billing-services

Best Medical Billing Software (2019 Guide)

What is Medical Billing Software?

Aside from wanting to make their medical offices more productive, physicians also want to make things easier for their staff to manage their day-to-day tasks and paperwork. As a result, a lot of healthcare providers are turning to medical billing software to make things faster, easier and more efficient. Medical billing software handles the billing process, ensuring that medical professionals have precise, up-to-date financial records. This software is also where healthcare professionals input patient records, submit insurance claims, and manage patient receivables.

Medical practice management software, more commonly known as a medical billing software, is a category of the healthcare software that deals with the day-to-day operations of medical practices. It makes any medical providers’ work easier and faster because the software allows its users to capture and encode patient demographics, schedule appointments, maintain lists of insurance payers, perform billing tasks, and generate different types of reports.

In the United States, most medical billing software for billing companies are designated for small to medium-sized medical offices and clinics. However, some of the software is designed for, or used, by third-party medical billing companies. A medical billing software is usually divided into three main categories - desktop-only software, client-server software, and internet-based software.

Desktop-only server can be used by only on one computer with a handful of users sharing access.

Client-server software allows multiple users to share the data and the workload. However, it is costly because you need to pay more in order to run the server.

Internet-based software eliminates the need for a practice to run its own server, but it can potentially compromise confidential patient information.

Also, medical billing software programs is often connected to an electronic medical records system (EMR). Both softwares are generally used to assist medical practices with clinical, administrative, and financial matters. And when it comes to obtaining billing software, there a ton of different EMR and medical billing software vendors to choose from.

Best Medical Billing Software: What should you look for?

A software for medical billing ensures that the right billing statement goes to the right patient is extremely important. Why? Because it impacts your bottom line. If you don’t send patient statements to the correct patients, how will you ever get paid? Plus, it just looks bad on your part if you can’t even bill the correct patient. So, you want to ensure that choose a reliable billing software.

Interested in acquiring the best medical billing software for your practice? Honestly, it’s a good idea. However, there are a few things that you should look for when you’re software shopping:

integrated medical software

Integration

By integrating and streamlining the software in a cloud-based data, there will be less contractual errors, data migration will be eliminated, it increases the software’s visibility and payment turnarounds.

Putting all of your patient’s data that is used by your EHR and practice management system into one software makes both your clinical and administrative workflow smoother. The office staff will no longer have to stop working on one task in order to open another task just to find a piece of specific information. Now, it will all be in the software. In addition to increasing efficiency, it would also be easier for a practice management system to identify and correct improperly coded procedures. It would be advantageous

Lastly, consolidating patient data into one software increases the accuracy and precision of the reports generated - this lead to greater insight.

Easy administration and generates fast reports

Generating reports should be fast and easy. As healthcare technology evolves, digital systems for medical documentation has been the norm, especially in US healthcare. The transition to paperless documentation has proven to make the lives of medical practitioners a lot easier. With the information stored in one software, there is added efficiency and generating in reports. Expanding the software’s reporting capabilities can deliver better key numbers for the business drivers.

fast billing software
Security-Compliance

Security & Compliance

Securing leverage and platform capabilities can eliminate a headache if the software is connected to the cloud database. Plus, any HIPAA compliant medical billing software that you choose should be compliant with the HIPAA guidelines and be updated for the seven-digit coding system.

Online invoices for faster payment

Setting up a web page and sending it online through a link is an easier way for patients to edit invoice write ups, easily access their invoices, and they can pay instantly through the invoice without visiting their bank website or calling.

electronic payment processing

Electronic tracking and transparent payment processing

When it comes to tracking payments, this must be transparent. It is important that it provides users with the ability to log and communicate the correct steps in order to get the claim processed. And when it comes to payment collection, the software should be able to verify a patient's healthy insurance eligibility and set up automatic payment plans.

