Express Scripts Canada (ESC) believes its renewed partnership with iA Financial Group will help address the rising cost and complexity of health insurance for members.
The two companies last week announced they had agreed to continue their 16-year relationship regarding prescription drug claim management services.
ESC is a leading health benefit manager and its clients include the country’s top insurers, third-part administrators and government, working with them to develop industry-leading.
It provides active pharmacy services to more than 7 million Canadian patients and adjudicates more than 100 million pharmacy, dental and extended health claims.
A spokesperson from Express Scripts Canada told LHP that the new deal was vital to being able to continue offering group insurance clients a drug management program that is efficient and innovative.
“ESC is able to build on our 16-year relationship of being a strong strategic partner to iA and continue to support iA's strategy by leveraging ESC's understanding of iA and industry leading strategy and innovations.
“We share similar corporate values and are both concerned with providing effective drug management to plan sponsors and plan members. We have a shared interest in promoting better health decisions for plan members, while managing and reducing drug benefit costs for plan sponsors.”
ESC believes the future is bright and that both firms remain committed to innovation. It expects new services to be delivered in due course.
“The provision of affordable benefit plans is one of the biggest challenges facing the health insurance industry today,” the spokesperson said. “Affordable benefit plans are essential to attracting and keeping top employees, but currently pose challenges for companies as costs continue to rise and health claims and prescription drug requirements become more complex.
“ESC will partner with iA to develop innovative solutions that will offer iA's members the best possible health outcomes while providing their clients with lower costs.”
iA Financial Group is a significant player in the Canadian group benefits space and the contract ensures the continuation of a relationship that started in 2003.
In a release, Dorian Lo, president, Express Scripts Canada, said: “ESC appreciates the level of trust iA Financial Group continues to have in our organization. This relationship is well into its second decade and it is heartening to see iA Financial Group's commitment to leveraging our innovative solutions to deliver value to their plan sponsors and plan members."