drug pricing – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Thu, 21 Nov 2024 22:13:12 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Cancer treatments represented a third of medicines in clinical trials in 2023: report https://www.benefitscanada.com/benefits/health-benefits/cancer-treatments-represented-a-third-of-medicines-in-clinical-trials-in-2023-report/ Fri, 15 Nov 2024 14:00:04 +0000 https://www.benefitscanada.com/?p=162782 Cancer treatments represented 33 per cent of medicines in all phases of clinical trials in 2023, followed by treatments for infectious diseases (13 per cent) and central nervous system diseases (12 per cent), according to a new report by the Patented Medicine Prices Review Board. It found more than 12,000 new medicines were undergoing clinical […]

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]]> PMPRB report shows increased plan costs, promising pharmaceutical innovation: expert https://www.benefitscanada.com/benefits/health-benefits/pmprb-report-shows-increased-plan-costs-promising-pharmaceutical-innovation-expert/ Wed, 20 Sep 2023 13:00:50 +0000 https://www.benefitscanada.com/?p=143674 A recent report by the Patented Medicine Prices Review Board shows increased growth for private drug plan costs but promising pharmaceutical innovation, says Joe Farago, executive director of private payers and investment at Innovative Medicines Canada. The report also found the number of new medicines launched in Canada was higher than the median for Organisation for […]

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]]> Gene, cell therapies raising questions of drug cost responsibilities: expert https://www.benefitscanada.com/benefits/health-benefits/gene-cell-therapies-raising-questions-of-drug-cost-responsibilities-expert/ Fri, 21 Jul 2023 13:00:30 +0000 https://www.benefitscanada.com/?p=141260 The growth of gene and cell therapies are raising significant questions among private payers about who bears the responsibility for the costs of these treatments, says Tim Clarke, president at TC Health Consulting Inc. “One issue is whether this is going to be paid for by public health or if it’s an employer health issue. […]

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]]> Collaboration key in maintaining value of private payer health care: experts https://www.benefitscanada.com/benefits/health-benefits/collaboration-key-in-maintaining-value-of-private-payer-health-care-experts/ Thu, 10 Nov 2022 14:00:48 +0000 https://www.benefitscanada.com/?p=129562 Amid the increasing introduction of specialized medicines in Canada, key stakeholders in the private payer health-care sector are enhancing their collaborations to maintain the value of private drug coverage, said Joe Farago, executive director of private payers and investment at Innovative Medicines Canada, during a webinar by the Group Insurance Pharmaceutical Committee this week. “[The […]

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]]> Sounding Board: How employers can better support employees with rare diseases https://www.benefitscanada.com/benefits/health-benefits/sounding-board-how-employers-can-better-support-employees-with-rare-diseases/ Tue, 08 Nov 2022 14:00:31 +0000 https://www.benefitscanada.com/?p=129425 Imagine that a few pills a day could transform an employee’s life — that they could get back to work, perform better, have fewer sick days, be more present and avoid continuously deteriorating health. Now, what if this life-changing medicine is for a rare disease that isn’t covered under the employee’s benefits plan because of […]

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]]> Total drug costs, claimants up in 2021: report https://www.benefitscanada.com/benefits/health-benefits/total-drug-costs-claimants-up-in-2021-report/ Fri, 23 Sep 2022 13:00:53 +0000 https://www.benefitscanada.com/?p=127274 Total drug costs grew to $2 billion in 2021, rising steadily from $1.4 billion in 2017, according to Green Shield Canada’s annual drug trends report. The report, which is based on claims reported by Green Shield Canada, found the number of claimants also increased from 1.9 million to 2.1 million over the same period. While […]

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]]> How PMPRB amendments could impact employers, drug plan design https://www.benefitscanada.com/benefits/health-benefits/how-pmprb-amendments-could-impact-employers-drug-plan-design/ Thu, 30 Jun 2022 13:00:50 +0000 https://www.benefitscanada.com/?p=123274 The amendments to the Patented Medicine Prices Review Board regulations are officially taking effect July 1, after being delayed multiple times. The changes, which were originally proposed in 2019, are the first significant update to the regulations in more than 30 years. After consulting with stakeholders, Health Canada will be moving forward with the implementation of […]

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]]> Fewer plan members making drug claims, but specialty medications increasing average eligible amounts: report https://www.benefitscanada.com/benefits/health-benefits/fewer-plan-members-making-drug-claims-but-specialty-medications-increasing-average-eligible-amounts-report/ Thu, 23 Jun 2022 13:00:32 +0000 https://www.benefitscanada.com/?p=123303 As the coronavirus pandemic continues, fewer Canadian benefits plan members are making drug claims, according to Telus Health’s annual drug trends report. The report, based on the drug claims activity of more than 10 million plan members in 2021, found just 56 per cent made a claim in 2021, reflecting a decreased frequency of in-person […]

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]]> 2022 BPS coverage: Medications for inflammatory disease, diabetes account for top eligible drug costs https://www.benefitscanada.com/benefits/health-benefits/2022-bps-coverage-medications-for-inflammatory-disease-diabetes-account-for-top-eligible-drug-costs/ Fri, 17 Jun 2022 12:47:29 +0000 https://www.benefitscanada.com/?p=122674 While medications used for treating inflammatory disease accounted for just 0.7 per cent of claims across Telus Health’s Canadian block of business in 2021, they represent the largest percentage of eligible drug costs at 12.6 per cent, due to the prevalence of high-cost treatments in this drug class. By comparison, diabetes medications accounted for 12 […]

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]]> Implementation of drug cost-control program violated collective agreement: arbitrator https://www.benefitscanada.com/benefits/benefits-law/implementation-of-drug-cost-control-program-violated-collective-agreement-arbitrator/ Mon, 16 May 2022 13:00:09 +0000 https://www.benefitscanada.com/?p=121441 A British Columbia labour arbitration decision is providing insight on how a block level implementation of a benefits provider’s drug cost-control program violated a collective agreement in a unionized workplace. The Douglas College Faculty Association grieved the implementation of Manulife’s DrugWatch program contravened their collective agreement, which ensured “there will be no change to the […]

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