Cloud-based healthcare software developer AdvancedMD has announced a major expansion of its revenue cycle management offerings powered by healthcare payment company Waystar. Directly integrated into the AdvancedMD platform, the expanded technology suite equips independent medical practices with advanced artificial intelligence and automated revenue capabilities to accelerate collection cycles, streamline claims processing, and optimize overall financial performance.
The new deployment aims to solve the problems ambulatory providers have with getting their money and administrating their operations. Issues with third-party payers, paper-heavy operations, and long delays caused by manual data entry keep healthcare practices from their business. As the latest Physicians Practice survey, the situation for providers is quite dire with 85% of medical groups describing insurance payers as “below average” or “poor” with reimbursement and payment resolution. By using automation to speed up repetitive office financial work, like billing and collecting from patients and insurance companies, the expanded offering will reduce administrative friction points healthcare practices need to work around when getting their dues from insurance companies.
AI-Driven Capabilities and Financial Workflow Enhancements
The enhanced suite introduces specialized, automated tools engineered to streamline claims management, accelerate remittance processing, and eliminate manual entry across the entire revenue cycle:
Coverage Detection: Uses advanced automation and Waystar’s proprietary data network to identify hidden or secondary billable coverage, reducing eligibility-based claim denials, uncompensated care, and bad debt write-offs.
Denial and Appeal Management: Leverages AI prioritization to surface high-impact claim denials. The system provides prebuilt workflows, structured templates, and root-cause analytics to accelerate appeal submissions and prevent recurring denial triggers.
Streamlined Claim Attachments: Automates the electronic submission and tracking of required clinical attachments. According to industry estimates, transitioning to electronic attachment workflows can save healthcare providers more than $100 million annually compared to manual submission methods.
Comprehensive Analytics: Delivers high-level visibility into revenue cycle health through hundreds of key performance indicators (KPIs), configurable dashboards, and real-time reports that support data-driven decision-making.
Remit and Deposit Manager: Automatically reconciles electronic payments with payer remittances, resolving accounts receivable bottlenecks and speeding up cash collection.
Paper-to-Electronic EOB Conversion: Converts paper explanations of benefits (EOBs) into standardized electronic files that post alongside Electronic Remittance Advice (ERA), eliminating manual posting errors. Widespread adoption of electronic remittance workflows is estimated to generate nearly $900 million in provider cost savings nationwide.
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“As a leading provider of healthcare office software for independent practices, we know the struggles and friction our customers face day to day,” said Amanda Sharp, AdvancedMD CEO. “Our goal is to help providers and their staff improve daily workflows so they can prioritize patient care over paperwork. With the availability of these Waystar capabilities, our customers gain access to effective solutions that not only help improve claims and payment processes, but also positively impact their bottom line. It’s one more way AdvancedMD moves care forward, giving providers the tools they need to practice their way-without delay.”
Transforming Independent Medical Practice Operations
When healthcare reimbursement systems become more complex, solo practices need adaptable tools if they are to carry on independently and remain financially stable. Waystar and AdvancedMD have taken their relationship further in an initiative that connects direct patient care activities to business management functions. This innovation in patient-related administrative work could become a role model across the sector for efficient and well-directed ambulatory services.
Various ways for independent medical practices, billing companies, and healthcare administrators to see Waystar’s newest capabilities are now available to them, to learn about the platform’s way of integrating through their business software, and to arrange demos on how the system works via their AdvancedMD software portal.
