New high-cost drugs are creating financial burdens for families and employers.
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Just a few months before his 19th birthday in 1977, Simon Fraser University kinesiology student Terry Fox was diagnosed with osteosarcoma and learned he would lose most of his right leg to amputation.
In the 16 months of chemotherapy that followed his surgery, Terry met many other young people with cancer and became deeply aware of the limitations of treatment and the immensity of suffering caused by the disease.
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.