January 20, 2014 -
Equitable Life of Canada announced today it is implementing the Equitable Life Specialty Drug Management Program (SDMP) as an integral part of its drug plan management strategy.
"This Program is our approach to providing responsible access to specialty drugs and ensuring drug plan sustainability," says Martin Chung, Assistant Vice-President, Strategic Health Management at Equitable Life.
The goals of the Program are to ensure:
- Appropriate use of specialty drugs;
- Integration with other reimbursement avenues;
- Plan Member out of pocket expenses are minimized; and
- Drug plan sustainability is supported.
Equitable Life is introducing this Program for all Pay-Direct Drug and Reimbursement Plans. It will apply to select high-cost specialty drugs used for a variety of medical conditions, such as multiple sclerosis, inflammatory diseases, rare diseases and cancer. According to Equitable Life's Data Records, the probability of a specialty drug claim per 1,000 certificates has increased more than 100% since 2008.
"While specialty drugs will continue to represent a significant inflationary pressure point for employers, Equitable Life also recognizes the need for a thoughtful approach to support the appropriate use of medications," adds Chung. "This approach underpins the goals of this Program."
Patient Assist Process - High touch, secure and efficient
To support Plan Members who require specialty medications, Equitable Life has designed a program to help them work through the eligibility requirements and processes.
"The program has been created with a focus on providing decisions as quickly as possible so Plan Members can receive the medications they need to treat these serious health conditions," says Norma Crouse, Assistant Vice President, Group Claims and Administration.
Equitable Life's Customer Service Team will walk affected Plan Members through the Program in order to ensure efficient and evidence-based navigation of their eligibility and their reimbursement options.
About Equitable Life of Canada
Canadians have turned to Equitable Life since 1920 to protect what matters most. We work with independent advisors across Canada to offer individual insurance, savings and retirement and group benefits solutions to meet your needs.
But we're not your typical financial services company. We have the knowledge, experience and ability to find solutions that work for you. We're friendly, caring and interested in helping. And we're owned by our participating policyholders, not shareholders. So we can focus on your interests and providing you with personalized service, security and wellbeing.
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