April Scott-Clarke
Over the past year, there has been a lot of movement from most of the provinces on drug pricing reforms. Today at the two-day Benefits & Pension Summit, hosted by Benefits Canada, a panel made up of a consultant, a plan sponsor, a pharmacy benefits manager and a pharmacist weighed in on the impact of these changes.
Here are some highlights from the session.
- Plan sponsors now need to take a closer look at their contracts. Do they actually have the controls on their drug coverage that they think they have?
- Plan sponsors can only expect so much latitude in drug pricing costs and must start thinking of other ways to deliver cost savings—possibly an increase in proactive measures.
- Pharmacies have had to find new ways to make up for the lost dollars due to the diminishing professional allowances. Cutting hours, cutting staff, increasing dispensing fees and a long-term change in business model and services are some of the measures underway.
The panellists for this session were Shawn O’Brien, senior consultant, health and benefits, with Aon Hewitt; Vic Medland, president, group insurance services, with Ontario Teachers Insurance Plan; Bessie Wang, director, professional services, with TELUS Health Solutions; and Rita Winn, pharmacists with Lovell Drugs.