Democratizing Healthcare: Collaboration Automates Prior Authorization & Patient Financial Assistance to Boost Health Equity
As the boundaries of medical science expand, pharmaceutical companies increasingly sophisticated—and costly—medications and treatments. While these advancements are a boon to healthcare, they also present some challenges. They typically require prior authorization, which as we all know is a time-consuming undertaking unless you use prior authorization software to automate the process.
Even with prior auth approval in hand, many patients find it difficult to afford the medications. Philanthropic aid for medications serves as a vital lifeline for vulnerable populations, particularly when it comes to accessing innovative new treatments, such as those in the field of oncology. Now, Myndshft and Atlas Health have teamed up to overcome the hurdles and enable a streamlined process, leveling the playing field for patients from all walks of life.
Cutting-edge treatments, sky-high costs
New medications often come with expensive price tags. These costs can make even the most groundbreaking treatments inaccessible to those who need them most. However, pharmaceutical companies often allocate funds specifically for patient assistance programs. Finding those programs, however, takes some effort.
Some are quite obvious. Take TV ads for medications. FiercePharma recently reported that “Pharma brands dominated the top 10 new brands with the highest ad impressions for TV airtime. In fact, pharma brands occupied five out of those spots including the top three positions.” And the majority of those ads include a statement saying, “If you cannot afford your medication, we may be able to help.”
But let’s face it. Even if you aren’t multitasking during the commercial break, a 10 second voice-over blurb and tiny type on the screen isn’t exactly an attention-grabber. And while it may raise awareness, rarely do these ads provide details on how to actually access these resources.
Plus, there are tens of thousands of sources of aid, depending on a wide range of criteria, so finding the right option for an individual patient can be an uphill climb.
Identifying the best resources, faster
That’s where Atlas Health comes in. Atlas automates matching to patient assistance and social support programs, enabling easy enrollment for patients and streamlining providers back-office activities. The challenge: Patient financial assistance for pharmaceuticals often depends on obtaining prior authorization first.
In other words, before qualifying for any financial help, the prescribed medication—whether under medical or pharmacy benefit—needs an approved prior authorization from the patient’s insurance plan. And therein lies the catalyst for the Myndshft + Atlas Health partnership.
The Myndshft automated prior authorization platform integrates into any system of record, enabling a streamlined workflow that cuts transaction time by 90%. By reducing manual effort by 70%, Myndshft enables faster processing of prior authorizations—and not just on the provider side. Because prior authorization submissions have been pre-checked for errors or missing information, payers receive a comprehensive, yet succinct, request, enabling faster decisions.
And once the approval is in place, matching the patient to appropriate assistance is an easy next step on the path to greater health equity. Individuals who might otherwise be unable to afford cutting-edge cancer treatments, for example, can receive the medications they need.
By breaking down financial barriers, philanthropic initiatives help level the healthcare playing field, ensuring that life-saving treatments are within reach for underserved communities. It’s a win-win: Patients get the critical care they need, and the broader medical community gains invaluable insights that only a diverse patient population can provide.
Working together for a smoother path to health equity
As the healthcare landscape evolves, we must actively integrate technological solutions to address systemic barriers like lack of access to financial resources and cumbersome prior authorization procedures. AI and automation offer a promising path toward achieving this goal, empowering patients and providers alike to navigate the financial complexities of modern healthcare more efficiently.
Together, automated prior authorization and patient financial assistance bring us closer to a future where quality healthcare is not just a privilege for those who can afford it, but a right for all.Read the press release for more details on this exciting collaboration!
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