Reformulary Group

Reformulary Group operates as a healthcare technology and services company in Canada, focused on making prescription drug plans more affordable and sustainable for both employers and their members. The company was incorporated in March 2011 by Helen Stevenson, who currently serves as President & CEO. Stevenson's background includes serving as the Assistant Deputy Minister of Health and Executive Officer of Ontario Public Drug Programs, where she led significant reforms that resulted in $1.5 billion in savings for taxpayers. This experience in the public sector, managing Ontario's $4 billion drug program, provided her with the insight to address rising drug costs in the private sector.

The core of Reformulary Group's business is its proprietary drug list, the Reformulary®, which is offered on a subscription basis to Canadian employers, unions, and associations. Revenue is generated by selling access to this formulary and its associated services. The Reformulary is an evidence-based drug list curated by an independent expert committee of 14 physicians and clinical pharmacists. This committee reviews prescription drugs based on their clinical effectiveness, safety, and cost to categorize them as 'preferred' or 'non-preferred'. This tiered system helps guide plan members and their doctors toward the most cost-effective treatment options without compromising health outcomes.

The company serves a diverse client base, from small businesses to many of Canada's Top 100 Employers, and partners with major insurance companies like Sun Life and The Co-operators. Its product suite is designed to engage employees and manage costs proactively. The flagship product is the award-winning DrugFinder™, a digital tool and app that allows plan members to search the Reformulary, compare drug costs, and find clinically recommended alternatives. Other services include 'myRequest', an independent review service for special authorization drug requests, and 'RePort', a business intelligence tool providing insights on prescription claims data. The company pioneered the use of product listing agreements (PLAs) in the private sector to negotiate lower drug prices directly with pharmaceutical companies. This approach, combined with its data-driven tools, has demonstrated significant savings for clients, with some achieving a drug spend decrease of over 11% in the first year. Keywords: prescription drug plans, drug formulary management, healthcare cost containment, employee benefits Canada, pharmaceutical data analytics, Helen Stevenson, evidence-based medicine, drug plan sustainability, corporate health plans, digital health tools, DrugFinder, pharmacy benefit management, health technology, insurance partnerships, prescription cost savings, medication management, clinical drug reviews, Canadian healthcare, benefits plan advisory, special authorization drugs