The most common categories of commercial payers to be aware of are employer-sponsored health plans and manufacturer vouchers. In the case of the patient with commercial coverage, by law, it is billed before Medicaid and Tricare and is almost always the primary payer. A common misunderstanding among patients with manufacturer vouchers (i.e. ‘co-pay cards’) is […]
Read More.. Pharmacy Claims and Commercial PayersMaximizing Reimbursement and Minimizing Liability by Using Pharmacy Audit
Payers audit pharmacies because of billing history, a referral from an FWA hotline, a routine, random audit, or other reasons that might signify a potential for FWA to the payer. Often it is in the form of a desk audit, where the pharmacy will be required to fax documentation back to the payer, but can […]
Read More.. Maximizing Reimbursement and Minimizing Liability by Using Pharmacy AuditBarriers to Ambulatory Care Pharmacy
Basics Ambulatory care pharmacy practice is the provision of integrated, accessible health care services by pharmacists who are accountable for addressing medication needs, developing sustained partnerships with patients, and practicing in the context of family and community. It involves being an integral part of an outpatient, multidisciplinary healthcare team to improve quality and patient outcomes […]
Read More.. Barriers to Ambulatory Care PharmacyDeveloping Fee Structure for Pharmacists
In the absence of any outside contracts with MCOs, all payers for service must be charged the same fee. This means that cash-paying customers must be charged the same fee that is billed to third-party payers. To charge the insurance companies a rate higher than the cash-paying customer may be considered fraud. It is important, […]
Read More.. Developing Fee Structure for PharmacistsPrescription Drugs (outpatient) Coverage by Medicare
Medicare Part B (Medical Insurance) covers a limited number of outpatient prescription drugs under limited conditions. Usually, drugs covered under Part B are drugs which patient will get at a doctor’s office or hospital outpatient setting. The patient will pay 20% of the Medicare-approved amount for covered Part B prescription drugs that they get in […]
Read More.. Prescription Drugs (outpatient) Coverage by MedicareHow to bill for Compound Drugs in Pharmacy Billing?
Basics of Pharmacy Compounding Pharmacy compounding is the practice in which a licensed pharmacist combines, mixes, or alters ingredients in response to a prescription to create a medication tailored to the medical needs of an individual patient. Pharmacy compounding, if done properly, can serve an important public health need if a patient cannot be treated […]
Read More.. How to bill for Compound Drugs in Pharmacy Billing?How to reimburse correct amount for your Pharmacy?
As a pharmacist, you may think that your most difficult tasks will include helping patients and keeping track of possible contraindications between medicines. Many pharmacists say those tasks are easy compared to getting correct reimbursements. Pharmacy billing is no simple matter, although technology removes most of the headaches. Basics of Pharmacy Billing From Pharmacy to […]
Read More.. How to reimburse correct amount for your Pharmacy?Prescription Drug Coverage through Medicare Part D
Medicare’s prescription drug benefit (Part D) is the part of Medicare that provides outpatient drug coverage. Part D is provided only through private insurance companies that have contracts with the federal government. It is never provided directly by the government, unlike Original Medicare. Plans can vary the list of prescription drugs they cover (called a formulary) […]
Read More.. Prescription Drug Coverage through Medicare Part DWhy Prior Authorization Required for Prescription Drugs?
What is a Prior Authorization? Prior authorization for prescription drugs is required when the insurance company asks the patient’s physician to get specific medications approved. Prior authorization must be provided before the insurance company will provide full (or any) coverage for those medications. Health insurance companies pre-authorize medications in order to keep healthcare costs low. […]
Read More.. Why Prior Authorization Required for Prescription Drugs?How to overcome factors impacting on pharmacy claims reimbursement?
Healthcare service providers spend most of their time and money to achieve transparency in submitting their medical claims. But the need of the hour for specialty pharmacies is to make better practice management standards, which will allow consistent recovery of aging Accounts Receivables and stabilize the cash flow. But today, aligning your charging priorities with […]
Read More.. How to overcome factors impacting on pharmacy claims reimbursement?