Thursday 28 March 2024

Newer medicines can lead to cost savings and freeing up of hospital beds

Healthcare systems are not, as so often misunderstood, a drag on resources, but rather part of improving the quality of life and prosperity of a society. The relationship between healthcare systems, personal health and individual wealth is complex yet inextricably linked. Investing in a functional healthcare system in a cost-effective manner contributes to the ultimate goal of the well-being of the Maltese society.

This is the firm belief of the Pharmaceutical Research–Based Industry Malta Association, known as PRIMA, whose primary mission is to promote pharmaceutical discovery and development in Malta and to bring to the market medicinal products in order to improve human health locally.

Mr Mario Sciberras, President of PRIMA (pictured above), said: “Rather than a drain on the Maltese economy, when properly implemented, a healthcare system can be seen to be a productive sector. This, in turn, compels a re-examination of concerns about the financial viability of our healthcare system. Increased spending on effective healthcare can be one of the drivers of a more productive economy, while achieving higher levels of societal well-being”.

“As PRIMA, our priority is access to medicines for patients in Malta, and therefore we welcome the inclusion of new medicines on the Government Formulary List (GFL). Timely access to innovative medications is listed in the EU charter for patients` rights. If our country is to abide with EU legislation, Malta should ascertain that patients in Malta have access to new medicines according to set timelines” said Mr Sciberras. Whilst locally, the availability of medicines on the government formulary has improved, it is a fact that when comparing formularies across Europe, there are numerous innovative medicines available to other EU citizens which are not available to patients in Malta.

Innovative medicines are often misconceived as a cost rather than as an investment. Whilst cost containment has become top priority in most healthcare systems, it is a dangerous approach to the holistic management of a healthcare system.

PRIMA’s President explained how certain innovative medicines show better health outcomes resulting in a significant indirect cost saving for Malta’s healthcare system. Benefits include a decrease in emergency admissions, a reduction in the number of in-patient referrals, and a decline in disease-associated complications. “In turn, this results in freeing up hospital beds which, as everyone knows, is a huge cost burden to our healthcare system,” he said.

Healthy citizens contribute positively to society, form a productive workforce and require less health care, both acute and long term. In this regard, PRIMA’s focal point is to ensure that patients have access to the latest medicines that are of the highest standard possible and that are used as mainstay treatment in other European countries.

Furthermore, including newer medicines on the country’s formulary provides an important and essential incentive for research and development pharmaceutical companies to invest in further research, leading to more medicines that improve the therapeutic management of diseases. In turn, this will result in better healthcare outcomes for all strata of the Maltese society.

 

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