ADP AdvancedMD Announces ICD-10 Transition Program to Lighten Burden for Private Practices
26 Fevereiro 2014 - 5:59PM
Marketwired
ADP AdvancedMD Announces ICD-10 Transition Program to Lighten
Burden for Private Practices
Three-Point Program to Assist Successful Transition With Free
Resources, Product Enhancements and Revenue Cycle Financing Offered
Only to ADP AdvancedMD Clients
ORLANDO, FL--(Marketwired - Feb 26, 2014) - ADP® AdvancedMD, a
leader in all-in-one, cloud electronic health record (EHR),
practice management, and medical scheduling software as well as
medical billing services, today announced an ICD-10 transition
program to ease the burden on private practices. The program
includes free preparation resources, product enhancements offered
at no charge and a revenue cycle financing program offered only to
ADP AdvancedMD clients through an independent third party, Alleon
Healthcare Capital. The financing program aims to minimize the
impact of a revenue delay or lock-up by providing two funding
options to help ADP AdvancedMD clients withstand 30, 60, and even
90 days of nonpayment.
"There is speculation the transition to ICD-10 could cause a
halt in the revenue cycle process," said Raul Villar, president,
ADP AdvancedMD. "While we are confident our platform will not cause
challenges, there could potentially be data exchange problems among
clearinghouses and payers, leading to issues with claim
submissions, delays in payments or an increase in denials. The
question each practice should be asking is: 'Will my business be
able to sustain a potential impact to cash flow during the
transition?'"
The ADP AdvancedMD Transition Program includes:
Educational Resources: ADP AdvancedMD clients have free access
to an ICD-10 resource site, MyICD10.com, filled with recorded
trainings, preparation guides and industry articles to help
physicians and their staff successfully prepare for the transition.
Users can subscribe to MyICD10.com and receive updates when new
materials are posted. Subscribe at:
http://myicd10.advancedmd.com/.
Product Enhancements Offered at No Charge: ADP AdvancedMD is on
track with its ICD-10 enhancement plan for PM and EHR products to
ensure practices can create and submit clean claims come October 1,
2014. Among the features that will be available through the product
are:
- Assessment preparation: Reports to help you identify your top
20 diagnosis codes and your top paying carriers.
- Dual coding enabled for both ICD-9 and 10
- Updated online charge entry workflows to support both ICD-9 and
10 claim creation
- A mapping tool to translate ICD-9 to ICD-10 codes, in order to
assist charge posting staff in determining the right code, based on
the details in visit document notes.
Revenue Cycle Financing Program: While ADP AdvancedMD will be
monitoring clients' claim submission process for issues, delays,
and denials, the company has also engaged Alleon Healthcare
Capital, an independent third party, to offer support to ADP
AdvancedMD clients in the form of a Revenue Cycle Financing Program
that includes the following two options:
- Bank statement cash advance: This is an advance against future
revenue in the form of a onetime cash advance to medical providers
based on a six-month average of gross revenue with a maximum
advance of up to $500,000, typically within 72 hours of
application.
- Accounts receivable based line of credit: This is a loan that
provides the flexibility to receive cash sooner, supports growth,
and establishes a relationship with a financial partner that
understands medical revenue cycle management and can help practices
deal with the business's cash flow needs.
For more information on the revenue cycle financing program,
contact Alleon Healthcare Capital to determine if this is a viable
avenue of cash flow support to help your practice weather this
transition: 201-340-6138 or info@alleoncapital.com.
AdvancedMD Resources
- Watch an executive discussion on AdvancedInsight
- Tour the AdvancedInsight reporting suite
- Learn more ADP AdvancedMD and our software and services
that support practices no matter how they choose to do
their medical billing, inhouse or third party biller.
(www.advancedmd.com)
- AdvancedMD on Facebook, Twitter and
LinkedIn
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 and Human Capital
Management solutions, ADP offers a wide range of human resource,
payroll, talent management, tax and benefits administration
solutions from a single source, and helps clients comply with
regulatory and legislative changes, such as the Affordable 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 to auto,
truck, motorcycle, marine, recreational vehicle, and heavy
equipment dealers throughout the world. For more information
about ADP, visit the company's Web site at www.adp.com.
The ADP logo and ADP are registered trademarks of ADP,
Inc. All other marks are the property of their respective
owners. Copyright © 2014 ADP, Inc.
Media Contact: Jim Elliot VP of Marketing (801) 984-9500 Email
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