If a patient has a prescription card, doesn it make financial sense to be reimbursed by the insurance company?
No. Most if not all of the drugs in a dispensing program are generic drugs and you will be better off taking the cash from the patient. We suggest taking whatever the generic co-pay is on the card which today is around $15.00. If you were to turn in the drug for reimbursement, you would be paid significantly less. Prescription drug card programs limit the profit to around a $2 – $3 dispensing fee just like a retail pharmacy. Prescription drug card programs often maintain a database of the physician’s prescribing habits which can be sold to insurers and drug manufacturers. There is also extra effort to adjudicate a claim in order to get paid. It could take weeks or even months to see a dime.
No. Most if not all of the drugs in a dispensing program are generic drugs and the physician is always better off taking the cash from the patient. We suggest taking whatever the generic copay is on the card which today is around $15.00. If the physician were to turn in the drug for reimbursement, he would be paid significantly less. Prescription drug card programs limits the profit to around a $2 – $3 dispensing fee just like a retail pharmacy. Prescription drug card programs often maintain a database of the physician’s prescribing habits which can be sold to insurers and drug manufacturers. There is also extra effort to adjudicate a claim in order to get paid. It could takes weeks or even months to see a dime.
Related Questions
- How does a patient get reimbursed from their insurance company? Does such reimbursement include the cost of labs, radiology and specialists?
- If a patient has a prescription card, doesn it make financial sense to be reimbursed by the insurance company?
- How does a patient get reimbursed from their insurance company?
