Articles
8 February 2012

NetDeposit Expands Its Pharmacy Service Offerings

by PR or News Wire

08 February 2012—

 NetDeposit, a leading provider of payment technologies, announced that it has expanded its ProviderPay offering to give pharmacies more choices in the type of payment and reconciliation services best suited to their business. NetDeposit now offers three new pharmacy payments, claims and reconciliation services: ProviderPay Complete, ProviderPay ERA and ProviderPay Remit.

All three solutions are Web-based services that transform the way pharmacies manage their claim and payment data. ProviderPay automates and accelerates many of the tasks required to manage the financial side of a pharmacy, such as reconciling claims to remittances, connecting to and managing electronic payers and compiling key information for pharmacies to use.

  --  ProviderPay Complete is a full-feature pharmacy claims and       reconciliation product that captures and reconciles all third-party       payment information, including all remittance and payment types, such as       paper Explanation of Benefits (EOBs), and checks, as well as Electronic       Remittance Advice files (ERAs) and Electronic Funds Transfers (EFTs).       ProviderPay Complete converts paper EOBs and checks into electronic       files for easy access to this information via online portals and email       reports.    --  ProviderPay ERA receives and reconciles only the electronic remittance       and payment information a pharmacy receives. It is an economical       alternative for pharmacies for which a majority of payers have the       ability to process electronic remittances and payments. ProviderPay ERA       customers receive full payment reconciliation services, including       payment information, 24/7 online access and email reports.   It is ideal       for pharmacies that receive little or no paper-based claims       information.   

--  ProviderPay Remit is an innovative online service that provides a       consolidated receiving point for a pharmacy's ERAs and EFTs.  It takes       the difficulty out of setting up, receiving, reconciling, storing, and       reporting on electronic payments and remittance advices from third-party       payers. NetDeposit works directly with more than 70 payers to receive       electronic remittances on behalf of individual pharmacies. ProviderPay       Remit is the low-cost solution for pharmacies that want the ease of       electronic payment management, but are not interested in payment       reconciliation services. 

"Not all pharmacies have the same needs and requirements when it comes to electronic payment and reconciliation services. Because of this, we have created solutions suited to the individual needs any pharmacy, chain or independent, may have," said Jeff Johnson, general manager of Pharmacy Services at NetDeposit. "With any of NetDeposit's ProviderPay solutions, pharmacies are able to reduce the amount of time spent on banking and payment activities, payer collections and claims data management, enabling them to dedicate more time to serving their customers and building their business. 


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