American Medical Association launches practice financial analysis tool

The American Medical Association (AMA) has released an online tool designed to help physician practices prepare for billing and payment audits by insurers and federal contractors.

The AMA's Practice Analysis Tools for Healthcare (AMA PATH) uses 3 modules to help a practice set its fees and identify coding and billing risks. Practices can develop a custom fee schedule that accurately reflects business costs and the value of their medical services; compare fee schedules against national average billed charge amounts and the Medicare Physician Fee Schedule by locality; and analyze coding and billing patterns for individual physicians and compare them against national averages by specialty.