SOURCE: CoverMyMeds

CoverMyMeds

March 03, 2015 13:00 ET

Electronic Prior Authorization (ePA) National Adoption Scorecard Highlights Industry-Wide Progress and Challenges

Inaugural Scorecard to Be Published Regularly by CoverMyMeds and Prominent Industry Stakeholders

COLUMBUS, OH--(Marketwired - Mar 3, 2015) - CoverMyMeds, working with a broad group of influential industry stakeholders, today released the Electronic Prior Authorization (ePA) National Adoption Scorecard. The ePA National Adoption Scorecard is the first of its kind and highlights the current state of the ePA industry, including ePA adoption rates and implementation statuses of the industry's largest participants.

The ePA National Adoption Scorecard was published with an advisory group comprised of leaders from the National Council for Prescription Drug Programs (NCPDP), the National Community Pharmacists Association (NCPA), the National Alliance of State Pharmacy Associations (NASPA) and the Pharmacy Quality Alliance (PQA), among other industry constituents.

"We felt an ePA National Adoption Scorecard was important given the high stakes of ePA adoption for the health care industry," said Perry Lewis, VP of Industry Relations at CoverMyMeds. "There's a lot of news about ePA, but until now, no one had their arms around the big picture. This report reveals the progress we're making as an industry, but also highlights gaps in availability and functionality that must be corrected in order to fix the problem of prior authorization."

Electronic prior authorization transforms the traditional, paper-based PA workflow into an electronic process that minimizes prescription abandonment and administrative waste. Implemented properly, the ePA process provides real-time decision support for electronic prescribing.

The ePA National Adoption Scorecard highlights the following data:

  • Annually, more than 150 million prescriptions require a PA. Nearly 40% of those are abandoned due to complex policies and procedures.
  • 54% of EHR and E-Prescribing vendors representing the majority of the market share are committed to implementing ePA. Only 22% are live with a solution.
  • 67% of payers representing the majority of the prescription benefits market share are committed to implementing ePA and 60% have live solutions.
  • Of pharmacies representing the majority of market share, 70% are committed to ePA and 67% have a live solution making pharmacies the fastest adopters of ePA.

With the help of ePA software providers, such as CoverMyMeds, electronic health records (EHR) systems, health plans and pharmacies are integrating ePA technology into existing workflows.

"We're all in this together. The more EHRs, payers and pharmacy systems that implement ePA, the better off we are as an industry," said Matt Scantland, Co-Founder of CoverMyMeds. "We hear from patients every day who are lost somewhere in the PA process, and everyone agrees ePA is an important step to fixing that problem."

The ePA National Adoption Scorecard is accessible online and available for download at epascorecard.covermymeds.com. It will be updated throughout the year. CoverMyMeds invites industry participants to share data that will enhance the report by contacting the CoverMyMeds research team at epascorecard@covermymeds.com.

About CoverMyMeds
CoverMyMeds is the leader in Electronic Prior Authorization (ePA) and one of the fastest growing healthcare technology companies in the US. We help physicians, pharmacists and their staff complete ePA requests for any drug and all health insurance plans. Our technology integrates with pharmacy systems, EHRs and PBMs to create the most efficient electronic prior authorization (ePA) strategy for all participants. With more than a million PAs submitted each month, CoverMyMeds is the only vendor using the ePa NCPDP SCRIPT Standard at scale. For more information, visit www.covermymeds.com.

Contact Information

  • Media Contacts
    Chrissy Hand
    Sr. Marketing Strategist
    CoverMyMeds
    Email Contact
    614-300-1588

    Amelia Vereb
    Vice President
    SweeneyVesty
    Email Contact
    614-324-3426