Satori Solutions Inc released a second module as part of Pharmacy Reimbursement
Management tool (PReM), in a collaborative effort with Amruta, Inc., an Explainable AI and Data Science IT platform and services company. The new module is called PharmacyProfitability. It complements the first module, ChargeReviewer, released on April 22, 2020.
PharmacyProfitability identifies pharmacy profits and losses by focusing on actual reimbursement compared to the purchase cost. The data provides an analysis of profits and losses, based on ingredient cost, by specific NDC codes as well as actual profits and losses by payer. Pharmacies can also trend profits and losses by NDC code. The reporting allows pharmacists to identify opportunities to improve profitability by focusing on supplier costs and reimbursement trends. The tool also provides profit/loss analysis reports by provider location, BIN (health insurance provider), and PCN (claims routing).