Did you know that physicians complete an average of 43 prior authorizations for medications and procedures each week, spending about 12 hours on this task? Additionally, 55% of patients experience delays in therapy due to medications requiring prior authorization. Alarmingly, 37% of prescriptions initially rejected at the pharmacy are ultimately abandoned, leaving patients without the medications they need. In collaboration with researchers from the University of Cambridge, and Columbia Data Analytics, we examined the unintended consequences of cost-saving policies, such as formulary restrictions and prior authorization requirements, implemented by some state 2019-2023 Medicaid programs. Our findings reveal that patients with serious mental illnesses in these states suffer worse health outcomes and actually incur higher costs. While there may be minor savings on pharmacy costs, these are offset by increased expenses in inpatient, outpatient, and emergency room services.
🔔 Another Fall Conference Alert! We’re thrilled to announce that our team co-authored 3 groundbreaking abstracts accepted for presentation at the Psych Congress in Boston. These studies are at the forefront of exploring how healthcare systems influence patient care and costs, providing valuable insights for policymakers and healthcare providers. Learn more about the Psych Congress: 🔗 https://lnkd.in/e7nPfcTF #USPsychCongress2024 #MentalHealthResearch #HealthcarePolicy #MedicaidImpact #PsychCongress #MentalHealthAwareness #HealthcareInnovation #Otsuka #RealWorldEvidence #RWE #HEOR #OutcomesResearch #Dataanalytics
Clinical informatics leader with a passion to transform healthcare through data-driven care redesign
4moLove this analysis! It is so important to understand the impact of these insurance decisions on the long term health of patients and overall cost to the health care system. Would love to see more formulary restrictions evaluated!