Selecting the best medical billing software can be tricky.
There are so many different options, and you may not know what to look for in order to make the right decision.
In this article you’ll learn everything you need to know about medical billing software including how long it takes to implement your chosen system, common mistakes doctors make when selecting their own program of choice, and other important factors like cost and software used by medical billers!
Let’s start by first defining what a medical billing software is and then get into the best of the best as well as some frequently asked questions.
What is Medical Billing Software?
Medical billing software is a collection of software and systems that are used to automate the process of processing medical bills, insurance claims, patient payments as well as other vital functions.
The software can be made up of desktop programs (installed on your computer), web-based software or a combination of both.
The most basic form is simply a database system which stores all pertinent information for billing purposes but doesn’t provide any automation capabilities such as sending out statements or invoices automatically etc.
It’s important to know what type you’ll need before making a purchase since it will greatly affect pricing and functionality.
Some third party providers offer call center services where they do some/all work for the doctor – this depends heavily on whether their practice needs more marketing support vs needing help with actually using the software.
Some systems are very basic and require manual input from doctors while others will automatically calculate what needs to be billed as well as provide reminders of when things need to happen such as billings due etc.
These come with their own pros/cons but tend to take up less space in general which can make them easier for small practices on tight budgets.
How long does it take? It usually takes about two weeks at most before staff become proficient with new software, but your experience might be different based on how proficient your staff are and how computer literate they are already.
How much does medical billing software cost?
Depending on the size of your practice and how involved you want to be in managing it, there are a number of pricing models available.
They range from one-time upfront costs with monthly fees for ongoing support all the way up to yearly or even permanent licenses with no set-up cost but higher per month fees.
In terms of time spent billing, medical billers do not need software at all as they usually work mostly by hand.
If anything this is just an administrative role that helps doctors stay compliant (such as ensuring bills get sent out) so some may prefer to manage without software if their office doesn’t use it already!
What software do medical billers use?
Here are the Best Medical Billing Software of 2021:
PracticeSuite is a program for medical practices and third-party billing companies.
It’s good for both small and large businesses with its patient friendly features like scheduling, check in, kiosks online reviews.
The EHR records your health details nationwide to connect you to labs pharmacies the Patient portal HIE networks
Starts at $49 a month.
Full pricing can be found here.
Kareo is a Web-based program that helps doctors and clinics with billing.
This system is suitable for small clinics and doctors without their own office.
Kareo pricing information can be found here.
WebPT is an online application that offers many different types of therapy and can be used by clinics.
WebPT has a 99.99% uptime rate, which includes things such as documentation, practice insight reporting, custom evaluation templates and compliance safeguards for therapists to use in their practices (EMR).
Starts at $3 a day.
Full pricing can be found here.
CollaborateMD is software that helps doctors and people who do billing.
Doctors can use it to make sure everything they submit for payment gets processed correctly, which reduces paperwork on their end as well as the chance of being denied from a payer’s side.
Drchrono strives to help medical practices get the most out of their client’s data.
DrChrono offers customizable forms, an app directory with e-prescribing and scheduling tools for other apps that can be used in conjunction with it.
Starts at $194 a month. Full pricing can be found here.
Doctors can use CareCloud Charts to help with their work.
It will collect records about your health and make sure that you do not have paperwork, benefiting both the doctor’s efficiency in focus on patient care as well as reducing paperwork for patients who need assistance accessing medical information or making appointments.
Contact CareCloud for pricing information. You can find their contact details here.
ResolvMD is an experienced full-service medical billing company that processes all health service claims (AHCIP etc.) on behalf of physicians. ResolvMD goal is to make physicians as confident and competent in their billing as they are in their practice through surfacing data-derived insights and democratized knowledge. ResolvMD have the most modern, cost-effective, and secure platform on the market for processing claims.
ResolvMD physician’s insight portal is a first of its kind product that allows physicians to understand data in real time and use it to make more informed decisions around billing and their practice. It’s the most modern, secure and intuitive product on the market.
ResolvMD have 10+ years experience in the space and know billing inside out. ResolvMD prioritize secure handling and storage of patient information, thus managing a major source of liability for physicians.
Cofounded/Backed by physicians who deeply understand the problems facing physicians and how to deliver better value.
ResolvMD use data science and machine learning to produce meaningful practice changing insights. ResolvMD are integrated with Connect Care for seamless, paperless billing. They focus on automations and integrations allow us to offer our services at an incredible price point. The whole enterprise is based on trust, accountability and transparency through a real time ResolvRate. They offer full visibility for physicians who want to know what is happening and whether we are doing our job right.
Each of these applications offer their own features that are unique to them, so you will want to review what they can do for you and your practice before you jump in and make a decision.
Pricing and Website Info:
- Paperless Full Service Billing starting at 0.69% of Paid Claims
- Standard Full Service Billing starting at 1.19% of Paid Claims
- Business Group/Clinics have Custom Pricing options
What are the 3 different types of medical billing software?
In the medical industry, there are plenty of examples of things not going according to plan. One key way is through using outdated or inefficient medical billing systems.
