While the announcements two weeks ago that private sector generic drug prices are being lowered in Ontario, welcome news to any private plan sponsor, there are some significant threats to plans that could emerge that sponsors need to be aware of and insulate themselves from. It’s not surprising that in the current drug pricing debate […]
Shoppers Drug Mart created a stir on February 11 when they announced their fourth quarter and full year results by confirming the rumour that they would be expanding their famous private label line in 2010 to include generic drugs. What are the ramifications for plan sponsors? One would think that since private label products are […]
The significant price differences that exist between the public and private sector in many regions across the country is well documented. One other key difference between public and private sector drug plans that receives little attention, but needs to be a key consideration for private plan sponsors is the proliferation of listing agreements within the […]
It is amazing to see how many products and services have been commoditized over the past 10 to 15 years as access to the internet has evolved. While it is easy to understand the commoditization of flights or hotel bookings that are discreet transactions that often don’t exceed a few hundred dollars, it is fascinating […]
It might come as a surprise to most plan sponsors how much the abuse and diversion of narcotics and controlled drugs can be an issue inside their plan. Some plan sponsors assume that there is a method for pharmacies, insurance carriers and/or claims processors to deal with this issue at the point of sale, but […]
Until recently, generic drugs have been an afterthought when it comes to looking at ways to contain drug costs in private plans. Expensive biological drugs and the high cost of “me-too” brand name drugs and brand-name line extensions that offer little (if any) additional value have been the headlines in this area for years. However, […]
Many drug plan sponsors find it hard to believe that they can save 4% to 8% of their current spending simply by optimizing their existing plan design. Some plan sponsors assume that if this opportunity was available, they would have uncovered it long ago. Others assume that since their drug plan trending has decreased in […]
Many drug plan sponsors find it hard to believe that they can save 4% to 8% of their current spending simply by optimizing their existing plan design. Some plan sponsors assume that if this opportunity was available, they would have uncovered it long ago. Others assume that since their drug plan trending has decreased in […]
Some plan sponsors we have worked with over the past year in considering their 2007 and 2008 claims experiences have seen inflation rates within their drug plan as low as 3-4%. For a majority of other plans, they are hovering in the 6-8% range. It is rare to see the double digit annual cost increases […]
The Wikipedia definition of duct tape references that the product’s “strength and remarkable versatility make it a household staple throughout North America for general-purpose use.” For plan sponsors, while the use of plan-specific, transactional-level prescription drug claims data is far from a household staple, this data has remarkable versatility and can serve plan sponsors in […]