#e-prescribing

e-Prescribing is a technology that allows healthcare providers to electronically send prescription orders to pharmacies. This technology offers numerous benefits, including improved patient safety, streamlined workflows, and reduced errors. In our blog post, "e-Prescribing - Streamline Your Prescription Process," we explore the benefits of e-Prescribing in detail and provide tips on how to implement this technology in your healthcare practice. Our expert advice covers topics such as software selection, workflow design, and staff training. By adopting e-Prescribing technology, you can improve the efficiency of your prescription process, reduce errors, and enhance patient safety. Check out our blog post today and start exploring the benefits of e-Prescribing for your practice.

e-Prescribing or electronic prescribing is the use of electronic tools to prescribe drugs. 

e-Prescribing is the prescriber's ability to electronically send an accurate, error-free, and understandable prescription directly to a pharmacy from the point of care.

Several benefits of e-prescribing such as enhanced patient safety, reduced prescription and medication errors, instant clinical alerts, prescription fulfillment tracking, Covid-19, favorable regulatory environment in select countries, accelerated use of telemedicine, growing focus on reducing the abuse of controlled substances, increasing adoption of EHR solutions are some of the key factors driving the Global e-Prescribing Market. However, limited technology awareness among end-users is likely to hamper the growth of the market.

Favorable Regulatory Changes Across Countries Provides Impetus to the e-Prescribing Market Growth

The Covid-19 pandemic has triggered the need to amend the e-prescription legislation so that people are able to access a range of healthcare services in a timely and effective manner.  For instance,

In order to curb the rise in drug-related deaths in the US, the federal government and several states including California, Indiana, Maryland, Michigan, Nebraska, New Hampshire, Utah, and Washington have mandated the e-prescribing of controlled medications in the US. The mandate requires clinical prescribers to write controlled medications electronically.

e-Prescription Benefits Triggers It’s Market Demand

Increasing usage of technology across every aspect of healthcare has enabled the demand for e-prescription globally.

Some of the major benefits of e-prescribing that are driving its market demand are as follows:

Reduced Pharmacist Error: As compared to hand-written prescriptions, e-prescriptions are explicit and clear in terms of prescribing treatment and dosage. This leads to reduced prescription and medication errors as it requires less interpretation from pharmacists.

Instant Clinical Notifications: e-Prescribing systems provide notifications to prescribers about allergies, potential drug interactions, duplicate therapies, pregnancy and other issues that would be contraindicated for a patient when taking a particular medication.

Prescription Fulfillment Tracking: e-prescription systems help doctors/clinicians track whether or not patients are adhering to prescribed medication/treatment.

Growth Strategies Adopted by Industry Players to Establish Their Foothold in e-Prescribing Market

The global e-Prescribing market is marked by the presence of both leading and new players. Key players operating in the market adopt both organic and inorganic growth strategies such as new product launches, and acquisitions to garner higher market share. 

The e-Prescribing market is a booming market that is expected to gain further momentum in the coming years due to the benefits of e-prescribing, Covid-19 after-effects, favorable regulatory changes across countries, accelerated use of telemedicine, and growing focus on reducing the abuse of controlled substances.

Competitive Landscape Analysis: e-Prescribing Market

The global e-Prescribing market is marked by the presence of key players such as Allscripts, NextGen Healthcare, AdvancedMD, MDToolbox, Practice Fusion, DrFirst, RXNT, Chetu, PrognoCIS, NewCrop, among others.

Prescription information is produced electronically, exchanged electronically, and delivered electronically in the process of e-prescribing (e-prescribing). This method completely eliminates the need for a printed prescription. In addition to e-prescriptions, paper prescriptions, both handwritten and computer produced, are still legitimate ways to prescribe a medicament.

The following are some of the advantages of e-prescriptions for health care providers:

·        are communicated instantly;

·        are more efficient;

·        are less likely to be tampered with or falsified;

·        may decrease transcribing and other sorts of mistakes;

·        and eliminate the need to touch or store a paper document

E-prescriptions for patients:

 ·        They eliminate the need to touch or keep paper documents;

·        They are safe and secure

·        They cannot be lost or misplaced.

