PharmTracker™

PharmTracker™ is Tranquilmoney's solution for pharmacy receivables management.

PharmTracker™ supports our receivables and reconciliation management services for Pharmacy chains, grocery store chains, mass merchant chains, and independent pharmacies.

It is a web based solution to address various aspects of a process including:

  • Reconciliation of checks with corresponding payment
  • Application of payments to claims
  • Exception processing
  • Reporting
  • Compliance with laws

Pharmacy clients get the flexibility to see data and reports online. The back office is provided the necessary functionality and workflow to perform the reconciliation and receivables follow up process.

features

Import:. Claims can be imported from electronic files or from ImageCADE™ after data capture.

Processing: matching claims with payments, applying reversals of claims and payments, processing of fees and adjustments based on payer specific rules, matching checks with RAs, research and follow up on mismatches.

Auto reconciliation: This module matches checks with RAs.

Auto-match: Claims and payments are matched on key fields

Interactive match: The software assists the research team in manual matching (Checks and Claims) based on configurable rules.

Reporting: PharmTracker™ has standard reporting features that display professional reports that can be printed, saved as PDF, Excel etc. There are summary reports with drill down facility on a summary number to several levels. There are options to do a dynamic sort on any of the fields at the first level. Some of the reports generated are Aging Report, Aging analysis, Aging by month, Unapplied payments, Complete payments, Partial payments, Over payments, RAs without checks, Checks without RAs, Batch status.

Analytics: PharmTracker™ has a data warehouse implemented using MS Analytical Services.

Search: Pharmacy clients can search on Checks, Payments, Claims, or Files. The fields on which the search can be done as well as the columns to display in the search results are configurable.

Storage: PharmTracker™ stores all source files - EDI 835, images and claim - in a folder structure ordered on payer and date. These files are available for download to the user.

Output file: Output for the client includes a list of all records that are new or modified, in the format specified by them.

Benefits

  • Web-based Pharmacy Receivables Reconciliationsystem accessible by client anytime
  • Integrates with electronic switch data OR data feeds from POS systems including Condor, TechRx, PDX, QS1, Renlar, MPS, etc.
  • High end functionality: expert systems identify rules used by each payer for each retail pharmacy client
  • Implements Deming's principles of workflow management and accountability

Technology

  • PharmTracker™ comprises TelePost and the reporting module.
  • TelePost: VB as the front end and SQL Server at the back end. Stored Procedures convert the processed data into the reporting schema.
  • The tracking and reporting module is implemented as a three tiered application.

Key Facts

Audit and Contract management features in PharmTracker