hr-education-day-making-decisions-in-a-digital-world

Dan Lawrie Insurance recently hosted our third annual HR Resources Educational day for our Benefits Clients at the Burlington Golf and Country Club. The agenda addressed many issues that are important to companies providing employee benefits, these are 3 presentations I would like to share with you.

Future of Drug Management: Genetics, Reformulary and Mutual Concepts 

By Helen Stevenson Founder & CEO

Medications on a formulary are chosen by a panel of experts independent of your insurance company, known as a pharmacy and therapeutics committee. These panels include doctors, nurses, pharmacists and other clinical experts.

The committee develops, manages and updates the formulary it works on. The group meets regularly to discuss new drugs, safety data and to approve the prescribing information. Clinical trial results and doctors’ recommendations are included to keep the formulary up to date. As a result, medications on the formulary may change at any time.

The committee typically leaves cost decisions up to the insurer or pharmacy benefits manager, which is a third-party company that operates the formulary. When two or more drugs are equally effective and safe, and similarly priced, both may be included in the formulary, though other factors may come into play. Drug Formulary can reduce the cost of providing prescription drugs to your employees.

What is RxReport™?

By The Beneplan Cooperative Zahra Sakkejha; Director of Marketing; Personalized Prescribing Inc.

RxReport™ is a genetically-driven drug compatibility report, exclusively available to Canadians. It uses pharmacogenetic testing and the latest scientific evidence to identify which medications would work well for you, and which medications are likely to be ineffective or cause serious side-effects.

This testing can be purchased on an individual basis and it can be added to a group benefits program as part of the benefits program.

Cyber Security

By Matthew Davies; Assistant Vice President & Professional, Media and Cyber Liability Product Manager; Chubb Financial Lines.

What would be the cost if one of your employees lost a company laptop? The average value of a lost laptop is $49,246.00 based on 7 cost factors:

  • Replacement: hardware, software & allocated corporate overhead
  • Detection & Escalation: employee time spent trying to recover the laptop and reporting the incident
  • Forensics & Investigation: Hours of IT employee time to do analysis of what data has been exposed
  • Data Breach: per Record to notify
  • Lost IP: Unencrypted data and estimate of its value to a competitor
  • Lost Productivity: downtime for the employee
  • Legal, Regulatory and Consulting Costs

What protocol do you have in place to deal with this event if a laptop is lost or stolen?