Between 1998 and 2008, the most popular topic of conversation in drug plan management was the brave new world of expensive specialty (i.e. biological) drugs. As everybody knows, the fear was that these revolutionary new therapies would hit plans and drive costs to unsustainable levels. The only problem was that during that period, it never […]
Despite the frenzy the legislation for lower generic drugs caused, leading plan sponsors to think it would equate to lower costs for benefits plans, those beliefs were quickly dispelled by industry professionals that pointed out generics are not widely used in drug plans. Suzanne Lepage, private health plan strategist from Kitchener, Ont. pointed out in […]
Suzanne Lepage, private health plan strategist from Kitchener, Ont. presented a thought provoking and education session at the Canadian Health and Wellness Innovations Conference, hosted by the International Foundation of Employee Benefits Plans in Las Vegas. Here are some of the key facts and figures from her presentation. For a more in-depth story on this […]
Recent legislative changes affecting the pricing of generic drugs have refocused employer attention on better management of drug plan costs. With the growing number of high-cost drugs in the pipeline, employers will face even greater challenges and the struggle to balance affordability with patient care will be more pronounced. However, by becoming more aware of […]
Drug plan management is certainly in the midst of changing times, from ever-increasing costs to drug reforms and innovations. On Dec. 1, 2010, more than 100 plan sponsors and other healthcare stakeholders met to discuss these and other drug plan management issues at the Toronto Face-to-Face Drug Plan Management Forum presented by Working Well. Generic […]
The healthcare landscape has drastically evolved since employers started implementing drug plans, but employers—and their consultants—have been slow to adapt to those changes, and their drug plans are now paying the price. “Changes in the market have been substantial, but plans haven’t changed too much. We need to evolve the plans more. Employers need to […]
Plan design as an important strategic plan management tool is back in business. The focus on plan design has been given a big boost by the technological expansion in the marketplace such as flexible, rules-based adjudication platforms and plan-specific design capabilities. There are a number of vendors across the country: some third party administrators (TPA), […]
I don’t claim to be an actuary, but how can a simple formula provide an appropriate valuation of a company’s drug plan liability for dynamic post-employment healthcare expenditures? Why would any plan sponsor want to overstate their estimated liabilities for future healthcare expenditures, and risk having to pull money out of other areas to fund […]
A year ago, the term preferred provider network (PPN) wasn’t liked in the pharmacy circle or within group benefits plans. Pharmacies detested the idea of having to being told what they could charge by influential employers, and plan sponsors weren’t overly comfortable telling their members where they should and should not do business. Amazingly, with […]
In retrospect, it looks like it might have been wise for Alberta to follow the followers in BC and Quebec and let the Ontario Government take the heat before introducing their version of generic drug pricing reforms. The Alberta story is a not a pleasant one for any plans and plan members that are paying […]