FEDERAL BUDGET: Medicare to receive $8.5bill boost to encourage bulk-billing

The Federal Budget was handed down overnight with the Treasurer, Jim Chalmers, offering a range of incentives just weeks out from the unannounced federal election.

One of the sweeteners is a boost to Medicare that's worth $8.5billion, which the Federal Government hopes will lift bulk-billing rates - they have fallen in recent years due to a lack of incentives, industry leaders claim.

In 2022/23 over 1.2million Aussies did not see a general practitioner (GP) due to cost-related concerns. The Bureau of Statistics backs that fact up with 8.8% of Australians nominating 'cost' as their main reason for delaying or not seeing a GP.

The Government's aim is to realise a medical future that sees nine out of 10 GP visits bulk-billed by 2030. If realised the country will have an estimated 4,800 clinics, saving patients approximately $860million. Incentives will be provided to practices that choose to fully bulk-bill.

Medications will also be cheaper with the Government pledging to cap the price of a prescription under the Pharmaceutical Benefits Scheme (PBS) to $25. In addition to that, $1.8billion will go towards listing more life-saving drugs on the PBS.