Medicaid plans face the challenging task of recovering claims payments made in error when program recipients do not report primary coverage information at the time services are rendered. Plan beneficiaries do not share other coverage information for a multitude of reasons, but usually, they are not aware that other coverage exists. Without technology at the point of sale to prospectively identify other health insurance (OHI), payers of last resort cannot help but make claims payments incorrectly. Once it is discovered that a claim was the liability of another third party payer, Medicaid plans try to recover those payments with a method referred to as pay-and-chase. Unfortunately for payers trying to recoup improper claims payments, the actual monies recovered remain around twenty cents on the dollar. Within this post, we will examine a new approach to Medicaid third-party liability cost avoidance. We will discuss how e-prescribing functions and how its OHI databases can be used by Medicaid to cost avoid millions of dollars in payments made in error.

What Is E-Prescribing?

An e-prescribing infrastructure provides a safe and secure means to electronically connect patients, healthcare providers, pharmacies, and pharmacy benefits managers (PBMs). It outlines the ability to send error-free, accurate, and understandable prescriptions electronically from the provider to the pharmacy. For an e-prescribing system to function, there needs to be a master database that maintains consistent, accurate, and current demographic and necessary medical data on the patients seen and managed within its various departments. The need for prompt and accurate OHI data necessitates the cooperation of health plans and PBMs to provide ongoing active eligibility data to the database.

The Transaction Hub is the common link between the prescriber, pharmacy, and PBMs. The hub routes inquiries to PBMs and prescriptions to pharmacies. For this complicated process to operate, the eligibility and demographic data that passes through must be consistent, accurate, and current. This is achieved through a Master Patient Index.

A master patient index (MPI) is a database used in e-prescribing platforms to maintain consistent, accurate, and current demographic information and essential medical data on the patients seen and managed within its different departments. MPIs are intended to solve the common problem where multiple systems throughout the organization progressively become inconsistent with respect to the patient's most current data; for instance, when the patient's information changes and only one system is updated, the changes are not propagated to the others.

When the Transaction Hub receives patient demographics and medication from a provider, it will confirm the patient with the MPI, sending an electronic message to the PBM. In response, the PBM will send information on the patient eligibility, formulary, and medication history back to the Transaction Hub. The Transaction Hub then delivers this data back to the healthcare provider, who can make a decision about the prescription based on this information.

Leveraging an E-Prescribing MPI for Medicaid TPL Efforts

As previously stated, the key to an effective e-prescribing system is its MPI, which is continuously being updated by its partners. The eligibility and demographic data that passes through must be consistent, accurate, and current for the system to operate. While an e-prescribing MPI is built specifically for electronically writing prescriptions, we have found another powerful use for it in Medicaid TPL cost avoidance.

Anyone involved with Medicaid TPL understands that the market needs a technology-based solution to strengthen recovery. In 2010, Syrtis Solutions started the process of experimenting with the Surescripts MPI to see if we could deliver high-quality, active Rx coverage and corresponding medical coverage that existing systems cannot provide. 

Through active participation of almost every PBM and payer in the commercial healthcare marketplace, the Surescripts MPI of more than 280 million covered lives is the largest in the nation. Connectivity to the Surescripts MPI allows for superior OHI discovery.

ProTPL Case Study

In a case study with one of our Medicaid Managed Care customers, for which nearly 3 million transactions were processed, 38,754 utilizing members were discovered to have OHI. These discoveries resulted in the cost avoidance of $14.6 million in unnecessary claims payments.

The initial step to gaining insight into how ProTPL will benefit your Medicaid plan is for Syrtis Solutions to perform a no cost quantitative claims analysis. By checking your claims against the Surescripts MPI, we can, in empirical terms, show you exactly how much your organization can save.

The Global E-Prescribing Market report, published by Reports and Data, unravels a wide spectrum of significant factors impacting the performance of the sector. It uses the historical analysis of the market from 2017 to 2018 to provide the reader with an accurate understanding of the current market scenario and offer concise market estimations for the forecast period of 2019 to 2027. The latest market intelligence report extensively studies the ongoing growth trends, emerging market segments, and growth prospects over the projected timeframe. It further sheds light on the ever-changing patterns, dominant facets, and infrastructural properties.

