OUR COMPANY
OUR BUSINESS
Cubic Health was founded in 2003 by a team of practicing pharmacists and information technology (IT) professionals with the collective goal of assisting private and public drug plan sponsors ensure the sustainability of their drug plan benefit. Current cost drivers such as the increasing utilization of prescription medications and the introduction of newer, more costly medications are forcing plan sponsors to take a more active role in managing their drug benefit. Prescription drug spending has been the fastest growing sector of the healthcare industry in Canada over the past decade. It is estimated that Canadians spend over $21 billion annually on prescription medications, over half of which is paid for by the private sector. That represents an increase in spending of 160% over the past 10 years.
From groups that are limited in their ability to change any aspect of plan design due to contractual obligations, to groups concerned about the suitability of their current drug plan design moving forward, to groups burdened with significant financial pressure from age-related chronic conditions or claims for specialty drugs, we understand that every plan sponsor is different. One size does not fit all.
Through the integration of each plan sponsor's own blinded, non-personally identifiable drug claims data with our comprehensive Cubic Health Canadian Drug Database™ (CHCDD) and proprietary SFC Therapeutic Classification System™, we are able to use our innovative Analytics³CUBED™ Reporting Applications to provide our clients with a range of quantitative analyses unique to their experience. We diagnose utilization and cost pressures, measure and optimize current plan performance, model future spending and alternative plan designs, calculate the overall burden of illness, and measure the return on investment related to cost management and workplace wellness strategies. Armed with these quantitative measurement points, we are able to assist our clients implement the most appropriate solutions to meet their needs in both the short- and long-term.
Our systems have been architected to analyze tens of millions of claims at a time, allowing us the scalability to service small- to medium-sized plan sponsors, as well as very large groups. We have worked with Canadian employers with less than 50 plan members to those with tens of thousands of plan members.
