(PRWEB) March 15, 2016
CoverMyMeds, the nation’s largest electronic prior authorization (ePA) platform, announced today that they have been selected as the electronic prior authorization partner by EnvisionRx, the national pharmacy benefit management (PBM) division of EnvisionRxOptions. As the coordinator of prescription coverage for more than 23 million people nationwide, Envision understands the value of a simple, automated prior authorization process that helps ensure individuals and families get access to the right medicines, at the right time.
EnvisionRx joins the eighty-seven percent of payers who are committed to ePA, according to the ePA National Adoption Scorecard. As a result of the partnership, the prior authorization (PA) submission, review and notification process will occur electronically, eliminating the use of paper forms, phone calls and faxes between prescribers and EnvisionRx.
Prior authorization is the process of requiring pre-approval for select prescribed medications. According to data in the ePA National Adoption Scorecard, the PA process costs prescribers and their staff more than 20 hours each week. Nationwide, physicians spend $37 billion annually interacting with health plans, in part as a result of prior authorization requests. The ePA process significantly decreases time required to submit a PA request and receive a determination.
“We are excited to integrate the CoverMyMeds ePA solution into the suite of clinical services and operations that we are bringing to our EnvisionRx plan sponsor clients and the millions of members supported by our PBM line of business,” said Carl Bertram, vice president of clinical operations. “ePA is a best practice embraced by EnvisionCare, our clinical and member engagement center of excellence. CoverMyMeds will help us facilitate faster, more reliable, safer and affordable use of medications by removing manual steps that are prone to human error, delays and miscommunication.”
Envision’s new ePA platform provides prescribers – at no cost – with electronic access to prior authorization requests for nearly all medications through covermymeds.com. By mid-2016, the full ePA solution will be live and integrated with more than 500 electronic health records (EHR) systems.
EnvisionRxOptions is a health care company with a visibly different approach to managing pharmacy benefits. As a full service provider, Envision leverages its core PBM services; Mail, Specialty and Compounding Pharmacies; Part D Medicare insurance plans; and cash savings programs to help plan sponsors of all sizes provide more affordable and effective drug coverage for their members. Headquartered in Twinsburg, Ohio, Envision has projected 2016 revenues of over $6 billion and has been awarded the Utilization Review Accreditation Commission (URAC) accreditations for PBM and Drug Therapy Management annually since 2007. EnvisionRxOptions is a wholly owned subsidiary of Rite Aid. For more information visit http://www.envisionrx.com.
CoverMyMeds is the leader in Electronic Prior Authorization (ePA) and one of the fastest growing health care technology companies in the U.S. We help physicians, pharmacists and their staff complete ePA requests for any drug and all health insurance plans. Our technology integrates with nearly 47,000 pharmacies, more than 500 EHR systems and payers representing nearly 75% of U.S. prescription volume to create the most efficient ePA strategy for all participants. With millions of PA requests submitted each month, CoverMyMeds is the only vendor using the ePA NCPDP SCRIPT Standard at scale. For information, visit http://www.covermymeds.com.
Chrissy Hand, Director of Marketing
Bobby Creek, Vice President of Marketing