Mobile invoicing through phone or tablets

Software with an extensive mobile app can generate smart online invoices that can keep track of the payments made. When looking for the best software for your company, this is something important to keep in mind. Additionally, there are a lot of on-the-go patients, and they prefer to pay instantly through their credit card, debit card, automated clearing house, and direct debit. This can hasten transaction methods by 30%. So a medical billing system that accepts credit cards and other fast payment methods is ideal.

medical invoicing software

Invoice Reminders

Automating an invoice reminder can keep persistency level high by sending out a gentle reminder to customers of their payables without the hassle of constantly reminding them for their payables. It will be easier for both the medical practice and the patients if there is a generated system that can keep track of unpaid invoices that are due and past due.

Cost and Return of Investment

The total administrative cost of processing a medical claim can be as high as $10/claim, yet an average of 30% of these medical claims are sent to insurance companies and not get paid.

Size of Organization Single Facility Multi-Facility Third-Party Medical Billing
Overhead Savings $ 7,155 $ 27,315 $ 120,300
Staff Savings $ 30,140 $ 90,419 $ 301,395
Space Savings $ 55,181 $ 151,144 $ 465,413
Workflow Automation Savings $ 32,452 $ 97,356 $ 324,519
EOB Management Savings $ 30,829 $ 92,488 $ 308,293

These are a few important things to keep in mind when it comes to the return on investment.

Best Medical Billing Software Companies in the United States


billing-software-services
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Meditab

They streamline your workflow, boost productivity, and increase your ROI.

Running a successful practice involves managing various aspects—from the nitty-gritty of daily operations to the intricacies of patient care and it can be difficult to handle things simultaneously. With Meditab’s Practice Management solution integrated into their EHR system, they give you healthcare billing software tools to support your daily operations and meet the growing demands of your clinic.

When you integrate your practice with their Practice Management software solution, you can enjoy additional features such as:

  • Managing multiple office locations

  • Insurance eligibility verification

  • Alerts and reminders

  • Letters and forms

  • Copay collection during check-in or check-out

  • E-faxing

  • Patient tracking

  • Electronic claim submission to their partner clearinghouses

  • Electronic remittance advice processing

  • Operational, financial, and analytical reports

  • Accounts receivable and collections module

  • Paper and electronic patient statements

  • Claims scrubbing

Meditab’s Practice Management software was created by a team of physicians. It is easy to use, can be easily learned, and without compromising your clinic’s efficiency, can adapt to the way you work. They want you to focus on delivering quality care to your patients while they increase your bottom line by covering both the administrative and financial processes of your practice.

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DrCatalyst

They know that the medical billing process can be stressful, time-consuming and a major headache. Their team aims to relieve that burden by offering end-to-end revenue cycle management services - from the front desk to the back office, they can help you improve any part of your revenue cycle. You can hand over the RCM burden that you’ve been carrying for years - in return, you’ll be able to spend more time on actual patient care instead of your stacked-up paperwork.

DrCatalyst’s medical software can help any growing practice with their medical billing needs that is why we are in the top 10 medical billing companies. They can provide eligibility & benefits verification, patient statements, payment posting, medical coding, AR management, revenue reports, claims services, charge posting.  

They offer real-time insurance eligibility and benefits checking to help you breeze through patient visits, avoid claim denials, increase collections, and prepare patients for the necessary payments. They make it easier for your patients to get their statements and pay for your services. They can provide quick and efficient patient billing with a remote team that generates electronic patient statements for you. All your staff needs to do is mail them to your patients.

They can record all the payments and reimbursements that your clinic receives. They have impeccable attention to detail and they can automatically post the complete and exact payment information in your electronic health record.  Medical practices can boost their cash cycle and can reduce operational costs through remote billing because DrCatalyst can automate and manage your entire collections process to give you fast, efficient, and automated payments. They can also generate reports for your practice to help you have a better understanding of your financial performance, and make data-driven decisions that empower your practice to earn more.

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eClinicalWorks

They eliminate the hassles of medical billing. Many practices simply don't have the time or resources to take on the challenges of revenue cycle management that exist today. They can help practices overcome some of the most difficult medical billing challenges.

eClinicalWorks is redefining the status quo of the medical billing industry by leveraging technology and they have an efficient process and workflow. They understand that in-office billing can be a burden on some practices which can strain time, money, and resources.

