MBC Launches Customized Insurance Verification Services for Pharmacy Practitioners

Insurance verification is a critical component in any pharmacy revenue cycle management. As per industry data, more than 70% of all billing claim denials occur due to incorrect billing by the pharmacy practitioners to the insurer. There are occasions when policies are modified, employees switch plans for better benefits, policy gets terminated or expired etc. […]

Steer Clear These Medical Billing Mistakes for a Successful Healthcare Revenue Cycle

Medical billing is the backbone of healthcare revenue cycle management. But it can be a painful process for some providers due to the interaction required with an array of healthcare stakeholders, challenges involved in efficiently and accurately billing patients and payers for the services being performed etc. Effective medical billing is essential for efficient revenue […]

Insure Proper Pharmacy Billing and Reimbursement

Progress in clinical practice coupled with technological advancements and counseling of patients, pharmacists are playing a very significant role in patient care. However, like all other disciplines, pharmacy billing too poses a challenge in this period of ever-increasing health care costs, insurance reimbursement cuts and recurrently changing health plans. For apt reimbursement, pharmacists must bill […]

Is Private Practice Challenging or More Rewarding?

One of the most daunting questions for any practitioner is whether or not to start a private practice. Although having a private practice is a huge accomplishment in itself, it is not a cake walk. To be able to deal with the innumerable barriers, streamlining processes and the whole gamut of operational workflows and the […]

Pharmacy Reimbursement: Make the Most of MTM

By definition, Medication therapy management (MTM) is medical care provided by pharmacists whose aim is to optimize drug therapy and improve therapeutic outcomes for patients. Due to their specialized training and unique insight Pharmacists today are playing a pivotal role in improving patient outcomes by recommending suitable medications and providing other allied services like direct […]

Health-System Pharmacists Embrace Medication Standardization Campaign

Over the past decades it has been observed that standardization of Intravenous (IV) medical products and compounded oral liquid products is an important error prevention strategy in the process of patient healthcare. This is because these two types of medical products are used mainly while treating vulnerable patients and contain numerous high alert medications which […]

A Detailed Reimbursement Process for Medicare Pharmacy Claim

The Medicare Prescription Drug Improvement Modernization Act (MMA) of 2003 created the Medicare Part D, prescription of drug benefit program and implemented it on January 1, 2006. Pharmacy reimbursement under Part D is based on negotiated prices, which is usually based on the Average Wholesale Price (AWP) minus a percentage discount plus a dispensing fee. […]

What does a Pharmacy Billing Specialist do for Your Practice?

With increasing competition and decreasing margins, survival is becoming a challenge. As a result, to enhance the business processes and efficacy, pharmacy companies have either moved to an automated management systems or planned to outsource pharmacy services. Billing being an integral function that requires precision and agility, anything/anyone who can simplify the process could be […]

Managing the Revenue Cycle Management duties for Pharmacy

Revenue Cycle Management duties for Pharmacy Hospital Management and Pharmacy billing may altogether be of different proportions as far as work undertakings are concerned, but the evolving healthcare scenario has pushed for stringent medical billing and coding practices. If your pharmacy is still undermined and not knowledgeable about the latest best practices, managing the Revenue […]

Pharmacy Billing: Measuring Value Today and Tomorrow

Since its inception, the pharmacy sector of healthcare has been faced with various challenges which have threatened the quality and the affordability of care for its patients. These challenges often resulted in administrative as well as billing burdens impacting pharmacy operations, unique accounting, bookkeeping, and even patient safety. Though technology has removed most of the […]