Revenue and a successful medical practice go hand-in-hand.
Unless your practice has the ability to maintain a steady revenue stream, it will be difficult to achieve bottom-line profitability and in a worst case scenario, the viability of your practice could be on the line.
In the average small business, improving revenue usually comes down to increasing sales. Medical practices usually don't have that luxury since they are always operating at or near full capacity. So to improve revenue, your practice will have to do a better job at capturing the revenues you have already earned.
AdvancedMD is a sophisticated medical billing application that improves and automates revenue capture tasks. Its web-based platform offers a big improvement over paper-based billing and client/server billing applications that lack state-of-the-art claims scrubbing and a continuously updated rules engine.
With a strong emphasis on revenue capturing, AdvancedMD is rapidly becoming the billing solution of choice for many medical practices. Here are some of the AdvancedMD features that can improve your revenue stream.
- eEligibility. AdvancedMD's eEligibility feature automates patient insurance coverage confirmation in advance of the patient's actual appointment date. Combined with on-demand electronic spot checks, this reduces rejected claims and improves patient relations.
- Deductibles & copays. The AdvancedMD system also makes it easy for you to identify patient deductibles and copays before the day of the appointment, paving the way for patient portion capture upfront rather than entering patient payments into an A/R process.
- Custom online charge slips. You'll reduce the number of lost charge slips (or superbills) with AdvancedMD's customizable online charge slip feature. Charge slips are safely stored online and can be accessed through any standard web browser.
- Claims inspector & e-claims. AdvancedMD features a sophisticated claims inspector and e-claim process that identifies potential claims rejection errors before the claim is submitted, reducing the amount of time you have to wait for payment.
- Other features. AdvancedMD offers many other features that are beneficial for maximizing revenue capture including denial tracking, A/R & collections tools, online codes and a convenient patient checkout interface.