Subject: NEW PRODUCTS/SERVICES
Groundbreaking prescription tool helps Canadians compare clinical and cost-effectiveness of drugs
TORONTO, ON--(Marketwired - November 08, 2017) - Today, Reformulary Group, Canada's leading, independent drug plan management company, launched DrugFindertm, a consumer app that allows Canadians to search prescription drugs and look up the drugs that provide the best combination of clinical and cost-effectiveness. DrugFinder enables users to make informed drug choices based on scientific evidence and independent medical advice -- thereby giving them greater control of their health.
"DrugFinder is taking consumer empowerment to the next level," said Helen Stevenson, Reformulary Group CEO. "Many Canadians are not aware they have a choice in the drugs they take -- some drugs cost more than others and yet are clinically similar. With DrugFinder, all Canadians now have a free, independent and credible source for prescription drug information and effective alternatives."
Addressing consumer needs
Drug spending has risen dramatically in recent years due to an aging population, a related rise in chronic conditions, and a flood of expensive new specialty drugs on the market. Yet, an estimated 15 to 20 per cent of Canadians do not have any prescription drug coverage, forcing them to pay out of pocket to cover drug costs.
Drug Plan sustainability
DrugFinder was first launched in 2012 as a digital tool for employees whose plans are powered by the Reformulary® to search drugs and look up preferred alternatives where appropriate. DrugFinder is currently available to about 130,000 employees across Canada. Plans that subscribe to the Reformulary have consistently achieved in-year savings and more sustainable drug spend.
How it works
DrugFinder is an online tool that searches the Reformulary®, a list of drugs reviewed and handpicked by clinical experts. Users can search by drug name or medical condition, find out how much of the cost is reimbursed, and look up if there is an alternative drug that works just as well. A new feature, users can now keep track of their medications in DrugFinder's virtual Medicine Cabinet, and sign up for alerts about alternative drugs available and new drugs on the market, as well as other health-related information.
DrugFinder Video https://www.youtube.com/watch?v=zIuNH6FC6Cw
"DrugFinder is a valuable tool for consumers because it helps filter out the noise and give a specific window into evidence-based reviews, cost-effective options and safety information," said Dr Paul Oh, Medical Director of the Cardiovascular Prevention and Rehabilitation Program and a Scientist at the Toronto Rehabilitation Institute.
Reformulary Expert Committee
Dr Oh is also Chair of the Reformulary Expert Committee -- a panel of medical experts on drug use and policy that reviews new and existing drugs and makes recommendations for placement on the Reformulary.
DrugFinder is a trusted, credible tool for all Canadians to help them make smart drug choices:
- Companies that subscribe to the Reformulary achieve significant savings and a more sustainable future
- People who pay out-of-pocket for drugs can make smart drug choices that consider cost
- Parents, caregivers, and seniors can keep track of the family's drugs with the virtual Medicine Cabinet
The DrugFinder app is available today, November 8, 2017, on the Apple App Store and Google Play Store. For more information and to use DrugFinder, visit: www.drugfinder.ca
About Reformulary Group
Reformulary Group is a specialized formulary management and health analytics company, founded in Toronto in 2011. The Company's most notable innovation is its proprietary formulary -- the Reformulary® -- which it sells on a subscription basis to Canadian employers. The Reformulary is curated based on the trusted advice of an independent panel of doctors and pharmacists. Reformulary Group CEO, Helen Stevenson started the company in 2011. The former Executive Officer, Ontario Public Drug Programs, and Assistant Deputy Minister of Health, Stevenson and her team saved Ontario taxpayers $1.5 billion. Plans powered by Reformulary® achieve significant savings and through the DrugFindertm app, help people make smart drug choices and take control of their health.
Embedded Video Available: https://www.youtube.com/watch?v=zIuNH6FC6Cw
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