Navigation Links
TransactRx Files Patent Application for Cross Benefit Clearinghouse Services
Date:11/26/2013

Coral Gables FL (PRWEB) November 26, 2013

TransactRx, the nation’s leading Medicare Part D Vaccine Physician Billing Service, announced today the filing of the first of what is expected to be a series of patent applications for technology components of its Cross Benefit Clearinghouse™. The patent application titled a ‘SYSTEM AND METHOD FOR MEDICAL BILLING SYSTEMS TO SUBMIT TRANSACTIONS FOR SERVICES COVERED UNDER PHARMACY BENEFITS’ covers one subset of functionality included in the overall set of technology and functionality in the Cross Benefit Clearinghouse™.

The patent covers a set of functionality related to medical billing and other systems based on X12 transaction standards that provides the capability to exchange transactions with pharmacy benefit managers and other entities whose systems are based on the NCPDP transaction standard. The functionality included in the patent application includes:

  •     Cross Benefit Eligibility – The ability for medical billing systems using their standard medical benefit eligibility module to determine a patient’s pharmacy benefit eligibility.
  •     Cross Benefit Coverage Predetermination – The ability for a medical provider to determine a patient’s financial responsibility for a particular drug product under their pharmacy benefit using their standard medical benefit eligibility module.
  •     Cross Benefit Real-time Claims Processing – The ability for a medical billing system to submit an X12 based claim transaction in real time which will be processed by the patient’s pharmacy benefit manager and in real time provide a claim response to the medical provider.
  •     Cross Benefit Batch Claims Submission – The ability for a medical billing system to submit batches of X12 based claims in their normal workflow which are then submitted as NCPDP real-time pharmacy claims to the appropriate pharmacy benefit manager.
  •     Cross Benefit Electronic Remittance Advice Processing – The ability to receive electronic remittance advice transactions from pharmacy benefit managers and convert them to be able to be applied against claims submitted from medical claims systems.

“As we look forward at the activities in the healthcare marketplace there is an increasing blurring of lines between the types of services offered by medical and pharmacy providers and the products and services covered by medical and pharmacy benefits,” says Jack Guinan, CEO of TransactRx. “We see our Cross Benefit Clearinghouse™ technology playing a key role in deploying new models of service distribution and benefit design.”

ABOUT TRANSACTRX

POC Network Technologies, Inc. d.b.a. TransactRx is a leading national provider of reimbursement solutions for vaccines and specialty pharmaceutical products administered at the point-of-care. The TransactRx proprietary technology platform seamlessly connects the nation’s pharmacy and medical transaction infrastructures to enable physicians, public health departments and pharmacies to check coverage information and submit claims for both medical and pharmacy benefits. The Company’s unique national provider networks significantly reduce the cost and effort associated with contracting a large numbers of providers to administer a particular vaccine or group of pharmaceutical products. The combination of technology and provider networks assists payers of all types including Medicare, Medicaid, Commercial and Self-Funded Employer plans.

To learn more, please visit http://www.transactrx.com/cross-benefit-clearinghouse.

Read the full story at http://www.prweb.com/releases/transactrx-cross-benefit/clearinghouse-services/prweb11368287.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. TransactRx Announces New Partnership with GPO MPPG
2. TransactRx Releases Part 1 of Series – Buying Vaccines from Group Purchasing Organizations
3. TransactRx Pharmacy Vaccine Billing Provider Partners with R.J. Hedges & Associates
4. Macrocycles: Discovery and Development, Company Profiles, and Technologies
5. TraceLink Files Patent Reexamination Petition on Unisone Patent with United States Patent and Trademark Office
6. Emerging Drug Delivery Technologies, Profiles of Start-ups and Early-Stage Companies
7. Demas Law Group Files Claim Against Townsend and Costco in Frozen Berries Case
8. The Federal Trade Commission Files Lawsuit Seeking an Injunction Against Marketer of Weight-loss Products Over Alleged False Advertising, Parker Waichman LLP Reports
9. New with Dokmee Cloud, One's Files Will Never be Dropped or Boxed
10. New Mexico Woman Alleges Mirena IUD Perforated Her Uterus; Parker Waichman LLP Files Lawsuit
11. Marler Clark files Third Hepatitis A-Related Lawsuit Against Townsend Farms
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... Many families ... However, many long-term care insurance companies have a waiver for care if the client ... elimination period, when the family pays for care, is often waived, so the benefits ...
(Date:10/13/2017)... ... ... Global Healthcare Management’s 4th Annual Kids Fun Run brought out many kids ... sponsored by Global Healthcare Management’s CEO, Jon Letko, is aimed at getting kids excited ... all ages; it is a non-competitive, non-timed event, which is all about having fun ...
(Date:10/13/2017)... Fairfax, VA (PRWEB) , ... October 13, 2017 ... ... provider of DevOps and Agile Software Development, has been awarded a contract by ... (EATS) Blanket Purchase Agreement (BPA) aims to accelerate the enterprise use of Agile ...
(Date:10/12/2017)... WILMINGTON, Del. (PRWEB) , ... October 12, 2017 ... ... technology and advisory services for healthcare compliance program management, will showcase a range ... and National Association for Assisted Living (NCAL) Convention and Expo to be held ...
(Date:10/12/2017)... WAUSAU, Wis. (PRWEB) , ... October 12, 2017 ... ... formulated standard products to meet the demand of today’s consumer and regulatory authorities ... team of probiotic experts and tested to meet the highest standard. , ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... , Oct. 2, 2017 The Rebound mobile app ... struggle to reverse the tide of prescription drug addiction. The ... their medicine intake and stepping down their dosage in a ... launch in December 2017; the first 100,000 people to sign ... at http://www.rebound-solution.com/ ...
(Date:9/25/2017)...   Montrium , an industry leader in ... IQPC Trial Master Files & Inspection Readiness Conference ... Clinical Services has selected eTMF Connect ... EastHORN, a leading European contract research organization (CRO), ... to enable greater collaboration with sponsors, improve compliance ...
(Date:9/19/2017)... venture-backed medical device company developing a non-invasive, robotically assisted, platform therapy that uses pulsed sound ... ... Jim Bertolina, PhD ... Tom Tefft ... device executive Josh Stopek , PhD, who has led R&D and business development teams ...
Breaking Medicine Technology: