99.9 percent collections, 100% claim reconciliations
Our services for retail Pharmacy chains, independent pharmacies, grocery store chains, mass merchant chains deliver comprehensive receivable management and claim reconciliation management backed up by robust software to improve collections and cash flow.
We run and operate all the activities related to pharmacy billing services such as Paper-to-Electronic conversion, RA processing and reconciliation, claim level reconciliation, follow up for payments and reporting.
Our pharmacy receivable management services are supported by AI backed software technology, domain expertise, onsite consultants, back office personnel and proven delivery processes.
400 pharmacy stores including a chain
100% of $1 billion a year was reconciled and 99.9% of adjudicated amount was collected for a Pharmacy chain.
1 million claims processed per month
$1 billion collections per year
Unapplied Cash, DSO, $ collected, Partial Payments, Revenue Reconciliation, Revenue Enhancement
PharmTracker™ and ImageCADE
Standard and custom online reports
Pharmacy Claim and Check/ Remittance Advice reconciliation is key to collecting pharmacy receivables.
By matching each claim with its check, it is possible to follow up with the payor, find the cause for denial and re-submit the claim.
Tranquilmoney offers the services and software to manage this and collect up to 99.9%.
We offer cash flow solutions for Independent pharmacies. Instead of waiting to receive payment from the insurance payor cycle, you can get immediate funding against your Pharmacy claims.
Easy processing, quick cash flows.
Pharmacy Receivable Management software with an AI engine
All pharmacy claims do not match with payments resulting in unapplied cash and open claims. Some claims are paid only partially or not paid at all and this amounts to 15 to 20 percent of the claims. Our software PharmTrackerTM uses artificial intelligence to identify reimbursement discrepancies and do the matching.
Since implementing this solution, we have reduced our bad debts and increased business efficiency. I believe this solution is a highly effective resource. We have found a partner that understands the retailer perspective and the nature of the business
About 3.5% pharmacy claims are lost during payer claim handling processes, decreasing profitability. Recent legal compliance norms mandate accurate revenue reporting. What is the remedy?
Although the difference between stage 1 and stage 2 is quite subtle, a closer look reveals that the latter is only an enhanced version of the former
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