Per full-time physician, prior authorization-related activities cost around $3,500 a year, without even taking into account lost productivity or operational efficiency. Prior authorization is costly and time-consuming. In addition, the patient cannot receive treatment or medication until the process is completed.
Fortunately, the healthcare industry can collectively remove this burden because of current electronic prior authorization (ePA) technology. ePA allows for a response on prescriptions in minutes. Physicians and their staff can request approval from health plans and pharmacy benefit managers the moment they prescribe. By implementing an ePA system from 1st Providers Choice into their practice, healthcare leaders will see numerous, ongoing benefits.