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:
“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.”
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.
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