Pharmacists sometimes have hundreds of prescriptions to fill each day. They need to move quickly and efficiently to get it all done, while still considering the health and wellbeing of their patients.

In a fast-paced pharmacy environment, good billing practices, pharmacy claims management processes, and operational habits can sometimes be overlooked, jeopardizing the financial health of your business.

Here are the top 6 things you should do to help you receive optimal prescription reimbursement from third-party payers and pharmacy benefit managers (PBMs).

1. Update the Average Wholesale Price (AWP) in your dispensing system regularly.
Contact your dispensing system vendor to find out how frequently the AWP updates occur. If your dispensing system is updated less than daily, there could be a gap between when an AWP is increased by the manufacturer and when your software is updated. Submitting a lower than eligible AWP during claims adjudication could result in lost reimbursement revenue and reduced pharmacy profitability. Read More >