Health Funding Facts update
The Australian Government announced a record $503 billion investment in our universal health system in the 2021–22 Budget. We’ve updated our Health Funding Facts tool to use the latest figures. Find out more about our key investment areas.
The Australian Government is improving health outcomes for all Australians, now and into the future. We will achieve this by investing in better coordinated and joined-up care in the community and ensuring that Australia’s health system is sustainable into the future.
Over the next 4 years, our key investment areas include funding for:
- Pharmaceutical Benefits Scheme (PBS)
- aged care.
$133.7 billion in public hospital funding through the National Health Reform Agreement (NHRA).
To increase the capacity of our health system, we have dedicated almost $9.9 billion extra (as at March 2022). This came from the National Partnership Agreement on COVID-19 response.
The NHRA reforms:
- support better coordinated care in the community
- focus on prevention and keeping people healthier longer
- reduce pressure on hospitals.
These systemic reforms will also help improve the experiences of people using services across the health, aged care, disability and mental health sectors.
$125.7 billion over the next 4 years in Medicare – Australia’s universal health insurance scheme.
This will guarantee Australians (and some overseas visitors) access to a wide range of health and hospital services at low or no cost.
Pharmaceutical Benefits Scheme (PBS)
$43 billion over the next 4 years to support the Pharmaceutical Benefits Scheme (PBS).
The PBS subsides the cost of medicine for most medical conditions. This means Australians can access and use a wide range of medicines at a more affordable price.
$18.3 billion to reform Australia’s aged care system. This is in response to the recommendations of the Royal Commission into Aged Care Quality and Safety’s final report and will support once in a generation reform of aged care.
The reform package focuses on 5 pillars:
- home care
- residential aged care services and sustainability
- residential aged care quality and safety
Use our Health Funding Facts tool to see how much funding your local hospital network and electorate receive from the Australian Government.