Skip to main content

Insurance Claims &  Pharmacy Management

Estimates suggest that billing and insurance-related costs make up the largest share of the total administrative costs in healthcare. The good news is that the adoption of technological advancements such as data analytics can help healthcare organizations considerably reduce costs.

Insurance claims processing follows a complex workflow that includes several checkpoints such as the patient’s insurance plan, the payer’s guidelines for claim submission, and the provider’s contract with the payer. A customized, well-built insurance claim data can provide better accuracy, improve cost-efficiency and help healthcare providers process claims faster.

$318 billion, that’s the estimated market size of pharmacies and drug stores in the United States in 2020. And as the pharmaceutical industry keeps growing, pharmacists are looking for empowering and user-friendly pharmacy management solutions to increase efficiency and manage workflow. Customized pharmacy management systems simplify the process of medication dispensing, management of inventory, and sales-related processes.

OSP’s team of developers are skilled in pharmacy management software development and build solutions to address specific requirements of the organization and eradicate complexities. Our software systems aim to address operational system complexities and help in the holistic development of the pharmacy for increased revenue generation and streamlined processes.


Comments

Post a Comment

Popular posts from this blog

What is the Medical Coding System & Its Benefits?

What is Medical coding system? The clinical coding software solution is defined as a simplified transformation of diagnosis, clinical procedures, treatments, and instrumentation into ICD-10 writing. This medical encoding is nothing but a translation engine that interprets the information of the clinical procedure into predefined codes. This process is also known as medical coding solutions which do the work of ensuring that the medical codes are applied correctly during the billing process. The data that it consists of the patient’s condition, the doctor’s diagnosis, a prescription, and whatever procedures the doctor or healthcare provider performed on the patient, and turn that into a set of codes. Coding systems in healthcare also permit uniform documentation between medical facilities. The code for the raw throat is the same in Arkansas as it is in Texas. Having similar knowledge allows for efficient analysis that government and health agencies use to trace health trends way more
Post a Comment
Read more

Denial Management in Medical Billing

Denial Management deals with unpaid claims and is considered an essential aspect of revenue cycle management. It can swiftly pinpoint why the shares are being denied to prevent mistakes again. The rising issue of Patient Responsibility is causing more rise in claim denial management . High deductible health plans for the patients who share responsibilities for payments cause more pressure. Value-Based Care denials influence the profitability of Revenue Cycle Management. The rework which is done to the denial claims and appeals hinders the revenue cycle improvement initiatives.
3 comments
Read more

What is Medical Coding System & Its Benefits

What is Medical coding system:- The Medical billing and coding solution is defined as a simplified transformation of diagnosis, clinical procedures, treatments, and instrumentation into ICD-10 writing. This medical encoding is nothing however a translation engine that interprets the clinical procedures information into predefined codes. This process is also known as a Medical coding solutions which does the work of ensuring that the medical codes are applied correctly during the billing process. The data that it consists of the patient’s condition, the doctor’s diagnosis, a prescription, and whatever procedures the doctor or healthcare provider performed on the patient, and turn that into a set of codes Medical coding solutions also permit uniform documentation between medical facilities. The code for the raw throat is the same in Arkansas as it is in Texas. Having similar knowledge allows for efficient analysis, that government and health agencies use to trace health trends way more
Post a Comment
Read more