Though many plan sponsors are still using step therapy to manage drug plan costs, pharmacogenetic testing is receiving attention as more providers enter the market, lower the cost and familiarize employers and insurers with the technology. As it becomes more sophisticated, there’s more information about how pharmacogentic testing works, says Sandra Ventin, associate vice-president at […]
Something interesting happened this month as we examined the 2018 experience of two different plan sponsors in two separate geographies with different demographics. The only similarity between the plans is they both have 80,000 or more individual claimants on their drug plan annually. At the same time last year, we completed a series of predictive analytics on […]
While insurers are consistently providing innovative plan design options for employers, that doesn’t detract from the reality that it’s a difficult time for employers, according to the Canadian Life and Health Insurance Association’s Karen Voin. “At the heart of it, they want to ensure they’re not impacting their employees, and are really conscious of what the impact […]
Spending on prescription drugs is expected to total $33.7 billion in 2018, according to a new report by the Canadian Institute for Health Information. Of that total, $19.3 billion will come from private insurance and individuals paying out of pocket, while the remaining $14.4 billion will be financed by the public sector. As a whole, drug spending […]
The Canadian Dental Association read with interest your Oct. 12, 2018, article titled, A look at the drivers for curbing rising dental costs. The CDA and every provincial dental association in Canada are concerned with the cost of dentistry. Each year, provincial dental associations develop fee guides that balance the cost of care with dental fees, knowing […]
The 2018 Calgary Drug Trends Summit shone a spotlight on a wide range of trends, from new advances in drug and lifestyle therapies to the impact of cannabis legalization on benefits coverage to drug plan cost management. Here are some of the highlights of the sessions: A look at pharmacist-led deprescribing using therapeutic nutrition intervention Achieving radiant […]
The landscape in the pharmaceutical world is forever changing, as drug costs continue to rise and drug plan sustainability is at risk, said Alberta Blue Cross’ Krystal Wynnyk at the 2018 Calgary Drug Trends Summit on Oct. 25. “We’re stuck trying to find a balance between plan sponsor costs and drug sustainability, and balancing that […]
A large majority (89 per cent) of employers cited a better control of health-care spending as the top reason for having workplace medical clinics, according to a new survey by Mercer and the National Association of Worksite Health Centers. The survey, which queried 121 U.S. employers offering onsite or near-site medical clinics, found 84 per cent of […]
Many effective strategies exist when it comes to managing specialty drug costs, but a coordinated approach that takes the financial, clinical and pharmacy elements into account is key to achieving a balance between access and spending, according to Telus Health’s Cory Cowan. Cowan, the organization’s director of professional services, told attendees at the 2018 Pharmacy […]
Medical plan costs paid by employers are outpacing inflation, according to a new report by Aon. In Canada, however, medical cost inflation is trending down, lower than both the global and North American averages. Aon expects Canadian medical costs to rise by six per cent next year. Factored against average general inflation of 2.1 per cent in 2019, […]