LibraRx Standard Reconciliation
The LibraRx Standard Reconciliation Program offers independent pharmacy "transaction level" reconciliation and provides
reimbursement audits similar to those the chain pharmacies have employed since 1996. LibraRx compares data received
from the pharmacy's switched data (paid claims response) to electronic remittance advice submitted by third party payers.
LibraRx supports reconciliation with all third party payers that offer electronic claims remittance.
To participate in the LibraRx Standard Reconciliation Program, your pharmacy should enroll in the Third Party Station chain
network (code #866). For more information, please contact us toll-free at: (800) 460-1575 - Option #3.
LibraRx Standard Reconciliation simplifies your payment process; you'll receive remittance advice and payment from one
source - Third Party Station.
Here's what you can expect from our Third Party Claims Reconciliation:
- Accurate reimbursement from contracted third party payers.
- Daily Reports identifying those third party payers that have not reimbursed 100% of the owed amount.
- Central payment and reconciliation for participating pharmacies on third party payers.
- Fast payment via electronic funds transfers rather than mailed checks.
- Easy access to web-based remittance advice reports, aging summaries and deposits.
The return on investment for participating in the LibraRx Standard Reconciliation program can be significant, and it is clearly
started on our reports. It is not our intent to overwhelm our pharmacy participants with data. Once your pharmacy signs up
with our program you will be assigned a unique log-in and password that you can use to access your pharmacy's specific
reports.
DEPOSIT - Provides your deposit history and the claim counts posted for each payer over the last 90 days. You can drill down
to the claim level on this report as well.
AGING - Claims identified on this report are the claims captured from the switch that were not paid in the full amount agreed
to by the third party payer. While PARTIAL PAY claims tend to be small, these claims collectively can result in substantial
amounts over time. Its a good practice to examine the cause of PARTIAL PAY to rule out improper charges such as
unauthorized transaction fees or improper network discount reimbursements. This report tracks these claims 0 to 30 days
(current) and then at 31-60, 61-90, 91-120 and over 120 day increments. You can drill down to the claim level detail to
examine individual claims that have not been paid.
Questions? call 888-800-3784, Ext.193
Success Stories!
Third Party Station’s reconciliation program identifies claims that were considered lost, late or were paid incorrectly.
We work with the payer to recover these funds on behalf of our member pharmacies and deposit the money directly into their bank accounts.
Below is what we have recovered on behalf of our member pharmacies.
- 2011 our reconciliation program recovered $19,115,138.31