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Four Types of Pharmacy Management Software Add-Ons and how they can Transform Your Pharmacy
Independent pharmacies can take advantage of technology add-ons to fill in gaps and gain the same benefits as large chains.
Fremont, CA: Pharmacy technology is enabling pharmacists to work more efficiently, provide better patient care, and grow their businesses.
Nevertheless, some pharmacists have yet to realize the value of embracing technology and enhancing their pharmacy management system (PMS) with game-changing add-ons. These are some of the key ways pharmacy management system add-ons can transform your pharmacy business.
Independent pharmacies can take advantage of technology add-ons to fill in gaps and gain the same benefits as large chains. Here are some types of pharmacy technology add-ons:
Patient Management Add-Ons
With pharmacy patient management add-ons, independent pharmacists can provide a wide range of health and wellness services, from flu shots and other immunizations to diagnostic screenings, DME sales, and diabetes prevention and management. Furthermore, patient management add-ons provide independent pharmacists with opportunities to improve their U.S. centers for Medicare & Medicaid Services (CMS) star ratings and medication adherence rates using targeted alerts to intervene when necessary.
Medical Billing Add-Ons
The use of medical billing software streamlines the reimbursement process for pharmacy management systems. With this type of add-on, independent pharmacists can work more efficiently and reduce manual, error-prone processes that lead to higher claim denials. In this way, pharmacists can optimize their medical reimbursements by providing timely and accurate information related to clinical care and durable medical equipment to improve the pharmacy's cash flow and increase revenue.
Claims Reconciliation Add-Ons
Claims reconciliation add-ons make it easier for independent pharmacists to track third-party payments and identify outstanding receivables. With technology to guide the process, pharmacists can reduce the time between receiving payments and removing claims. It enables them to quickly and easily identify slow-paying third parties and missing and unreconciled claims. Essentially, this means you won't have to leave reimbursements on the table or suffer the revenue drain that comes with it.
Business Intelligence Add-Ons
The use of business intelligence add-ons helps independent pharmacists identify opportunities to improve their financial, clinical, and operational performance. These modern additions offer numerous reports on key pharmacy metrics, such as on-time refills, missed patients, drugs sold at a loss, open claims, and adherence ratings. The customized daily, weekly, and monthly reporting provides a snapshot of a pharmacy's performance, both from a revenue and patient care perspective.