Posted On: 09/04/2014 8:19:00 AM
Post# of 7769
I posted on a response on ihub to the great one about how main avenue ships rxs and receives payment:
It does not take 20-30 days to ship an order. There aren't issues with manufacturing. It's simple as it may take 2-4 weeks to get reimbursed by commercial insurance companies.
Once a prescription or order is received, the billing dept gets approval from insurance company. The prescriptions are filled by the pharmacists and then immediately sent to the patient.
Approved orders are exactly what the name suggests. Insurance companies have said they will pay for the patient's rx. It's all about waiting for the nice check to be delivered to ScripsAmerica from the commercial insurance company 2-4 weeks out.
Therefore a portion of the revenues may need to be recognized in a subsequent quarter. I didn't receive "several pm's" but it seems like a perspective from someone in the industry was needed.
Just like you, I was also impressed that they were able to do $4.9m in approved orders for the month of August.
It does not take 20-30 days to ship an order. There aren't issues with manufacturing. It's simple as it may take 2-4 weeks to get reimbursed by commercial insurance companies.
Once a prescription or order is received, the billing dept gets approval from insurance company. The prescriptions are filled by the pharmacists and then immediately sent to the patient.
Approved orders are exactly what the name suggests. Insurance companies have said they will pay for the patient's rx. It's all about waiting for the nice check to be delivered to ScripsAmerica from the commercial insurance company 2-4 weeks out.
Therefore a portion of the revenues may need to be recognized in a subsequent quarter. I didn't receive "several pm's" but it seems like a perspective from someone in the industry was needed.
Just like you, I was also impressed that they were able to do $4.9m in approved orders for the month of August.
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