Your browser is: WebKit 537.36. This browser is out of date so some features on this site might break. Try a different browser or update this browser. Learn more.

Health Insurers Pledge to Reduce Red Tape for Care Approval

Photographer: FS Productions/Tetra images/Getty Images

Takeaways by Bloomberg AI

A group of the nation’s largest health insurers agreed to streamline preapprovals for medical care, addressing a controversial process that can result in delays or outright denials of patient treatment.

The insurers pledged to reduce the number of procedures that require so-called “prior authorization,” standardize processes across different plans and ensure 80% of electronic approvals for medical claims are answered in real time. The voluntary changes, which would be implemented on varying timelines by 2027, are set to be formally announced on Monday.