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Covid-vaccine maker AstraZeneca said Friday that profits fell sharply in the first half on ballooning costs linked to its takeover of US biotech firm Alexion. The pharmaceutical group added that sales of its Covid-19 vaccine Vaxzevria slumped 49 percent in the second quarter. Net profit slumped 64 per cent to $746 million compared with the first six months of last year, AstraZeneca said in a statement. Operating expenses jumped 33 percent, "reflecting the addition of Alexion, and continued investment in new launches and the pipeline" of drugs, the group said. That offset a 48-percent jump in revenue to more than $22 billion. Revenue rose strongly thanks to sales of Alexion medicines. The group said annual revenue from Covid-19 medicines is anticipated to be broadly flat compared with 2021.

Sun Pharmaceutical Industries, India's largest drugmaker by revenue, reported a better-than-expected 5.2 per cent rise in third-quarter profit on Tuesday, driven by higher sales of its specialty drugs. The company, known for its consumer healthcare products such as Revital vitamins and pain relief medicine Volini, said it earned a consolidated net profit of 21.66 billion rupees ($265.23 million) in three months ended Dec. 31, up from 20.59 billion rupees last year. Analysts, on average, had expected the company to report a profit of 21.26 billion rupees, according to Refinitiv IBES data. Total revenue from operations climbed nearly 14 per cent to 112.41 billion rupees. Input costs rose 8.5 per cent. Drug sales in India rose 7.1 per cent to 33.92 billion rupees, whereas sales in the United States climbed 16.6 per cent to 34.66 billion rupees, with each of the two regions accounting for 31 per cent of the company's total consolidated sales. The company, founded in 1983, makes over-the-counter medications, anti-retrovirals and active pharmaceutical ingredients for chronic and acute treatments.

Covid-19 vaccine maker Novavax on Wednesday said it expects revenue this year to be flat or lower as it works to improve its commercial performance and pick up market share from much larger rivals, Pfizer and Moderna. The company posted a larger-than-expected fourth-quarter loss as revenue lagged analysts' estimates. Chief executive John Jacobs said Novavax claimed just a low-single-digit percentage market share in the US during the most recent vaccination campaign, as demand for Covid vaccines was smaller than hoped and the company got its protein-based shot to market later than its messenger RNA-based rivals. "We were disappointed with that US performance," Jacobs said in an interview. He said the company's sales force was not targeted enough toward retail pharmacy chains, and that its 5-dose vials were not as convenient for use as rivals' pre-filled syringes.

Here are ten steps of claims submission via medical billing services to speed up the medical billing and coding process. Take notes and improve your revenue cycle management.

Here are ten steps of claims submission via medical billing services to speed up the medical billing and coding process. Take notes and improve your revenue cycle management.

Pharmaceutical companies AbbVie and Eli Lilly have withdrawn from Britain's voluntary medicines pricing agreement, an industry body said on Monday. Companies are increasingly arguing that it is no longer possible to justify the UK's "voluntary scheme" to global boardrooms and investors as repayment rates in 2023 have surged to 26.5 per cent of revenue, the Association of the British Pharmaceutical Industry (ABPI) said in a statement. "The current scheme has harmed innovation, with costs spiralling out of control, and the UK falling behind other major countries to be left as a global outlier," said Laura Steele, president and general manager for Eli Lilly's Northern Europe division. ABPI said it was seeking early talks with the government to set out a new future settlement. In December, the industry body had said the government raised the amount manufacturers of branded medicines within the voluntary scheme will be required to return to almost £3.3 billion in sales revenue from an earlier amount of £1.8 billion.

The Association of the British Pharmaceutical Industry (ABPI) on Thursday (February 2) called for the government to scrap its plans to raise the repayment rates for drugmakers, to avoid possible setbacks in the sector. Drugmakers that are part of the government's voluntary scheme agreement, which makes branded medicines affordable for people, are required to pay a part of their drug revenue to the government. The Department of Health and Social Care plans to raise the revenue clawback rate to 27.5 per cent from 24.5 per cent. The country's ongoing attempt to raise rates is likely to send the "worst possible signal" to global investors and boardrooms, said the ABPI. "Hiking these clawbacks to such uncompetitive levels risks undermining the UK's offer to global life sciences companies," Richard Torbett, chief executive of the ABPI, said in a statement. Pharmaceuticals giants AbbVie and Eli Lilly withdrew from the UK's voluntary drug pricing agreement in January after the repayment rates surged to 26.5 per cent.

Methodist health system has managed to recover from the pain points of revenue cycle management with automation. Medical billing services and the overall healthcare delivery can improve in return if progressed in the same manner.

It's no secret that as pharmacists we are navigating a new and more demanding healthcare landscape. Our role has changed significantly since the start of the 21st century due to increased expectations from the public, advances in science and technology and changing workforce pressures. The Community Pharmacy Contractual Framework for England has placed a higher focus on clinical service. In addition, the Covid-19 pandemic resulted in significant acceleration in changing how we work day-to-day and the public perception of our role. Community pharmacy owners and staff have been under relentless pressure for the last two years. Dispensing volumes are continually increasing but dispensing revenues are being replaced by launching new services. We must find solutions to reduce the time it takes to dispense medication so we can focus on these new revenue generating services. To not just succeed, but to thrive, it is becoming increasingly important to understand and embrace the technology available.

