No industry escapes administrative spending, but the healthcare industry encounters more than its fair share. Writing in Forbes, Bipartisan Policy Center Senior Fellow and Former Senate Majority Leader Bill Frist notes, “Estimates attribute 15 – 30 percent of total national health spending to administration, with at least half of that spending demonstrated to be ineffective or wasteful. That means as much as $300 - $600 billion is wasted each year.” Tackling inefficiencies in your processes—like over-processing prior authorization submissions—can certainly cut down on waste. That’s where prior authorization software can help. But first, let’s look at why it happens. A… Read entire article here
Between 2000 and 2018, the use of biomarkers in oncology clinical trials grew from 15% to 55%, for good reason. The use of biomarkers in cancer care enables personalized treatment options, revolutionizing the way oncologists diagnose and treat cancer patients. Biomarkers can help identify the most effective therapies for individual patients. Despite the proven benefits of biomarker testing, however, many cancer patients still face barriers to accessing this essential tool due to prior authorization. By automating the prior authorization process, oncologists can expedite personalized cancer care, increasing the chances of successful outcomes and reducing unnecessary treatments. Prior authorization creates roadblocks… Read entire article here
Recently, Jay Bhatt, the director of Deloitte’s Health Equity Institute, told Chief Healthcare Executive,“For the first time that I can remember in my lifetime, I can see greater alignment of stakeholders around health equity than I’ve ever seen before.” While payers, providers and government agencies seem to be on the same page, the fact remains that achieving health equity demands significant change. Prior authorization, a process in which healthcare providers must obtain approval from payers before delivering certain treatments or services, can sometimes act as a barrier to achieving health equity. So let’s take a closer look at why health… Read entire article here
The Ambulatory Surgical Centers (ASC) market has been witnessing steady growth in recent years. Back in 2010, 48% of outpatient surgical procedures took place in ASCs. By 2019, that figure rose to 60%. Then the pandemic hit, further accelerating growth of ASCs. More traffic, however, likely means more prior authorizations so ASCs need to consider how to efficiently manage growing administrative demands that will otherwise shrink their margins further. That’s where prior authorization software can help. Before diving into the benefits of prior authorization for ASCs, let’s take a closer look at the trends behind the expanding popularity of ASCs. … Read entire article here
