Pharmacy Services Administration Organization (PSAO)
MDSRx PSAO is a highly respected Pharmacy Services Administration Organization (PSAO) which provides effective solutions to assist pharmacy owners in managing the business administration and financial components related to commercial pharmacy claim adjudication.
More than half of America's independent pharmacies hire a PSAO to centralize, streamline and oversee certain administrative functions including PBM contract management and negotiations, accounts receivable collections, and cash management reporting. Contact us today to learn how your pharmacy can benefit by joining the MDSRx PSAO.
Managed Contracting Service
MDSRx managed contracting service encompasses more than 100 contracts. We aggressively negotiate each contract, handle provider enrollment, and perform all necessary maintenance to keep each enrollment active. More comprehensive management of contracts can be provided when combined with MDSRx cash management and claim-by-claim reconciliation services.
We collectively bargain with pharmacy benefit managers (PBMs) to obtain the most favorable contract language for each pharmacy. We also process the claims/billing information on behalf of independent pharmacies. Throughout this process we have benchmarks and monitoring tools in place to ensure compliance with contract terms and to identify any specific claims which are not being processed in compliance with contractual terms.
PBM Contract Management Services include contracts covering prescription drug programs for managed care, commercial insurance, Medicare Part D, long term care, medication therapy management programs, and vaccine programs.
MDSRx provides a professional review of each PBM contract to ensure that pharmacy provider rights are protected while abiding by the professional obligations of each PBM contract.
MDSRx monitors and makes best efforts to ensure timely payments from PBMs relative to their own payment processing cycles.
MDSRx negotiates, modifies, updates, and enrolls individual dispensing locations into our network.
MDSRx can review and evaluate PBM contracts not currently held by MDSRx on your behalf.