Pharmacy Contract Management System© (PCMS) is a customized database program that allows healthcare systems to manage their drug expenditures in an informed, prospective manner. The software integrates the wholesaler's data with the site-specific and GPO (Group Purchasing Organizations) data to form a repository of all contract and purchasing information.
Managing off-contract purchases for potential reimbursement, ensuring the absolute best price and monitoring contract expiration dates are all very important tasks that often go over-looked. The PCMS© is designed to monitor all of these items and includes a series of reports, including Market Share reports designed to ensure the institution is obtaining the best tier price available.
One of the key features of the PCMS© software is the ability to monitor on a daily basis the wholesaler invoice against a contracted price. It generates a daily report listing the invoice discrepancies that can be forwarded to the wholesaler representative for immediate resolution. Additionally, the system is designed to identify 'discontinued' items the day they are flagged by the wholesaler instead of waiting until the next order is placed for that drug.
Federal & State Agencies have been aggressively attacking fraud throughout the U.S. A major part of this effort is identifying those institutions that are submitting claims for items or drugs that are not being dispensed. This software can be customized to each individual institution to ensure pharmacy and financial systems are in sync with purchases, virtually eliminating the risk of this type of fraud.
PCMS© can be customized to allow the importation of a file from the pharmacy system formulary database to compare and report product selection and price discrepancies. This is important in maximizing patient billing, drug expense tracking, Point-of-Care verification systems and optimizing reimbursement efforts.
The PCMS© removes many of the labor-intensive, error prone tasks from the daily workflow by automating those tasks. The software allows those resources to better manage other aspects of the business mentioned above in a much more proactive manner, maximizing the institution's bottom line while greatly enhancing compliance measures.
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