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athenaOne
athenaOne
The athenaOne Suite which includes athenaCollector a revenue cycle management solution and athenaClinials an EHR (electronic health records) recently ranked #1 in 2023 Best in KLAS for athenaClinials Ambulatory EMR for 11-75 physi...Read more about athenaOne
RXNT
RXNT
RXNT’s cloud-based, ONC-certified medical software—Billing, Practice Management, EHR, and more—improves clinical outcomes & revenue cycle management. Simple, transparent pricing includes free setup and training, free data transfer...Read more about RXNT
DrChrono
DrChrono
DrChrono’s iPad and iPhone compatible EHR and medical billing platform allows medical practices and healthcare providers to manage patient intake, patient care, clinical charting, billing and revenue cycle management. It includes ...Read more about DrChrono
AdvancedMD EHR
AdvancedMD EHR
AdvancedMD is a unified suite of software solutions designed for mental health, physical therapy and medical healthcare organizations and independent physician practices. Features include practice management, electronic health rec...Read more about AdvancedMD EHR
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Meet Eric, a software expert who has helped 1,534 companies select the right product for their needs.
Talk with us for a free
15-minute consultationSoftware Advice is free because vendors pay us when they receive sales opportunities.
This allows us to provide comprehensive software lists and an advisor service at no cost to you.
This allows us to provide comprehensive software lists and an advisor service at no cost to you.
Tell us more about your business and an advisor will reach out with a list of software recommendations customized for your specific needs.
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ChartLogic EHR
ChartLogic EHR
ChartLogic offers an ambulatory EHR suite that includes electronic medical record, practice management, revenue cycle management, e-prescribing and patient portal. The solution caters to primary care, surgical care and other compl...Read more about ChartLogic EHR
Elation Health
Elation Health
Elation Health is the most trusted technology platform for high-value primary care. Since 2010, the company has delivered clinical-first solutions — built on a collaborative EHR platform — that help practices start, grow, communic...Read more about Elation Health
Compulink Healthcare Solutions
Compulink Healthcare Solutions
Compulink Advantage is an all-in-one database EHR solution for specialty practices such as optometry, ophthalmology, orthopaedics, ENT, mental health, podiatry, and more. Available cloud-based or server, Advantage includes smart f...Read more about Compulink Healthcare Solutions
PrognoCIS
PrognoCIS
PrognoCIS EHR and PrognoCIS Telemedicine have earned a reputation for fast, flexible individual provider workflow. The software package offers a full suite of highly desirable features and functions. PrognoCIS provides a cloud-bas...Read more about PrognoCIS
Nextech EHR & PM
Nextech EHR & PM
For more than 20 years, Nextech has provided a full-featured EMR and Practice Management solution within a single database. This system is a fit for dermatologists, plastic surgeons, ophthalmologists, and physicians, and is used b...Read more about Nextech EHR & PM
ModMed
ModMed
ModMed, also known as Modernizing Medicine®, is an award-winning software company that places doctors and patients at the center of care through an intelligent, specialty-specific cloud platform. Services include electronic health...Read more about ModMed
Practice EHR
Practice EHR
Practice EHR, a medical practice management software, was developed to accommodate the needs of small to mid-size businesses. The platform is customizable to internal medicine practices, chiropractors, physical therapists, family ...Read more about Practice EHR
WebPT
WebPT
Established in 2008, WebPT is the nation’s most trusted outpatient rehab therapy software platform in the country, helping more than 150,000 rehab therapy professionals from all practice sizes and specialties run successful and ef...Read more about WebPT
Nexus EHR
Nexus EHR
Nexus EHR is an ONC Certified 2015 Edition Cures Update cloud-based ambulatory EHR and PM platform. It is designed for small to midsize practices and various specialties including orthopedics, neurology, podiatry, cardiology, gene...Read more about Nexus EHR
CharmHealth
CharmHealth
CharmHealth is a MU certified, cloud-based EHR, Practice Management and Medical Billing solution that helps healthcare organizations ranging from large multi-specialty groups to small independent medical offices function efficient...Read more about CharmHealth
Valant EHR Suite
Valant EHR Suite
Valant’s Behavioral Health EHR and Practice Management Software includes all the tools you need to provide exceptional individual and group care while running a successful private practice. Unlike other non-specialized EMR softwa...Read more about Valant EHR Suite
NextGen Office
NextGen Office
NextGen Office is an award-winning, cloud-based, clinical and billing solution designed for smaller, independent practices (≤ 10 providers). This all-in-one, full-service solution includes specialty-specific EHR content, an easy-t...Read more about NextGen Office
iTRUST
iTRUST
iTRUST is the leading global software provider for optometrists, opticals, eye hospitals, colleges, and enterprise eye health systems. Supported in USA, Canada, UK, Australia, India, South Africa. iTRUST is an all-in-one cloud-b...Read more about iTRUST
Eyefinity EHR
Eyefinity EHR
Eyefinity EHR and Eyefinity Practice Management are a cloud-based, electronic health record and practice management solution designed to meet the unique needs of the optometric industry for single and multi-location practices. ...Read more about Eyefinity EHR
ChiroTouch
ChiroTouch
ChiroTouch is the cloud standard in chiropractic software and the only completely integrated EHR software that can be accessed any way, anytime, and on any device. Easy in Every Way - ChiroTouch is easy to get started, access, le...Read more about ChiroTouch
Liquid EHR
Liquid EHR
LiquidEHR is a cloud-based electronic health record (EHR) solution suitable for small and midsize optometry practices. It offers medical records management, medical billing and scheduling tools. LiquidEHR provides users with ...Read more about Liquid EHR
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Buyers Guide
Last Updated: March 16, 2023While patient care remains a top priority for all medical practices, they are still businesses that need to create profit in order to survive and compete. Being such, high efficiency of billing processes is imperative for medical practices.