Anglo-Swedish drugmaker AstraZeneca said on Monday (January 9) that it had struck a deal to buy US-based drug developer CinCor Pharma for up to $1.8 billion to increase its stock of heart and kidney drugs. Core to the deal is CinCor's experimental therapy baxdrostat, which is in development to treat conditions including high blood pressure and chronic kidney disease. AstraZeneca aims to combine baxdrostat with its own Farxiga, a diabetes drug whose sales ballooned after it was also shown to benefit patients with heart failure and kidney disease. Farxiga, whose sales jumped by almost 50 per cent during the first nine months of 2022 to reach $3.2 billion, belongs to a highly competitive class of drugs that includes rivals such as Boehringer Ingelheim and Eli Lilly's Jardiance. AstraZeneca gets about a third of its revenue from cancer drugs, but its heart, kidney and diabetes medicines are its second most lucrative business by sales, generating roughly $6.9 billion of the drugmaker's total revenue of more than $33 billion in the first three quarters of 2022.

Well Pharmacy's parent company, Bestway Group, announced on Wednesday (20 March) that it recorded a five per cent growth in revenues to £4.74 billion for the year ending June 2023, alongside a pre-tax profit of £420.9 million. During the year, the company also completed acquisition of Lexon UK Holdings, a leading pharmaceutical wholesaler serving over 3,000 retail pharmacy customers across the UK and Eire. Furthermore, the Group completed the construction of two cement plants in Pakistan, bringing its total cement manufacturing capacity to 15.3 million tonnes per annum. Sir Anwar Pervez OBE, founder and chairman of Bestway Group, expressed optimism about the new business year and said: "The Group has continued on its growth trajectory in 2023 and we are confident that our businesses will continue to gain share within their respective markets during 2024."

Maintaining the accuracy of claims is tough, especially, when you have to manage the bulk of data at the same time. Therefore, outsourcing billing services to professionals is the best choice to avoid billing inconvenience or financial complexity.

Maintaining the accuracy of claims is tough, especially, when you have to manage the bulk of data at the same time. Therefore, outsourcing billing services to professionals is the best choice to avoid billing inconvenience or financial complexity.

The US healthcare system is made up of complexities. A system in which people with disabilities and above the age of 65 are covered by Medicare and Medicaid programs, clinicians ought to make their financial cycles a priority. When it is the first thing on your to-do lists, medical claims approve at a much faster rate without having to worry about denials.

Revenue cycle management (RCM) is the backbone of the healthcare industry. It manages the finances of the providers and keeps them going on a daily basis. Several organizations involved in the process to make it a success. The role of medical billing services in the US and the front-desk staff is undeniable.

Paydens Pharmacy Group, one of the first multiple pharmacies to adopt hub and spoke model last year, revealed that the move has resulted in significant time savings in store. Centralising dispensing of repeat prescriptions relieves pressure in pharmacy branches and releases time to deliver revenue generating services, the group said. The group created a hub in Maidstone, Kent, to service its highest dispensing branches. The hub uses Centred Solution's FLOWRx Hub Auto to dispense their original pack repeat prescriptions. The group put in the first FLOWRx Hub production line in spring 2022 and then added in a second line in the autumn as they increased production and moved more stores to the hub and spoke model. The innovative solution interfaces with EMIS PMR, Omnicell's Robotic Dispensing System and Universal Logistics Management software as well as Victoria OS ordering software. The hub operation runs during the day Monday to Friday and produces an average of 33,289 packs per week for just under 9,000 patients, leaving plenty of scope to ramp up. The hub is currently dispensing 79.7% of repeat prescription original packs requested by the group's busiest stores.

Boots witnessed a 'record-breaking' performance for beauty driving retail sales with a growth of 16 per cent in the three months to 28 February 2023. The beauty category delivered a record January, and premium beauty saw its biggest ever sales week in December. Skincare reported three consecutive weeks of record sales in December driven by the 'expert skincare' category in which brands including No7, La Roche-Posay, CeraVe and Eucerin proved popular. Boots beauty transformation strategy continued with 19 new beauty halls opened in Q2 and the 170th store to receive a beauty makeover opening at Westfield White City post-period end. Boots now stocks over 500 big name and cult beauty brands and exclusively sells the UK's leading skincare brand, No7. The business reported its eighth consecutive quarter of market share growth with gains across all categories, led by beauty - the stand-out performer of the quarter. Footfall, basket size and the number of Advantage Card customers all increased, as more people chose to shop at Boots. The Christmas period was particularly strong with retail sales in the five weeks to 31 December up 17.4% and outperforming the market. Boots further expanded its value offering in the quarter, announcing its biggest ever savings as part of its continued focus on the affordability of life's essentials. This included the addition of 60 new products to the Boots Everyday label as well as the extension of its Price Advantage scheme, which has to date resulted in £30 million of customer savings and now includes discounts on over 800 products every month.

As a medical billing service, it is our primary duty to look after the revenue cycle management process of physicians on board. We are on a mission to narrate billing obligations in a fashion that is fast and in the direct interest of clinicians. Some of our clients have recorded their detailed feedback on Clutch

If right now you outsource your revenue cycle management, you realize that the performance of your medical billing service provider is central to your medical practice's financial success. Repayment keeps on declining, and the movement towards value-based will keep on jeopardizing your medical revenues if your medical billing company is not working as expected.

Healthcare professionals who used to manage medical bills in-house would understand the difference between in-house and outsourcing medical billing services quite explicitly.

A seamless flow of money is crucial to a medical practice, and it all starts with these two health IT personnel: medical billers and coders. Let's read a bit about them.

Medical billing services hire both professionals to carry out an effective revenue cycle management process on behalf of healthcare providers. Theoretically speaking, both professions require the professionals to read, interpret, and comprehend Electronic Health Records (EHRs) and doctors' notes. Hence, their education in science is a must.

If there is a difference in numbers on documents and accounts, you need to review and check for discrepancies in the revenue cycle management, especially the accounts receivable. Avoid the following four major pitfalls and generate revenue consistently.