Their Revenue Cycle Management (RCM) services provide an alternative solution. They allow their team of experienced billers to handle back-office operations directly through their application, as secure and as accurate as possible. Dashboards provide authorized users with transparency into the process and visibility into your practice’s financial performance in real time.

They have an integrated cloud-based solution that provides 99.9% uptime, disaster recovery solution which is cost-efficient. Their quick accounts receivable has 98% first-pass acceptance, real-time claim adjunction, built-in claim automation, has six levels of clearinghouse integration, and a centralized work queue.

A few of their RCM services and highlights include:

  • Communication to practice via RCM Console

  • RCM Dashboard within eClinicalWorks

  • Real-time patient insurance eligibility

  • Processing of primary, secondary, and tertiary claims

  • Claim review and scrubbing

  • Updating DB rules

  • Claim follow-up through payer acceptance

  • Denial and underpayment management

  • All payments and adjustments are done directly within eClinicalWorks

  • Appeals at all levels

  • Out of office billing encounters

  • Insurance/Patient payments go back directly to the practice

  • Create self-pay e-statements go back directly to the practice

  • Manage worker’s compensation and other liability claims including auto PIP claims

  • Manage the preparatory steps necessary to send accounts to collections

  • Daily/monthly/YTD financial statements - RCM reports

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AthenaHealth

They regularly update rules engineered to catch claims errors and ensure faster submission which can result to 95% first-pass solution rate. They have a single workflow dashboard that can easily access revenue cycle tasks and patient information.

They can optimize your appointment density with their scheduling tool and can make you connect to your patients through automated reminders. They can collect patient payments easily and can verify patient insurance eligibility for you.

They can access clinical information from disparate sources in minutes, and use secure text messaging to easily make more informed care decisions which can make your clinic more efficient. They can free you from the tasks and tech issues that can disrupt the excellent patient care that you provide with a cloud-based electronic health record and authorization management for practices with a few physicians available. They can process your paper documents and attach them to the correct electronic patient record. You can even save time by securely uploading photos. This way, you can provide faster documentation to your patients.

They have an intelligent workflow because their electronic health record system continuously learns from the network and deliver relevant patient information in the most timely manner. Rest assured, you can rely on the expertise of AthenaHealth’s team and software to monitor changes to federal quality programs on your behalf. They can integrate quality measures directly into your workflow.

AthenaHealth wants you, as medical providers, to deliver the best patient care to their patients and still make it home for dinner. They want you to focus on what you do best while they focus on helping providers do everything else more efficiently.

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AdvancedMD

AdvancedMD’s medical billing software is created completely in the cloud for automating manual processes while increasing your revenue. They have a centralized platform that helps you manage the entire claims process from charge capture to full reimbursement. They can upload claims and download your remittances so you can save time and hassle with their integrated clearinghouse. You can also opt to pay through online payment solutions to transform your uncollected patient payments and help your practice reduce days in A/R.


AdvancedMD’s medical billing claims management tools are made to help you and your practice save time and increase your revenue. Their features replace manual billing processes that automatically scrub, track, review & submit claims on your behalf. Mistakes are inevitable that is why they make sure they are detected long before the denials stage so the claims that you send can be submitted quickly and accurately. This will get you more reimbursements and more revenue with less work.

AdvancedBilling is AdvancedMD’s medical billing software designed to maximize your clinic’s profitability.

A few of AdvancedBilling’s features include A/R control center, centralized billing, built-in payment processing features and more. This medical software platform is the powerhouse that lets you run your entire practice on a single database with just a single login. It’s the drive that can get you and your practice one step closer to a more successful practice.

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CareCloud

CareCloud Concierge is a complete revenue cycle management solution that allows you to shift the heavy lifting around getting paid, so you can focus more on patients and worry less about collections. Modern RCM software and real-time analytics combine with their specialized back-office team to help your practice improve profitability, eliminate administrative burdens, and adapt better to industry change.

