Keyword: cost management

193 results found
How to predict benefits plan spending for January 2020

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 […]

  • January 29, 2019 September 13, 2019
  • 08:30
Employers, insurers have role in managing benefits plan sustainability

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 […]

Prescription drug spending in Canada to hit $33.7B in 2018: report

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 […]

  • By: Staff
  • November 20, 2018 September 13, 2019
  • 16:00
Sounding Board: Dental networks not the answer to reducing dental fees

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 […]

Conference Coverage: 2018 Calgary Drug Plans Summit

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 […]

Addressing drug plan sustainability in the face of rising costs

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 […]

Controlling health-care spending top objective of workplace clinics: survey

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 […]

  • By: Staff
  • November 7, 2018 September 13, 2019
  • 09:00
Successful management of speciality drugs requires a multi-pronged approach

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 […]

Health-care cost inflation to trend downward in Canada in 2019: report

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, […]

  • By: Staff
  • October 24, 2018 September 13, 2019
  • 09:15
Controlling benefits costs a top concern for HR professionals

Controlling costs on both the employer and employee side of benefits plans is a top concern for human resources professionals, according to a new survey by Hub International Ltd. The survey, which polled nearly 200 benefits decision-makers at Canadian organizations, found 36 per cent of respondents said employee costs are a concern and 32 per cent said employer […]

  • By: Staff
  • October 11, 2018 September 13, 2019
  • 09:20