Tuesday , June 28 2022

How to pay for national pharmacies



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A new analysis in CMAJ (Canadian Medical Association Journal) http: // www.CMAJ.CA /look up/two /10.1503 /CMAJ.180 897 outlines the potential government cost of a Canadian national pharmacy program and sets approaches to changing drug financing in Canada to achieve billions of dollars.

"We believe that there is a convincing argument for the federal government to raise the incremental revenue needed to implement this long recommended expansion of Canadian medication," the doctors write. Michael Wolfson, Faculty of Medicine and Law, University of Ottawa and Steven Morgan, School of Population and Public Health, University of British Columbia.

Implementing a national pharmacy program in 2020 would require public funding of $ 9.7 billion and result in savings of $ 13.5 billion for the private sector due to lower private insurance costs, according to estimates by the parliamentary budgetary officer .

The authors suggest the use of a mix of federal income sources, including relatively small personal income taxes (0.5 percentage points), corporate tax rates (1 percentage point), and GST (0.25 percentage points).

For policy makers, advanced modeling tools can help inform the different approaches to funding a national pharmacy program.

"Without national pharmacies by 2020, Canadians could pay more than $ 4.2 billion for drugs than they would need under a comprehensive, comprehensive public pharmacy plan," the authors write. "Therefore, the question is not whether Canada can afford its national pharmacy, but rather how the government should raise the necessary public revenues and consequently who should benefit from net billions of dollars."

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"How to pay for national pharmacies" is published on November 26, 2018.

Podcast link post-embargo: https:/SoundCloud.com /cmajpodcasts /180 897-ana

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