page 55 Elevating Financial Strategies Choose the Right Prescription for Financial Success In the quest for a better pharmacy... Join the retail chains, clinics, independents, hospitals, military and institutional pharmacies that have chosen RxSafe to: • increase profitability • improve productivity • eliminate waste, theft and diversion • free up floor space RxSafe is the leader in automated, high-density robotic storage and retrieval of pharmacy stock bottles. You deserve the very best. 1 + 1 + 1 1 technician. 1 pharmacist. 1 bottle at a time. FALL 2014 I Ret ail /Community • Spe cial ty • L TC 7 Script Assist & Compound Assist Pharmacy Software Systems by RS Software Delivering cutting-edge pharmacy software created by pharmacists, for pharmacists. RxSafe 1800™ Robotic Pharmacy Workflow Automation & RxASP 1000™ Adherence Packaging by RxSafe With complete security and confidence, pharmacies can increase profitability, improve productivity, eliminate waste, theft and diversion, and free up floor space with the RxSafe 1800. Download the 20Ways App RXinsider.com/20ways WAY NOTICE OF POLICY 20Ways (ISSN 1533-2258) is published quarterly by RXinsider LTD, 1300 Division Road, Suite 103, West Warwick, RI 02893. Postmaster: Send address changes to 20Ways/RXinsider, 1300 Division Road, Suite 103, West Warwick, RI 02893. Notification of address change must be made six weeks in advance, including old and new address with zip code. Periodical postage is paid in New York. Editorial - views expressed in articles or profiles in the 20Ways are those of the author(s) and do not necessarily reflect the policies and opinions of RXinsider, our editorial board(s), our advisory board(s), or staff. Advertising - products, services and educational institutions advertised in 20Ways do not imply endorsement by RXinsider. Copyright © 2014 RXinsider LTD. All rights reserved. Reproduction without permission is prohibited. Contents page 49 Workers’ Compensation is More Profitable and Easier Than You Think ServRx™ specializes in workers’ compensation pharmacy claims management, offering customized contracts with the most flexible and competitive payment terms in the industry. Serv Workers’ Compensation benefits exhauste d No Returned Phone Calls utilization review letter of denial pre certification claim settled letter of medical necessity ODG adjustersPBMs extent of injury DUR prior authorization date of loss PAPERWORK Entitlement To Benefits peer review denied voice mail wrong form noncompensable no FTEs CASE MANAGERS phone messages exc “lNus”i oLInSsT no-fault NPI Litigated timely filing National Carriers self-insured employers PIP need additional info out of network TPAs copay claim closed wrong carrier SHORTPAY DOI DISPUTED invoice correction fee schedule adjustment Dr. Not Authorized refill too soon invalid ndc DOB not covered reconsideration script reversed bill review bill not received staff time ingredients specific requirements follow-up overtime additional staff needed MORE FOLLOW-UP NEEDED hold time EOB EOR medical necessity jurisdiction regulations IME time-consuming repricing adjudication ODG requirements appeals verbal approval collections follow-up calls verifications statutes injury report exceptions diagnosis non-matched ndc Simplified. chasing payments All Payors, One BIN. Proven and Profitable. page 51 PUBLISHER RXinsider LTD RXinsider CEO: Gregory Cianfarani RPh DESIGN AND PRODUCTION Design & Layout Lora Sosa Multimedia Stefanie Carr SALES AND BUSINESS DEVELOPMENT Vice President, Chris Kolkhorst chris.kolkhorst@rxinsider.com Senior Manager, Shaun Russell shaun.russell@rxinsider.com Manager, Lindsey Kut lindsey.kut@rxinsider.com e-mail sales@rxinsider.com Phone 800.972.2083 Fax 646.329.9766 Website www.RXinsider.com WAY Visit 20Ways Online RXinsider.com/20ways WAY Corporate Tax Deductible Non-Qualified Benefit Plan for the Independent Pharmacy Owner by Stratos Wealth Partners Stratos Wealth Partners’ advanced planning concepts, such as the corporate tax deductible non-qualified benefit plan, allows owners to maximize their income … page 53 WAY 20Ways is an official publication of RXinsider GENERAL SUBSCRIPTION INQUIRIES RXinsider LTD c/o 20Ways 1300 Division Road, Suite 103 West Warwick, RI 02893 20Ways Online: www.RXinsider.com/20Ways General Information: 20Ways@RXinsider.com Circulation: See page 3 Whether your pharmacy is mature, or you’re just opening your doors, we understand the financial opportunities and challenges that you face today. More importantly, we can help you uncover the financial unknowns that lie ahead in your business and in your life. These services include, but are not limited to: - Wealth Preservation - Estate and Asset Protection - Business Succession Planning - Investment Management - Retirement Planning - Risk Management Analysis - Legacy Planning - College Funding Strategies Jeremy Thompson is passionate about his work, and he has built a niche market serving the needs of Independent Pharmacists throughout the United States. His distinct form of financial analysis and solution integration has been designed to be a fit for independent pharmacists seeking to move forward financially on both a personal and professional level. 3750 Park East Drive, Suite 200 Beachwood, OH 44122 Phone: 440.505.5598 | Fax: 440.505.5597 | Toll-free: 866.553.9882 JThompson@StratosWP.com | www.StratosWealthPartners.com Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Stratos Wealth Partners, Ltd., a registered investment advisor and a separate entity from LPL Financial. Call 877.797.2332 today or email info@rxsafe.com. Visit www.rxsafe.com. Distributor
20Ways Fall 2014 Issue: Community - Specialty - LTC
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