With governments having announced a number of changes related to pharmaceutical policy, plan sponsors are facing a shifting environment for their drug plans. “There are a lot of things happening today in the world of pharmaceuticals, drug plans, benefit plans, pricing, reimbursement and access to drugs,” said Wayne Critchley, senior associate for the health and […]
With a number of government reforms and new policies in the works, plan sponsors may well wonder about the potential impact on private drug plans. With that in mind, Suzanne Lepage, a private health plan strategist, led a panel discussion on new government policies and programs in the works at the Face to Face Drug […]
Counterfeit pharmaceutical drugs are a rising risk to Canadians as they’re appearing in brick-and-mortar pharmacies, rather than just on the street or online, according to a new report by public policy think tank the Fraser Institute. It’s also a growing issue internationally and one that’s attracting the attention of policy-makers. But what does it mean for group benefits plans? Counterfeit […]
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 […]
Before making changes to a benefits plan or building one from scratch, plan sponsors should first determine what problems they’re trying to solve, according to a human resources consultant. The reasons for implementing changes can vary, but moving forward without a clear motivation can cause problems, said Phyllis Retty, owner and human resources consultant at Lift HR Consulting, during […]
The pan-Canadian Pharmaceutical Alliance and the Canadian Generic Pharmaceutical Association have reached a deal aimed at reducing the prices for some generic drugs by as much as 40 per cent. While the parties are touting significant savings for Canada’s public drug plans, they also say employers and patients will benefit from price reductions of 25 to 40 per cent, as of […]
Universal pharmacare is an “overly simplistic” solution that risks cutting access to drugs, says a senior executive at one of Canada’s largest pharmaceutical companies. “It sounds like a lovely solution,” Julia Brown, vice-president of government affairs and market access at Janssen Inc., told the audience at Benefits Canada’s 2017 Face-to-Face Drug Plan Management Forum. But […]
Employers will see private drug plan costs rise by about six per cent annually over the next five years, according to a prediction by a health-care research company. Brad Millson, principal of health access and outcomes at IQVIA, presented the results of his firm’s 2017-21 forecast, produced in partnership with Innovative Medicines Canada, at Benefits […]
While Canadians hear about the high cost of drugs all of the time, “the sky is not falling,” said Jim Favaro, senior manager for private payers at Amgen Canada Inc. Favaro, speaking at the Calgary Drug Trends Summit on Nov. 23 on behalf of Innovative Medicines Canada, said he believes plan sponsors need to take […]
Keeping private drug plans sustainable is key for all Canadians. While measures such as mandatory generic substitution and prior authorization are standard solutions in many employer drug plans, costs continue to rise. As employers consider what to do next, there’s a role for pharmacy to play, according to Mark Rolnick, vice-president of payor partnerships and […]