AdvancedMD Company Overview

Company Overview

AdvancedMD is the #1 Web-based medical practice management solution on the market today. We service two primary markets, small to medium sized medical practices and third party medical billing services. With over 6 years of development, AdvancedMD's software system has the best workflow and feature set of any Web-based product available and provides significant cost and feature benefits over client server systems. The company continues to build on its #1 market position in the growing Web-based software category and has established itself as a preferred solution in the broader medical practice management category.

Quick Facts

AdvancedMD Software, Inc. is a privately held company with headquarters located in Salt Lake City, Utah. The company's primary owners are Dominion Ventures and Windward Ventures, both out of California, and Hunter Capital of Park City, Utah. These well-established firms have provided valuable direction, capital and business expertise that has enabled AdvancedMD to establish and grow its leadership position in Web-based practice management software since 1999. AdvancedMD is a Microsoft Certified Partner and a preferred healthcare software vendor.

Company History

AdvancedMD was formed in 1999 as Perfect Practice, its first customers came aboard in early 2001, and the company was re-branded as AdvancedMD Software in 2003. The AdvancedMD system itself is a full-range, HIPAA-compliant (the Health Insurance Portability and Accountability Act of 1996) medial office and billing package that includes patient demographic records, scheduling, referral tracking, charge capture for services performed, electronic and paper claims processing, statements, management reporting, and EMR (electronic medical record) functions in image and document management and transcription records.

AdvancedMD Product Line

AdvancedMD is available on a subscription basis as a base package, with the following optional add–on modules and services:

AdvancedEMR
AdvancedMD Collections module
AdvancedMD Central Billing module
AdvancedMD Handheld (PocketPC)
AdvancedMD Transcription Desktop
AdvancedMD Connect (API)
AdvancedMD Claim Inspector (CCI)
AdvancedMD File Import Manager
eClaims service
eRemittance service
eStatements service
eEligibility service

Installing and Maintaining Software

AdvancedMD's Web-based software is an easy–to–use, simple application with sensible benefits:

Speedy deployment with no office-side installation. All that is required is a Web browser and an AdvancedMD username and password.
Clients receive full system access soon after ordering so training can begin almost immediately.
All servers are maintained in a "hardened" and redundant, world–class (the most robust and secure available) Network Operating Center (NOC) with 8 levels of physical and logical security including biometric access restrictions and bulletproof doors. It's very, very secure; 300% more HIPAA compliant than any client/server application. AdvancedMD uses the same security infrastructure as leading international financial services firms: JPMorgan, Chase, Goldman Sachs, GMAC, etc.
AdvancedMD installs upgrades and enhancements overnight for all clients (all upgrades and unlimited live technical support are free with the standard service).
Data is backed up hourly and stored in co-located world–class, maximum security hosting facilities; the backup is restored twice to verify integrity.
Clients can download a complete copy of their data at any time to make their own backup if desired.

Product Benefits

As a Web-based application, AdvancedMD reduces costs and allows clients to effectively manage their data in a practical personal manner.

Up to 75 percent Total Cost of Ownership (TCO) savings for Web-based software
Increased data control, along with additional flexibility and freedom
Easily accessible (and incredibly secure) information access anytime, anywhere, via the Internet
Simultaneous multiple location access and up–to–the–minute reporting
Dramatically faster and substantially cheaper system implementation and training
Immediate reduction in claims rejection (below 5% guaranteed)
Virtually eliminate lost charge slips

AdvancedMD Customers

AdvancedMD Software is used by medical professionals in three general categories – solo practices, group practices, and 3rd-party billing services. The system is used nationwide and across all major specialties mirroring the general distribution of physicians. As of December 2006, AdvancedMD provides services for over 7,500 providers, 22,000 users and 10 million patient records. Each year, 98% of AdvancedMD Software clients renew their service even though there is no obligation.