The report lists down some critically important parameters that help the market bolster its global foothold and contribute substantially to future revenue generation. Additionally, the report includes specific details related to the E-Prescribing industry, such as product offerings, sales and revenue estimates, leading regions, key market contenders, and technological upgradation.

The latest report is the most recent one offering full coverage of the impact of the ongoing COVID-19 pandemic on the global E-Prescribing business vertical. The outbreak has extensively affected the global economic landscape. The report examines the current scenario of the ever-evolving business setting and the aftereffects of COVID-19 on the market. The global health crisis has brought massive changes to the market, revolutionizing the global economic scenario. Besides drastically affecting the E-Prescribing Market, the pandemic has led to severe disruptions to supply chains and caused volatility in prices and demands. However, the market is expected to regain momentum in a post-COVID-19 scenario, according to our market analysts. Further, experts assessed the essential facts and figures relevant to this market using several industry-wide prominent analytical tools, such as SWOT analysis and Porter’s Five Forces.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3006

Competitive Terrain:

A precise summary of the intensely competitive landscape of the global E-Prescribing Market has been included in the latest report, with the systematic listing of the company profiles of the leading market players. This section of the report studies the strategic initiatives undertaken by these market rivals for business expansion. In addition, it highlights the key developments and financial positions of these companies to explain the overall market scenario. The company profiles of both established and new players have been assessed using effective analytical tools like SWOT analysis.

The following are the leading market players:

Cerner Corporation, Athenahealth, Inc., EPIC Systems Corporation, Allscripts Healthcare Solutions, Inc., Quality Systems, Inc., Relayhealth Corporation, Medical Information Technology, Inc., Surescripts-Rxhub, LLC. Henry Schein, Inc., and Computer Programs and Systems, Inc., 

Regional Overview:

The latest research report entails an in-depth analysis of the current growth opportunities for various regions of the E-Prescribing Market, gauging their revenue share over the forecast timeline. Furthermore, the report analyzes the year-on-year growth rate of these regions over the forecast duration. The leading geographic regions encompassed in the report include:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East & Africa

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Other significant market segments highlighted in the report are:

Type Outlook:

Handheld Device

Computer-Based Devices

Application Outlook:

Hospitals

Pharmacies

Office-Based Physicians

The report considers the following timeline for market estimations:

·         Historical Years: 2017-2018

·         Base Year: 2019

·         Estimated Year: 2027

·         Forecast Period: 2020-2027

To know more about the report, visit @ https://www.reportsanddata.com/report-detail/e-prescribing-market

Highlights of the TOC: 

1.      Global E-Prescribing Market Report Overview:  Research Scope Key E-Prescribing Market segments Major players Market analysis by product Market analysis by application Report timeline

2.      Global Growth Trends  Global E-Prescribing Market size Latest trends of the E-Prescribing Market by region Key growth trends

3.      Global E-Prescribing Market by Product Global E-Prescribing  Sales by Product Global E-Prescribing  by Product Revenue

Key takeaways of the Global E-Prescribing Market report:

·         The report enumerates the most vital market drivers, restraints, opportunities, threats, and challenges.

·         The report reviews the regulatory framework for creating new opportunities in various regions of the market and focuses on the new revenue streams for the players in the emerging markets.

·         It elaborates on the new, promising arenas in the leading market regions.

·         The report studies the recent research & development projects, along with the technological innovations in the key regional segments.

·         The report highlights the potentially market-disrupting technological advancements and business models that are poised to take the market to an all-new level of growth.

·         It offers details in the rising revenue share and size of the leading product segments of the market during the forecast period.

Key queries addressed in the report are as follows:

·         Which product segments have witnessed new, profitable application areas over recent years?

·         Which business models are projected to fast-track the expansion of the key regional markets over the forecast timeframe?

·         Which strategic initiatives adopted by the market rivals are expected to fortify their already established presence in the Automotive Lubricants industry?

·         Which technologies prevailing in the market are expected to witness the highest research investments in the near future?

·         What will be the significant sources of funding for start-ups and new entrants in the industry?

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