Reformulary Group has signed an agreement with the Great-West Life Assurance Co. to make its managed formulary available to the insurer’s plan sponsors.

The formulary was curated with the expert advice of an independent panel of doctors and pharmacists, which reviews research and evidence about drugs. 

Read: Reformulary Group launches early warning system for high-cost drugs

“The Canadian Institute for Health Information forecasts that employer-sponsored plans will spend approximately $236 million per week on drugs this year . . . and that number is increasing year-over-year” said Helen Stevenson, chief executive officer of Reformulary Group, in a press release.

“As the population ages and more high-cost drugs enter the market, Canadians are looking to their employers to support them in their health-care journey. At the same time, employers are looking for solutions to get better value from their drug plans.”

Read: Rising cost of drugs, benefits plans top priorities for employers: survey

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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