If you’ve been a recurring patient at hospitals or someone who works for a healthcare provider, chances are you’re familiar with the term ‘prior authorization’ (PA). Prior authorizations are just the process of asking a health insurance payer for consent to perform a specific healthcare service so that the provider may bill the insurance company. Unfortunately, these prior authorizations can usually be a very time-consuming process.
The Rise of Prior Authorization Systems
For every PA request, it’s estimated that $11 and 20 minutes are wasted by healthcare providers. For this reason, 93% of physicians say that prior authorizations cause a high administrative burden and 35% of physicians hire staff only for prior authorization requests. Moreover, when these PA requests are denied, the entire process must be restarted and nearly half of healthcare providers don’t have the time to appeal these decisions.
Fortunately, modern technology has created a solution to solve both time and effort when completing prior authorization requests. With AI-powered automated prior authorization workflows, getting medical documents, filling out the PA request, and monitoring case status is entirely automated. Even if you’re unsure about how easy it could be, the benefits speak for themselves.
Conclusion
Prior authorization process automation systems like Orbit AI have shown to slash existing costs by up to 60%, and around $449M industry wide. This is due to the reduced cost for each prior authorization, which is around $9.60 cheaper compared to manual methods. Not only is it cheaper, but it’s also faster as AI only takes around 5 minutes to perform the entire prior authorization process.
Most importantly, the less effort expended on prior authorizations means the more can be spent on patient experience. Healthcare providers that utilize automated prior authorization systems see improved patient experience in the overall time it takes to render care for the patient. Regardless of who your healthcare business serves, Orbit AI can make it easier for you to take care of your patients.
Source: Orbit Healthcare