Medical billing has 3 basic types: closed, open and isolated.
Closed means all data must be stored by one company; open means companies buy access into an existing system from another provider.
Isolated refers to providers who have their own private records in-house which they manage themselves without any external assistance whatsoever!
Which type will work best for your clinic?
A closed system is a practice that focuses on one singular medical billing.
The biggest example of this type of system would be using electronic data to store your patient’s records and information, Electronic Medical Records or EMRs for short.
While the old-school version was paper charts, they are now combined with other types of records in modern practices today like an urgent care facility for instance.
A closed system means that it doesn’t allow transfers from another doctor or healthcare facility such as labs.
Nowadays however we use something called Electronic Medical Records (EMRs) instead which can still be used at home but also combines easily into facilities like clinics or hospitals so there isn’t too much of a hassle.
Open systems are a fantastic way for information to be shared and transferred across healthcare professionals, practices or facilities.
For example, using an open medical billing system means being able to access all of your patient’s records from any location with internet connection–even if you’re not the one who wrote them!
It also helps keep everything organized as well since it integrates seamlessly into nearly every other electronic health record such as EHR’s (Electronic Health Records).
Collaboration and communication are important for effective and accurate billing in medical billing software.
There are some that keep it closed because they don’t want anyone else accessing their records, but this can come with a risk of violating HIPAA laws.
The benefits of an isolated system is that it gives the patient direct control over their health information.
Personal Health Records store all healthcare records and are designed, managed, and used by the patients themselves.
This means they can manage what happens to them in a way that works best for them without worrying about whether someone else will know how to use or access those types of documents when they need medical care later on down the line!
Patients can use their PHRs to fill out medical practices’ official records.
However, this requires open communication between the software and is not often used because it’s illegal for a patient with an individual plan like a PHR to replace healthcare records.
Outlining your medical billing system will help you decide on the type of outsourced coding and/or software to use.
When narrowing down what systems are best for your practice, consider various factors such as records keeping preferences or even needs in certain departments where staff may be lacking expertise.
Certain technologies can also offer better security measures than others with specific laws concerning electronic protected health information (ePHI) that adhere to HIPAA regulations.
Why Medical Billing Software is Important
Medical billing software is important for medical practices because it’s essential to the daily operations of a business.
Medical billing software allows doctors and staff members to process insurance claims, generate patient statements-and even submit reports!
Without this vital program in place, your office would be stuck doing everything by hand which means you’ll have more time spent on clerical work and less time with patients.
The benefits of using medical billing software are significant; there’s no reason not to invest in a system that will save you both money and resources.
How do you know what questions to ask before choosing your next billing software solution? Keep reading to find out!
Questions you should ask before choosing:
- How much will a medical billing software system cost?
- How long will it take to roll out a new system and for you to get used to using it?
- What are the different types of billing systems available in today’s market?
- What are some common mistakes that doctors make when choosing a new medical billing software system for their practice?
- Do I need an accounting department if I use medical billers or should my office have one already on staff (or both)?
What features should you look for in Medical Billing Software?
There are so many different types of medical billing software available and the system that you choose will have a huge impact on your practice.
What Should You Look for in a Medical Billing Software Solution?
In the following section, we’ll talk about some criteria to consider when looking for medical billing software:
Is it easy enough for staff members to use without having any prior knowledge?
Is there an intuitive user interface with tabs and dropdowns rather than links or buttons?
Can users customize their views so they can focus just on information relevant to them (e.g., by only seeing balance due info)?
Are patient records accessible from anywhere using mobile devices like smartphones or tablets, even in offline mode if internet connection drops out?
Does it have a mobile app available?
Ease of Customization
Does the software allow you to customize fields, reports and other views according to your business needs or preferences?
Integration with third party services
Do they integrate well with patient management systems like Epic (from EPIC Systems) or NextGen (MDVIP)?
Can it be integrated with electronic medical records providers such as Practice Fusion (practicefusion.com), athenahealth’s cloudEMR platform, etc.?
User Interface/User Experience
Is it easy for staff members in different roles across the practice to use and understand?
Does the system provide real time alerts on key information that need attention right away?
Are there any training materials available for people who are new to
What is the Best Medical Billing Software and How do you Decide Which One is Right for You?
Every practice is different and has different medical billing needs, so it’s important to take into account what you need for your practice when choosing a new system.
Here are some questions to consider when deciding which one is right for you:
- Do you currently work with another software provider? If so, does the medical billing software integrate well with that other vendor or do they have an easy method of exporting data from their current system and importing it (or converting it) into the new one?
- How many providers are in your practice – orthopedics, primary care doctors, hospitalists? Is there any reason why a specific type of doctor would be more reliant on a certain kind of software than others (e.g., if some providers see patients mostly by themselves while others are part of larger groups)?
- What scale of patient volume does your practice see?
- What particular features and functions are most important to you (e.g., the ability for a provider to create an order on one screen, populate it with information from various places in the EHR system)?
