FDS Introduces New Comprehensive Medical Billing Solution, Provides New Revenue Opportunities for Community Pharmacies
FORT WORTH, Texas, Nov. 12, 2019 (GLOBE NEWSWIRE) -- FDS, Inc., the leading provider of population health and financial analytics for community pharmacies, recently announced the launch of FDS MedBill, an affordable and comprehensive medical billing solution. FDS MedBill opens a new revenue stream for independent pharmacies. It enables and optimizes reimbursements for any medical services they provide, including durable medical equipment, supplies, diabetes management, diagnostic testing, and more.
FDS MedBill simplifies the complex process often associated with claims paid under medical benefits. It also provides seamless management of billing for Medicare, Medicaid, commercial, and private insurers. FDS MedBill offers electronic eligibility verification, ensuring that their patients have insurance coverage before services are rendered. The solution also tracks refills and rentals, as well as secondary and held claims. To make implementation as easy as possible, it also integrates directly with the leading pharmacy management systems.
FDS MedBill allows pharmacists to bill for all types of patient care services, including but not limited to:
-- Flu shots and other immunizations -- Supplies and medical equipment -- Oral anti-cancer, immunosuppressive, and respiratory drugs -- Diabetes self-management training -- Diabetes prevention programs -- Transitional care management -- Biometric screening -- Smoking cessation -- Medical nutrition therapy -- Diagnostic testing, including UTI, influenza, and strep
“Offering and being properly compensated for Medical Services is an important element in the playbook as Pharmacies transition their business model to become a New Era Pharmacy.” said FDS CEO Adam McMullin. “As pharmacies make this transition, some pharmacies are now seeing 20 – 25% of their revenue coming from sources other than traditional dispensing and they are becoming closer to their customers. It’s not easy to identify the right services, add those services, and manage the billing and reimbursement steps while also providing the care patients deserve. FDS MedBill empowers community pharmacies to do just that.”
“The future of pharmacy goes beyond filling and billing,” said McMullin. “We want to help community pharmacies get paid for every service they offer their patients.”
In the 2019 NCPA Digest, NCPA CEO B. Douglas Hoey addresses why changing the pharmacy payment model is vitally important: “Pharmacists must be recognized for the services they provide to help lower health care costs and improve quality of care,” he said. Hoey believes the payment model should and will evolve from an overly complicated one that hinders value-based compensation to a simple, fair model that facilitates (and compensates for) value-based care.
“Independent pharmacies are at the forefront of this evolution,” adds Hoey, “adapting and thriving under the new model by improving the health of their patients and the communities they serve.”
About FDS, Inc.
FDS strengthens the health of pharmacies and their patients. We empower community pharmacies to build the clinically-focused New Era Pharmacy, enabling their business to thrive now and successfully transition to a provider of community and population health through data, insights, purpose-built technology solutions, and clinical services enablement. More about FDS at fdsrx.com.
Kendall Hatch 978-457-5336 Kendall@scratchmm.com