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AdvancedMD Review - Medical Billing Services

By
Adam C. Uzialko
,
business.com writer
| Updated
Jul 24, 2019
Home
> Technology
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Medical billing services need to be adaptive to a variety of specialties and practice sizes. AdvancedMD has historically served independent practices with just one to 10 providers, but it has more recently moved into the 100-provider space. AdvancedMD's billing services include access to its electronic medical records (EMR) system and practice management software for a percentage of monthly collections. The company can work with virtually any specialty and currently boasts a first-pass claims rate of 98.4%, one of the most competitive rates among the services we reviewed. For all these reasons, AdvancedMD is our best pick for medical billing service for large practices.

AdvancedMD - Medical Billing Services

AdvancedMD - Medical Billing Services

The Best Medical Billing Service Providers of 2019

The Verdict

AdvancedMD offers a full suite of powerful software and thorough medical billing services at a competitive cost. With an organization-wide first-pass claims rate of 98.4%, AdvancedMD is our best pick for medical billing service for large practices.

View all our recommendations for medical billing services on our best picks page.

Billing Process

AdvancedMD does not perform coding services, which is one of the few limitations we noted in its services. Instead, the company's billing process starts after claims have already been generated through charge entry and coding. The client practice then passes the claims to AdvancedMD, and the company scrubs the claims for any errors and submits them to the proper payers. AdvancedMD's 98.4% first-pass claims rate means there are relatively few denials to deal with, but if a claim is denied, the service will work to revise and resubmit it until the claim is ultimately accepted and paid. In addition, if a payer or patient has not paid their outstanding balance, AdvancedMD billers will follow up to secure the payment.

All billers on AdvancedMD's staff must have at least one year of experience working in the industry. Between 10% and 20% of the company's billers are also certified coders, which helps when it comes to claims scrubbing.

AdvancedMD works with a wide range of clients, including small independent practices and larger multiple-location practices with up to 100 providers. The average AdvancedMD client has about 3,000 patient encounters per month, while larger clients have as many as 30,000 encounters per month. The company's wide range of experience makes it a flexible service that can work with smaller practices, but also excel at revenue cycle management for large practices.

AdvancedMD Pricing

AdvancedMD's average client can expect to pay 4% to 6% of net monthly collections, although there are some outliers that pay as low as 2% or as high as 8% of collections. The fluctuation in pricing is due to the nature of the medical billing service industry, in which pricing models are largely dependent upon practice size, specialty, billing complexity, claims volume and more.

AdvancedMD Support

The cloud-based system does mean that if the software experiences any problems, it affects all practices using the system. When this happens with AdvancedMD, it posts updates about any software issues in its website's support section.

AdvancedMD offers thorough resources on the ICD-10 implementation, including training videos and webinars. The software supports both hospital procedure codes and clinical modification diagnosis codes, making AdvancedMD compatible with multiple clinical settings and specialties.

You can run reports through AdvancedMD and customize them to best fit your practice's specialty; however, the initial setup for the software can be time-consuming and difficult depending on how much customization you need. The interface is heavy on features, and while that's great for flexibility, it does mean it has a learning curve. Regardless, AdvancedMD is an excellent service to consider, especially if you are looking for advanced software.

AdvancedMD is a thorough medical billing solution for any ambulatory practice. The software is conveniently cloud-based and combines a great practice management system with a certified EHR. AdvancedMD follows HIPAA guidelines, so you know that your patient and practice data is protected and secure.

Limitations

The biggest drawback of AdvancedMD's medical billing service is that the company does not manage charge entry or coding. These aspects of claim generation must be completed in-house by the practice or outsourced to a separate company, neither of which is ideal for a practice that wants seamless billing. Once claims are generated, AdvancedMD takes over, but the burden of managing coding and the complications that comes along with it remain squarely as the practice's responsibility. Many of the other medical billing services we reviewed do offer coding services, though it's not unusual in the industry for a company to only manage claims after they've been created. While the lack of charge entry and coding is notable, large practices often have certified coders in-house, so AdvancedMD remains our best pick for medical billing service for large practices.

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AdvancedMD - Medical Billing Services

AdvancedMD - Medical Billing Services

The Best Medical Billing Service Providers of 2019

The Verdict

AdvancedMD offers a full suite of powerful software and thorough medical billing services at a competitive cost. With an organization-wide first-pass claims rate of 98.4%, AdvancedMD is our best pick for medical billing service for large practices.

Adam C. Uzialko
Adam C. Uzialko
Adam C. Uzialko, a New Jersey native, graduated from Rutgers University in 2014 with a degree in political science and journalism and media studies. He reviews healthcare information technology, call centers, document management software and employee monitoring software. In addition to his full-time position at Business News Daily and Business.com, Adam freelances for several outlets. An indispensable ally of the feline race, Adam is owned by four lovely cats.