AP NEWS

Teladoc Health Launches Solution to Address Rising Prescription Drug Costs in Canada

November 26, 2018

TORONTO, Nov. 26, 2018 (GLOBE NEWSWIRE) -- Teladoc Health (NYSE: TDOC), the global leader in virtual care, announced today the launch of Best Doctors Specialty Pharmacy Services, the first virtual care solution designed to tackle rising prescription drug costs using advanced analytics and an expert medical opinion. This unique analytics-driven virtual care solution helps employers and plan sponsors identify members with complex conditions such as Crohn’s disease, psoriasis, lupus, or rheumatoid arthritis, and then engages an expert clinical team to carefully review the diagnosis and treatment plan to ensure the right course of action for each patient.

The Great-West Life Assurance Company, a leading insurer focused on improving the financial, physical and mental well-being of Canadians, is first to provide the service under the Script brand name.

“We already know that Best Doctors services have life changing results for our plan members – over half that access Best Doctors end up seeing a change in diagnosis or treatment,” said Brad Fedorchuk, Senior Vice-President, Group Customer Experience & Marketing, Great-West Life. “What makes this program so exciting is that we can now leverage the power of our claims data and data analytics to proactively bring these life changing services to our members that need them most, and at the same time, help our plan sponsors lower the cost of their benefit programs.”

Specialty pharmaceuticals continue to be the number one cost driver in healthcare, with total spending for the top 1% of claimants being equal to that of the bottom 85% of claimants.i With this new service, employers and insurers have a valuable way to engage members at the top of the medical cost pyramid to evaluate and potentially recommend adjustments to their treatment plans, to ensure the best possible outcomes.

How It Works The service is initiated through a data-driven process that proactively and anonymously identifies those within a population who are most likely to benefit from an expert review of their diagnoses, treatment plans, and prescriptions. Best Doctors clinical experts can view an entire population, evaluate a high-risk group, or even identify an individual who would benefit from an in-depth case review.

Once a patient is identified and agrees to participate, a team of clinical experts works with case managers and the patient to assess his or her unique case and either validate or recommend adjustments to the treatment plan.

“So many people find themselves taking a medication for an extended period of time with limited or no benefit, and without the opportunity to fully understand why or learn of alternatives,” said Lewis Levy, MD, chief medical officer, Teladoc Health. “With this solution, we are providing a unique opportunity to disrupt this cycle to deliver better value and improved health outcomes.” Best Doctors Specialty Pharmacy Services is now available in Canada. For more information, visit BestDoctors.com/Canada.

About The Great-West Life Assurance Company Great-West Life is a leading Canadian insurer, focused on improving the financial, physical and mental well-being of Canadians. For more than 125 years, our customers across Canada have trusted us to provide for their financial security needs and deliver on the promises we have made. Together with our subsidiaries London Life and Canada Life, we serve the financial security needs of 13 million people across Canada. To learn more, visit Greatwestlife.com.

About Teladoc HealthBest Doctors is now part of Teladoc Health, Inc., the global leader in virtual care, successfully transforming how people access and experience healthcare. The company’s award-winning, integrated clinical solutions are inclusive of telehealth, expert medical, AI and analytics, and licensed platform services. With more than 2,000 employees, the organization delivers care in 125 countries and in more than 20 languages, partnering with employers, hospitals and health systems, and insurers to transform care delivery. For more information, please visit www.BestDoctors.com/Canada or www.teladochealth.com, or follow @TeladocHealth on Twitter.

Media Contacts:Justin Joseph Director, Public Relations Teladoc Health 617-359-5522 jjoseph@teladochealth.com Liz Kulyk Director, Media & Public Affairs The Great-West Life Assurance Company 204-926-5012 lizkulyk@gwl.ca

i http://www.benefitscanada.com/benefits/health-benefits/prescription-drug-spending-jumps-12-67064

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/897fa619-3351-400e-9144-fae8583903c0

AP RADIO
Update hourly