In today’s healthcare environment, patient retention is one of the most critical factors influencing practice growth. According to a 2023 study by the Advisory Board, healthcare practices with high retention rates see a 25-30% increase in lifetime revenue. However, an often-overlooked factor that directly impacts patient loyalty is the prior authorization process.
Long delays, confusing paperwork, and lack of transparency in the prior authorization process can lead to patient frustration, resulting in lost trust—and ultimately, patients seeking care elsewhere. This blog will explore how effective Prior Authorization Services can improve patient retention, build trust, and streamline operations, all while safeguarding your bottom line.
Patients expect efficient and timely care, especially when they are navigating medical treatments that require prior authorization. Unfortunately, delays in PA approvals can cause significant disruptions in care.
These delays often stem from inefficient internal workflows, missing documentation, or lack of coordination between providers and payers. The result? Frustrated patients, who are likely to seek care from providers who can promise a faster, smoother experience.
By improving the efficiency of the prior authorization process, you can significantly enhance the patient experience, increase patient satisfaction, and retain long-term patients.
The more transparent and timelier the PA process, the more patients will trust their healthcare provider. When patients feel like their treatment is being delayed without clear communication or valid reasons, they may feel ignored or disrespected, even if they’re not directly involved in the authorization process.
Example: A behavioral health practice partnered with Finnastra to streamline their Spravato (esketamine) prior authorizations. Before partnering, patients often experienced approval delays of up to 10 days. With Finnastra’s integrated eligibility verification and PA services, the approval time was reduced to 2–3 days, significantly improving patient satisfaction. The clinic saw 20% higher retention in the following year.
When your in-house team spends valuable time chasing down paperwork, navigating payer-specific rules, or trying to resolve issues with insurance companies, it impacts patient care. In fact, up to 14 hours per week per provider is spent on prior authorization tasks, which means less time for direct patient interaction.
By outsourcing your prior authorization services to Finnastra, your staff is freed up to focus on what matters most: patient care. This shift improves both the patient experience and the overall efficiency of your practice.
Patients often undergo lengthy treatments that require ongoing authorizations. When a PA is delayed or denied, it disrupts the continuity of care, which can lead to treatment gaps and patient confusion.
Finnastra’s Medical Prior Authorization Services help reduce treatment disruptions by ensuring all prior authorizations are processed quickly and accurately, preventing gaps in patient care. Whether it’s for medications, procedures, or specialty services, we ensure timely approval, so your patients receive the care they need without unnecessary delays.
Patients are more likely to stay loyal to a practice that offers seamless, efficient, and hassle-free experiences. Long wait times for PA approvals or unclear communication about why a treatment was denied can leave patients feeling frustrated and undervalued.
By integrating eligibility verification and prior authorization services, Finnastra ensures that every step of the approval process is handled promptly and professionally, leading to:
A large ambulatory surgery center (ASC) partnered with Finnastra to optimize their prior authorization workflows. Before our intervention, the ASC faced an average PA turnaround time of 8 days, with 20% of cases delayed or denied due to documentation errors. This led to patient cancellations, treatment delays, and lost revenue. After adopting Finnastra’s services, the following results were seen:
Patient retention is closely linked to the efficiency and transparency of your practice’s processes—and prior authorization plays a huge role in this. By streamlining the PA process, reducing delays, and ensuring consistent care, you build patient trust, improve their experience, and, ultimately, increase retention rates.
When you partner with Finnastra, you can expect:
Finnastra’s Prior Authorization Services are designed to simplify complex workflows, ensuring that your practice can deliver better care, faster approvals, and an improved patient experience.
Contact Finnastra today to learn how we can help your practice retain more patients and boost satisfaction.
Visit: Finnastra Prior Authorization Services
