Like most other pharmacy groups in England, Paydens found it difficult to have full transparency of their dispensing business, especially around electronic prescribing. A data audit by Real World Analytics (RWA) revealed that the value of expired, unclaimed EPS scripts was amounting to losses of £10,500 per month across their 105 branch estate.
Each pharmacy now receives a KPI and exception report every Tuesday which shows their outstanding EPSR2 scripts that are more than three months old as well as those about to expire. Each pharmacy reviews the reports and either submits the claim, or, returns it to the spine.
Paydens area managers receive a summary report each month and the head office team are able to monitor and deal with any issues very efficiently. Since implementing RWA Paydens have seen the value of expired EPS scripts fall by over 80% - a saving of almost £1,000 per pharmacy per year. Over the last 12 months, as the RWA functionality has grown and evolved the system now also reports on CD lines which only have 28 days to be claimed.
This further removes the potential for unseen losses as a result of poor housekeeping in branch. Lastly, RWA also provides a month-end view showing which branches are not claiming their EPS in time for the month-end cut off. By reviewing this Paydens has been able to bring forward their EPS claims resulting in significant benefits to the company cash-flow.
A profit & cash gain of £84,000 per annum from expiring scripts.
A cash gain of £350,000 from better claim cut-offs.
"RWA provides an invaluable service to our company, helping ensure that any money that we are entitled to as a result of our pharmacy team’s effort is fully claimed for and paid. The expired unclaimed script solution above is just one of the many ways that the RWA service has given us complete transparency of our business."
- Alexander Pay, Paydens Pharmacy Group
Paydens Group is an independent family owned company established in 1969. They operate pharmacies across the South-East of England, with their Head Office based in Maidstone, Kent.
Paydens welcomes the new age of pharmacy that is evolving. They approach the challenges of developing the pharmacy role within the local community with enthusiasm and firmly believe in serving community healthcare needs with commitment and a professional attitude.
Paydens now have full transparency of all their business drivers at Director, Area Coordinator and Branch level. This transparency has resulted in the previous unclaimed scripts issue being resolved, a potential problem with CD claims being nipped in the bud and a cash gain by improving claim cut-offs at each pharmacy.