Top Medical Billing Services
Billing for medical care is crucial for every medical practice to stay in business. Next to providing the best care possible for patients, medical billing comes in at a close second of other top priorities.
Known to be a top challenge for most practices, in-house medical billing can be a tedious responsibility. So many medical practices are looking to use a medical billing service to help with this duty.
There are numerous top medical billing services to pick from. And every practice has their own needs.
We aim to help narrow the search for those considering medical billing services, especially for small to mid-sized medical practices.
TOP 9 MEDICAL BILLING SERVICES FOR SMALL TO MID-SIZED MEDICAL PRACTICES
- AdvancedMD Medical Billing
- AthenaHealth AthenaCollector
- Cerner Medical Billing
- eClinicalworks Billing
- Greenway Health Medical Billing
- Kareo Managed Billing
- Modernizing Medicine (ModMed) Boost
- NextGen Financial Suite Pro
Consider outsourcing your medical billing, or revenue cycle management (RCM) to one of these top nine medical billing services. Stop worrying about your billing which can be a significant undertaking, and make a move towards lightening the load for your in-house staff.
AdvancedMD Medical Billing
Looking for an affordable, flexible and effective medical billing service? AdvancedMD should be a contender.
AdvancedMD medical billing service provides you with full visibility into your financials and helps set you up for success. They pride themselves of the transparency they provide to their customers. They aim to make it as easy as possible for customers to understand the wealth of reports and analytics that are available.
The medical billing services provided by AdvancedMD go way beyond just processing claims. AdvancedMD does all the leg work needed to appeal denials, manage rejections and numerous other tedious tasks needed to run a practice.
Take a closer look at AthenaCollector as the medical billing service / RCM has a 93% first pass resolve rate.
AthenaCollector is more of an automated service. This makes it a great fit for small to mid-size practices looking for some help but not looking for the complete package from a third party medical billing service.
Finally, Athenahealth was awarded the 2020 Best in KLAS Ambulatory RCM Services title.
CareCloud provides a full-services Revenue Cycle Management (RCM) service called CareCloud Concierge. They tout their performance analytics and back office team specializing in RCM to help practices spend more time on caring for patients and less time on collections.
CollectiveIQ is CareCloud’s library of over 180m automated rules on billing that help provide stellar resolution rates.
Lastly, they provides an assortment of CareCloud pricing plans to fit the different needs of any practice.
Cerner Medical Billing
Cerner brings a reputation for outcomes making them a powerhouse in the industry. They work hard to live up to this.
Take notice that some of Cerner’s advanced features may be thought of as challenging. These advanced features may require extra training and experience in order to achieve the best outcomes.
eCW offers medical billing services at 2.9% of monthly collected revenue. This is meaningfully less compared to other external billing services that may charge anywhere from 5% to as high as 12%. This can be significant to your bottom line.
Greenway Health Billing Services
Offering ideal solutions for small to mid-sized practices, Greenway Health offers competitive Greenway EHR pricing, yet they can also help with medical billing services. They also promote Greenway Revenue Services and Greenway Clearinghouse which can help your practice collect every dollar possible.
Greenway says, “We have a solution for every challenge”. They are laser focused on meeting the needs of their small to mid-sized customers.
Lastly, Greenway Health was named the 2020 Frost & Sullivan winner of the North American Ambulatory RCM Customer Value Leadership Award.
Kareo Managed Billing
Kareo was designed with independent practices in mind. They have a strong billing software, but they farm out the managed billing services to a variety of vetted partners. Kareo can help set up your practice with a medical billing partner that best fits your needs, including specialty practices.
Being able to simplify the billing process is one of Kareo’s key claims. And as one can imagine, simplification should lead to faster reimbursements.
Identify ways to optimize the revenue of your practice by applying Kareo’s robust billing analytics.
Finally, their pricing is very competitive. But it is worth noting that there is an implementation fee.
Modernizing Medicine Boost
What makes Modernizing Medicine (ModMed) Boost so successful? It is a combination of their Practice Management Software and their Business Operations Services.
Modernizing Medicine wants to get to know your practice and understand its unique processes. This will allow for them to develop strategies that will drive cost savings and efficiency that will work for your practice. Plus, Modernizing Medicine pricing offers a ton of value making it worth it.
NextGen Financial Suite Pro
There are three tiers of Practice Management solutions offered by NextGen. They offer their Financial Suite, Financial Suite Plus and Financial Suite Pro which is a holistic medical billing and collections support service.
The NextGen Financial Suite Pro solution provides state-of-the-art technology and esteemed professional services, which can help your practice attain financial success.
Looking to spend less time on the hassle of billing and more time with your patients? NextGen should bee one of your top considerations. And with NextGen EHR pricing being quite competitive, take a look at their EHR offering as well.
IN CLOSING: CONSIDERATIONS FOR SELECTING A MEDICAL BILLING SERVICE
There is much to consider when shopping around for a medical billing service.
Think about the needs of your practice and the specific areas you need the most support in. If cash flow is a concern, it could be worth looking at medical factoring which is a financing alternative.
There is a variety of different features and pricing options out there which make the selection process appear complicated. Consider comparing quotes from several vendors that offer medical billing services to make sure you are getting the whole picture.