Cash Management

PDMI offers customized cash management solutions that relieve the headaches associated with managing your own payment processes.

Positive Pay

The benefit of using PDMI for your cash management needs is our positive pay arrangement with our bank. Positive pay allows us to watch for fraudulent checks or checks that are in error.

• If we identify a problem, we can have the check rejected before it clears the bank.
• Our accounting department audits pending checks using the bank’s secure website each business day.
• If we identify a mismatch or discrepancy, we have until 6 PM to retrieve the check in question so it will not clear the bank.
• The register is balanced at the close of each business day.

Pharmacy Payment Options

Our system has the flexibility to accept customized payment requests. The most common options are:

1. Limited Involvement – PDMI cuts checks to pharmacies on the client’s check stock. Under this arrangement, PDMI provides only a printing service and does not handle the dollars associated with funding. The client is responsible for reconciling accounts, answering questions, and balancing the account.
    
2. Pay Cycle – A full-service cash management option. Every two weeks, PDMI invoices the client for the dollar amounts owed to pharmacies. Once we receive funding, PDMI automatically cuts and sends checks to pharmacies. Either all claims from all groups for the two-week period will be released or no claims payments will be released. In addition, clients can pre-fund so payments disburse immediately.
    
3. Off-Cycle – This option offers the latitude to selectively suspend payments for designated clients, enabling individual pharmacies to be paid for all other released claims. For example, a pharmacy may need payment from groups 1, 2, and 3. If group 1 is the only group that supplied funding, you can release group 1 payments but suspend payments for groups 2 and 3. Payments are released bi-weekly.
    
4. Twice Cycle – A full-service cash management option. After the 15th and last day of each month, PDMI invoices the client for the dollar amounts owed to pharmacies. Once we receive funding, PDMI automatically cuts and sends checks to pharmacies. Either all claims for all groups for the specific cut-off period will be released or no claims payments will be released. In addition, clients can pre-fund so payments disburse immediately.
    
5. Weekly Cycle – A full-service cash management option. At the end of each week, PDMI invoices the client for the dollar amounts owed to pharmacies. Once we receive funding, PDMI cuts and sends checks to pharmacies. Either all claims for all groups for the seven-day period will be released or no claims payments will be released. In addition, clients can pre-fund so payments disburse immediately.