A Toronto Star article recently identified three potential areas of savings under bulk purchasing of drugs that amounted to $2.48 million, $968,000, and $325,000. While these amounts are significant, it is just barely scratching the surface of what the potential savings could be from bulk purchasing and tendering of medications in Canada.
Former federal NDP leadership candidate
Martin Singh is a former federal NDP leadership candidate. Today, he is a Partner and Director for Precision Health and a Partner and Founder of Amritdhari Investments. Martin can be reached at email@example.com
The action that is currently being considered by the Conservative government is to extend the patent protection on brand-name drugs. The fact that the government would impose higher costs on Canadians, particularly for something as essential as medication, would be nonsensical even if the cost of medication were affordable.
06/19/2012 12:30 EDT
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