CVS Health (CVS) on Thursday announced that it plans to make a large portion of its prior authorization procedures consistent with cross-payer clinical and technology standards. Therefore, the company said that patients, even if they switch their health plans, will continue to receive care without disruption.
The announcement came ahead of a Congressional hearing in which chief executives of leading managed care firms, including CVS Health (CVS) CEO David Joyner, are expected to testify before the House Energy & Commerce Committee's Health Subcommittee on Thursday.
CVS (CVS) said its Aetna insurance unit plans to ensure that 5-10 prior authorizations, which make up 40% of its volume, will be consistent with cross-payer clinical and technology standards by the end of 2026. The company added that it will expand this arrangement to 50 of the most common prior authorization procedures covered under Medicare.
As part of prior authorizations, also known as preauthorizations, healthcare providers are required to obtain coverage approvals from health plans before engaging in certain non-emergency medical procedures.
“We continue to decrease prior authorizations, reduce hospital readmissions and emergency room visits, and bring down the costs of prescription drugs,” Joyner remarked. "We are partnering with the Administration and Congress to deliver common-sense solutions that make health care more affordable and improve outcomes for the people we serve,” he added.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.