Related Readings:
More Than Just a Payment System
An Update on Our Rx Adjudication Project Efforts
Rx Adjudication Volumes: Up, Up and Away
The Virtuous Spiral and PCI Split: Final Diagrams
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Time for another quick look-in at our flagship switch location. Last time I tallied up a week for review, we were nearing 32 million transactions over a seven-day stretch. Now, we're a full one-third beyond that watermark. Here's the tale of the tape:
[The xlsx file file can be retrieved here.]
As noted here, that's 2.2 billion transactions over a year. We expect these numbers reflect the 'new reality' there for us, not just a surge.
A quick summary of the three implementations:
- Financial [PCI] - This one does traditional payment switch applications (Online Debit, Credit + Signature Debit, Stored Value, Flexible Spending, Health Care Savings and Electronic Check Acceptance)
- Financial [NOP] - The non-PCI split-off of the financial implementation does MethCheck, Authorized Returns, and a full-blown loyalty program (including market basket analysis and real-time offer engine integration)
- Rx Adjudication - A real-time engine we've built to help this customer's pharmacists make a "determination of the insurer's payment or financial responsibility." [This Rx implementation will soon be expanded to include 'local edit' (a.k.a., 'pre-edit') functionality.]
Three factors have lead to the growth vs. my previous post in mid-August of this year:
- Rx Rollout is Complete - We're now at 100% of 'Phase 2' of our Rx rollout (see our three phase project described here).
- Traction on Loyalty - I've not spoken much about our Loyalty project efforts on these pages because we're standing coyly behind the hedges on that front; but we've spend a fair amount of the last year+ on that project. Now, patience and learning has paid off and volume has sprouted some serious wings.
- Holiday! - We witnessed the annual rush to the stores over the days leading up to Halloween.
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