Founded in Kelowna in 1970 by Barry Lapointe and Jim Rogers, KF Aerospace is a Canadian success story. Forty-seven years later, with 1,000 employees, KF is a pioneer in world-class maintenance, repair, overhaul and modification (MRO) services, has decades of experience as a commercial cargo carrier. The company is also the Prime Contractor for the RCAF Contracted Flying Training and Support program.
KF Aerospace has always been keenly interested in ways to improve the wellness of employees while being fiscally responsible. Based on the advice of CapriCMW, KF Aerospace decided to make the shift to a sustainable, better quality drug plan by implementing the Reformulary in 2016. The Reformulary enabled KF Aerospace to provide benefit improvements at the same cost: Better benefits in terms of more drugs covered on the formulary (drug list), as well as expert advice as to which drugs provide the best value using the DrugFinder™ tool. Members also benefitted from the company’s decision to pay a larger portion (reimbursement) of the cost of the drug for many drugs – this was KF Aerospace’s way of reinvesting savings achieved through the Reformulary.
“We achieved our goal: better benefits at the same cost. Implementation was very professional and well-planned, and communication was outstanding. Out of an employee base of 1,000, we had no complaints. All plan members were provided access to DrugFinder, a digital tool that enables them to find out what drugs are covered in the plan, and what alternatives exist,” commented Grant Stevens, Vice President Corporate Services at KF Aerospace.
The Reformulary “craft”: real-life success in sustainably reducing costs and improving care.