The app helps users compare medicines based on cost-effectiveness and clinical efficacy
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Reformulary Group, the leading independent drug-plan management company in Canada, has made its drug-comparison tool DrugFinder available to Canadian consumers.
The app was originally launched for members of employee plans subscribed to the Reformulary, a proprietary list of drugs reviewed and handpicked by clinical experts. Plans subscribed to the Reformulary have experienced consistent in-year savings and sustainable drug spend, according to the company.
“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,” said Reformulary Group CEO Helen Stevenson. “With DrugFinder, all Canadians now have a free, independent and credible source for prescription drug information and effective alternatives.”
As the Canadian population continues to age, drug spending has surged. According to a recent report from the Canadian Institute of Health Information (CIHI), health spending is expected to reach $6,604 per capita by the end of the year, with drugs representing 16.4% of health budgets. However, 15% to 20% of Canadians are reported to have no prescription-drug coverage.
With the DrugFinder app, consumers can search the Reformulary for specific medicines. They can search by drug name or medical condition, determine how much of the cost of the drug is reimbursed, and find out if there are equally effective alternatives.
“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 scientist at the Toronto Rehabilitation Institute. He is also chair of the Reformulary Expert Committee, which reviews new and existing drugs to select candidates for placement in the formulary.
Available for Apple and Android devices, the app also features a virtual medicine cabinet to let users keep track of their medications. Users can sign up for alerts on alternative drugs and new drugs on the market, as well as other health-related information.
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The app was originally launched for members of employee plans subscribed to the Reformulary, a proprietary list of drugs reviewed and handpicked by clinical experts. Plans subscribed to the Reformulary have experienced consistent in-year savings and sustainable drug spend, according to the company.
“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,” said Reformulary Group CEO Helen Stevenson. “With DrugFinder, all Canadians now have a free, independent and credible source for prescription drug information and effective alternatives.”
As the Canadian population continues to age, drug spending has surged. According to a recent report from the Canadian Institute of Health Information (CIHI), health spending is expected to reach $6,604 per capita by the end of the year, with drugs representing 16.4% of health budgets. However, 15% to 20% of Canadians are reported to have no prescription-drug coverage.
With the DrugFinder app, consumers can search the Reformulary for specific medicines. They can search by drug name or medical condition, determine how much of the cost of the drug is reimbursed, and find out if there are equally effective alternatives.
“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 scientist at the Toronto Rehabilitation Institute. He is also chair of the Reformulary Expert Committee, which reviews new and existing drugs to select candidates for placement in the formulary.
Available for Apple and Android devices, the app also features a virtual medicine cabinet to let users keep track of their medications. Users can sign up for alerts on alternative drugs and new drugs on the market, as well as other health-related information.
Related stories:
Public-research policy urged as solution to high patented-drug prices
Overlap in drugs covered by public drug plans 'significant': PMPRB
