The Reformulary, now available through Great-West Life, enhances drug plan sustainability for plan sponsors
DrugFinder puts expert information in hands of employees – so they can make smarter drug choices
Toronto, ON – February 26th, 2019 – Reformulary Group, a Canadian healthcare and technology company, announced today a signed agreement with The Great-West Life Assurance Company, a leader in the group retirement and benefits marketplace in Canada. The agreement will make the Reformulary® available to select plan sponsors with Great-West Life benefits plans, effective April 2, 2019. In doing so, participating plan sponsors will have a new option geared towards helping employees make smart drug choices and enabling drug plan sustainability.
The Reformulary is an evidence-based, managed formulary curated with the expert advice of an independent panel of doctors and pharmacists, which reviews massive amounts of research and evidence about drugs. Plans powered by Reformulary achieve significant savings and encourage members to make smart choices about the drugs they take. The Reformulary is widely used by Canadian employers and employees.
“The Canadian Institute for Health Information forecasts that employer-sponsored plans will spend approximately $236 million per week on drugs this year (and $12.3 billion for the year) and that number is increasing year-over-year” said Helen Stevenson CEO of Reformulary Group. “As the population ages and more high-cost drugs enter the market, Canadians are looking to their employers to support them in their healthcare journey. At the same time, employers are looking for solutions to get better value from their drug plans.”
Employees covered by Great-West Life will have access to DrugFinder™, winner of the TELUS Outstanding Product Achievement Award for 2018. The intuitive app allows Canadians to search and look up prescription drugs that provide the best combination of clinical and cost-effectiveness. DrugFinder enables users to make smart drug choices based on scientific evidence and independent medical advice – thereby giving them greater control of their health. DrugFinder also provides doctors and nurse practitioners with valuable comparative drug information.
About Reformulary Group
Founded in 2011, Reformulary Group is an expert-led healthcare company focused on helping Canadians make smart drug and medical cannabis choices, and helping companies ensure plan sustainability. The company’s most notable innovation is its proprietary formulary – the Reformulary® – a subscription-based service offered to Canadian employers. The Reformulary is curated based on the expert advice of an independent panel of doctors and pharmacists. The company’s award-winning DrugFinder™ provides trusted information to empower patients to make smart drug choices. The company also developed Cannabis Standard, a digital platform that provides guidelines for medical cannabis use based on evidence and expert advice. Cannabis Standard enables smart medical cannabis choices by Canadians. For more information visit www.reformulary.com
DrugFinder is now available on the Apple App Store and Google Play Store. For more information and to use DrugFinder, visit: https://www.drugfinder.ca/ .