You can have your hands on tools that you need for you to deliver better patient care. CareCloud has a complete certified electronic health records from managing patient flow until ePrescribing. Their electronic health record known as Charts can integrate seamlessly with their CareCloud Central. CareCloud also includes patient engagement and clinical reporting tools that can drive better patient outcomes aside from simplifying clinical handoffs.

They can cut your day shorter by working smarter and not harder. You can take quicker and more intelligent actions with time-sensitive, real-time patient information at the point of care. So that your clinic won’t miss any revenue, they can expedite clinical encounters with flexible charting options, reusable order sets, and configurable templates. You easily share content and customize each from user to user to make sure that there is a quick and easy onboarding session.

CareCloud’s Charts features an integrated patient portal to securely engage patients in their own plan. To help improve your clinical, financial, and operational costs, Charts has real-time clinical-decision support tools and advanced analytics.

Some benefits include:

  • Real-time patient flows

  • Practice management integration

  • Rich patient summaries

  • Critical patient information at a glance

  • Patient portal integration

  • Rapid charting with flexible options, order sets, configurable templates

  • Quality initiative reporting

  • Intelligent task management

  • Drag-and-drop scheduling

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PracticeFusion

PracticeFusion has a wide array of simplifying your day-to-day tasks so that you’re reimbursed for the work that you do. They can automate eligibility checks, provide time-saving superbills, give you flexible billing options, and they have a trained billing support team. Aside from that, they also submits more accurate claims. They are ICD-10 certified  that has no extra medical billing software to download or install.

Practice fusion also has smart charting. It minimizes data re-entry with shortcuts and a library of customizable templates built by providers. In addition, it has automatic favorite lists. It reduces the number of keystrokes and clicks in your workday by selecting from a list of frequently used orders throughout the EHR.  PracticeFusion also search criteria using natural language terms and never memorize another code again.

Another feature of PracticeFusion is that it effortlessly connect to local labs, pharmacies, and imaging centers. This help patients get their medications faster. Because of this, it is possible to order from anywhere. Cloud-based e-prescribing lets you manage medication orders, refill requests, and pharmacy communication from any location. One of the most important feature of PracticeFusion is that it simplify administrative tasks and improve billing efficiency. It helps manage appointments as it reduces no-shows automatic patient appointment reminders and speed up check-in with online intake forms. The software also automatically check insurance eligibility. It verifies insurance eligibility from your EHR to help you get paid for the appointments you schedule. Lastly, it never loses a fax with the convenience of HIPAA compliant electronic faxing for your referrals and practice documents.

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Greenway Health

Greenway Health can help boost your performance with their revenue services and clearinghouse services. They can help you collect every dollar you earn. They have an exquisite billing process, hand in your scalable knowledge platform, provide you with a long-term financial focus, and they can give you regulatory transition guidance.

Greenway Health is an expert in the billing process.  They optimize your practice’s billing processes and healthcare technology to efficiently and effectively improve the revenue opportunities you have. They also make sure that they apply solutions from one practice to another to streamline processes and help you discover the methods that work best for you.  Additionally, they help you have long-term financial focus by having an in-depth analysis. They identify trends and tackle the root cause to guide your practice toward attaining your financial goals. Their expertise in fee-for-service billing allows your practice to transition to value-based care to receive incentives and improve your bottom line.

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DrChrono

DrChrono knows medical billing is critical to the financial health of your practice, and their medical billing software is expertly integrated with their EHR, practice management system, and clearinghouses to address all your practice’s billing needs. DrChrono is your strategic partner in achieving higher payment collection, low denial rates, and higher clean claims rates. Their medical billing software can address all your billing needs in a seamless, efficient system, and take ownership of your financial health today.

DrChrono understands that each practice is different. Unlike other electronic health record platforms, DrChrono offers an integrated practice management that can be tailored to meet the unique needs of your practice you have dreamt of and equip yourself with the EHR system that improves patient engagement and their experience. You will soon be able to bypass various redundant tasks and realize significant productivity improvement. DrChrono helps you tackle your practice’s unique challenges and pave the way for your success.

DrChrono’s Revenue Cycle Management can help your practice maintain income stability while simultaneously giving you more time to focus on patients. Their team of dedicated billing experts, in-house coding compliance, and certified medical coders handle the complete lifecycle of your medical claims. With this kind of expertise in your corner, you will see an improvement of clean claim rates, speedy turnaround on denials, and improved cash flow. DrChrono works to take over time consuming tasks while providing high quality services at a fraction of a cost of in-house billing, to allow you to practice medicine and not administration.

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Kareo

Web-based medical billing software from Kareo helps you get paid faster and improve your productivity by automating and streamlining your entire medical billing and collections process. Their service allows you to enter charges, check coding, send insurance claims & patient statements, process credit cards, automatically post payments, print reports, manage denials & collections, load fees & contracts, scan documents, and more.

Kareo helps practices manage the complications involved in insurance billing. Medical staff can enter patient data and verify their insurance claims immediately. It also provides a schedule appointment reminder that helps practitioners schedule appointments with their patients and send appointment reminders to  reduce no-shows. Their built-in messaging feature allows practices to communicate with their billers, patients, and employees. They also have billing analytics, advanced claim processing, document management and agenda planner.

Kareo is a trusted and proven billing technology for independent practices like yours. You can simplify your medical billing and maintain control of your practice. Kareo has ten key points.

  • Comprehensive Agenda - you can get a clear picture of your practice schedule and tasks that needed to be completed.

  • Accurate Charge Capture and Management - you can view and enter charges directly in Kareo’s software so that you never have to miss another charge.

  • Secure Messaging System - Kareo’s built-in secure messaging feature allows you to securely and easily communicate with your medical biller, patients, and even to your employees.

  • Agenda Overview - you can get clear and complete visibility in one glance by displaying the outstanding items that need your attention for the day.

  • Complete Patient and Document Management - you can easily and quickly enter patient information, upload different documents, and verify eligibility.

  • Smarter Insurance Billing and Patient Collections - Kareo can help you stay on top of your patient accounts receivables which can assure you that you get paid with their advanced claim processing, tracking tools, and other features designed to help you.

  • ICD-10 Compliant - Kareo is an ICD-10 compliant and has the ability, features, and tools to help you code correctly.

  • Patient Scheduling and Appointment Reminder Software - you can customize your schedule, manage patient scheduling, and alerts and send appointment reminders to you and your patients.

  • Insightful Billing Analytics - this feature can help you better understand your billing performance by using their insightful billing analytics.

  • Maximize Productivity - you can support your staff and your entire clinic’s workflow including managing patients, uploading documents, and safely and securely sending messages.
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NueMD

NueMD’s electronic health records system is now part of AdvancedMD’s industry-leading electronic health record software. All of their current clients will still get the full-effect of NueMD’s benefits, they are now also eligible for upgrades to AdvancedMD cutting-edge electronic medical records technology.

NueMD’s medical billing software can file accurate claims and see quicker reimbursements. The NueMD clearinghouses files claims directly with commercial and government payers without the need for additional software. Their services include automating scrub claims and make edits before filing, reduce paperwork and confidently store account information in the cloud, record payments from multiple claims and patient tickets all at once, minimize overdue copays with easy-to-understand statements, and track reimbursements and outstanding payments with dozens of standard and hundreds of customizable reports.

With NueMD’s electronic health records software, you can simplify your patient information. You can update patient data in real-time, order labs and prescriptions in just a few clicks, produce practice reports, and rely upon secure data-storage and dependable software. They offer customizable software packages for almost 100 specialties, with their flexible encounter templates, you can customize and incorporate their software to your very own workflow, you can encode patient encounters and visits accurately and precisely, and you can even fully integrate your practice with their medical billing software.

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CureMD

CureMD’s All-in-One Cloud platform integrates Electronic Medical Records with Practice Management, patient portal, and an iPad app to personalize care delivery, increase patient safety, and minimize costs for medical practices of all sizes. CureMD offers practices looking for integrated medical management software an affordable and award-winning solution. Learn more about our CureMD medical management software solutions below.

