Drug Coverage: Control Costs With Managed Rx™

The Prescription Drug Challenge

Prescription drugs typically account for 70% of extended health costs. A new approach is needed to to help organizations of all sizes realize significant cost savings in their benefits plans – without cutting coverage.

The Managed Rx Difference

Managed Rx™ focuses on reducing two of the key cost drivers for prescription drug coverage: the drug costs themselves, and the dispensing costs.

Tackling drug costs with a tiered drug formulary

Generic drugs can cost significantly less than their brand-name equivalents. By introducing a list of approved drugs (this is called a “tiered formulary”) that encourages employees to choose generic drugs and lower cost therapeutic alternatives over brand name drugs, plans can realize significant savings. These alternatives are tested and approved to the same exacting Health Canada standards as their more expensive branded versions.

Putting it all together with Managed Rx

Managed Rx focuses on employee education to change behaviour – and lower costs. By making your employees active participants in how they access prescription drugs, Managed Rx™ encourages employees to purchase less costly, but equally-effective drugs.

How Managed Rx works

The employee tells their doctor that, for full coverage, they must be prescribed a generic equivalent or therapeutic alternative drug.
The employee submits the prescription through sparrow, GroupHEALTH’s health and wellness app. Full coverage applies only when prescriptions are ordered through sparrow’s pharmacy.
sparrow’s pharmacy partner, GreenShield Pharmacy, fills the prescription and delivers it directly to the employee’s home or workplace – saving time, reducing costs, and providing dependable service that puts employee health first.