May 02, 2019

Transaction Data Systems (TDS) Delivers Smarter Approach to Claim Reconciliation


 
The TDS Reconciliation solution helps pharmacies increase cash flow and save time with an efficient and cost-effective way to track and recover payments from third-party payers

Transaction Data Systems (TDS), parent company of the Rx30 and Computer-Rx pharmacy management systems, has further demonstrated its commitment to independent pharmacies by delivering an innovative solution for third-party claims reconciliation. The latest in a series of services and products designed to deliver crucial support for today's independent pharmacies, this cost-effective and efficient automated claim reconciliation solution helps community pharmacies increase cash flow without sacrificing time or efficiency.  

"I have several pharmacies enrolled in the TDS Reconciliation service, and on a monthly basis, I experience more than a 5-to-1 return on my investment in this program," said a TDS customer.

Claims reconciliation is an everyday reality for independent pharmacy owners. However, many independent pharmacies do not have the resources to track third party reimbursements at the claim level. The result may be loss of revenue due to unpaid claims and missing reimbursement checks from third party payers. Through the TDS Claims Reconciliation service, TDS offers pharmacy owners a state-of-the-art program that electronically reconciles claims to ensure pharmacies are accurately reimbursed from the third party, allowing pharmacies to operate efficiently as businesses while staying focused on providing care to their patients.

"The claims reconciliation process can take hours daily if done manually. We are able to automate this process and track unpaid claims and missing checks," explained Kevin Lathrop, TDS President and Chief Operating Officer. "In addition to tracking payments, we recover any lost or delayed payments on behalf of your pharmacy, helping ensure that cash comes back into the pharmacy. When you are a small business, every dollar counts, which is why I am so excited to offer this innovative solution to our customers."

"I have several pharmacies enrolled in the TDS Reconciliation service, and I have an excellent working relationship with my TDS Reconciliation Account Manager. In addition to efficiency and peace-of-mind, TDS was able to recover almost $40,000 in lost payment from a third party payer for one of my pharmacies! On a monthly basis, I experience more than a 5 to 1 return on my investment in this program," said David Fung, TDS customer.

"Independent and community pharmacies rely on TDS to be a partner in their everyday business. Beyond supporting pharmacies with our industry-leading pharmacy management systems, it is important to us that we help them succeed in every aspect of their business," said Monty Rogers, TDS Chief Strategy Officer and Chief Pharmacist. "Through our Claims Reconciliation services, we bring pharmacies an affordable, impactful, efficient solution that can positively impact not only their finances, but also the day-to-day function of their business." 

To learn more about TDS Reconciliation services, call 888-255-6526 or visit http://www.recon-rx.com/

About Transaction Data Systems (TDS)
For the past 41 years, TDS has been dedicated to the success of independent pharmacy. TDS, with its family of products and services including Rx30, Computer-Rx, Enhanced Medication Services and Pharm Assess RBS, provides pharmacy systems and other innovative technology to the pharmacy industry. Its proven pharmacy management software and its continually growing and evolving products and services offer pharmacies the technology and support they need to succeed in a dynamic marketplace. Proudly supporting the largest install base of independent pharmacies in the industry with systems in all 50 states and the Virgin Islands, TDS is the unquestioned leader in Independent Pharmacy Management Software. For more information about TDS, please visit tdsclinical.com.

CONTACT: 
Cara Sharp, Director of Marketing
800-647-5288
csharp@tdsclinical.com

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