Price Transparency in Healthcare: Prior Authorization and Financial Transparency Survey

Financial transparency and prior authorizations are two of the biggest problems in U.S. healthcare. careviso conducted a survey to better understand the patient impact of prior authorizations and price transparency in healthcare. The results yielded staggering numbers.

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Challenge #1: Patient Education

This survey found that 70% of patients often or always encounter challenges with prior authorization, and 75% of patients experience confusion or miscommunication over prior authorizations at least sometimes.

Findings indicate that the prior authorization process can be difficult for patients to navigate. Additional tools may be required to help educate patients, create price transparency in healthcare, and remove roadblocks to successful prior auths.

READ MORE: Whitepaper on transparency tools in healthcare

Challenge #2: Patient Empowerment

70% of patients feel at least somewhat uncomfortable with their level of awareness regarding the coverage and cost for a medical procedure. Some patients may not be able to ask questions about their coverage, or might not know what questions to ask.

The survey seems to indicate that patients don’t feel confident in their knowledge when it comes to medical care coverage and associated costs. In addition to the educational requirements outlined above, empowerment is required to ensure patients can confidently make decisions for their own care.

READ MORE: Transparency and prior authorization efficiency

Challenge #3: Patient Care

A lack of education and empowerment round prior authorization seems to lead to negative healthcare experiences. In fact, 90% of patients reported that prior authorization issues negatively impacted their healthcare experiences in the past year to a degree.

80% of patients have also declined medical care due to confusion or concerns about pricing or insurance coverage. While pricing concerns are valid, we must ensure patients understand what medical procedures are covered so they can get the care they need.

Although U.S. healthcare consumers struggle with access issues and cost confusion, healthcare doesn’t have to be complicated. Our platform, seeQer, offers a clear view of a patient’s benefits, coverage, plan details, and administrative requirements, including prior authorization.

READ MORE: Healthcare technology company highlights need for price transparency

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