Users Say New AdvancedMD® Version 5.6 Saves Time and Money : AdvancedMD v5.6 Further Automates and Streamlines Claims Management Information and Pro
SALT LAKE CITY (Business Wire EON) July 8, 2008 -- The product's new features address the significant decline that physicians' revenues in the U.S. have experienced as a result of lower, and more costly, reimbursements from denied claims, claim appeals, and increased administrative/operating expenses. Operating costs for multi-specialty practices have increased an average of 20 percent since 2004 according to Physicians Practice magazine. AdvancedMD v5.6 is designed to combat these issues. Included in the new release are several enhancements that reduce billing errors and claim rejections including integrated batch and on-demand eligibility checking, automatic worklists from payor reports, enhanced rebill filtering options and time-based global period information.
"AdvancedMD v5.6's worklisting feature for payor reports creates an end-to-end claims management dashboard right within the billing application," said Ken Meyers, vice president of operations at AdvancedMD. "There's no need to go to payor or clearinghouse websites to manage edits or rejections, and the actions you take are within your billing operation so there's no synchronization issues either."
"Integrated eEligibility is the ultimate feature in our quest for clean claims," said Dan Williams, President of Seattle-area outsourced medical billing firm Great Acclaim LLC. "AdvancedMD v5.6 is now pre-checking insurance eligibility for more than 70 percent of our clients' established patients. That's a very welcome reduction in the age-old 'Has anything changed?' question at the front desk." Williams expects that eEligibility will save his clients one person-day per month for each full time employee at the front desk and reduce their rate of denials by about 30 percent. "Bad patient demographics is a major source of denied claims," said Williams, "and since each claim with an eligibility problem takes us about 20 minutes to remediate, prevention is the name of the game."
As with all AdvancedMD software enhancements, updates and upgrades are free; users aren't required to initiate any action. All system upgrades are performed by AdvancedMD.
More information on the AdvancedMD® v5.6 upgrade is available at www.AdvancedMD.com. In addition, representatives from AdvancedMD and product users who have been using the beta version for the last month discuss the upgrade on a podcast which is available at http://www.podango.com/podcast.php?podcastId=3154.
About AdvancedMD Software
AdvancedMD Software, Inc., headquartered in Salt Lake City, Utah, is the leader in Web-based medical billing and practice management software. AdvancedMD Software brings to market AdvancedMD®, a full-featured medical billing and scheduling solution and AdvancedEMR®, a flexible electronic medical records management system. AdvancedMD solutions include free technical support, world-class security, and fully HIPAA compliant accessibility. For more information please visit www.advancedmd.com.
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