ScripNet Launches - ScripNet Insurance Payment Solutions™ (SNIP) to Address State eBilling Mandates.
Submitted by: ProAmericas Marketing & Media Relations
2011-11-02 00:21:07
Las Vegas, NV (OPENPRESS) November 2, 2011 -- ScripNet, a nationwide pharmacy benefit manager (PBM) that contracts with workers' compensation insurance carriers and pharmacies, has launched a new service to support eBilling of workers' compensation pharmacy bills.
While group health payers were required to convert to electronic bill processing by the Health Insurance Portability and Accountability Act (HIPAA), HIPAA did not impose eBilling requirements on workers' compensation. Seeing the reduction in errors, handling costs and time to process bills gained by group health, state legislatures, starting with Texas and Minnesota in 2009 and California in 2011, have passed laws requiring eBilling for workers' compensation. Now North Carolina and Oregon legislators are moving in that direction and other states are following.
With these developments ScripNet has stepped forward to assist workers' compensation payers, pharmacy providers and occupational health clinics with a fast and efficient way to take advantage of electronic processing of pharmacy claims. ScripNet's Insurance Payment Solutions™ (SNIP) is specifically tailored to pharmacy providers.
Pharmacies can bill, track and collect for workers' compensation prescriptions through ScripNet's SNIP service. Pharmacies can enter bills into the ScripNet Portal and upload all necessary information to ensure the quick, secure and accurate processing of workers' compensation pharmacy bills. Bills are validated and electronically transmitted to the appropriate workers' compensation payer. SNIP is compliant with all National Council for Prescription Drug Programs (NCPDP) requirements, including D.0. The SNIP technology includes a billing and collection service for workers' compensation prescriptions dispensed at retail and closed door pharmacies and is based on nationally mandated eBilling requirements.
"SNIP leverages our core competencies in secure electronic transaction processing and our nationwide point-of-sale pharmacy partner network," said Dennis M. Sponer, CEO of ScripNet. "SNIP is currently being utilized by one of the pharmacy providers in the State of California and is now available to providers in all other states."
SCRIPNET has one of the largest workers' compensation specific pharmacy networks in the industry with over 63,000 pharmacies with access to its point-of-sale electronic adjudication system, including: Costco, CVS, K-Mart, Rite-Aid, Safeway, Sam's Club, Sav-On, Target, Winn Dixie, Vons, Walgreens, Walmart and numerous small independent pharmacies.
About ScripNet
ScripNet is one of the fastest growing pharmacy benefit management (PBM) companies in North America, providing PBM services to over 5,000,000 employees through pharmacies in all 50 states. ScripNet electronically processes prescription drug claims for workers' compensation, which allows insurance carriers, large self-insured companies, municipalities, managed-care organizations, and third-party administrators to participate in better cost control and increased efficiency for pharmacists, and offers more convenience for injured workers. ScripNet offers a drug utilization review program that improves patient care, reduces fraud and abuse, and cuts administrative expense. ScripNet is a three time winner of Inc. Magazine's annual listing of the 500 fastest growing privately held companies in the nation. To learn more, visit www.scripnet.com.
ScripNet Media Contact:
Mark Rieger
ProAmericas Marketing & Public Relations for ScripNet
mrieger@scripnet.com
303.520.4524
