Expanded and Accelerated Price Disclosure

This is an update on the Australian Government intended Expanded and Accelerated Price Disclosure (EAPD) policy and information on key timeframes in preparation for its commencement.

In 2010-11, the Australian Government intends to implement a major Pharmaceutical Benefits Scheme (PBS) sustainability package. This follows on from the PBS reforms initiated in 2007. An important element of this package is the significant strengthening of price disclosure through the Expanded and Accelerated Price Disclosure policy.

Subject to the passage of legislation, from 1 December 2010 all drugs on the F2 Formulary of the Schedule of Pharmaceutical Benefits will be subject to Expanded and Accelerated Price Disclosure. Amendments to the National Health Act 1953 giving effect to these reforms are currently before parliament.

The operational requirements of the policy are contained in proposed amendments to the National Health (Pharmaceutical Benefits Schedule) Regulations 1960. Preparation of these amending regulations is being finalised for consideration by the Executive Council once the legislation is passed by Parliament and receives Royal Assent. Detailed requirements of Expanded and Accelerated Price Disclosure is available through information packs and on the PBS website.

The Department will be hosting information sessions in conjunction with the independent service provider who will analyse the Expanded and Accelerated Price Disclosure data. These sessions will be held in the period leading up to the first data reporting period early next year and will provide information about the procedural and operational requirements of Expanded and Accelerated Price Disclosure policy. There will also be an opportunity to pose questions about the new arrangements. Invitations to these sessions will be sent out as soon as dates and locations have been confirmed.

Overview of key dates for the Expanded and Accelerated Price Disclosure Program

Date

Event

Location

23 November 2010

Information provided to industry via information packs and PBS website

www.pbs.gov.au

Week commencing
29 November 2010 (TBC)

EAPD overview questions and answers sessions hosted by the Department

Canberra (TBC)

1 December 2010

Proposed EAPD commencement date

N/A

Mid December 2010 (TBC)

EAPD Information sessions – compliance, operational and procedural requirements – hosted by the Department and the service provider

Melbourne, Sydney and Canberra (TBC)

February 2011 (TBC)

Further EAPD Information sessions – compliance, operational and procedural requirements – hosted by the Department and the service provider

Melbourne, Sydney and Canberra (TBC)

31 March 2011

End of the first reporting period

N/A

 

NOTE:

The reforms proposed in the legislation and regulations provide that Expanded and Accelerated Price Disclosure is expected to commence on 1 December 2010. While Responsible Persons may be required to collect sales, volume and incentive data, from this date, the data will not be due for submission until after the end of the first reporting period which is proposed to finish on 31 March 2011. The first possible reporting deadline for disclosure of data will not occur until mid May 2011.

 

Published: 23 November 2010