Controlling rising drug plan costs

Pharmacy benefit management strategies reduce waste, improve efficiencies
By Bill Bright
|Canadian HR Reporter|Last Updated: 04/02/2015

A prescription drug benefit plan is a key element in a total rewards program and it plays an integral role in employee health management. It’s also the biggest component of an employer’s medical plan costs. 

While the trend in drug plan costs has been moderate over the past several years, there are a number of factors that are expected to contribute to increased costs in the future — increased use of high-cost drugs, a growing number of employees and dependants with chronic conditions, and the shifting of public costs to private payers.