Prescription drug costs continue to rise, becoming one of the largest drivers of benefit plan costs. In fact, according to Willis Towers Watson, 53% of employers are adding adding restrictions such as prior authorization for specialty drugs in an attempt to control costs.
As new name-brand drugs continue to emerge on the market, growing costs of prescription medication is likely to continue. However, through the use of online pre-authorization tools, your company will have the ability to slow this trend, enabling you to better control and better manage your health benefit costs. Here’s a look at how the HPS online pre-authorization tool works and how it can empower you to better control RX drug costs.
Pharmacy pre-authorization requests can be submitted by a pharmacist or physician online on behalf of their patient using a quick online form. These requests and any included documents are recorded and prepared for your team’s review.
Pre-Auth File Imports and Review
The HPS web portal sends new pre-auth requests directly into your authorization management system, enabling your team to quickly review and respond to each request. By using this automated process, your staff will spend less time keying in these requests and more time reviewing and responding to them.
Efficient Sharing of Pre-Auth Status and Next Steps
The web portal receives regular data updates from your authorization management system, enabling all parties of interest to stay up-to-speed with their healthcare details, especially as it relates to their prescription authorizations. If the RX pre-authorization is approved, denied, or authorizes only generic brand drugs, the pharmacist, physician, and patient will find out through the web portal without having to call in and inquire.
The HPS Online Pre-Authorization tool provides your company an extra layer of due diligence in evaluating spending on prescription drugs. This enables your company to make better decisions as it relates to controlling and managing prescription costs. However, this tool also delivers other cost savings in the form of streamlining your pre-auth request process and communicating updates to patients and providers more efficiently.
To learn more about how you can take advantage of the cost savings from the HPS Pre-Authorization tool, schedule a demo.