- How much do medical billing software cost? Pricing can vary significantly depending on your needs and volume of providers. Some systems might have a flat fee per month while others will charge based on how many staff members they think you’ll need at any given time.
There’s no way to know which is better until after speaking with their sales team or reviewing pricing charts online: understand what each package includes before making that decision – some packages include things like webinars, training sessions, additional help desk hours,
Why use Medical Billing Software?
In order to operate efficiently, medical billing software is an essential business tool.
Furthermore, it can simplify your costs and help you understand how your money is spent.
Medical Billing Software manages all aspects of the bill cycle by automating tasks that would otherwise be time consuming for staff members (e.g., waiting on providers to complete their progress notes so they can send out claims).
The use of medical billing software helps manage cash flow because it improves accuracy, provides faster payment times from insurance companies, assists with tracking discrepancies in payments received vs paid, monitors charges incurred for each patient visit or service provided and much more!
You’ll have better knowledge about what needs to be billed and what has already been billed.
Improved Patient Care
Medical Billing Software helps doctors’ offices provide better patient care by ensuring that the right doctor sees the right patient at their scheduled time, and doesn’t see other patients for whom they are not qualified to treat.
You’ll be able to spend more time with your patients because you will have a medical billing software system in place that automates many tasks on your behalf!
This is how medical billing software can help you practice medicine smarter.
Medical billers use a variety of billing systems depending upon where they work as well as what type of services or products their company provides.
For example, if an organization has multiple locations it may require a multi-license that will be more expensive.
The medical billing system is the first thing you might think of when someone mentions medical software because it’s so important to a doctor’s office.
To use this type of software, your staff will input patient information in an electronic format and then assign different types of billable activities (examples include diagnostic tests or procedures) for each patient visit.
A comprehensive medical billing system can also ensure that insurance claims are processed quickly without errors by identifying possible coverage gaps before submitting the claim, all while working seamlessly with other systems like scheduling and laboratory management software!
How Long Does it Take to Roll Out a New System and Get Used to It?
This depends on the training that your staff receives.
The level of experience that your staff has with working on computer systems will also determine how quickly they will be able to become proficient with a new system.
How long it takes for your staff to learn the new software and how often you need them on-call also factors into this timeframe!
The average time that medical billing professionals say is needed before someone can confidently work in a system without needing help from others, is approximately three months.
Resources for training:
- How to use the software, including time spent with a dedicated support team or other resources during implementation and after launch of new system;
- Number and type of online tutorials that are available;
- Length of time it takes for users to learn any specialized terminology from medical billing software’s industry (e.g., ICD codes);
- Availability of customer service representatives who can answer questions on an ongoing basis.
A vendor should provide you with all this information before deciding if they’re the right fit for your needs!
In some cases, as much as two weeks may be required in order to become proficient enough at using what seems like “simple” tasks, but are still time consuming.
What are the Basic Errors Doctors Make when selecting a New Billing Application?
There are so many considerations that you need to think about when choosing the right software for your practice that it is very easy for it to go wrong.
But, there are also a few very common mistakes that doctors and medical professionals make when choosing the right software system.
- Sticking with one vendor for too long without comparing to others;
- Not looking at your future needs now (or even in just a year or so);
- Having no idea what you need – not knowing about EHRs, ICD codes, billing rules and regulations that your new medical billing software must comply with. This leaves you vulnerable to scams from less reputable vendors who may be able to provide something else but can’t meet all of your needs;
- Consideration of whether it’s necessary for staff members outside of medical practice to access the system as well. If this is the case then you need to consider security and the need to train them on how to use it;
- How much does medical billing software costConsidering hiring a consultant who can help you with your selection process. They will be able to determine what types of software are most appropriate for each doctor’s needs, as well as make sure that all requirements necessary for compliance are met.
Your medical billing system is an important part of running your business or practice, so choosing the right one is vital in order for you to retain current patients and attract new ones.
But there could be some common mistakes made when doing this which lead people down a bad path: sticking with just one vendor without considering others, not looking into future needs now (or even just within the next year), having no idea what they’ll need
Conclusion: Choosing the Best Software for Your Medical Practice
Conclusion paragraph: Choosing the right medical billing software can be a tough decision for doctors, but it doesn’t have to be.
The first step is researching what features you need and want in your system and then looking at which providers offer those options.
From there, consider how much training will be required before you are confident using the new system – some systems require more work up front than others do.
Once that’s done, compare costs of different packages or individual modules with corresponding service levels from each provider.
Finally, ask yourself if this new system will integrate into other components of your practice seamlessly – like an electronic health record (EHR) or scheduling tool?
Doctors who implement a new medical billing software often find themselves becoming proficient faster because they’re able to let the system worry about the billing while they concentrate on their practice.
Doctors who want an easy way to keep up-to-date on all patient information may prefer electronic health records (EHR).
Additionally, practices with difficult or complicated billing requirements might find outsourced coding or specialized systems more applicable than general ones like those used by internal staff members.
We hope you have found this useful in your quest for a new software application.
We believe it is imperative that you have the best Medical Billing Software for your needs and are always here to help with any questions or concerns!