Three-year preparation by private practice cloud technology leader pays off for clients
South Jordan, UT – Nov. 17, 2015 – AdvancedMD, the pioneer in cloud technology for physician practices, today announced ICD-10 transition successes by their independent practice clients and billing services partners. As part of the company’s commitment to help clients stay one step ahead of compliance challenges, a cross functional team of experts called the ICD-10 Posse waged a significant three-year campaign to provide tools and continuous education on the ICD-10 transition process. As a result, 100% of AdvancedMD clients were ICD-10 compatible on October 1, and the first ICD-10 payment was received only seven days after the transition.
“I would like to commend AdvancedMD in making this transition over to ICD-10 ultra-easy,” said Neeta Sandhu, Practice Manager, Electrodiagnosis and Rehabilitation Associates of Tacoma, Tacoma, WA. “Our physicians demand the best and we expected that this would be one of the most difficult times for our financial operations; I am happy to say that this was not the case.”
Smaller physician practices, particularly those lacking extra staff, face unique challenges with the ICD-10 conversion. Because their employees have multiple roles, rarely can one person devote a lot of time to the process, or set aside a specific time to attend training. These practices took advantage of the full court press by AdvancedMD for ICD-10 awareness and education. As a result, clients needed less assistance during the week of the transition than forecasted.
“Not all ICD-10 compliant software and support is created equally,” commented Raul Villar, CEO, AdvancedMD. “Our goal is to give our clients the freedom to focus on patients by providing every tool and resource required to get independent physician practices up to speed – from the myICD-10 website, to live webinars, to the ICD-10 tracker app. As a result, our clients had an easy transition.”
Several weeks after the transition, clearing house rejections and carrier level rejections have decreased from ICD-9 levels, and successful claims are at the highest level ever, signifying a positive financial impact for clients. Today the pre-adjudication carrier rejection average for practices on AdvancedMD stands at 1.5 percent, far lower than the rate of 2.3% under ICD-9.
“To prepare our customers, we encouraged them to review their top 20 insurance carriers and identify the source of 80 percent of their income so they could test ahead of the cutover and see where there might be problems,” said Wendy Aiken, product manager and ICD-10 posse leader for AdvancedMD. “We offered training resources that enabled practices to visualize the transition easily identifying and incorporating new diagnosis codes, testing with carriers, practicing new workflow and conducting chart audits from different perspectives.”
Some clients initially slowed their claims billing on October 1, in order to ensure a smooth transition. Claim submissions have since accelerated and recently broke the single day claims record for AdvancedMD clients. One of the biggest challenges for independent physicians is the transition from paper charge slips to electronic — many of the ICD-9 codes only requiring one page charge slips ballooned to 7-9 pages under ICD-10. To help with this specific challenge, AdvancedMD provides a dual coding and a mapping tool to confirm the correct codes are being used.
About AdvancedMD
AdvancedMD is a leading provider of cloud-based PM, EHR and RCM solutions focused on the independent physician practice market. The company’s comprehensive portfolio allows physicians to drive additional revenue and reduce administrative burden by automating medical practice processes, optimizing patient schedules and encounters, streamlining insurance claim creation, managing prescription and order processes, and by tracking and analyzing financial performance. AdvancedMD is widely recognized as a leader in its industry, and has earned the #1 ranking from KLAS, the leading independent industry analyst, in a number of categories including product quality, functionality and integration. For more information, please visit www.advancedmd.com.