Pharmacy Billing Services
Is your pharmacy billing slowing you down? Let us handle the complexities so you can focus on patient care and profitability!
Elevate Your Pharmacy's Financial Health with Our Specialized Billing Services
Pharmacy billing is a distinct process that starts with handling prescription claims through the PBMs to working with the payer to identify reimbursement mechanisms for clinical services, including immunizations and health screenings, among others. Our pharmacy billing services aim to enhance the operations of pharmacies throughout Rhode Island to meet these needs. Our revenue cycle management services encompass claim submission, claim denial, and payer compliance services. Through our extensive knowledge of National Drug Codes (NDCs) and insurance legislation, we assist pharmacies in minimizing the number of mistakes, avoiding insurance claim rejections, and obtaining the greatest amount of compensation so that facilities can dedicate their energies toward providing superior patient care.
Our Comprehensive Pharmacy Billing Services
Prescription Claim Management
We have expertise in processing prescription claims exactly with submitting compliant claims to all related payers and PBM. Our team focuses on the errors and eliminates them on the spot to reduce denials and expedite approvals.
Medical Billing for Clinical Services
Given the evolution of a pharmacist’s responsibilities, we deal with payments for procedures such as immunizations, health screenings, and chronic disease management advice.
Denial Management and Appeals
We have a detailed denial management system that will closely evaluate rejected various claims, rectify them, and resubmit them with the required procedures.
Revenue Cycle Optimization
We use sophisticated analysis and detailed payer data to maximize your pharmacy’s revenue. This involves such factors as paying for claims within the shortest possible time.
Regulatory Compliance
We keep abreast of the state-specific billing rules affecting Rhode Island as well as the federal provisions. We make sure all claims are compliant, so you avoid costly audits and penalties.
Custom Reporting and Insights
We offer comprehensive reports encompassing financial and operational reports to offer you complete visibility into your pharmacy’s billing function. These ideas provide the best information to enable you to make proper decisions to improve efficiency and the amount of revenue generated.
Pharmacy Billing Coverage We Provide
Our services cover various aspects of billing services for the pharmacies functioning in Rhode Island, including claims, revenue, and accounts receivable. Our services cover:
Billings service for independent pharmacies to increase cash flow, minimize rejected and denied claims, and address the competitive threat of chains.
Handling large numbers of prescription claims and other clinical services reimbursement for chain retail pharmacies.
Focused billing for compounding pharmacies to address the distinctive claims processes involved in delivering individual drugs and other services.
Specialty pharmacy billing solutions to get maximum reimbursement for costly drugs and therapies.
Reimbursement for additional services by pharmacists such as administration of vaccines, health screenings, and other chronic disease management services for the purpose of maximizing revenue for such valuable services.
Exempt from health insurance coverage for durable medical equipment (DME) and over-the-counter (OTC) sales because of intricate claims processes for insurance reimbursement.
Our Steps of Pharmacy Billing Process
Prescription Data Capture
Our solutions effectively retrieve prescription data containing information on the patient, medication, and billing code.
Prescription Data Capture
Our solutions effectively retrieve prescription data containing information on the patient, medication, and billing code.
Claim Submission
We provide claims to insurance companies, Medicaid as well as Medicare.
Payment Posting
Payments are promptly recorded to patient accounts, which allow for early recognition of revenues.
Denial Management
We manage denied claims, challenging the ones that are wrong or lack proper information.
Accounts Receivable Follow-Up
We seek to recover every outstanding claim to avoid a long recovery period.
Reporting and Analytics
We offer comprehensive reports on important benchmarks, including reimbursement rates and rate of claims denied
HIPAA Compliance
We follow HIPAA guidelines to the letter in order to protect the patient’s identity and information.
Take Control of Your Pharmacy Billing Today
Are you looking to improve your pharmacy billing and collection services? Hire Rhode Island Medical Billing Company for your pharmacy’s specific needs for effective solutions. Call us today to book a consultation and start improving your billing for better efficiency!
