Pharmacy Receivables Management
The timely collection of pharmacy receivables can be a challenging problem for a pharmacy chain. Industry research shows that up to 4% of pharmacy claims are not paid at all, while another 1.5% are only partially paid. As reported in Progressive Grocer, ProLogic helps pharmacies improve their receivables management with a comprehensive program that delivers the following benefits:
- Reduces write-offs of uncollectable receivables
- Increases revenue and margin through increased collections
- Reduces aging receivables (improved DSO)
- Reduce denials and short-payments from payers
- Achieves faster reimbursements
- Better reconciles payments with claims, reducing open claims and unapplied cash
- Achieves HIPAA compliance
- Improves predictability of reimbursement patterns using payer business rule database
ProLogic’s solutions for pharmacy chains, grocery store chains, mass merchant chains, and independent pharmacies offer comprehensive receivables and reconciliation management services backed up by robust software to improve cash flow and reduce write-offs and overall costs. We can provide you with a cost-effective solution that more than pays for itself through increased collections.
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