COLUMBUS, Ohio, Sept. 14, 2017 /PRNewswire/ -- CoverMyMeds, a leader in electronic prior authorization (ePA) solutions, today announced plans to expand its specialty solution by developing a new e-Referral platform to help patients get the specialty medications they need to live healthy lives.
Currently, the process for initiating and monitoring treatment for patients who need specialty drugs depends on a series of manual activities for providers, specialty pharmacies and payers. This includes the coordination of insurance coverage, selection of an appropriate specialty pharmacy, prior authorization (PA), patient consent, and enrollment in patient assistance programs. These processes, when done manually, often result in treatment delays and gaps in therapy for patients, as well as administrative waste and lack of visibility into patient outcomes.
CoverMyMeds plans to expand its specialty solution by building upon the success it has already achieved in specialty medication access. In 2016 alone, more than 300,000 providers used CoverMyMeds to request prior authorization for specialty medications. By using CoverMyMeds, these participants can reduce prescription abandonment and ensure appropriate medication access, while greatly reducing turnaround time for specialty PA determinations.
CoverMyMeds' e-Referral platform for specialty medications will connect specialty pharmacies, providers and payers to more efficiently coordinate treatment with specialty therapies and help improve ongoing care management. With the platform, providers will be able to identify which specialty pharmacies can service the patient, select an appropriate network pharmacy, and efficiently complete the steps necessary to coordinate and monitor treatment within their normal workflow. Specialty pharmacies in the CoverMyMeds network would then receive a complete set of electronic information required to process the patient's therapy.
Through its e-Referral platform, CoverMyMeds will maintain a neutral network that allows participation by all pharmacies, providers and payers. The company is currently inviting specialty pharmacies to learn more about the CoverMyMeds specialty platform by visiting go.covermymeds.com/specialty.
Upon launch, the e-Referral platform will be available through the entire CoverMyMeds network, including the more than 500 integrated electronic health records (EHR) systems, payers representing 80 percent of U.S. prescription volume, 700,000 providers and all specialty pharmacies who choose to participate. The result will be rapid, appropriate access to specialty therapy, reduced administrative burden and a technology network that allows participants to advance towards outcome-based specialty care.
Tony Gottschalk, vice president of specialty access programs, leads the plans for the company's expanded specialty solution. Tony brings more than 20 years of biopharmaceutical industry experience to the CoverMyMeds team, with a focus on innovation, partnership, patient care and regulatory compliance.
"Our plans for CoverMyMeds' specialty e-Referral platform will offer increased transparency and collaboration among providers, payers, specialty pharmacies and hubs—helping to decrease administrative burden, increase speed to therapy and improve medication adherence for patients," said Gottschalk. "Our approach builds upon CoverMyMeds' market-leading position in ePA, our leading network of EHR integration partners, and one of the largest user-bases of providers in the country. We believe that the scale of our network and our unique technology capabilities will help solve some of the most challenging problems in specialty medication management. Last year alone, CoverMyMeds helped millions of patients obtain access to their specialty medications, and we expect continued adoption of our solutions as the industry's growing pipeline of specialty drugs reaches the market, creating a mandate to our industry to lead the way towards outcomes-based specialty therapy management."
About CoverMyMeds CoverMyMeds is a leader in electronic prior authorization (ePA) solutions, and one of the fastest growing health care technology companies in the U.S. CoverMyMeds' software suite automates the medication prior authorization process for more than 500 electronic health records (EHR) systems, 62,000 pharmacies, 700,000 providers and most health plans and PBMs. By ensuring appropriate access to medications, the company helps its customers avoid billions of dollars each year in administrative waste and avoidable medical spending caused by prescription abandonment. Visit www.covermymeds.com for more information.