NEW YORK, May 19, 2015 (GLOBE NEWSWIRE) -- ghg (Grey Healthcare Group), a leading healthcare communication services agency, today announced it has acquired a minority interest in PARx Solutions, Inc. (PARx), an innovative organization which specializes in expediting the prior authorization process for pharmacies, physicians and patients. PARx's full service approach facilitates a higher number of successfully submitted prior authorizations, resulting in more prescriptions being filled, greater adherence, and, ultimately, better patient outcomes. Terms of the agreement were not disclosed.
The number of prescriptions requiring prior authorization is growing rapidly, and the intensity and variability of prior authorization requirements is making successful submission of forms difficult. According to industry research, only about 30 percent of prior authorizations actually result in the initial physician-prescribed choice of therapy. This represents a significant barrier to care as patients denied prescriptions at the pharmacy due to prior authorization failure are less likely to get that prescription filled at all. PARx uses a combination of proprietary software, automation and a personalized approach to streamline challenging and time-consuming paperwork for prescribers to ensure successful submissions of prior authorizations. This makes the experience easier for the physician and pharmacy, and helps patients receive the medications that they need.
"The focus in healthcare is on ensuring good health outcomes and improving the patient experience. At ghg, we work to help our clients find ways to support those goals. Failed prior authorizations can be a significant barrier to patient care and satisfaction. PARx brings a fresh approach to the process, one that proactively removes barriers and paves the way for a better customer experience," said Lynn O'Connor Vos, chief executive officer of ghg. "We are always looking for innovative partners, like PARx, that will measurably improve the patient experience, and we look forward to bringing PARx services to our clients."
PARx's Prior Authorization Support System (PASS) is designed to support physicians and pharmacies as they manage prescription prior authorization requirements through a web-based portal. PARx's clinical staff work one-on-one with physician offices and pharmacies to streamline processes and improve prior authorization success rates. Through data collection and analysis, PARx continuously ensures that physicians provide accurate and appropriate information to payers to increase the likelihood of a positive outcome.
"We are excited to be joining forces with ghg. Aside from its standing as a premier creative agency, ghg has a deep understanding of the healthcare industry, including the importance of effective workflows to ensure patients can access the medications they need. The prior authorization process and its inherent challenges present a significant opportunity to streamline a critical part of health care delivery, and we believe that ghg's expertise and resources will strengthen and accelerate PARx's ability to improve patient care through the delivery of high quality services to physicians and pharmacies. We look forward to leading the way on that opportunity" said Mike Evanisko, chairman at PARx.
ghg (grey healthcare group) is a leading global healthcare communications company capable of driving every aspect of healthcare communication. Headquartered in New York with offices in North America, Europe, and Asia, ghg works with leading companies to build world-class healthcare and pharmaceutical brands among medical professionals and consumers, with a unique storytelling approach that covers print, digital and television broadcast media, medical education, sales force presentations, public relations and managed access strategies. ghg is a wholly-owned operating company of WPP, a global provider of advertising, branding, and marketing.
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Source:Grey Healthcare Group