PRISM
RelayHealth also offers a non-funded pharmacy receivables solution called PRISM*.
PRISM Spectrum’s suite of financial back-office services help pharmacies solve the challenges of aggressive pricing competition, aging dispensing and reconciliation systems, Medicare prescription drug coverage and evolving PBM contract options. Hundreds of users easily access all of their third party pharmacy information over the Web every day. PRISM Spectrum is presented in an exception-oriented and workflow-based tool. When using PRISM, clients collect more from reducing aging and write offs, add to the bottom line with better management information for operations and contracts, lower A/R management costs and improve accounting with comprehensive reporting, auditing and liability tracking.
PRISM handles all core receivables' functions:
- Accepts claims from any data source with tools to manage through dispensing system changes
- Pulls deposit data directly from your bank
- Averages 90% electronic remittance from more than 100 Carriers
- Has experience with 45 state Medicaids
- Provides detail at the claim level, transaction history, notes, tags and split-bill relationships
- Finds missing checks and has Carrier reissue
- Users are able to perform write offs and reclassify cash
- Access to benchmark data such as service fees, DSO, number of carriers, exceptions, unapplied cash, tolerances, write offs and found money
- Provides collection tools to customers and collection services on their behalf
- Provides comprehensive accounting reports and GL entries
- Delivers periodic business reviews to help clients improve their pharmacy operations
- Delivers carrier management tools to the pharmacy business office to improve reimbursement rates and contracts
*PRISM is an offering of Carolina Services Corporation.
