The present day U.S. healthcare billing and coding process for patient care services is a multifaceted and difficult system for many to fully grasp. This especially vital for pharmacists who are relatively new to generating revenue for patient care services. Pharmacy billing is challenging for varied reasons, including multiple payers; distinctions of the locations where […]
The recent research reveals that about 85% of the hospitals in USA will witnessing a raise in their Medicare part B because of the recent changes in the Medicare outpatient payment charges hence; medical coding too get revised. The Medicare payment charges came into effect on January 1, 2018 which had revealed a major reimbursement […]
Pharma industry has been described as having a “roller coaster ride” in the year 2017 by The Pharmaceutical Journal. Inadvertently, one might assume that the industry is on the downswing but on the contrary it is on its ride up. Pharmacy billing is in big league in the pharmacy billing management as it is a […]
Have you ever stopped to think about how much your independent pharmacies are earning when it dispenses your medication? It turns out that pharmacies, particularly independent pharmacies, sometimes wind up losing money on those prescriptions. That’s largely due to the low insurance reimbursement rates middlemen, known as pharmacy benefit managers, or PBMs, pay pharmacies and […]
Artificial Intelligence (AI) is disrupting the information growth and how the information is processed and implemented? Though we perceive Artificial Intelligence (AI) as a machine replacement of human abilities AI does add more value to the already set process. Pharmacy billing which has seen a trifle of innovation will need effective technology to emerge as […]
Healthcare executives majorly depend on Pharmacy when it comes to 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 certainly other aspects of Pharmacy Billing that can […]
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 […]
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 […]
With traditional fee-for-service programs giving way to value- and population-oriented strategies, it is forcing health organizations to offer quality care at affordable prices. As a result, health systems have been undergoing large-scale transformation to reduce costs and improve quality of care. Today all medical stakeholders need to increase their operational efficiency as well as the […]
For pharmacists who want to be delegated as medical providers and get reimbursed for their clinical services, working with the legal systems of each state can be really frustrating. Expansion of scope of practice and decreasing revenues from distribution are requiring pharmacists to increasingly embrace clinical care services into their practices. Pharmacists should be able […]
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