Independent physicians empowered with freedom to compare financial performance to peers & freedom to connect to the increasing number of disparate healthcare systems
MGMA15 Booth #1419 – AdvancedMD, the pioneer in cloud technology for physician practices, today announced two new technologies as part of an increasingly-broad array of solutions that extend the effectiveness of the company’s core practice management and EHR software, giving physicians freedom to practice with improved operational performance and patient engagement. AdvancedBenchmarking gives independent physician practices access to powerful, enterprise-level business performance information to assess financial performance against peers using industry-standard definitions. AdvancedExchange is a new tool aimed at connecting all health information systems together within and across AdvancedMD.
To further continue its support and innovation for smaller private practices, AdvancedMD recently announced AdvancedMobileDoc, an iOS app that gives access to complete practice data from the iPad and iPhone including schedules, histories, charge capture, charting, prescribing, and staff and patient messaging. Also recently released isAdvancedPatient, a patient engagement platform that lets practices improve clinical efficiency and quality of care while streamlining the patient check-in process.
Similar to big data capabilities that have only been available to hospitals and large practices that can spend tens of thousands of dollars deploying financial analysis onsite, AdvancedBenchmarking can bridge the gap for the financial health and management of independent and smaller practices.
“Private physicians seeking to compare their practice performance to their peers have found survey-based information on financial KPIs suspect,” said Raul Villar, CEO, AdvancedMD. “AdvancedBenchmarking provides actual aggregate financial performance data by specialty and geography so practices know with precision how they stack up, driving continuous improvement that can increase productivity, enhance services to patients, and ensure high financial performance.”
AdvancedBenchmarking builds on the business information access made possible by AdvancedInsight, a reporting suite that provides a 360-degree view of a practice’s financial performance. This new business intelligence tool lets physicians view their valuable productivity metrics such as Total Relative Value Units, the value assigned to each CPT (Current Procedure Terminology) code, so practices can compare providers and reimbursements. AdvancedBenchmarking tracks coding and claims efficiency, encounters per day, revenue and revenue cycle efficiency with drilldowns by state, region or nation and by specialty and practice size.
With new ICD-10 codes, Meaningful Use and other mandated regulations, practices are finding this information is critical for compliance and to opening doors to new financial opportunities.
AdvancedExchange allows independent practices to easily and affordably connect to the rapidly evolving electronic healthcare environment including hospitals, HIEs, labs, and practice-specific applications.
“AdvancedExchange leverages our technology and expertise using leading interoperability standards such as HL7, X12, FHIR, and NCPDP,” commented Villar. “What makes it so remarkable is that practices can send and receive critical healthcare data using AdvancedMD as the hub in a way that is simple and economical for even the smallest practice with the smallest budgets.”
AdvancedExchange users enjoy custom interfaces that reform complex manual steps into easy-to-manage data automation, saving clients time and money.
Additional tools being spotlighted at MGMA15 include:
- AdvancedPatient – A patient engagement suite that lets practices improve patient communications and manage patient population health. From one screen, users can view appointments, patient photos and demographic information; search for patients; add new patients; edit information; scan insurance cards and driver’s licenses; and assign forms to a patient for completion at an iPad kiosk.
- AdvancedMobileDoc – A full point-of-care solution that makes data from the office accessible on an iPad and iPhone. The new solution includes such features as: EHR charting, eprescribing, labs and orders, scheduling, charge capture, patient and medication histories, messaging, documents and images and a review bin. AdvancedMobileDoc allows doctors to more efficiently service their patients wherever they are located.
AdvancedMD will be showing its platform to support independent physicians, including AdvancedBenchmarking, AdvancedExchange, AdvancedInsight, AdvancedBilling, AdvancedPatient, and AdvancedMobileDoc in booth #1419 at MGMA, October 11-14 in Nashville, Tenn.
AdvancedMD is a leading provider of cloud-based PM, EHR and RCM solutions focused on the independent physician practice market. The company’s comprehensive portfolio allows physicians to drive additional revenue and reduce administrative burden by automating medical practice processes, optimizing patient schedules and encounters, streamlining insurance claim creation, managing prescription and order processes, and by tracking and analyzing financial performance. AdvancedMD is widely recognized as a leader in its industry, and has earned the #1 ranking from KLAS, the leading independent industry analyst, in a number of categories including product quality, functionality and integration. For more information, visit www.advancedmd.com.