PSR operates as an independent agency within the Australian Government’s Health portfolio, and reports directly to the Minister for Health. Together, the Director and staff form a statutory agency under the Public Service Act 1999.

To help guide its performance, PSR has defined its own values and behaviours, which are underpinned by the Australian Public Service (APS) Values. PSR’s values and behaviours of being fair, transparent and professional address the unique aspects of its business and environment, and guide PSR in performing its role.