Pharmacists will work on-site in aged care facilities in a bid to improve medication management, including the overuse of antipsychotics as chemical restraints, according to the federal Minister for Health.

Greg Hunt has pledged $345.7 million for the scheme that will see a pharmacist in every government-funded residential aged care facility.

They will either be employed on-site or available via a community pharmacy service, with the program commencing from 1 January 2023.

Mr Hunt announced the measure at the Australian Pharmacy Professional conference on the Gold Coast on Friday.