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:5/30/2016)... ... May 30, 2016 , ... Another ER facility operated ... Plano, located at 3960 Legacy Drive, Plano, TX and is open 24 hours daily. ... Commerce followed by a medical open house. The Jasper High School band entertained attendees ...
(Date:5/29/2016)... (PRWEB) , ... May 29, 2016 , ... Whole Health ... Amazon.com, their new KlipPro KP-240L clipper is available to the public. This is an ... is substantially wider than the average clipper. , Everything about this product is concentrated ...
(Date:5/28/2016)... (PRWEB) , ... May 28, 2016 , ... SuperCloset is ... all too well the day to day issues, struggles and obstacles veterans’ need to ... Helping Veterans Grow Project provides active or retired military veteran(s) with a donated SuperCloset ...
(Date:5/28/2016)... AL (PRWEB) , ... May 28, 2016 , ... May ... US Open Martial Arts Fighting Challenge with theme event of “K Warriors” on June ... Mobile, AL 36608. , The event is sponsored and hosted by Shaolin Institute ...
(Date:5/28/2016)... (PRWEB) , ... May 28, 2016 , ... In a part of the city where’s ... city’s new farm-to-table Kelowna restaurants is hoping to attract diners with a taste ... & Suites officially opened the doors to Cornerstone Grill, an urban casual restaurant focusing ...
Breaking Medicine News(10 mins):
(Date:5/25/2016)... Germany and GERMANTOWN, Maryland ... (NASDAQ: QGEN ; Frankfurt Prime Standard: QIA) today ... co-development agreement with Therawis Diagnostics GmbH to develop and commercialize ... develop and market PITX2 as a marker to predict effectiveness ... cancer patients. "We are pleased to partner with ...
(Date:5/25/2016)... , May 25, 2016 ... Size, Share, Development, Growth and Demand Forecast to 2022 ... Insulin Pump and Others)" published by P&S Market Research, ... $9,998.3 million in 2015, and it is expected to ... on type, the insulin pump segment is expected to ...
(Date:5/25/2016)... Texas , May 25, 2016 ... the issuance to it by the US Patent ... The company,s technology includes proprietary processes for electronic ... for health and wellness programs, HIPAA compliance and ... "Our technology ...
Breaking Medicine Technology: