The National Health Insurance Authority (NHIA) has told the pharmaceutical industry that it is addressing its worries about production issues brought on by rising production costs.
NHIA's spokesman, Barima Sarpong, stated that the organization was still assisting the industry.
We are able to pay our providers "almost every month," he said.
The Ghana National Chamber of Pharmacy, Pharmaceutical Importers and Wholesalers Association, and Pharmaceutical Manufacturers Association of Ghana claim that they have turned to the cash-and-carry system due to difficulties with production costs brought on by the depreciation of the cedi.
The groups claim that economic indicators including high inflation, high interest rates, an increase in fuel prices, and high utility costs are having an impact on the prices of raw materials, which has an impact on how much the finished product costs.
The NHIS depends on inflows that are not indexed to the dollar, and the worst-performing currency has been singled out as the cedi.
Thus, it is paying hospitals and pharmacies using an outdated payment system.
Pharmaceutical costs may rise by 1,000% as a result of the depreciation of the cedi, among other factors, according to Lucia Addai, Executive Secretary of the West Africa Manufacturers Association.
In 2022, the cedi has decreased by more than 50% in relation to the dollar.