PharmTracker™ upgrade released. .NET version released with Crystal Reports released.

12 Jul 2005

PharmTracker™ is Tranquilmoney’s web based solution for pharmacy receivables management. It supports receivables and reconciliation management services for Pharmacy chains, grocery store chains, mass merchant chains, and independent pharmacies. Tranquilmoney manages all aspects of the process including reconciliation of checks with corresponding payment, application of payments to claims, exception processing, AR follow up, etc. and allows pharmacies to view reports online.

The new release has strengthened the product by adding substantial power in search, reporting and analytics, including speed and usability. Some of the new features are:

  • New report added to show Aging and the effect of checks/RAs that are in process. It is now possible to drill down to the tapes that are waiting for checks and then onto the Rx level details of the contents of the tape. The images of the checks that are not yet matched with the RAs can be viewed.
  • All existing reports such as Unapplied Cash and standard Aging report are improved
  • Usability of reports is improved:
    • Sort on any column of any report
    • Search for any data in any report
    • Export to other formats such as Excel, pdf, Word etc.
  • PharmTracker has improved considerably in speed over our current version.
  • Addition of the availability of analytical reports allows users to view data on different dimensions dynamically.

The new features allow a better analysis of the receivables situation and therefore leads to more effective follow up and reduction of days of sales outstanding. Easy access to images and raw data help in research and audit. It helps meet and satisfy SAS 70 audit requirements.

The earliest version of the software was released towards the end of the year 2000 and there have been regular updates and addition of features. This release is a big leap both in terms of the technology involved and usefulness. Over a 1,000,000 claims are processed every month by Tranquilmoney’s Pharmacy Receivables Reconciliationbusiness.