<\/p>\n
Ghanaians could find themselves in cash-and-carry situations at health facilities because of Ghana\u2019s forex challenges, Dr. Kwame Sarpong-Asiedu, a research fellow with CDD-Ghana, has warned.<\/p>\n
Because the pharmaceutical sector is heavily reliant on imports, Dr. Sarpong-Asiedu noted that the National Health Insurance Scheme will struggle to settle claims if it reviews its formula.<\/p>\n
The cedi has been singled out as the worst-performing currency and is selling at a little over GHS11.2750 to the dollar.<\/p>\n
At the moment, the NHIS is relying on inflows which are not indexed to the dollar.<\/p>\n
It is thus using a dated reimbursement formula to pay pharmacies and hospitals.<\/p>\n
\u201cTheir prices are not representative of the current market prices. In fact, they are about 35 percent behind the current market prices,\u201d Dr. Sarpong-Asiedu said on the Citi Breakfast Show.<\/p>\n
He added that reviewing the formula could see the \u201crude awakening\u201d of the drug bill going up exponentially.<\/p>\n
He expects this to result in delays in settling debts to hospitals and pharmacies<\/p>\n
\u201cWe might ourselves in a situation where cash-and-carry returns because the whole sellers will not be in a position to give credit on a long-term basis.\u201d<\/p>\n
Also on the Citi Breakfast Show, the\u00a0Executive Secretary of the West Africa Manufacturers association, Lucia Addai, said there could be an almost 1,000 percent increase in pharmaceuticals.<\/p>\n
She cited the cost of utilities, the cost of freight and the forex challenges as the main contributing factors to price rises in medication.<\/p>\n
\u201cGenerally if a medication was costing a dollar, because of all the factors I have mentioned, it could probably cost maybe 10 dollars or more,\u201d Mrs. Addai said.<\/p>\n