AdvancedMD’s Post

According to a recent story from Healthcare Dive, the number of uninsured Americans rose to 8.2% during the first quarter of this year, after hitting a historic low last spring. "States stopped checking Medicaid beneficaries’ eligibility for the coverage during the coronavirus pandemic in return for more generous federal funding," writes Healthcare Dive senior reporter Rebecca Pifer. "That agreement expired in April, freeing up state Medicaid departments to resume eligibility checks." Pifer goes on to report that nearly 25 million people have lost their Medicaid coverage this year, per data from the health policy research firm KFF. "Roughly seven in ten of those people were removed from Medicaid not for actual ineligibility, but over administrative errors like missing paperwork, research has shown," writes Pifer. Be sure to read the full report at: https://lnkd.in/gu_Fiu7Y #HealthcareInsurance #Medicaid #HealthcareTrends

Two days ago, we showcased the lineup of super cool cars that AdvancedMD employees, friends, and families created to race in our 3rd Annual Pinewood Derby. Today we're featuring the winners and the cars that led them to victory!! Congrats to our 1st, 2nd and 3rd place winners, along with Tyler Pettit who took home the "Safest Driver" award. Also, a huge shout out to everyone who showed up to compete. It's events like this that make AdvancedMD so special 🫶💛

Medical group staff positions are not usually associated with remote or hybrid hires, but 23% of medical group owners surveyed by MGMA said they plan to add more remote or hybrid roles this year. According to MGMA, "Embracing remote and hybrid roles is also a means to cast a wider net for talent, addressing the competitive labor market and national shortages for certain roles that are extremely difficult to fill locally." Such roles may include: ✅ Revenue cycle management positions (coding, billing, insurance verification and authorizations) ✅ Surgery and patient schedulers or call center representatives ✅ Accounting and payroll staff ✅Recruiters ✅ Quality reporting and data entry specialists You can read more on MGMA's survey findings at: https://lnkd.in/gT3qGmVb #RemoteHealthcareRoles #HealthcareCareers #MGMA

Drivers, START YOUR ENGINES! The AdvancedMD team showed up big for our 3rd Annual Pinewood Derby, a company-hosted event that's just as much fun for everyone watching the race as it is for those who build the cars and compete. This year we invited family and friends in addition to employees to participate, sending out car kits to everyone who wanted to race. We ended up with nearly 30 entries!! We'll be sure to share pictures of the winners later this week, but today we just wanted to give a shout out to all the cool cars (and all the creativity that went into the car-making process). Here's just a few of the Pinewood Derby entrants---we'll be sure to share the rest when we announce the winners 🤩🫶 #AdvancedMD #CorporateCulture #EmployeeGratitude

Mistakes happen, especially when it comes to billing errors, but medical billing mistakes can have a devastating impact on your private practice. Even relatively minor mistakes can create massive bottlenecks across your daily operations and negatively impact the patient experience. The good news, according to Physicians Practice, is that, "It might not be as difficult as you think to avoid them." The publication recently shared an insightful slide deck highlighting "5 Common Billing Mistakes to Avoid." Our favorites? ✅Sweat the small stuff ✅Bill the right payor ✅Run an analysis Check out the full article to learn all five common mistakes, along with tactics your practice can implement now to avoid them: https://lnkd.in/dh53TK9h #HealthcareBilling #MedicalBilling #RevenueCycleManagement

If your practice is struggling to fill nursing roles, a virtual nursing program may be the answer. According to Medical Economics, "Virtual nursing has emerged as a promising solution that can provide much-needed support to on-site nursing teams." In a recent report, Medical Economics lists the many benefits that come with virtual nursing programs, including: ✅ Improved patient care ✅ Reduced care costs ✅ Minimized burnout rates among nursing staff Virtual nurses can act "as the eyes and ears for on-site nurses" to help cover the full list of duties that fall to your nursing staff. Be sure to read Medical Economic's full report that highlights the benefits of virtual nursing as well as important considerations before implementing virtual nursing roles: https://lnkd.in/g-up5DS6 #NursingShortage #VirtualNursing #InnovativeHealthcareTrends

🦈🐠🫶There was definitely something fishing going on at AdvancedMD last week! We took over the Loveland Living Planet Aquarium and filled it with AdvancedMD team members, families, and friends. About 750 of us showed up for a night of super cool aquarium activities, good food, sweet treats, and a whale of a time. It's nights like this that remind us just how fortunate we are to be part of the AdvancedMD team💛

The market research firm PitchBook reports private equity-backed healthcare deals have continued to decline, dropping 16.5% in the second quarter of this year. The market has been on a downward trend since 2021, but may be poised for a turnaround according to Healthcare Dive. "Bankers have noted their acquisition pipelines are filling up, and sellers’ price expectations are beginning to decrease — signaling that a gradual increase in dealmaking could be coming," writes reporter Emily Olsen. PitchBook's Healthcare Services Report claims that the acceleration in private equity deals will likely be focused on pharmaceutical services, healthcare information technology and other non-physician practice management firms. You can read full coverage of the report at: https://lnkd.in/e3GZWNwx #HealthcareDeals #PitchBook #PrivateEquityTrends

To build a thriving medical practice, you need business intelligence insights that include a 360-degree view of your practice's financial health. With AdvancedMD, not only do you get full visibility into your practice's financial stability, our Advanced Reporting and Analytics capabilities allow you to: ✅Expertly evaluate productivity trends ✅Identify areas of improvement ✅Pinpoint opportunities for revenue growth Our Advanced Reporting and Analytics solutions are unified within the AdvancedMD Practice Management, EHR and Patient Engagement suite and come with multiple pre-built, interactive dashboards that can be filtered by date, provider, location and more. You can also easily build customized dashboards using templates with dozens of drag and drop data sets, including: provider productivity, collection trends, payment adjustments, and total RVUs. To learn more about our Advanced Reporting and Analytics capabilities, be sure to watch our two-minute demo: https://lnkd.in/dxT46EiM #PracticeManagement #MedicalOfficeInsights #MedicalPracticeAnalytics

The American Medical Association surveyed 1,000 physicians, asking how prior authorizations impact their practice and patients---the findings were eye opening. According to the survey results, physicians report prior authorizations result in worse patient care, increased administrative burdens, and higher costs for patients, employers, physicians and hospitals. Here are just a few of the AMA's physician survey findings: 🚩69% of respondents said that prior authorizations lead to ineffective initial treatments 🚩68% of respondents reported prior authorizations lead to additional office visits 🚩79% said that a prior authorization delay or denial, at least sometimes, leads to a patient paying out of pocket for a medication prescribed by their physician "Astonishingly, the health care industry spent $1.3 billion on administrative costs related to prior authorizations last year," reports AMA. "That represents a 30% increase over 2022 as a result of the rise in the volume of prior authorizations. It costs about $6 per transaction for physician practices, health systems and others to conduct prior authorization-related administrative functions that are HIPAA secure." Read AMA's coverage of the survey at: https://lnkd.in/egBjjTKs