Cheaper medicines mean more money in the pockets of Australians and better health outcomes, particularly for people with chronic conditions. The Albanese government recognises this. Since coming to government we have significantly increased the co-payment for medicines on the Pharmaceutical Benefits Scheme.
Affordable health care is in Labor's DNA because we understand that good health is pivotal to people doing well and living a full life. The PBS scheme was established by the Chifley government. The coalition opposed it, just like they opposed Medibank and Medicare. The Albanese government is building on the great legacy of the Chifley government. Since coming to government we have approved extra funding for 227 new and amended listings on the PBS. In my electorate of Corangamite, cheaper medicines are playing a crucial role in easing cost-of-living pressures for individuals and families. As of 30 June this year, the total patient savings in my region was nearly $2.5 million and the number of reduced cheaper scripts was just under 200,000. When medicines are more affordable, people can manage their health without sacrificing other essential needs, such as food, housing and education. This balance is especially important for those with chronic conditions who require regular medication.
One of the many life-changing and life-saving drugs is Koselugo. Selumetinib, also known as Koselugo, will be included under the PBS for the first time to treat symptomatic, inoperable, benign nerve tumours in children two years old and over with neurofibromatosis type 1. NF1 is a rare genetic disorder affecting about one in 3,000 Australians. Individuals with NF1 commonly have tumours that cause symptoms such as headaches, pain and disfigurement and that lead to other complications, significantly impacting quality of life. Koselugo works by blocking certain proteins involved in the growth of tumour cells. This medicine is invaluable to the 170 children who are expected to access it each year. It significantly improves quality of life.
Without the subsidy, families may well pay around $146,000 per year for treatment. This is well beyond the reach of most families. On the PBS, they will pay no more than $31.60 per prescription, or $7.70 if they have a concession card. It's worth pointing out that under the Albanese government the maximum cost of a prescription on the PBS was lowered from $42.50 to $30 in January, the largest cut to the copayment in the 75-year history of the PBS. This has delivered about $20 million back into the pockets of Australians each month. And, since the Albanese government introduced 60-day prescriptions, more than 600,000 scripts have been brought into play, saving patients an estimated $5 million.
It should be noted that the coalition tried unsuccessfully to block this legislation, which was a nonsensical move when it has benefited so many Australians. All in all, by year's end, Australians will have saved more than $250 million on the price of their medicines, with even greater savings to follow later this year. It is easier now to see a doctor for free, with more bulk-billing services available since the Albanese government tripled the incentives that doctors get to bulk-bill pensioners, concession card holders and children under 16. Doctors in GP clinics in every state and territory have increased the availability of bulk-billing since the $3.5 billion investment came into effect on 1 November. More that seven million pensioners and concession card holders, as well as five million families with children under 16, are eligible for the higher Medicare payments. Together, these patients account for three out of five visits to the GP. Thanks to the Albanese government, a GP in one of the major cities will now receive 34 per cent more in Medicare payments to bulk-bill a standard 20-minute consultation with an eligible patient. These measures are delivering vital cost-of-living relief, ensuring Australians do well. (Time expired)
