Proof of Usefulness Report

Reformulary Group

Analysis completed on 1/26/2026

+363
Proof of Usefulness Score
Certified Problem Solver

Reformulary Group is a verified, established Canadian healthcare technology company (founded 2011) with strong B2B traction. Key assets include the Reformulary® (expert-vetted drug list) and DrugFinder™ app. Search results confirm significant partnerships (Sun Life, The Co-operators), awards (CIX Top 20 2019, TELUS Outstanding Product 2018), and over 300,000 lives covered. While the user submission contained low-quality placeholder data (e.g., claiming reach is 'everyone'), the underlying business is robust, generating real-world utility through cost containment for employers and health literacy for employees. The score reflects a solid, revenue-generating SME comparable to the calibration reference.

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Score Breakdown

Real World Utility+116.88
Audience Reach Impact+50.00
Technical Innovation+45.00
Evidence Of Traction+100.00
Market Timing Relevance+40.00
Functional Completeness+3.75
Subtotal+355.63
Usefulness Multiplierx1.02
Final Score+363

Project Details

Project URL
reformulary.com
Description
In 2019, Reformulary Group was selected a CIX TOP 20 Early Innovative Canadian technology start-up, and in 2018, Reformulary Group won the TELUS Outstanding Product Achievement Award. Founded in 2011 by Helen Stevenson, CEO, Reformulary Group is an expert-led healthcare technology company focused on helping Canadians and companies make sense of medicine. The Company’s proprietary drug list, the Reformulary®, is a subscription-based product offered to Canadian employers, unions, and associations. The Reformulary provides Canadians with valuable comparative drug information, reviewed, and vetted by an independent committee of doctors and pharmacists from across Canada. Through the Company’s formulary business, they have amassed proprietary - and acquired - datasets that they are connecting in new, insightful, and revenue-generating ways. Data-as-a-Product solutions include rapid access data insights to help pharma make more informed decisions, and a predictive modelling tool that charts the pipeline of new high-cost drugs and predicts the impact on drug plans. Reformulary Group is a privately held high growth-stage company headquartered in downtown Toronto. For more information visit www.reformulary.com.

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline