The leading malpractice insurer for psychiatrists, endorsed by the American Psychiatric Association for 40+ years.
Comprehensive medical billing with full RCM services option, AI-powered analytics, and Global Payments integration for seamless revenue cycle management.
What It Is
PRMS
The leading malpractice insurer for psychiatrists, endorsed by the American Psychiatric Association for 40+ years.
AdvancedMD Medical Billing
Comprehensive medical billing with full RCM services option, AI-powered analytics, and Global Payments integration for seamless revenue cycle management.
Primary Category
malpractice-insurance
billing-rcm-insurance
Primary Category
PRMS
malpractice-insurance
AdvancedMD Medical Billing
billing-rcm-insurance
Founded
Unknown
Unknown
Founded
PRMS
Unknown
AdvancedMD Medical Billing
Unknown
Best For
Psychiatrists in private practice; Forensic psychiatrists needing expert witness coverage; Psychiatrists prescribing ketamine or doing ECT
Mid-size medical practices wanting comprehensive RCM; Multi-specialty groups seeking integrated EHR and billing; Practices wanting optional full-service billing outsourcing
Best For
PRMS
Psychiatrists in private practice; Forensic psychiatrists needing expert witness coverage; Psychiatrists prescribing ketamine or doing ECT
AdvancedMD Medical Billing
Mid-size medical practices wanting comprehensive RCM; Multi-specialty groups seeking integrated EHR and billing; Practices wanting optional full-service billing outsourcing
Pricing
Starting Price
~$2,000/year
Custom quote required
Starting Price
PRMS
~$2,000/year
AdvancedMD Medical Billing
Custom quote required
Pricing Model
flat-annual
Flat monthly
Pricing Model
PRMS
flat-annual
AdvancedMD Medical Billing
Flat monthly
Free Trial
No free trial
No free trial
Free Trial
PRMS
No free trial
AdvancedMD Medical Billing
No free trial
Pricing Details
APA members receive preferred rates. Premiums vary by state, procedure mix (ECT, ketamine), forensic work, and coverage limits. Psychiatrist premiums are generally higher than non-prescriber mental health professionals due to medication liability.
PM + Billing starts around $429/month per provider. Full RCM outsourcing 4-8% of collections. Bundle discounts available.
Pricing Details
PRMS
APA members receive preferred rates. Premiums vary by state, procedure mix (ECT, ketamine), forensic work, and coverage limits. Psychiatrist premiums are generally higher than non-prescriber mental health professionals due to medication liability.
AdvancedMD Medical Billing
PM + Billing starts around $429/month per provider. Full RCM outsourcing 4-8% of collections. Bundle discounts available.
Compliance & Security
HIPAA Compliant
No
Yes
HIPAA Compliant
PRMS
No
AdvancedMD Medical Billing
Yes
BAA Available
No
Yes
BAA Available
PRMS
No
AdvancedMD Medical Billing
Yes
SOC 2 Certified
Unknown
Yes
SOC 2 Certified
PRMS
Unknown
AdvancedMD Medical Billing
Yes
HITRUST Certified
Unknown
Yes
HITRUST Certified
PRMS
Unknown
AdvancedMD Medical Billing
Yes
Features
Mobile App
No
Yes
Mobile App
PRMS
No
AdvancedMD Medical Billing
Yes
Mental Health Specific
Yes
No
Mental Health Specific
PRMS
Yes
AdvancedMD Medical Billing
No
Integrations
Total Integrations
None listed
3 integrations
Total Integrations
PRMS
None listed
AdvancedMD Medical Billing
3 integrations
Clearinghouse
None
None
Clearinghouse
PRMS
None
AdvancedMD Medical Billing
None
Billing Features
Claims Submission
No
No
Claims Submission
PRMS
No
AdvancedMD Medical Billing
No
Eligibility Verification
No
No
Eligibility Verification
PRMS
No
AdvancedMD Medical Billing
No
ERA Processing
No
No
ERA Processing
PRMS
No
AdvancedMD Medical Billing
No
Support & Fit
Practice Sizes
Solo, Small (2-10), Medium (11-50)
Small (2-10), Medium (11-50), Large (51-200)
Practice Sizes
PRMS
Solo, Small (2-10), Medium (11-50)
AdvancedMD Medical Billing
Small (2-10), Medium (11-50), Large (51-200)
Customer Base
Unknown
Unknown
Customer Base
PRMS
Unknown
AdvancedMD Medical Billing
Unknown
Ready to Get Started?
Visit these tools to learn more or request a personalized demo.
