Almost 100,000 patients are set to save hundreds of dollars per year as access to a chronic heart failure treatment is widened under the Pharmaceutical Benefits Scheme.

From November 1, criteria to access empagliflozin, known by the brand name Jardiance, will be expanded.

It's estimated almost half a million Australians are impacted by heart failure and 60,000 cases are diagnosed each year.

The condition impacts the ability of the heart to pump blood appropriately.

The Federal Health Department says when combined with standard care, the drug may reduce the risk of hospitalisation.

The new listing applies to patients with a left ventricular ejection fraction greater than 40 per cent.

The medication would ordinarily cost individuals more than $660 per year but will become available for $30 per script or $7.30 with a concession card.

Health Minister Mark Butler said about 180 Australians are hospitalised daily with symptomatic chronic heart failure.

"This listing will give patients access to a new treatment at a fraction of the cost they normally would have to pay," Mr Butler said.