New HBM+ report shares key insights on rapidly evolving drug landscape

TORONTO, Oct. 13, 2021 (GLOBE NEWSWIRE) — With the COVID-19 pandemic fundamentally changing health care delivery across the country, a new-look drug landscape is rapidly taking shape, sparked by the latest drug claim trends, the emergence of digital pharmacies, and a growing pipeline of ground-breaking therapies.

To make sense of the innovative approaches and extensive data, health benefits manager HBM+ is today releasing its second annual Drug Trends and Strategic Insights report, which presents drug claims and utilization data for HBM+ partner insurers and third party administers (TPAs), representing over two million claimants and almost $2 billion in annual adjudicated drug costs.

The report puts a spotlight on key trends tied to specialty drugs (particularly biologics and biosimilars) and the impact of new, costlier chronic disease therapies – all while presenting valuable cost management and health improvement solutions for plan sponsors and advisors. Equally, the report examines the impact of more and more Canadians turning to digital pharmacy options to obtain their medications due to lockdowns and distancing requirements.

Looking further ahead, the focus shifts to the pipeline of new drug therapies likely to have a significant effect on benefit plans this year and beyond, from gene therapies to a new treatment for Alzheimer’s disease to the ever-growing need for accessible mental health solutions.

“Our report provides an opportunity to step back and assess the challenges, trends, and realities resulting from the pandemic,” explains Charles Rosen, Managing Director at HBM+. “Building on these insights, HBM+ remains focused on serving our partners and their plan members in achieving sustainable health care solutions now and into the future.”

Click here to access the report.

For more information:

HBM+ Media Department
media@hbmplus.ca

About HBM+

HBM+ is more than a pharmacy benefits manager, it is a health benefits manager. With offices in Quebec and Ontario, HBM+ provides customized white-label solutions that support drug, dental and extended health benefits for group benefits carriers, third-party payors, and government organizations across Canada. HBM+ is built on a foundation of proven technology, seamless branding, innovative claim management and administration capabilities, collaborative provider management, and solid industry expertise. They recognize that each client is unique and requires a business solution tailored to their needs. hbmplus.ca