AdvancedMD Rolls Out New Automation and Payment Capabilities to Help Private Practices Increase Productivity and Drive More Revenue
As part of its 2024 summer product release, AdvancedMD is launching the AdvancedMD Pay credit card processing system and terminal that unifies the entire patient billing process
AdvancedMD, a Global Payments ((GPN) company and provider of cloud-based healthcare software for independent medical practices, today announced the rollout of more than 30 new features for its 2024 summer product release, with updates to the AdvancedMD practice management, EHR, and patient engagement suite of tools. The updates are designed to increase efficiencies, drive productivity, and boost revenue.
Chief among the product updates is the newly released revolutionary Certified PAX A920 credit card processing terminal. The terminal seamlessly connects to the AdvancedMD Pay system, the company's all-in-one healthcare payment processing platform that allows private practices to collect credit card payments in-person and online, enabling a fully unified revenue cycle management strategy. During the initial rollout, the credit card processing terminals will be available by invitation to existing AdvancedMD Pay clients and then extended to all clients.
In addition to the AdvancedMD Pay terminal, the AdvancedMD Pay platform can now process payment plans through the AdvancedMD Patient Billing Wizard for patients who have a credit card on file. It can also capture and disburse insurance virtual credit card (VCC) payments, enabling practices to process a VCC in the Payment Entry—all in a single transaction. The AdvancedMD explanation of benefits allows healthcare providers and their admin teams to distribute a payment to many patients and monitor how much of the VCC payment remains.
According to a recent poll from the Medical Group Management Association (MGMA), more than a third of the medical groups surveyed automate less than 20% of their revenue cycle operations. Meanwhile, when asked what areas they plan to automate or outsource this year, one in five medical group owners said the "revenue cycle" elements of their practice.
"Health providers and private practice owners are up against a myriad of challenges when it comes to establishing successful revenue cycle management strategies. Claim denials, low reimbursement rates, late patient payments, and more can have a massive impact on a practice's financial stability. That's why we're so excited about the launch of our credit card processing terminal that enables practices to easily accept in-person payments via a device that seamlessly integrates with the AdvancedMD Pay platform," said Tim Costantino, VP and Head of Product, AdvancedMD. "It's one of the many ways AdvancedMD is helping our customers by providing best-in-class payment solutions that drive more efficient, and more profitable, workflow processes. With this latest release, we are raising the bar on practice management, EHR, and patient engagement capabilities so that our customers have the tools they need to build a thriving practice."
In addition to the launch of the AdvancedMD Pay terminal and updates, the practice management, EHR, and patient engagement sides of the platform also received a number of new features.
Practice Management Updates:
- The Carrier Update tool now allows admins to update multiple carriers simultaneously, making mass updates quick and easy.
- Automated payment terms for cancellations and no-shows, enabling multiple charges with different charge amounts so that practices have the flexibility to change a fee based on whether it's a no-show or cancellation. AdvancedMD customers can easily track patients who frequently miss appointments and close the documentation loop by adding a note and a charge slip within the EHR.
- AdvancedMD customers can now perform a partial write-off via the Mass Write-off feature, and the Fee Schedule Import tool also has been enhanced: instead of receiving an error when trying to import a file containing CPT codes that don't exist in their office key, AdvancedMD customers will get a warning. The warning helps save time, eliminating the need to manually remove missing codes—instead, the import can be completed with all other fees from the file belonging to CPT codes in use.
EHR Updates:
- AdvancedMD has included a variety of enhancements to its ePrescribing feature based on client feedback, including more filtering and sorting options for the eSend status screen, new search capabilities for pharmacies and medications, a prescriber list that only shows prescribers who can eSend when writing a prescription, and more.
- The ability to review dispensed medications by the pharmacy and evaluate medication adherence, making it easier to evaluate data for patients who are non-compliant.
- More streamlined electronic case reporting capabilities: practices can automatically send patient case reports directly from AdvancedMD EHR to state public health agencies, without disrupting clinical workflows.
Patient Engagement Updates:
- More granular visibility into patient form management to improve operational transparency and patient care assessments: practices can see who assigned and/or approved a specific patient form.
- Increased administrative controls and user-level security for appointment reminder templates: admins are now able to limit who can edit the templates. There are also new role privileges under the "User Management" settings for Automated Messaging & Reminders. When the setting is disabled for any user, they will not be able to edit those templates.
- Time zone enhancements in the scheduler make it easier to schedule appointments for patients living in different time zones than the medical practice. This update enables a more seamless process for setting and managing appointments. This feature is available throughout all AdvancedMD products, including its mobile apps.
To see a complete list of the product updates, visit: 2024 Summer Release.
About AdvancedMD
AdvancedMD, a Global Payments ((GPN) company, revolutionized medical office software in 1999 with the introduction of the industry's first true cloud solution. Today, the company continues to lead HealthTech innovation with a complete cloud suite of smart applications that work in unison, accelerating collaborative workflow for every role of the practice. With AdvancedMD, medical office staff are empowered to thrive in the online age of healthcare and value-based reimbursement with essential clinical, financial, patient engagement, and reputation management applications that are unified and available anytime, anywhere on any device. AdvancedMD strives to be the technology heartbeat of healthcare for providers, patients, and payors for a healthier world. For more information, visit advancedmd.com.
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