Medical billing comprises complex processes involving multiple variables at various levels. These variables could be in the form of manual errors during coding, claims denials from insurers, delays in claims processing at insurer’s end etc. Consequently, this crucial operation can end up consuming resources to the extent that it impacts the top priority of any medical practice.
Fortunately, there are business organizations that take up the responsibility of handling all billing-related processes so medical practices can dedicate solely to patient care.
This Buyers Guide discusses such organizations, known as medical billing service providers, and elaborates on the basic things to know before hiring one.
Here’s what we’ll cover:
What are medical billing services?
Common offerings of medical billing services
Benefits of medical billing services
What are medical billing services?
Medical billing services (or medical billing service providers) are organizations that take care of billing-related processes on behalf of medical practices. These HIPAA-approved services also take over a practice’s claims management, including submission of claims to clearing houses and following up on denied or rejected claims.
Common offerings of medical billing services
The first step toward selecting the right medical billing service provider is to understand their typical offerings. According to our research, the following are the common aspects you should be aware of:
Claims management | Capture, organize, bill, and file medical claims related to patients’ diagnosis, treatment, and medication. |
ICD-10 compliance | Manage the intricacies of ICD-10 cataloging and maintain proper coding compliance. |
Payment processing | Securely and reliably accept payments via different modes, including online and cards. |
Patient visit documentation | Capture patient details during visits and document subsequent procedures such as diagnoses and prescribed treatment. |
Insurance verification | Gather patient insurance information and verify eligibility. |
What type of client are you?
The next step is to understand the types of medical practices that seek out billing services. This knowledge will help you select billing services based on your practice requirements.
Here are the key benefits of medical billing services:
Integrated EHR software users: Several EHR vendors bundle billing services with their software tools. Using services from your EHR software vendor allows you to consolidate EHR functions (such as patient charting, scheduling, e-prescribing, and patient portals) with billing processes at a central point.
Standalone medical billing clients: Some medical practices have complex billing and compliance needs, such as multi-jurisdictional claims management, and they are typically fine with keeping their EHR and billing processes separate. Such buyers can go for standalone billing services from specialized providers.
Benefits of medical billing services
Here are some important points to consider before you finalize a medical billing service provider:
Specialized billing expertise: Medical billing service providers maintain specialized staff to handle billing processes specifically. Their staff undergo regular training and assessment to remain updated on new billing rules and compliances. This helps ensure billing processes with minimal errors and high claims approval rate.
Enhanced patient care: The service provider will free up resources by absorbing your workload, thus allowing you to focus on delivering better patient care.
Key considerations
Even though you might be hurrying to meet GDPR requirements, it is important to consider some of the below parameters when buying GDPR software.
Data ownership: Patient data is highly sensitive and protected by strict regulatory policies. Transferring billing responsibilities also means sharing the responsibility of patient data ownership. Inquire with vendors about data security measures at their end to ensure maximum possible protection of your patient data. Additionally, learn about their data storage and transfer conditions to ensure hasslefree operations in the event you decide to change the service provider at a later stage.
Service level agreements: Despite a provider promising high-quality services, there could be unexpected challenges that hamper your billing operations. Reviewing and negotiating service level agreements will help ensure that your practice is protected against the impact of such challenges.