In July 2011, Medavie Blue Cross implemented a therapeutic substitution pilot program with a small group of pharmacies in Atlantic Canada. According to George Somers, director of professional and provider affairs at Medavie Blue Cross, the pilot was facilitated by new legislation and a subsequent interest by pharmacists and Medavie Blue Cross to explore new partnerships.
Many biologic drugs have a high price tag but they also provide employees a much healthier life and, in some cases, an easier return to work. So how does an employer balance the cost and benefit of biologics on its drug plan?
Besides the compelling love story between its two attractive stars, the movie Love and Other Drugs presents a rather enlightening glimpse into the relationship between doctors and the pharmaceutical sales community. It turns out that this complex relationship is no different than any other in the world of sales, and doctors rely on sales reps for information, training and support.
From a distance, it may look as though the drug plan benefits space has matured greatly over the past 10 years. However, as you get closer and examine what is happening today—and looking ahead to 2012—it can be frustrating to see how little the needle has moved in some areas.
Benefits management services provider Express Scripts Canada has announced the introduction of a new business model, which, it says, will enable companies to better control the costs of their drug plans.
Originally from our sister publication, CanadianHealthcareNetwork.ca. The number of new prescription medications covered by provincial and territorial insurance plans dropped substantially after a national review body began assessing the cost-effectiveness of drugs in 2003, a study has found. Researchers also discovered that newly approved drugs were listed for coverage more quickly in several of the […]
After two years of increasing inflation in health benefits plan costs, Canadian employers can now expect a break, according to a survey released by Buck Consultants. Insurers have lowered their expected inflation costs for health benefits premiums (including prescription drugs, medical expenses, hospital coverage and dental care) from 15% in 2010 to 14.4% in 2011. […]
Trend factors and, more specifically, health trend factors, use an organization’s experience with historical claims to forecast future healthcare benefits costs. Insurers apply these trends as a way to rate your plan. The trend factor captures anticipated increases in the cost of medical goods and services and considers changes in utilization patterns driven by factors […]
Watch this video The introduction of biologics to benefits plans is a double-edged sword: while biologics can significantly increase health outcomes for employees, they can also significantly increase costs for plan sponsors. But understanding how biologics affect your plan—and determining whether they help or hinder you—is about more than just basic costs. Plan sponsors can’t […]
With many details of U.S. healthcare reform still unknown, organizations are struggling to develop a long-term healthcare strategy, says a recent survey by Towers Watson. According to the Health Care Changes Ahead Survey Report, 88% of employers surveyed are planning small or moderate changes to their healthcare plans for 2012 and 45% will rethink their […]