Reconciliation is the process of settling a customer’s third-party payment against third-party claims. Claim reconciliation is a major part of managing an independent pharmacy, and PioneerRx offers a complete suite of claim management tools within its pharmacy software system. The software downloads 835 remittance files and processes them overnight, and PioneerRx’s Accounting Specialists handle files that cannot be processed completely because of claim fees, wrong check number, or wrong reconciliation account.
Erich Cushey, owner and Pharmacist-In-Charge at Curtis Pharmacy in Claysville, PA, pays close attention to his reimbursements because they are critical to the pharmacy’s financial success. “A large part of our income is third-party reimbursements,” Erich explains. “The nice thing about PioneerRx was that the Accounting Support team kept track of all the balances as part of that reconciliation. They knew the third party sales, they received the payments, made the adjustments and had a good, clean number at the end of the month.” Businesses like Erich’s can’t afford to leave money on the table, so PioneerRx offers a unique service to ensure pharmacies capture every pending Third Party payment.