ST. LOUIS and LOUISVILLE, Ky., Aug. 6, 2020 /PRNewswire/ -- Transaction Data Systems (TDS), the leader in pharmacy management solutions for independent pharmacies, announced that it will work with Waystar, a leading provider of revenue cycle technology to provide claims processing for pharmacists delivering care thanks to new provider status.
As the nation faces both a provider shortage and a pandemic, retail pharmacists can provide patients immediate access to care. Due to their accessibility, Health and Human Services authorized licensed pharmacists to order and administer COVID-19 tests for the patients in their communities. Some analysts project that $200 billion will flow from traditional medical venues to alternative ones such as pharmacies and retail clinics.
"Pharmacists are among those front-line healthcare providers adapting swiftly to changing healthcare needs," states Matt Hawkins, Waystar CEO. "In collaboration with Transaction Data Systems, the market leader in pharmacy information systems, Waystar is enabling streamlined claims processing for pharmacists who are branching into care delivery. With TDS and Waystar's comprehensive technology platform, pharmacists will be well equipped to handle the financial side of delivering care in the evolving healthcare landscape."
Pharmacies are faced with new complexities of claims remittance and claims adjudication due to coronavirus. This partnership between Waystar and TDS provides an end-to-end, efficient process for community pharmacists needing to remit provider level service claims inclusive of those newly related to COVID-19.
"As the most innovative revenue cycle partner, Waystar was the clear choice to provide TDS pharmacists the best in-class revenue cycle technology for care delivery. As an industry thought leader, Waystar sees the care continuum changing with pharmacies becoming a larger player in the care delivery model going forward," states TDS President, Kevin Lathrop. "We are providing our pharmacy clients, as essential caregivers, a unique capability to simplify billing complexities and expand their business model beyond that of only medication dispensing."
Together, Waystar and TDS will provide the most robust pharmacy management solution with integrated revenue cycle management on the market today, allowing pharmacists to support the changing care model.
Waystar provides next-generation, cloud-based technology that simplifies and unifies the healthcare revenue cycle. The Waystar platform removes friction in payment processes, streamlines workflows and improves financials for providers in every care setting. Waystar products have won Best in KLAS® or Category Leader every year since 2010 and earned multiple #1 rankings from Black Book™ surveys since 2012. The Waystar platform supports more than 450,000 providers, 750 health systems and hospitals, and 5,000 payers and health plans. For more information, visit waystar.com or follow @Waystar on Twitter.
ABOUT TRANSACTION DATA SYSTEMS
Transaction Data Systems (TDS) provides pharmacy management solutions and clinical models that adapt to the workflow needs of the largest network of independent and community pharmacists. For over 40 years, TDS has supported the needs of single, multi-site, assisted living and hospital pharmacies through its portfolio of software and services including Rx30, Computer-Rx, Enhanced Medication Services, and PharmAssess. Supporting over 8,000 pharmacists in all 50 states and US territories, TDS is the leading, most trusted provider of independent pharmacy management solutions.