Hong Kong patients can expect to pay about 20 per cent less for some drugs following negotiations by public hospitals with pharmaceutical companies, as part of government efforts to bring down operational costs and medication prices.
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The negotiation is part of the public healthcare reform launched by the government earlier this year in a bid to enhance the system’s sustainability, step up support for patients with severe and urgent conditions, and reduce wastage of medical resources.
Hospital Authority chief executive Dr Tony Ko Pat-sing said he expected a range of initiatives to save authorities at least HK$1 billion (US$127 million), with measures including drug price reductions, an expansion of sources of suppliers and the implementation of energy efficiency measures.
One of the major moves was to bring down drug prices through the process of procurement.
“When drugs at the Hospital Authority are reasonably priced, we can use the [extra] money to buy more new drugs, or expand the [safety net] protection offered in the drug formulary,” said the authority’s chief pharmacist, William Chui Chun-ming, referring to the list of medications used in public hospitals and clinics.
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Chui, addressing a press conference on Wednesday, said a cost assessment panel was set up by the authority to conduct price negotiations with pharmaceutical firms. So far, 70 per cent of drug makers, most from foreign countries, were willing to give discounts at an average reduction of 20 per cent.