Training

Invoice Overview Training

Wednesday, April 17th, 10am PT
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Join us for a training session designed to demystify the SmithRx invoicing process, helping you understand the various fees, credits, and billing models that impact your healthcare plan’s pharmacy spend. This session is perfect for employers, healthcare providers, and benefits administrators who are navigating the complexities of PBM invoices.

What You'll Learn:

  • Understanding Standard and Connect Admin Fees: Dive into how SmithRx's core service fees are calculated, and what this means for your billing.
  • Decoding Your Invoice: A step-by-step guide to interpreting the "Billing Details" and "Billing Summary" sections of your invoice, including how to spot and understand zero values for certain fees.
  • Channel Fees Explained: Unpack the Channel Fee – a pass-through fee billed on behalf of benefit advisors or client partners – and how it fits into your overall costs.
  • Maximizing Credits: Learn about the types of credits issued by SmithRx, including rebate and overpayment credits, and how they are applied to your invoice to optimize your savings.
  • Optimizing Credit Application: Explore the "rollup" vs. "detail" calculation methods for applying credits and how to select the best option for your organization.
  • Vendor Services Charges: Understand the "Other Charge Breakdown" section, including Vendor Services Charges related to ePayment services, and how to avoid these fees in the future.
  • Invoice Credit Rollforward: Discover why you might see a negative charge and how it can benefit your account in future billing periods.
  • Reversed Claims and Plan Paid Adjustments: Learn why reversed claims result in negative Plan Paid amounts and how this affects your overall spend.

How to Prepare: We recommend gathering any recent SmithRx invoices you have questions about, as there will be a live Q&A session to address specific inquiries.

Other Upcoming Sessions:

  • Tuesday, April 30th 10:30am PT

Speakers

Hosts

Lisa Hyde
Client Trainer, Customer Success, SmithRx

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