Driving Sustainable Drug Plans
Discover why employers have their drug plans powered by Reformulary
Spend on specialty drugs like biologics is increasing rapidly. Some plans are spending half of their budget on a handful of biologic claims. We proactively manage specialty drugs on the Reformulary.
Employers have experienced unprecedented savings— between 9% and 27% on per member drug spend.
With Reformulary, you set the reimbursement ranges and control the pace of your savings. How the savings get used is up to you.
As more people subscribe to the Reformulary, our buying power with pharmaceutical companies grows stronger.
Drug plans powered by Reformulary boast an average generic penetration rate of 85%.
Annually, you may receive a graphic report showing your drug plan savings, together with member behaviour information and interesting claim trends.
Reformulary speaks to your employees through DrugFinder, as well as other best-in-class engagement tools.
Myth or Fact?
Think your drug plan is sustainable?
See which of the following statements
about your drug plan are true.
Employees are aware of the pressures to keep drug plans sustainable.
Fact: In a survey conducted by Sun Life, 7 out of 10 employees interviewed were aware of the cost pressures faced by employers in their drug plans, and the need to find sustainable solutions.
Our drug plan is only growing at about 2% per year; there is no need to do anything.
Myth: A 2.4% increase in drug spend per year translates into a half-billion dollars across the private sector in 2014 alone - with no extra value provided.
Specialty drugs, including biologics, are our biggest worry.
Fact: Biologics are effective treatment options for complex diseases - but they often come with a high price tag. In some plans, biologics represent 50% of overall drug spending, with only a few members using these drugs. Reformulary implements solutions to ensure your drug plan remains sustainable.
Reformulary means completely replacing my drug plan, and a lot of work.
Myth: When you subscribe, you simply replace your drug plan's existing formulary with our Reformulary. Nothing else changes. The Reformulary is already available on the TELUS and NexgenRx systems, through Sun Life and The Co-operators, respectively.
Drug plan changes are disruptive.
Fact: ...unless your drug plan is powered by Reformulary! Over 100,000 employees are using the Reformulary, with positive feedback. In fact, 85% of employees are taking preferred drugs after one year.
Subscribe to the Reformulary and get immediate access to...
An online tool that employees can use to find out exactly what drugs are covered in their plan, on which tier, and at what co-pay
Onboarding Launch Materials:
General or targeted letters to send to employees explaining the changes in the drug plan - along with step-by-step instructions on how to choose the best healthcare value drug in the Reformulary.
Informulary News Bulletins:
Regular newsletters that keep you on top of the latest Reformulary news and other drug plan updates.
An annual visual representation of the savings your drug plan has realized, together with member behaviour information and interesting claim trends.