Drug cost containment strategies such as mandatory generic substitution and prior authorization rightly dominate discussions about trends in the health benefits industry. But is this preoccupation with cost containment distracting the industry from getting at one of the fundamental causes of poor plan member health and the enormous costs?
Several large B.C. public sector unionized plans have recently bargained new drug plans that mimic BC PharmaCare coverage. While the net impact will take some time to assess, there are some considerations for plan sponsors contemplating similar changes.
Governments that opt for prescription drug bulk purchasing agreements can save taxpayers money, but doing so may put patient health at risk, according to a report.
Our market in Canada could certainly benefit from following the American lead of data-driven decision-making. In addition, our industry in Canada has to stop relying on extrapolating and/or inferring impacts based on U.S. data because our worlds are completely different. We need to start focusing on answering our own questions.
The unprecedented convergence of the brand name drug patent cliff, combined with progressive generic price regulations in most provinces, has resulted in a dramatic and prolonged drug holiday (lower than historical growth of drug expenditures) the likes of which has never been seen in Canada. But in the absence of proactive and thoughtful approaches to […]
Canada's drug spend costs are not increasing as fast as previous years, says the Canadian Institute for Health Information.
A new study by U.S.-based Pharmacy Benefit Management Institute’s (PDMI) has found that American employers offering drug coverage need to take a look at how their specialty drugs are being managed.
Recently, a plan sponsor with approximately 2,000 lives asked its carrier for a potential program that centres on surveillance of narcotic drug claims. The sponsor was told nobody had ever requested that before.
Sick? Take a pill...or several. Canadians rely on medication to make them well when they are ill—and, for some people, to stay healthy. The medical system in Canada is treatment-based rather than preventative—the fact that full medical exams for healthy adults are no longer covered by OHIP reinforces that model.Employee benefits plans often follow this path as well and, ultimately, pay the price.
When drug plans are designed and managed properly, there is an opportunity for a win-win scenario for all key stakeholders involved. Drug plan management does not need to be a zero sum game, as it is often portrayed. A properly designed and managed plan that benefits everyone doesn’t happen automatically, but the process of getting there is far less complicated than many plan sponsors and advisors realize. The rewards can be significant.