9 Strategies to Improve Pharmacy Revenue
The US healthcare is evolving. To improve pharmacy Revenue the pharmacies need to be equipped with a better billing system. Here are some challenges faced by pharmacies that cause billing errors and affect customer relations, revenues, and reimbursements: Access to the patient’s eligibility at the time of service may be unavailable. The staff may not be updated with information about various drugs, allergies, maximum dosage, billing system, rules, codes, and insurance clauses. Claim denials due to unspecified codes put pharmacies at risk. An increase in turn-around time, duplication of work, workforce shortage, and inefficient time and energy utilization of staff members in case of critical cases, could lead to billing errors. Medical billing cannot process vaccine claims covered by pharmacy or medical benefits. The pharmacy billing system is not scalable or flexible. Incorrect CDM could result in underpayment, claims denials, and fines. Incorrect paym...