Health-care costs are projected to increase a whopping 130 per cent over the next eight years after a period of relatively flat growth, according to a study published by Mercer in 2017. One of the key drivers is rising drug costs, with expensive specialty medications and gene therapies making up the majority of new products in development. So […]
When RBC Insurance Services Inc. began offering pharmacogenetic testing to its group benefits plan sponsors and began a clinical study of the issue in relation to biologic drugs recently, it did so with a few things in mind. “There’s a number of issues we’re looking at as we consider how to approach addressing those issues, […]
Great-West Life Assurance Co. is expanding its benefits offering to employees, including increasing the maximum coverage for mental-health services to $5,000 a year, eliminating prescription drug deductibles on select plans and adding new paramedical services. “Our company believes in the importance of making a difference in the lives of our employees during moments that matter, which is why […]
One of the biggest changes in the benefits industry over the next five years will be the movement towards virtual care as a standalone category, said Tim Clarke at Benefits Canada‘s Benefits & Pension Summit in Toronto on Monday. “Whether you’re talking about telemedicine, whether you’re talking about virtual [cognitive behavioural therapy], you think about […]
At General Electric Co. Canada, part of Dr. Sol Sax’s job as consultant and medical director is to support and refine the company’s disability management process. That process includes everything from how the company helps to prevent workers from going on disability to monitoring them while they’re away and supporting their return to work. As part of its […]
The announcement in late January that 70 of the most commonly prescribed drugs will see their prices fall by as much as 40 per cent on April 1 was certainly welcome news for plan sponsors. The deal, reached by the pan-Canadian Pharmaceutical Alliance and the Canadian Generic Pharmaceutical Association, will bring the cost of some generic products down […]
The hepatitis C hump is over. Since 2014, Health Canada has approved several promising medications for the disease. While the direct-acting antivirals offer cure rates of more than 90 per cent, they cost tens of thousands of dollars, and benefits plans felt the pinch. But now, “after an initial spike in treatment requests, claims have […]
Green Shield Canada is rolling out a new biosimilar transition program as a pilot project through the first half of 2018, with an aim to extending it to all of its employer clients by the end of the year. The program, which was designed to help plan members transition from an originator drug to a corresponding biosimilar, will initially focus […]
Anyone who’s ever suffered from chronic pain will tell you it’s a great motivator. When you’re in pain, you’ll go to great lengths and will try just about anything to eliminate or reduce it. I know that from experience. The rising cost of prescription drugs is becoming a persistent source of pain for many employers. For some, […]
A group of 28 patient advocacy organizations are urging Health Canada to stop its review of drug pricing. The federal government announced changes to drug price regulation in December 2017, setting out proposals through the Patented Medicine Prices Review Board that it estimates will deliver $12.6 billion in net benefits over 10 years through lower drug costs. Read: Feds […]