. The current approach to attract investment in the pharmaceutical sector inflates prices. The 120-page paper, prepared for the Canadian Centre for Policy Alternatives, argues that countries with national pharmacare programs, such as the U.K., France, Australia, New Zealand and Sweden, all have lower drug prices. Costs have increased twice as quickly in private drug plans as in public plans – in large part because they do not have bulk purchasing power. Administrative costs are also higher in private plans compared to public plans – eight per cent versus two per cent. B.C., in particular, is held-up as a model – where the drug plan pays for the cheapest equivalent drug, usually a generic. REPORT ON MEDICARE Canada's medicare system offers “top-notch care,” but measures need to be taken to contain costs to ensure the future of the popular program, the Organization for Economic Co-operation and Development warns in a new report. Among the measures recommended are the introduction of co-payments and deductibles to “encourage more responsible service use” and a need to rein in physician salaries, which are among the highest in the Western world. http://www.theglobeandmail.com/news/politics/universal-pharmacare-touted-as-way-to-save-billions/article1704881/ [image]local://upfiles/392475/B549CB666B6542E0B345C75A84387C75.jpg[/image]
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