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AdvancedBenchmarking & AdvancedExchange
While attending MGMA 2015 Annual Conference in Nashville, TN, AdvancedMD announced two new technologies:AdvancedBenchmarking and AdvancedExchange. These two technologies are part of an increasingly-broad array of products that extend the capabilities of our core practice management and EHR bundle, which are meant to give you freedom to practice with improved operational performance and patient engagement tools.
- AdvancedBenchmarking gives your independent practice access to powerful, enterprise-level business performance information to assess financial performance against your peers using industry-standard definitions.
- AdvancedExchange is a powerful interoperability platform that allows you to connect all your disparate health information systems together within and across AdvancedMD.
To further continue our support and innovation for independent practices, we also recently announcedAdvancedMobileDoc, an iOS app that gives access to complete practice data from an 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. We have additional enhancements in production and look forward to announcing them shortly.
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. AdvancedBenchmarking provides actual aggregate financial performance data by specialty and geography so practices know with precision how they stack up to peers, 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 your practice’s financial performance. This new business intelligence tool lets you view your valuable productivity metrics such as Total Relative Value Units, the value assigned to each CPT (Current Procedure Terminology) code, so you can compare your practice 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 our 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. 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 include:
- AdvancedPatient is a patient engagement suite that lets your practice 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 is 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 you to more efficiently service your patients wherever they’re located.