Orphan drugs represent a significant and growing share of new pharmaceutical entrants in Canada, according to a new report from the Patented Medicine Prices Review Board. At 54 per cent of new pharmaceuticals entering the market in 2015 and 42 per cent in 2016, orphan drugs have seen a significant rise from an average of 33 […]
The announcement in late January that 70 of the most commonly prescribed drugs will see their prices fall by as much as 40 per cent on April 1 was certainly welcome news for plan sponsors. The deal, reached by the pan-Canadian Pharmaceutical Alliance and the Canadian Generic Pharmaceutical Association, will bring the cost of some generic products down […]
Managing costs is the top benefits priority for American employers in 2018, according to an annual survey by global insurance brokerage Hub International Ltd. The survey, which polled 300 American employee benefits professionals, found helping employees make more informed benefits decisions (44 per cent) and improving wellness and productivity (32 per cent) also ranked highly on employer’s lists […]
The hepatitis C hump is over. Since 2014, Health Canada has approved several promising medications for the disease. While the direct-acting antivirals offer cure rates of more than 90 per cent, they cost tens of thousands of dollars, and benefits plans felt the pinch. But now, “after an initial spike in treatment requests, claims have […]
As the new year gets underway, it’s a busy season for predictions about what’s ahead for 2018. When it comes to employer-sponsored drug plans, costs have been a rising concern in recent years. According to projections released by Aon Hewitt in December, costs for extended health-care plans will likely rise by six per cent in […]
Canadians continue to pay more than most other Organisation for Economic Co-operation and Development countries for generic drugs, despite provincial and territorial policies that have greatly reduced prices in recent years, according to a new report by the Patented Medicine Prices Review Board. The Generics360 report found Canadians spent $165 per capita on generic drugs […]
While Amazon.com Inc. has Alexa and Apple Inc. has Siri, Morneau Shepell Ltd. is introducing a new virtual assistant designed to help employees with their human resources needs. Ava, which stands for automated virtual assistant, uses artificial intelligence to answer human resources questions through platforms used by both Morneau Shepell and its employer clients. “An ever-increasing number of employees are […]
The Reformulary Group Inc. has launched an app for its DrugFinder service that allows all Canadians to search the company’s curated list of medications. Previously only available to employees whose companies subscribed to the company’s formulary, the service allows users to find the cost, level of reimbursement and availability of any suitable alternative drugs. Read: Reformulary […]
Amidst all of the innovation that’s occurring in the drug industry, pharmacists have a role to play in helping employers navigate the changes, a speaker told participants at the Healthy Outcomes conference in June. “We can expect new medications to come onto the market in the next few years,” said Mark Rolnick, vice-president of payor […]
During the Healthy Outcomes conference in June, participants discussed ways to better understand the impact of drug plan offerings on employee health. Four groups of conference participants — moderated by Joe Farago, executive director of health-care innovation at Innovative Medicines Canada; Kirsten Garces, senior manager for value and access at Amgen Canada Inc.; Carmen Hogan, […]