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The economic case for universal Pharmacare |
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According to a study by the Canadian Centre for Policy Alternatives (CCPA) and Institut de recherche et d’informations socio-economiques (IRIS), a universal public pharmacare plan could generate savings of up to $10.7 billion on prescription drugs.
The study compared various provincial drug plans, identified problems with the status quo, showed how private drug plans are inefficient, and calculated the savings that could be achieved through a publicly-funded universal drug plan providing first-dollar coverage.
According to the report, Canada is the world's third most expensive country for brand name drugs because Canada deliberately inflates drug prices in order to attract pharmaceutical investment. Canadians pay 30 per cent more than the Organization for Economic Co-operation and Development (OECD) average.
Furthermore, not only are detail prices excessively high in Canada, but the rate of growth in prescription drug costs is also far higher.
The complete report is available free of charge from the CCPA website .
Source:Gagnon, Marc-Andre, and Hebert, Guillaume. "The Economic Case for Universal Pharmacare Costs and Benefits of Publicly Funded Drug Coverage for all Canadians",September 2010.
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