With prescription drug costs increasing at a rate much higher than inflation, Canadian employers are faced with the challenge of maintaining their cherished prescription drug plans, while ensuring that those plans are sustainable well into the future. The only way to do both at the same time is to implement comprehensively managed drug plans. But these types of plans don’t just happen by accident.
In the business of prescription benefit management, we tend to talk a lot about numbers and statistics. We use expressions like “drug trend” and “total plan spending” to express what we do. The reason is simple: We are keenly aware of the fact that the current and projected cost of comprehensive prescription drug benefits is not sustainable. And what we do every minute of every day is work with employers and their insurance companies to curb and manage those costs.
Superbugs. You may have heard the word making the rounds, but if it brings up images in your head of cute little insect superheroes fighting crime, it’s time to adjust your thinking. In fact, superbugs are antibiotic-resistant bacteria that are quickly becoming one of the biggest health challenges of our time.
In the health benefit sector, prescription medications are usually divided into two primary categories, traditional and specialty.
What is the difference between a traditional and a specialty prescription drug?
Why are generic prescription medicines important to the sustainability of drug benefit plans and the overall health-care system?
In Canada, more than 70 percent* of all prescriptions are filled with generic medicines, yet they account for only 22 percent of the $26-billion Canadians spend annually on prescription medicines. On average, more than 1.25 million prescriptions are filled with generic medicines every day in Canada.