Automatic Data Processing, a developer of human resource, payroll and benefits administration services, has acquired AdvancedMD, which develops practice management, revenue cycle management and electronic health record software for small and mid-sized medical practices.
More than 10,000 physicians in 4,100 practices and more than 300 regional billing partners use Salt Lake City-based AdvancedMD's cloud-based solutions, company officials say. Roseland, N.J.-based ADP's Small Business Services, meanwhile, provides integrated HR, payroll and benefits outsourcing services to more than 45,000 physicians in approximately 13,500 small to mid-sized practices.
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By combining AdvancedMD's PM and EHR solutions with ADP's full set of services and long-standing history of serving medical professionals, officials say ADP is now positioned as an integrated, single-source provider of medical practice optimization.
"With a trusted brand, best-in-class solutions and experienced management team, AdvancedMD is a highly strategic fit with ADP and will enhance our offerings to small- and medium-sized medical clients," said Jan Siegmund, ADP's chief strategy officer, in a press release. "A partnership with ADP means that physicians can dedicate themselves to what they care about most – patient care – while letting ADP take care of the rest."
"With our newly combined team, ADP and AdvancedMD will compete effectively for the small- and mid-sized physician practice market," he added, "which is going through a rapid technology adoption cycle and moving aggressively toward outsourced solutions – clearly ADP's strength."
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"Becoming a part of ADP is a terrific opportunity that creates immediate and compelling benefits for our customers, our business and our employees," said Eric Morgan, president and CEO of AdvancedMD. "AdvancedMD will benefit from becoming part of a global company with extensive resources and a strong reputation built on a foundation of superior client service."
He added that the combined companies "will be in an excellent position to capitalize on the attractive long-term growth prospects of physicians seeking cloud computing-based solutions to the clinical and administrative aspects of their practices."