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E-prescribing can help save millions in healthcare costs

Technology has helped make our lives more convenient. E-prescribing is an example of worthwhile technological development in the field of healthcare. Put in the simplest way it is a method of generating prescriptions through an automated data-entry process which uses e-prescribing software and connects with participating pharmacies through a transmission network. Thus this process eliminates the requirement of paper, fax and phone from the process of creating prescriptions and delivering medication to patients. In fact it can make the process of delivering medications to patients significantly safer and efficient.

E-prescribing has been widely publicized as an effective solution for ensuring patient safety, as well as for containing the ever-increasing medication costs. It has been estimated that medication errors cause nearly 7,000 deaths in the United States every year. These errors mostly result from the illegible handwriting on prescriptions which lead pharmacists to deliver wrong medication. The errors can also lead to incidents of wrong dosage or missing out on important information about allergic reactions from various drugs or their combinations. Furthermore, pharmacists frequently spend a lot of time deciphering illegible handwriting on prescriptions. Time spent this way is completely wasted and if anyone calculates the total amount of time wasted on a daily basis understanding such prescriptions by all pharmacists working in the United States it would surely turn out to be a significantly big figure.

E-Prescribing comes with considerable financial benefits as well. According to recent reports by 2014 it can help a state save up to $16 million in claim expenses and the federal government up to $53.8 million.  Health expenditure would decrease by $164 million with insurance companies and low income residents being the biggest beneficiaries as they stand to save around $45.6 and $41.9 million respectively on healthcare.

E-prescribing has many other benefits as well. For one, it can improve beneficiary health outcomes. Providers that adopt and invest in this technology would be able to improve quality and efficiency. This would not only help reduce costs but also ensure appropriate drug usage. Providers and dispensers would be better informed about formulary-based drug coverage and co-pay information. This would help speed up the renewal process of medications. The problem of drug diversion can also be thwarted by the use of this technology as providers and pharmacists can be readily alerted about duplicated prescriptions in the case of controlled substances.

According to records, number of prescriptions written annually in the United States is nearly 3 billion. This places it among the largest paper based process in the country. The establishment of an e-prescribing system would dramatically streamline the process and make it significantly more efficient. Thus this system can empower both prescribers and pharmacists.

Binary Spectrum is a well-reputed company with an online presence which has been developing software for e-prescribing with highly successful results.

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