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With few exceptions, an analytical closed-form expression for the block error rate (BLER) is lacking in block fading channels. Thus, the BLER is often obtained by numerical methods, such as Monte-Carlo simulations, resulting in additional computational complexity. In this paper, we propose a single-parameter analytical approximation for the BLER in flat, block-fading Nakagami-m channels, which significantly reduces the computational overhead. The low computational cost of the approximation makes it feasible to include the BLER in the objective function of larger optimization problems.