A new formulary that can help you manage drug costs
Manulife, in partnership with Shoppers Drug Mart, has introduced a new way to help manage traditional* drug costs: the HealthWATCH for Business® drug plan.
HealthWATCH for Business is a managed drug formulary focused on traditional drugs. It complements Manulife’s other drug programs designed to manage specialty drugs**: Prior Authorization, Specialty Drug Care, Exclusive Distribution and Manulife DrugWatch™.
Why a managed drug formulary?
Managed drug formularies*** encourage members to use lower cost drugs such as generics or less expensive drugs that have been proven to be equally safe and effective.
You can choose a managed formulary from Manulife that suits your benefit plan goals.
This managed formulary may lower your drug costs by 5-10%****
How HealthWATCH for Business works for your members
- They receive added support (e.g. formulary information) from Shoppers Drug Mart and Loblaw banner pharmacists – since their pharmacists are experts in the HealthWATCH for Business formulary.
- They can choose the pharmacy they want – members can shop at any pharmacy. They simply provide the HealthWATCH for Business toll-free number to their pharmacist to receive information about the formulary.
- They can switch to the lower cost drug without seeing their doctor. With the member’s permission, the pharmacist will contact the prescribing doctor to ask if a lower cost alternative drug on the formulary can be dispensed.
Find out more today
Contact your Manulife representative to learn more about the HealthWATCH for Business drug plan.
*Traditional drugs are those that are more commonly prescribed, e.g. antidepressants, cardiovascular drugs, antibiotics.
**Specialty drugs are those that are classified as high-cost or high complexity.
***Managed drug formularies consist of a plan with a limited list of eligible drugs. These plans are reviewed periodically and selective changes may occur.
**** Actual cost savings will depend on your company or organization’s existing drug plan.
The HealthWATCH for Business® drug plan designed and supported by Shoppers Drug Mart. Pharmacy services are not available at Shoppers Drug Mart/ Loblaw in Quebec at this time.
Manulife DrugWatch™ is offered through Manulife.
Loblaw banner pharmacies include: Loblaw, No Frills, Superstore, Zehrs, Fortinos, Valu-Mart and Wholesale Club.
For businesses with 100 employees or more.