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Tag: automated prior authorization

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April 18, 2024

DrFirst Acquires Myndshft Technologies to Revolutionize Medication Management by Addressing Both Pharmacy and Medical Benefits

by Susan Lawson-Dawson | News

Pioneering Move Unites Medical and Pharmacy Benefits, Enhancing Access, Affordability, and Adherence for Specialty Medications and Procedures Rockville, Md. – April 18, 2024 – Healthcare technology pioneer DrFirst today announced it has acquired substantially all assets of Myndshft Technologies, Inc., a leader of end-to-end real-time medical benefits and automated prior authorization (PA) software-as-a-service (SaaS). This strategic acquisition aims to improve the patient experience and expedite access to vital specialty medications, such as infusions and in-office injectables primarily covered by medical benefits. Combined with DrFirst’s platform and scale, the technology will also lighten the substantial administrative load on healthcare providers and… Read entire article here

January 16, 2024

Generative AI for Healthcare: Helper or Hindrance in Automated Prior Authorizations?

by Susan Lawson-Dawson | Healthcare Technology, Prior Authorization

It only took ChatGPT five days to surpass 1 million users. Two months later, the generative AI application boasted an impressive 100 million active monthly users, and that figure keeps climbing. Is it any wonder that the healthcare industry has been buzzing about the potential of generative AI?  Where is the potential greatest?  An August 2023 AMA Survey found that physicians are most enthusiastic about leveraging AI tools to reduce administrative burdens, such as automating prior authorizations. That fits with expert assessments as well. Forbes reported last fall that, “According to a McKinsey analysis, AI-enabled prior authorizations can automate up… Read entire article here

November 28, 2023

Unlocking Revenue Potential: The Power of Automated Prior Authorization in Revenue Cycle Management

by Susan Lawson-Dawson | Healthcare Technology, Prior Authorization

The revenue cycle is the financial heartbeat of any healthcare organization. It encompasses both administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue. At the core of this complex cycle is prior authorization—traditionally a time-consuming and often frustrating process. Automated prior authorization technology represents an opportunity to unlock new revenue potential.  Keep reading to see how automation revolutionizes revenue cycle management (RCM) by streamlining prior authorizations and reducing preventable errors that lead to revenue cycle-busting delays and denials. The bottlenecks in traditional prior authorizations Traditionally, prior authorization has created RCM gridlock due to:… Read entire article here

October 9, 2023

Ensuring Reimbursement Success: 6 Prior Authorization Tips for Oncology Providers

by Susan Lawson-Dawson | Healthcare Technology, Prior Authorization

In the ever-evolving realm of healthcare, oncology stands out as a field that requires prompt, precise, and above all, compassionate care. Every procedure, medication, or therapeutic session can be pivotal in a patient's battle against cancer. And herein lies the challenge: How do you ensure that potentially life-altering treatments earn prompt approval, reducing gaps in patients’ care journeys and in your revenue cycle simultaneously?  Addressing process inefficiencies with prior authorization automation makes a huge difference. After all, prior authorization doesn’t just result in an approval or denial for patient care. It also confirms a payer’s commitment to reimburse you for… Read entire article here