Are you struggling to survive in an economy where margins keep reducing and the competition keeps increasing? Are you looking for a system which can automate your billing management systems? Then, pharmacy billing is what you need! Irrespective of the sector and the vertical, companies are relying on automating their management systems. One of the most important solutions that have caught the attention of pharmacists all over is the pharmacy billing services, which is a part of the everyday functioning of a pharmacy and requires precision and integrity.
Flatworld Solutions can provide you with the required pharmacy billing services which will accelerate your billing procedures by automatically calculating the discounts, taxes, postings, reimbursements, etc.
Pharmacy Billing Services We Offer
Daily Census Updates
Census maintenance is a very important function from a medical billing point of view, as it involves creating proper records of the patient and the payee. It involves recording information of patient discharges, change of physicians, etc. All this is essential especially if your customers plan to make a medical claim.
Admission is the first step in the medical billing process and involves recording the details of the patients like their name, age, blood group, medical history, diagnostic reports, previous prescriptions, known allergies, etc.
Prior Authorization Document Management
The billing management systems we develop ensure that complete authorizations are taken before the processing begins. This ensures that patients are always covered by a health plan and there are minimal claim denials. Our authorization systems are set to handle every drug category and emergency levels.
Refill management is another area that requires great attention and quicker action, as your customers are not going to be very patient with you the second time they come around. We will help you set up all the necessary approvals and reminders so that when a customer comes in for a refill, you can process it right away without any delay.
We know that every small service that doesn't get billed impacts your bottom line directly, so we take care and handle it with a lot of attention. The most important aspect of this service is to ensure that only services performed are captured and billed at the right time.
This is probably the most labor-intensive activity in pharmacy billing, but the good news is that we can automate it. We will help you streamline the manual payment postings, automatically post the insurance payments, and reduce the data entry time.
Pharmacy Billing Process We Follow
We believe in providing our clients with cost-effective and the best-in-class services. This is possible by making use of streamlined and systematic processes. Some of the key steps involved in our pharmacy billing process include -
Receive Mail Order
In the first step, we receive the mail order from the Pharmacy Benefit Management (PBM) team via Opex or any other FTP/scanning tools. The team would negotiate costs with the manufacturer for better discounts
Once the negotiations are done, our team of pharmacy billing experts will verify all the patient details such as name, address, SSN number, dependent information, etc. and the physician details such as name, NTI number, etc.
Data Conversion Entry
Each document is scanned, classified, and converted to a system-readable format from the original scanned format
Medication Refill Check
Once the data is converted, the medication refill status is checked which will help in understanding the required quantity of medication considering the duration of the prescription
Organizing Prescribed Medicines
In this step, we find the exact brand name of the prescribed medicines and suggest the generic names of the molecule, cutting down the costs even further
If the medicine prescribed is generic, then we go ahead and place the order in the client's software. A copy of the order will be sent to the insurance company and one to the patient. For emergency kits, the order is usually placed within 30 minutes of receipt
We have a dedicated team to keep a track of the consignment till it is delivered to the patient. The escalations are followed in cases where the delivery is delayed at the logistics end
Once we receive the check for payments, we update it into the billing management system and send our reminders for due dates of the payment. Apart from this we also provide AR follow-up and payment posting services if required
Why Choose FWS's Pharmacy Billing Services?
Once you outsource healthcare billing and pharmacy billing to FWS, we work with pharmaceutical companies to the understand the billing cruxes. With an ultimate objective to prevent delay or denial of payment, we work proactively to eliminate these risks from coming in the way of efficient billing. With knowledgeable experts in charge of billing functions, we have more to offer than just billing solutions. Have a look at benefits you can avail by partnering with pharmacy billing services company like ours -
We are an ISO certified, and RBMA Corporate Partner. All our processes are HIPAA, ICD-11, and DSM 5 compliant. Our pharmacy billing support executives are well-trained and follow recommended billing procedures to ensure data confidentiality
We understand the importance of safeguarding patient data when it comes to pharmacy billing. Apart from signing confidentiality agreements, we also conduct regular audits to ensure that all client data is 100% secure with us, and not compromised at any cost
High Accuracy and Quality Service
Be it an A-rated generic drug, or branded/unbranded drugs we have professionals who understand the nuances of pharmaceutical drug categories. The broad knowledge allows us to handle a variety of documentation with unmatched quality and precision
At FWS, we are attuned to executing billing solutions under limited time constraints. We deliver reliable pharmacy billing services and reports at quick TAT. You can save 35% of the time on other key concerns while we handle pharmacy billing service
We render custom billing solutions with an eye on future needs. As your business evolves, you may face higher billing volume and complex regulatory compliances. This will be completely taken care because our billing solutions are designed to handle scaling demand
Pocket-friendly Pricing Options
When you outsource pharmacy billing services the pharmacy billing requirements can vary depending on your business needs. Hence we provide you with customized pricing models which will exactly suit your requirements
If you wish to consult and converse with one dedicated handler rather than many, we have heard your concerns. Since the person appointed to interact with you is well advised about the project, the updates you need can be availed on tap
Physician Billing Services Software
Pharmaceutical billing involves a mix of functions with various criticality. Since the onus of handling these functions in an efficient manner is on us, we use advanced pharmacy billing software that streamlines the performance with accuracy and finesse. We use the following billing software -
Experienced Team of Pharmacy Billing Experts, and Medical Coders
Flatworld is a pharmacy billing outsourcing company that has been providing various healthcare support services to global clientele for over 16 years and has over 100 years of combined management experience. We have a trained, skilled, and experienced team of pharmacy billing experts capable of handling any of the billing management requirements within a quick turnaround time.
Our team of pharmacy billing experts has access to the best infrastructure in terms of world-class office spaces, uninterrupted network facilities, and state-of-the-art billing tools and technologies. This helps us offer the best services to our clients in faster turnaround and most affordable rates.
Secure Data Sharing
We use some of the most secure methods such as FTP to transfer files. Our team can also remotely log into your system and work on the files if you prefer not sending over the files and want the work done on your own machines
Round the Clock Availability
We assign a dedicated project manager to every client who will keep them updated with the project status regularly. Additionally, they will be available via email, chat, or phone to solve any client queries during your work hours no matter what part of the globe you are in
Client Success Stories
Case Study on Full Service Billing by Using Medisoft
Find out how our team at Flatworld Solutions managed Full Service Billing for a Florida-based customer and brought down their average AR days from 141 to less than 40 days.
Outsource Pharmacy Billing Services to FWS - Leader in Medical Billing & Coding
Your team has been incredibly quick to respond to any concerns. I've had a few issues and they were always dealt with kindly and promptly. The latest request I had was to make sure the turnaround time was optimized, and I've already noted a significant improvement.
Keep up the great work. I hope to expand the number of physicians I use and therefore the number of dictations I send. I also will recommend you any chance I get.
At Flatworld solutions, we understand that no one likes a faulty, lethargic billing system that takes more time than the medical procedure itself. You need a system that automatically calculates and iterates the taxes, discounts, reimbursements, and postings, and we are here to help you customize one. We have always developed systems that have exceeded industry benchmarks.
Right from medical coding to billing, there is nothing that we can't handle. With a creative mix of advanced technology and billing professionals, we develop solutions that help you get all the billings posted automatically and at a reduced turnaround time. We also provide other top services such as medical transcription, revenue cycle management, healthcare claims adjudication, and more.
Contact us to know more about our pharmacy billing services, our executives will be glad to assist you.