ATLANTA – LexisNexis® Risk Solutions and eRx Network have established a strategic alliance that enables industry-leading prescriber validation solutions to be provided across the pharmacy industry. The alliance uses data from LexisNexis – on more than 8.5 million providers – and the real-time pharmacy network of eRx Network.
As a result of this alliance, pharmacies will be able to perform comprehensive prescription compliance checks in real time with LexisNexis VerifyRx™ within their existing workflow. The solution uses the existing pharmacy connectivity of eRx Network and requires little to no IT integration effort or maintenance by the pharmacy chain.
Top 10 U.S. retail pharmacy chains and many leading Pharmacy Benefit Managers today use the LexisNexis Provider Data Masterfile™ as a compliance mechanism on prescription transactions before they are transmitted for adjudication. Using VerifyRx helps to mitigate the risk of payment recovery and regulatory fines that commonly result from the prescriptive authority, federal licensing, state credentials and controlled substance verification. Specifically, pharmacies are able to verify the following prescriber data within sub-seconds: state license data; state-controlled substance registration data; and state credential-level prescriptive authority. And they can check for state and federal DEA, CMS, OIG sanctions.
“The strategic alliance enables us to respond and deliver a leading, compliance-driven solution to many pharmacy clients while using their existing connectivity,” said Craig Ford, vice president of sales, Pharmacy, LexisNexis Risk Solutions. “By teaming with eRx Network, we make our prescriber verification solution available more broadly to retail pharmacies without disrupting their workflow or increasing their operational costs or development efforts.”
In addition to conducting comprehensive compliance checks with VerifyRx, pharmacies can take advantage of its time-saving, risk mitigation features, such as a custom user interface and reporting tools. Key features include allowing clients to enable checks as a hard stop, set specific start and end times, and tailor configurations using various filters. For audit defense and traceability, VerifyRx can target and report on specific historical transactions using a variety of parameters.
“The strategic alliance with LexisNexis Health Care expands the value we deliver to our customers,” said Richard Brook, senior vice president, eRx Network. “We will help ensure a seamless implementation of the new solution so that our customers continue to experience our highly available and reliable network, while gaining access to the LexisNexis comprehensive prescriber compliance solution.”
To learn more, visit LexisNexis Health Care Aug. 20-22 in San Diego at the NACDS Total Store Expo, booth 1411. eRx Network will be at booth 835.
LexisNexis Risk Solutions health care solutions combine proprietary analytics, science and technology with the industry’s leading sources of provider, member, claims and public records information to improve cost savings, health outcomes, data quality, compliance and exposure to fraud, waste and abuse.
About eRx Network, LLC
eRx Network, LLC, formerly a Change Healthcare company, provides pharmacy claims switching and secure electronic prescription routing solutions that are designed to help retail pharmacies improve operational efficiency, optimize reimbursement and improve pharmacy profitability and customer loyalty. eRx Network, LLC's services also enable providers to cost effectively exchange electronic transactions with retail pharmacies. Learn more at www.erxnetwork.com.
About LexisNexis Risk Solutions
At LexisNexis Risk Solutions, we believe in the power of data and advanced analytics for better risk management. With over 40 years of expertise, we are the trusted data analytics provider for organizations seeking actionable insights to manage risks and improve results while upholding the highest standards for security and privacy. Headquartered in metro Atlanta USA, LexisNexis Risk Solutions serves customers in more than 100 countries and is part of RELX Group, a global provider of information and analytics for professional and business customers across industries. For more information, please visit www.risk.lexisnexis.com.