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00:02Major U.S. health insurers, including CVS Health, UnitedHealthcare, Cigna, Humana, Elevance Health, and Blue Cross Blue Shield
00:09announced Monday they will voluntarily streamline the prior authorization process.
00:14This step aims to reduce delays in care and lessen the administrative burden on health care providers.
00:19The initiative will impact 257 million Americans across commercial, Medicare, and Medicaid plans.
00:24Key goals include adopting electronic submission standards by 2027, ensuring at least 80% of electronic requests with all clinical documents are processed in real time.
00:34Insurers also plan to reduce the number of services requiring prior approval by 2026, addressing longstanding criticism from doctors and patients about delays and inefficiencies.
00:44For all things money, visit Benzinga.com.
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