Drug Trends and Strategic Insights report
Toronto, ON (Sept. 15, 2020) – As COVID-19 continues to impact the Canadian economy and strain health care resources, these times call for a critical re-think of health care services and benefit plans, with a focus on adopting rigorously-tested solutions that increase the value of drug spend.
With these industry realities front of mind, health benefits manager HBM+ is today releasing its inaugural Drug Trends and Strategic Insights report, which presents drug claims and utilization data for HBM+ partner insurers and third party administrators (TPAs), representing over two million claimants and over $1.5 billion in annual adjudicated drug costs.
The report examines the latest drug directions and trends, including the use of opioids, biosimilars, and the evolving approaches to reimbursing health care professionals, as well as tangible cost management and health improvement solutions for plan sponsors and advisors.
It also provides a glimpse of the future, including the impact of pharmacogenomics, an exciting field that offers the potential to personalize the way drugs are prescribed and ultimately improve outcomes, and calls for the consideration of gene therapy strategies as these expensive new treatments emerge in the health care landscape.
“We are relentless at pursuing value in how we think about our drug formularies, plan member programs, and reimbursement structures,” explains Charles Rosen, Managing Director at HBM+. “This mindset is more important than ever in these challenging times as we determine how to balance the dual goals of sustainability and access.
“Our Drug Trends and Strategic Insights report provides a range of solutions that serve as a roadmap to achieving this goal now and in the future.”
Read the full report.
HBM+ is more than a pharmacy benefits manager, it is a health benefits manager. With offices in Quebec and Ontario, HBM+ provides customized white-label solutions that support drug, dental and extended health benefits for group benefits carriers, third-party payors, and government organizations across Canada. HBM+ is built on a foundation of proven technology, seamless branding, innovative claim management and administration capabilities, collaborative provider management, and solid industry expertise. They recognize that each client is unique and requires a business solution tailored to their needs. For more information, visit hbmplus.ca.
SOURCE: HBM+Tags: benefits, coronavirus, epidemic, health care, prescription drugs