Salt Lake City, Utah – January 6, 2010 – AdvancedMD® Software, Inc., a leader in software-as-a-service (SaaS) medical practice and revenue cycle management automation solutions, announced it has acquired PracticeOne™, a privately-held provider of a CCHIT Certified® electronic health record (EHR) software. PracticeOne provides its EHR solutions nationally to independent physician practices of all major specialties.
The strategic acquisition of PracticeOne expands the AdvancedMD Practice Management product to include a SaaS-based EHR. The new combined offering will enable complete integration between the clinical and financial functions of a medical practice resulting in improved patient safety and satisfaction, as well as improved profitability through increased staff productivity and more successful claims processing. With this integrated solution, physicians can expect an immediate ROI from a reduction in claims rejections within months of implementation. Given the national average of 30 percent claim rejections, the savings in most cases will exceed the amount of the EHR stimulus in a matter of months.
The acquired product line also includes a Patient Portal enabling web-based communications between patients and the practice, and mobile access allowing flexible, secure access to vital patient information and medical decisions via Smartphones.
“AdvancedMD was a pioneer in offering one of the first purely web-based practice management solutions to the independent physician marketplace,” said Eric Morgan, AdvancedMD CEO. “The addition of PracticeOne’s web-based 2008 CCHIT-certified EHR will position AdvancedMD for significant growth by enabling our clients to optimize their practices and gain efficiencies from this integrated solution. EHR adoption is expected to accelerate over the next several years as physicians strive to improve patient care, seamlessly exchange information with other care providers and recoup Federal stimulus dollars offered by The American Recovery and Reinvestment Act of 2009.”
AdvancedMD also benefits from the addition of individuals from PracticeOne who possess extensive experience and knowledge of the emerging EHR/EMR market.
Not included as part of the acquisition agreement is the PracticeOne billing service. PracticeOne sold its stake in PracticeOne Billing, LLC prior to the acquisition.