Prior authorization is a crucial cost-containment strategy in which non-emergency medical services must be approved before treatment can be provided. This helps control healthcare costs by ensuring that services are deemed necessary and appropriate before they are rendered. It also allows for better coordination and management of care. As a finance professor, I cannot stress enough the importance of prior authorization in maintaining a sustainable healthcare system. It not only saves money, but also improves the quality of care for patients. So, let's delve deeper into this concept and understand its implications.
