PHARMAC is an abbreviation for the Pharmaceutical Management Agency, an entity responsible for the management of pharmaceutical products in New Zealand. With a focus on maximizing access to cost-effective medicines, PHARMAC plays a crucial role in the country's healthcare system.
As a government agency, PHARMAC is tasked with making decisions regarding which pharmaceuticals should be funded by the government, as well as negotiating prices and supply contracts with pharmaceutical suppliers. These decisions are based on comprehensive assessments of the pharmaceutical products, including their safety, efficacy, clinical benefits, and cost-effectiveness.
PHARMAC's main goal is to ensure that New Zealanders have access to essential medications at affordable prices. By assessing and listing medications on the Pharmaceutical Schedule, PHARMAC makes it easier for healthcare professionals to prescribe and for patients to access the needed pharmaceutical products.
Through their management and funding decisions, PHARMAC seeks to achieve equitable access to a wide range of high-quality pharmaceuticals for New Zealand's population, while also efficiently managing healthcare expenditure. They work in collaboration with health professionals, patients, and other stakeholders to ensure transparent decision-making processes and to provide appropriate information on funded medications.
In summary, PHARMAC is a government agency in New Zealand responsible for managing the country's pharmaceutical products, ensuring access to cost-effective medications, negotiating prices and supply contracts, and making informed decisions based on safety, efficacy, clinical benefits, and cost-effectiveness.
