CORAL SPRINGS, Fla., Feb. 9, 2012 /PRNewswire/ -- Point-of-Care Partners (POCP)--a national healthcare information technology and strategy consulting firm--has just released a new white paper on prior authorization for medications, which is a trend to watch in 2012. The white paper analyzes the PA landscape and discusses what payers, pharmaceutical benefit managers, pharmaceutical manufacturers and other stakeholders should be doing to get ready for more PA and a migration to electronic prior authorization (ePA), a standardized electronic process in which real-time decisions on PA requests are provided at the point of prescribing.
Use of prior authorization should significantly rise in 2012 and beyond due to cost containment pressures in the public and private sectors, along with the advent of accountable care organizations and other care delivery models that reward participating providers for saving money. Other key drivers, including advances in medication therapy management, biotechnology, designer drugs and specialty pharmacy, also will contribute to increased use of PA.
While PA may contain costs, the current process is typically time-consuming, expensive and frustrating for both providers and payers. The PA process stubbornly has remained mired in an antiquated, paper-based process—even though the healthcare world is rapidly going digital and more than half of eligible prescribers are doing so electronically. That is why the healthcare industry is seeking a better and digital solution through electronic prior authorization.
"Although ePA is still a few years away, pharmacy benefit managers and payers should be taking note of the trend toward PA for medications and setting adoption strategies in motion because of the savings and competitive advantage that can accrue," said Tony Schueth, POCP founder and managing partner.
He noted that efforts invested today can deliver immediate and substantial benefits for all stakeholders while providing a migration path to more integrated, automated and comprehensive solutions that takes greater advantage of evolving industry standards.
"The benefits to be gained through better member care and satisfaction, increased goodwill with providers and operational efficiency are combining to build a business case for ePA that dovetails with the industry's increasing willingness to adopt a better—and more electronic—solution," Mr. Schueth said.
Complete details are in Electronic Prior Authorization For Medications: The Time Is Right For Plans, PBMs And Other Payers, which can be downloaded without charge from the POCP website (http://pocp.com/blog/?p=489).
SOURCE Point-of-Care Partners