Before making changes to a benefits plan or building one from scratch, plan sponsors should first determine what problems they’re trying to solve, according to a human resources consultant. The reasons for implementing changes can vary, but moving forward without a clear motivation can cause problems, said Phyllis Retty, owner and human resources consultant at Lift HR Consulting, during […]
The pan-Canadian Pharmaceutical Alliance and the Canadian Generic Pharmaceutical Association have reached a deal aimed at reducing the prices for some generic drugs by as much as 40 per cent. While the parties are touting significant savings for Canada’s public drug plans, they also say employers and patients will benefit from price reductions of 25 to 40 per cent, as of […]
Universal pharmacare is an “overly simplistic” solution that risks cutting access to drugs, says a senior executive at one of Canada’s largest pharmaceutical companies. “It sounds like a lovely solution,” Julia Brown, vice-president of government affairs and market access at Janssen Inc., told the audience at Benefits Canada’s 2017 Face-to-Face Drug Plan Management Forum. But […]
Employers will see private drug plan costs rise by about six per cent annually over the next five years, according to a prediction by a health-care research company. Brad Millson, principal of health access and outcomes at IQVIA, presented the results of his firm’s 2017-21 forecast, produced in partnership with Innovative Medicines Canada, at Benefits […]
While Canadians hear about the high cost of drugs all of the time, “the sky is not falling,” said Jim Favaro, senior manager for private payers at Amgen Canada Inc. Favaro, speaking at the Calgary Drug Trends Summit on Nov. 23 on behalf of Innovative Medicines Canada, said he believes plan sponsors need to take […]
Keeping private drug plans sustainable is key for all Canadians. While measures such as mandatory generic substitution and prior authorization are standard solutions in many employer drug plans, costs continue to rise. As employers consider what to do next, there’s a role for pharmacy to play, according to Mark Rolnick, vice-president of payor partnerships and […]
Canadian physicians are becoming more familiar with biosimilars, according to a new survey by the U.S.-based Alliance for Safe Biologic Medicines. The organization’s new survey, which polled more than 400 Canadian prescribers of biologics from 13 therapeutic specialties, found 83 per cent of respondents are either familiar or very familiar with biosimilars, compared to 58 per cent […]
It’s hard enough for plan members to understand how they can best use their benefits plans, particularly when they’re unaware of the details of the fees charged by service providers. Consider drug claims at a pharmacy. Many plan members aren’t aware that the cost includes an amount for the drug itself, a markup by the […]
High-price drugs accounted for 40 per cent of patented drug sales in 2016, compared to 7.6 per cent in 2006, according to the Patented Medicine Prices Review Board’s 2016 annual report. The report, which was tabled by Minister of Health Ginette Petitpas Taylor last week, found the number of medicines in Canada with an annual […]
Seven years ago, sales of generic drugs were having a significant impact on drug plan costs. Those savings, however, are declining as overall pharmaceutical costs are climbing once more. Between 2010 and 2020, estimates suggest the demand for specialty drugs, including biologics, will grow by 600 per cent to more than $12 billion, according to […]