FEATURED: Point of View
eRecovery™ Solutions Product Leader
Innovative Delivery Solutions
For the past 10+ years, hospital CEOs have cited financial challenges as the number one issue their organizations are facing, according to American College of Healthcare Executive’s annual survey of hospital executives. Hospitals and health systems that have indigent care as part of their missions are especially feeling the pressure of increasing costs to treat at-risk populations, which reached nearly $85 billion in 2013.
As a result, it’s increasingly important for hospitals and health systems to look for ways to recover costs associated with uncompensated care, while ensuring patient compliance with medically necessary medications. A Patient Assistance Program (PAP) is one way to accomplish these goals. By connecting eligible patients with drug manufacturer programs that provide free medications and medical devices – PAPs can be a win-win for patients and health care providers alike.
Even with Medicaid expansion and the Patient Protection and Affordable Care Act, a PAP process is still foundational in treating the un- and under-insured. Regardless of whether you self-manage or outsource the management of your PAP, now is the time to consider whether it’s adapting to the changing healthcare landscape. If not, you could face costly and time-consuming rework and potential audits by manufacturers and foundations alike.
Here are five steps you can take to ensure you continue to drive compliance for your hospital’s PAP, promote better care for the patients and improve the financial health of your organization.