AdvancedMD® Software, Inc., the leader in all-in-one, web-based practice management, EHR and billing applications for medical practices and medical billing services, announced it has released six new management reports designed to help billing services and physician practices avoid key billing and collection problems. These reports mark the beginning of a multi-release effort to evolve the AdvancedMD medical billing software into an industry leading performance monitoring and measurement platform.
In conjunction with these reports, AdvancedMD released a new professional resource called the Training and Companion Guide. The company recognizes that the authors of the Medical Group Management Association’s best-selling book, The Physician Billing Process: 12 Potholes to Avoid in the Road to Getting Paid, 2nd Edition, have set the industry standard for revenue cycle management best practices and considers them to be the country’s experts in providing guidance to effectively manage the entire accounts receivable process. To maximize the billing processes, AdvancedMD recommends the MGMA book, and the AdvancedMD Training and Companion Guide, to help billing professionals leverage the numerous tools and reports available in the AdvancedMD product suite to achieve industry best practices.
Customers Experience Immediate Value from New Reports
Derrick Berger, Practice Manager with Brazosport Urology, Lake Jackson, TX, said, that of the six new reports released, the appointment detail, carrier denial analysis and claims submission analysis reports were most valuable in managing his operation. “For example, now I can easily track our carriers and see who is denying and why. I can quickly determine if the cause is something we are doing internally. With these reports, I was able to determine that when we are understaffed in certain areas, our clean claims rate and net collections rate goes down. Before these reports came out, I was looking for an audit group that could help me determine how to run a better practice and collections process. I am no longer looking. These reports give me everything I need, plus the ability to quickly drill down to the detail to really understand the problem. Overall, these new reports are enabling our operation to get better, faster.”
According to April Arzate, President and CEO of Ascend Health Services in Austin, TX: “From a billing agency perspective, the new reports are invaluable. By running a single report, I can see where our processing delays are happening – whether it is with the practice, the billing staff or the payer. If it is an employee problem, I can quickly identify where the individual has weaknesses and needs training on our processes. In the past, I had to run several reports and consolidate the information. AdvancedMD has automated this for me.”
Aligning Software Tools with Best Practices
“No other medical billing software company has invested the development time and documentation effort to align its features and reports with the MGMA bestselling Physician Billing Process book,” said Troy Young, AdvancedMD Chief Architect. “When our Guide and software tools and reports are used in conjunction with the Physican Billing Process book, together they deliver an unprecedented set of well-defined practical guidelines, workflow processes and performance monitoring and measurement tools that will help most any physician practice or billing company improve their revenue collections success. We got the idea of aligning our product features and reports with the industry leading best practices book from our support group. The majority of our support calls turn out to be requests from office managers and billers on how to increase their operational efficiency. We asked, ‘How can we reduce our support costs and improve customer service.’ The Companion Guide idea was our solution.”