Equitable Life of Canada is implementing the Equitable Life Specialty Drug Management Program (SDMP) as an integral part of its drug plan management strategy.
To reduce costs, plan sponsors need to eliminate prescription drug waste
The Co-operators Life Insurance Company has signed a strategic alliance agreement with the Reformulary Group.
In recent years, private drug plan sponsors have been faced with a serious issue: an increase in the number of covered individuals claiming very high-cost drugs for several years. The impact on private plans is significant and is even threatening their sustainability.
The world of pharmaceuticals is changing. New, more effective medications are replacing older ones, more biologic treatments are being developed, advances are being made in treating catastrophic illnesses, and drug patents are expiring resulting in more and more generic alternatives becoming available. Canada’s population is changing, too. Our aging population means an increased demand for […]
Non-adherence to prescribed medication and lack of communication among the various healthcare stakeholders are two of the main issues that continue to plague Canada’s workplace drug plans.
The compounded annual growth rate of private market drug costs, at an overall market level, will be in the range of 1.6% to 2.8% between 2013 and 2017, according to a report.
With ever-bloating drug plan costs, sponsors need bite-sized solutions to get costs under control
Not long ago, drug cost management typically entailed reductions in coverage for plan members in the form of lower coinsurance, increased deductibles, dispensing fee caps, etc. It wasn't so much cost management as simply cost shifting from employers to employees.
Starting next month, Green Shield Canada is limiting new prescriptions of high-cost drugs to 10 days under its initial days supply feature.