Re-imagining the funding wheel

Sustainable access to medicines.

Advances in targeted pharmaceutical therapies have led to significant improvements in health and life expectancy.

Innovative medicines

Innovative medicines increasingly have high price tags which provide challenges for health systems in ensuring sustainable, universal and equitable access to medicines for those who require them. There is a need for balance between access to new and effective medicines, and budget management. To achieve such balance, it is timely to consider how models of medicines financing in Australia can be structured differently to ensure support for equitable access to necessary medicines in the longer term.

Support for sustainable

On 10 February 2017, The George Institute for Global Health convened a special policy roundtable to examine models for the funding of medicines in Australia. The aim of this roundtable was to evaluate the potential structural and financial reforms required to support sustainable access to medicines for consumers within the Australian health system in this era of targeted medicines, and to formulate avenues for further exploration in this area.

More than 7000 medicines are currently in development globally; approximately 70% of these are innovative,
first-in-class biologics.

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