Drug Management Programs
This video, produced by Empire Life, provides the changing landscapes of the prescription drugs in Canada. There was an example of someone who exercises more than 3 times a week, fighting high cholesterol. The doctor describes how the prescribing pattern has changed over the last 10 years; and the industry expert describing how the changes affect group benefits plan.
With high cost drugs like biologics coming to the market, and offloading of government cost to private health plans, employers often find themselves facing rising premiums. The cost pressure of private plans is on and many private insurers of drug plans find their pricing not sustainable. Private insurers are working with groups like the Reformulary Group to develop evidence based formulary (or a list of prescription drugs), based on advice from independent expert committees. These committees evaluate prescription drugs on their clinical and cost-effectiveness. From this formulary, drug plans can ensure they are delivering the most effective medications for the best value.This video highlights the current status of the industry.
"We interviewed a few insurance brokers when looking for a plan and Donald was highly recommended by an industry colleague. Donald stands out as a confident specialist in the field and we ended up selecting him as our benefits advisor. He accommodates our company's specific needs, and he always exceeds our expectations."
— Irene Leung, General Manager, Quality Awning and Signs