Pharmaceutical Benefits Scheme
Australia spends $10 Billion more than New Zealand to run the PBS, when accounting for populations size. In addition to that medicines in NZ are FREE, there is no $6/$30 co payment. We can easily save $10 Billion a year by adopting the identical policies of New Zealand and cost sharing the program costs.
Even though this will result in fewer medicines on the PBS, life expectancy in both countries is identical.
Bulk Billing
Bulk billing rates need to be increased and payments to doctors need to increase substantially to make this effectual. It is ridiculous that a trip to the doctor can cost you $100, but they can prescribe you a drug costing $500,000 for $30. Savings on the PBS will fund increased payments to bulk billing doctors.
Private Health Cover
The 30% government rebate on private health will be removed, leading to a saving of $6.5 Billion.