Pharmacy billing entails the payment for services when qualified pharmacists perform all functions within their scope of practice as permitted by state law, thus allowing reimbursement for pharmacists to manage drug therapy within a CPA (Collaborative Practice Agreement). Some state laws allow practitioners to establish CPAs in all practice environments, while others restrict CPA utilization within an institution. It is noteworthy to remember, each state has different regulations dictating the roles and responsibilities in which a pharmacist may engage. Hence before engaging with a pharmacist, please ensure that all regulations have been complied with, else this may affect the Revenue Cycle Management (RCM) process, and your billing could take a financial loss.
Against this background, healthcare providers need to ensure billing is efficiently done when the pharmacy is involved. It is a known fact that many hospital pharmacies are not able to actively improve revenue integrity due to lack of resources, limited time and service demands. The efficiency of this department is highly critical, as they are dealing with medications and solutions to the patients' health-related problems.
Take the pro-active approach and invest in new technology and automated processes to improve financial performance.Back