The Patented Medicine Prices Review Board has published its latest report, Private Drug Plans in Canada: Expenditure Report, 2018-2023. This report provides insight into the factors driving growth in prescription drug costs for private drug plans in 2023, as well as a retrospective review of trends in private drug plan costs and utilization since 2018.
As key stakeholders in the healthcare system, private drug plans play an important role in drug reimbursement in Canada and drug plan costs are a major concern for plan sponsors. Private insurance accounts for an estimated 38% of prescribed drug spending, or $15.8 billion.
The report provides policy makers and researchers with information on the sources of cost pressures and the cost-saving opportunities for Canadian private drug plans.
