A nationwide pricing plan for the pharmaceutical and other health technology industries has been established by the Ministry of Health (MoH).
In order to maintain interest in public health and a thriving private sector, the creative strategy, which was created through a broad collaborative approach, aimed at optimising price difficulties and their knock-on effect on consumers.
It also aims to provide a transparent structure for drug pricing to make sure that it is optimal for all parties involved, including the National Health Insurance Scheme's financial viability (NHIS).
In a speech given on his behalf during the strategy's introduction in Accra yesterday[June 29, 2022], the Minister of Health, Kwaku Agyeman-Manu, emphasised the need of sustained access to medical technology and medications.
Access
The minister claimed that extremely high drug prices put people out of their reach financially, especially the weak and the destitute, and that this jeopardised access to medicine.
The third edition of the National Medicine Policy (NMP), which recommended a number of policy interventions to help optimise medicine pricing for the benefit of patients, health insurance plans, private sector participants and businesses, as well as the health system, was introduced by the ministry in 2017, according to the statement.
Equity
In a speech delivered on his behalf, the WHO Country Representative, Dr. Francis Kasolo, stressed the need of fair access to important medications for improving patient health outcomes, including a decline in mortality.
According to him, a third of the world's population lacks access to important medications because of low availability and high cost.
Dr. Kasolo urged the creation of statistics for pharmaceutical price and information to guide decision-making while reiterating the WHO's continuous support.
According to him, properly thought out policies and methods might direct educated and reasonable choices to provide inexpensive access to medical supplies.
Dr. Kasolo praised the government for creating the policy, saying it will lower the cost of medications for the populace.
Affordability
Kofi Addo-Agyekum, a member of the Chamber of Pharmacy's executive council, asserted that if macroeconomic fundamentals like inflation, exchange rates, and interest rates were properly managed, drug costs might be steady and cheap.
In order to ensure the protection and sustainability of the private sector, he suggested a payment period of 30 to 60 days following the completion of supplies, stating that "the private sector can play its role effectively when such parameters that erode the value of its financial resources are checked."
Mr. Addo-Agyekum also urged the administration to guarantee that money for the National Health Insurance Authority be released as soon as possible (NHIA).