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 […]
There are some profound drug pricing discrepancies in existence within private sector drug plans that highlight the driving forces behind the end of the existing model of how private sector drug plans are administered and funded in Canada, and a move to a more plan-sponsor centric system. Given that the private sector is responsible for […]
The cost of prescription drug costs continues to be the topic of much discussion in the private sector as well as the public sector. Costs are going up at rates that far exceed inflation, and everyone is looking for a scapegoat. In Canada, we spend in excess of $20 billion on prescription drugs each year, […]