Transcript Drug pricing: are you getting full value?

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Drug pricing: Are you getting full value?
Solutions in Drug Plan Management 2011
Helen Stevenson
President & CEO, Reformulary Group Inc.
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Master
style drug plans…
Getting
outtitle
of employer
• Evidence-based formularies
– Funding every new drug at any price does not deliver value for money, and is
unsustainable
• Pricing, dispensing fees, generic rebates
– Look more closely at pricing, mark-up, frequency of dispensing, etc.
• Lower generic prices in almost every province
– Ensure plans are actually benefiting from lower generic prices; monitor shifts
from one brand to another in post-patent environment
• Negotiated listing agreements, and negotiate pricing (and sometimes
clinical criteria) for almost every new drug
– Explore joint purchasing initiatives among insurers on behalf of employers
• Support for pharmacy services
– Consider funding pharmacy services that support formulary and chronic
disease-related programs
©
Reformulary Group Inc., 2011
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Master
style drug plans…
Getting
outtitle
of employer
• Promote better health
– Develop programs to help employees better manage chronic conditions
• Programs focus on helping employees manage and adhere to their medications, as
well as providing information on diet, lifestyle and other options
• Value-based outcomes
– Implement mechanisms to encourage use of most clinical- and cost-effective
drugs; consider where better patient adherence or more appropriate use of
drugs may result in greater productivity, presenteeism, etc.
• Evidence-based research
– Harness available evidence on claims, trends and utilization
©
Reformulary Group Inc., 2011
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