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Related Experiment Videos

Improving revenue collection for ambulatory pharmaceutical services

B A Boucher, D M Metzler, H Baxter

    American Journal of Hospital Pharmacy
    |April 1, 1982
    PubMed
    Summary

    Implementing a pharmacy cash-and-carry policy significantly boosted revenue collection for outpatient pharmaceutical services. This method improved collection efficiency with minimal additional processing time.

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    Area of Science:

    • Health Services Research
    • Pharmaceutical Economics

    Background:

    • Revenue collection for ambulatory pharmaceutical services presents challenges.
    • Traditional billing methods may lead to suboptimal financial returns.

    Purpose of the Study:

    • To evaluate the impact of a pharmacy-based cash-and-carry policy on revenue collection for outpatient pharmaceutical services.
    • To compare collection rates and efficiency before and after policy implementation.

    Main Methods:

    • A comparative study design was employed, analyzing two phases of outpatient pharmaceutical service billing.
    • Phase 1: Business office billed all charges. Phase 2: Pharmacy implemented a cash-and-carry policy, encouraging direct patient payment and direct third-party billing.
    • Random samples of 1000 prescriptions from each phase were analyzed for charges collected.

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    Main Results:

    • Revenue collection increased from 46% in Phase 1 to 85% in Phase 2.
    • The total charges collected remained comparable ($895,812 in Phase 1 vs. $892,185 in Phase 2), but the collection rate dramatically improved.
    • Prescription processing time increased by an average of 1.5 minutes in Phase 2.
    • Medicaid and maintenance medication patients showed the highest collection rates, while Medicare and emergency services patients had the lowest.

    Conclusions:

    • A pharmacy-based cash-and-carry policy significantly enhances revenue collection for outpatient pharmaceutical services.
    • The policy improves the efficiency of the revenue collection process.
    • Specific patient populations (e.g., Medicaid, maintenance medication) benefit most from this policy.