Historically, patients have not had visibility into their medication prior authorization status, a process that impacts an estimated 406 million prescription each year.[ref] (https://www.iqvia.com/insights/the-iqvia-institute/reports/medicine-use-and-spending-in-the-us-a-review-of-2018-and-outlook-to-2023 "Medicine Use and Spending in the U.S., A Review of 2018 and Outlook to 2023, IQIVIA Institute, 2019")[ref] (https://massneuro.org/Resources/Transfer%20from%20old%20sit/AMA%20White%20Paper%20on%20Standardizing%20Prior%20Authorization.pdf "tandardization of prior authorization process for medical services white paper, American Medical Association, 2011") CoverMyMeds’ integration with MyChart enables patients to see if the prior authorization is in progress, if their medication is available for pickup or if the prior authorization is declined. In some instances, paying the cash price for a medication is more cost effective than using insurance and eliminates the need for prior authorization.
“With an uptick in Americans on high-deductible healthcare plans, out-of-pocket expenses continue to grow in importance,” said Miranda Gill MSN, RN, NEA-BC, Senior Director of Provider at CoverMyMeds. “In a recent patient survey, we found that 42 percent of patients with a high deductible have utilized online tools to identify where they can purchase the lowest out-of-pocket prescriptions or that offer medication discounts.[ref] (# "CoverMyMeds Patient Survey, 2018") However, price shopping can be confusing to navigate, as prescription medication costs can vary greatly between pharmacies. Our integration with MyChart will help eliminate the guesswork and empower patients to make more informed healthcare decisions.”
CoverMyMeds’ integration with MyChart was designed to complement RxBenefit Clarity™, a prescription decision support tool within the prescribing workflow that displays the lowest patient pay amount for prescriptions, including cash price, and enables providers to proactively initiate a prior authorization request if required.
For more information about CoverMyMeds’ integration with MyChart, visit the Epic App Orchard.
Those attending HIMSS20 March 9 – 13, 2020 can attend our presentation, Prescription Decision Support at the Point of Prescribing, on March 12 or visit CoverMyMeds at booth 3268 for additional information.
Epic, App Orchard, and MyChart are trademarks or registered trademarks of Epic Systems Corporation.