Pharmacy billing is as intricate as any other medical discipline with perpetual reimbursement concerns. Pharmacists are required to keep track of their patients, medicines, equipments, and other possible ambiguities, especially those related to accounting and bookkeeping.
To make pharmacy billing a success, you need to entail some best practices in the Revenue Cycle Management chain which can make it a win-win situation for the patient and your practice.
Document the source and track prescriptions through prescription origin codes.
Gather all the patient data along with insurance information, bank details, medicinal and ailment details. Enter it in the Pharmacy Software Management System.
Send the claim for approval and payments, while considering the type of insurance - primary, secondary, tertiary.
Must be done to avoid duplication, reduce errors and ensure timely reimbursements.
Pharmacy billing and coding system must be scalable and flexible to be able to adapt to new innovations.
Up-gradation of pharmacy billing and coding skills, technical know-how of equipments and medications, regular trainings, and knowledge of insurance policies, enable pharmacists to manage their enterprise and assist in patient care, especially those with chronic illness.
MBC's services aid in implementing all your pharmacy prescription billing challenges. It especially aids in and caters to services such as clinical (bundled payment module requiring extensive paperwork), managed care (non-clinical paperwork and report generation), home care and radio pharmacy (both come under Medicare Prescription Drug Improvement and Modernization - MPDIM - requiring billing and coding, data management, bill submission and follow up) services.