ADP AdvancedMD Unveils AdvancedInsight to Improve Financial Performance of Independent Medical Practices
AdvancedInsight delivers powerful business intelligence and big data capabilities that allow for at-a-glance analysis of a practice's finances on a single dashboard.
- (1888PressRelease) October 29, 2013 - San Diego, CA - ADP AdvancedMD, a leader in all-in-one, cloud electronic health record(EHR),practice management(PM),andmedical scheduling softwareas well asmedical billing services, today unveiled AdvancedInsight™, a breakthrough in business intelligence for physician practices. With up to74 percentof doctors expressing concern about the financial solvency of their practices, AdvancedInsight is a reporting suite that helps physicians and their practice managers gain better visibility into the financial health of their practices through a 360-degree view.
Practice administrators, billing staff and physicians can monitor claims outcomes by procedure type and payor performance details, allowing for better optimized practices and improved bottom lines.
"We are continuing to innovate our integrated practice management and EHR solution to increase productivity, improve revenue performance and enhance the patient experience," said Steven ZoBell, CTO and VP of Product Development, ADP AdvancedMD. "Practices need closer monitoring of their financial data in light of decreased reimbursement, an increased need for data sharing, and shifting healthcare regulations like MU2 and ICD-10. Better insight into the data provides practices with a comprehensive understanding of revenue and operations and we're delighted to bring these new capabilities to our clients."
More than half of physician specialties forecast an increase in their patient count due to an expected influx of patients under the Affordable Care Act. Improved management of reimbursements will be critical to manage private practice finances.
"Without having access to robust data or sophisticated tools for reporting on that data, most physicians and their practice managers make financial decisions off of a 'gut feel'," said Curt Hill, CEO, PMRG. "AdvancedInsight gives the independent physician practice analytics that are based on sound business fundamentals and are easy enough that most anyone can run. Now practices can better manage to key performance indicators such as which plans are underperforming, where the leaks are in revenue, or where modifying staff count would make strong financial sense."
AdvancedInsight is expected to be available early 2014.
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About ADP
With more than $11 billion in revenues and more than 60 years of experience,ADP (NASDAQ: ADP) serves approximately 620,000 clients in more than 125 countries. As one of the world's largest providers of business outsourcing andHuman Capital Managementsolutions, ADP offers a wide range ofhuman resource,payroll,talent management,taxandbenefits administration solutionsfrom a single source, and helps clients comply with regulatory and legislative changes, such as theAffordable Care Act(ACA). ADP's easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions toauto, truck, motorcycle, marine, recreational vehicle, and heavy equipment dealersthroughout the world. For more information about ADP or to contact a local ADP sales office, reach us at1.800.225.5237or visit the company's Web site atwww.adp.com.
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Media Contact:
Jim Elliot
VP of Marketing, ADP AdvancedMD
801-984-9500
jelliot ( @ ) advancedmd dot com
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