CureMD cloud-based EMR & PM Solutions support both unique clinical approaches and specialty workflows with a range of features including customizable templates, document imaging (built-in PACS), E&M coding, custom forms, flow sheets, clinical decision support, order sets, patient education, clinical voice recognition and a lot more.

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NextGen

NextGen can consolidate, categorize, and manage billing data, provide vital revenue cycle reports straight into your smartphone, can make you view RCM reports under a single glass pane, they are also very compliant because they can provide 100% data security, and can send you alerts and communicate with billing teams easily.

Their 24/7 NextGen Revenue Cycle Management Process consists of:

  • Appointment Scheduling - they offer a well-organized schedule sequence that map the schedules of different clinical settings of physicians, pharmacists, radiologists, other lab technicians, and etcetera so that they can conveniently perform multiple tasks for each patient in a timely manner.  Their system manages the setup of appointments on a daily, weekly, monthly, and yearly recurring intervals. It would also be effortless for your patients to reschedule fixed appointments should they wish to reschedule.

  • Patient Eligibility - NexGen's software system is designed to present you detailed information on your patients' insurance benefits in an easy-to-read format. The details include patient name, payer name, policy number, patient balance, eligibility status, provider status, effective and term dates, pre-authorization, pre-existing and any comments.

  • Medical Coding - NextGen's EHR solutions offers an ideal support for your practice to overcome the ICD-10 crisis that is very rampant today. Their coding experts have immense stuff to catch every nook and cranny of the ICD-10 guidelines and to place it appropriately in the coding process. Thus, they help improve your reimbursements and foster your practice business.

  • Claims Information - In NextGen, they understand that small and medium-sized practices are usually understaffed and overworked which explains why most claims have a high error rate. With the help of BillingParadise, who works hand-in-hand with NextGen, they send out squeaky clean claims and generate cleaner medical claims, accelerate cash flow, and reduce denials.

  • Claims Creation - NextGen's claim creation module provides the fields to enter the charges, through procedural and diagnostic codes, along with the details of patient, co-pays, unpaid amount, provider name, facility name and date of service that are obligatory to prepare a Superbill with an Internal Claim Number. Also, it enables a checklist-based review. This feature combats any flaw in the claim creation process.

  • Claims Transmission - Nextgen users can transmit their medical claims three times faster. Power and speed up your billing process with our 24/7 Nextgen billing process.  NextGen clients can enjoy these following benefits:

  • Avail of a hassle free BillingParadise's electronic claims transmission process

    • Have expert claim analysts review claims before transmission

    • Work with a biller who understands insurer rules like no other

    • Be assured of a quicker payment cycle

    • Stop worrying about missing claim submission dates

  • Clearing House Transmission - With NextGen's latest EHR technology, it is not impossible to generate HIPAA-compliant insurance claims. Their EHR Solutions and their team submit your insurance claims electronically to insurance payers and supports the CMS-1500, the UB-04, the ADA Dental Claim Form, etc. and, certainly, HIPAA compliance. Custom-built claim formats can also be lodged into their  EHR system.

  • Experienced EOB Posting Experts - NextGen clients can now manage their payments effortlessly. BillingParadise is offering a round-the-clock payment posting and EOB management service. Their staff open the ERA window from the billing band and choose the requisite clearinghouse. They also import and post all the claims into the their EHR.

  • Denial Management - Outsourcing your RCM process to NextGen would reduce your burden in terms of time, technology, revenue and regulations. Their EHR support and RCM service drastically reduces your denials and improves secondary claim sanctions. Their EHR system performs real-time verification and tracks duplicate claims, claims with missing data, expired eligibility, expired time limit, etc. to ward off claim rejections.

  • AR Follow up - They firmly stand beside you to manage your accounts receivables from different ends including patient responsibilities (co-pay, co-insurance, and deductibles), third-party receivables (primary, secondary and tertiary insurances), etc. As well, important documentations like AR summary, AR reconciliation statements, etc. will be automatically generated in their system, along with aggressive AR calling to ensure 100% payment recovery.