High-cost drugs accounted for 41.6 per cent of patented medicine sales in 2017, up from 8.3 per cent a decade earlier, according to the Patented Medicine Prices Review Board’s latest annual report. Federal Health Minister Ginette Petitpas Taylor tabled the report, which also illustrated a rise in the sales of patented medicines in 2017. Sales […]
The vast majority (87 per cent) of physicians said the knowledge that a patient has private drug coverage affects their prescribing behaviour, according to a survey by Merck Canada Inc. More specifically, the survey found 26 per cent of general practitioners and 28 per cent of specialists believe this knowledge widens the treatment options available to the patient. Other effects […]
Between 2012 and 2016, Canada’s total private drug claims market increased by a 4.7 per cent compound annual growth rate, according to new research by Innovative Medicines Canada. The analysis, which is based on IQVIA Inc.’s Canadian private drug plan claims database, aims to highlight the key drivers of private drug plan cost growth for the period. “Often the […]
A red flag goes up for Dan Mead whenever an orthotics customer comes into his clinic asking about getting free shoes. “Clearly, we do see the issue, because patients do come in to our office, just speaking anecdotally . . . and you can tell what they’re looking for,” says Mead, a certified prosthetist and […]
Orphan drugs represent a significant and growing share of new pharmaceutical entrants in Canada, according to a new report from the Patented Medicine Prices Review Board. At 54 per cent of new pharmaceuticals entering the market in 2015 and 42 per cent in 2016, orphan drugs have seen a significant rise from an average of 33 […]
The announcement in late January that 70 of the most commonly prescribed drugs will see their prices fall by as much as 40 per cent on April 1 was certainly welcome news for plan sponsors. The deal, reached by the pan-Canadian Pharmaceutical Alliance and the Canadian Generic Pharmaceutical Association, will bring the cost of some generic products down […]
Managing costs is the top benefits priority for American employers in 2018, according to an annual survey by global insurance brokerage Hub International Ltd. The survey, which polled 300 American employee benefits professionals, found helping employees make more informed benefits decisions (44 per cent) and improving wellness and productivity (32 per cent) also ranked highly on employer’s lists […]
The hepatitis C hump is over. Since 2014, Health Canada has approved several promising medications for the disease. While the direct-acting antivirals offer cure rates of more than 90 per cent, they cost tens of thousands of dollars, and benefits plans felt the pinch. But now, “after an initial spike in treatment requests, claims have […]
As the new year gets underway, it’s a busy season for predictions about what’s ahead for 2018. When it comes to employer-sponsored drug plans, costs have been a rising concern in recent years. According to projections released by Aon Hewitt in December, costs for extended health-care plans will likely rise by six per cent in […]
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 […]