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 […]
Drug therapy, compared to hospital treatment and the surgical procedure is more coherent of medical treatments. Who’s in charge of prescription benefits? Many people think that prescription drug aids come straight from a health insurance provider, when in fact, there’s a very important intermediary doing the bulk of the work for over 80% of employers […]
Healthcare executives majorly depends on Pharmacy when it comes increasing their revenue. Without saying it goes hand in hand. Furthermore, CMS has reduced its Average Sales price margin from 6 % to 4 % for non-pass-through. This has affected pharmacy billing and reimbursement. However, there are certain other aspects of Pharmacy Billing that can affect […]
A recent survey forecasted that the pharmacy automation market will hit $8.8 billion in the year 2018. In the year of 2011, the pharmacy market was valued at $4.7 billion and nearly 60% of the generated revenue came from automated medication dispensing system. Pharmacists believed that this pharmacy segment is expected to see a compound […]
Altercations in the role of a pharmacist’s in the community pharmacy are impacting the highly evolving healthcare ecosystem and the trends will continue to grow in this rapidly transitioning system. The present-day pharmacies are not just your traditional drug stores, which offer you the prescribed medicines and jot it down in the medical billing, but […]
Recently, there have been a lot of changes that healthcare professional witnessed. The role of healthcare professionals have changed and it is believed that by the year 2035 the numbers of primary health care physicians which are now available and managing patients are not sufficient. And with that, the role of non-physicians health care providers […]
Patient communication at all levels in a healthcare system is proportionate to the increase/decrease in revenues. This is especially true in the case of patient interaction with pharmacists. In this article, we discuss the ways in which revenues can be enhanced by way of patient communication especially when there have been cases of dissatisfaction where […]
Health literacy deals with a patient’s ability to obtain and process the health information for taking their health decisions; and to imbibe this understanding in the patient, pharmacists play a major role. As this is the last interaction in the chain of healthcare before patients begin to take their medication, the pharmacists must counsel effectively. […]
Acing pharmacy billing ensures efficiency of handling patients and adding revenue of the pharmacy. With the help of automated systems, pharmacy billing will be able to process claims faster, with more accuracy and should be streamlined. The practice of pharmacy billing today requires the suitable resources like operating and technological systems to enhance the productivity […]
Pharmacies today are home to various financial challenges that result from their limited role, rising medication cost, complex contracts with insurance providers and ever-evolving regulatory policies that tend to work in favor of the patients. They often face cost pressures that impact their revenue cycle management. While focusing on various aspects of running a pharmacy […]
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