This report analyzes healthcare and pharmaceutical spending trends in Australia, with a focus on the Pharmaceutical Benefits Scheme (PBS). It shows that while overall healthcare spending has increased, net PBS medicine spending has remained relatively flat due to rebates, price reductions, and generic competition. The analysis highlights a shift toward higher out-of-pocket costs for individuals, driven largely by non-PBS medicines. The report also examines the impact of innovation, patent expiries, and policy reforms on spending. It concludes that pharmaceutical spending control has been effective but may have downstream implications for hospital and medical costs.

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