The Best Medical Billing Services (2024) to grow your practice

The intricacies of the medical billing process can be quite labyrinthine, involving a multitude of entities and stakeholders, including payers, clearinghouses, and the cumbersome task of managing rejections and denials. This convoluted system often forces medical practitioners to endure extended waiting periods, sometimes spanning weeks or even months, before they can reap the financial rewards for the services they’ve rendered to their patients. It is these very factors that can result in substantial financial burdens and significant challenges in maintaining a healthy cash flow. For these reasons, engaging the services of the “Best Medical Billing Services” becomes not just an option but a necessity for healthcare providers looking to streamline their revenue cycle and navigate the complexities of medical billing with greater ease.

RCM services, which are also known as medical billing services, can help with these problems. When these services are outsourced, they take care of some or all of the medical billing needs of a practice. They also take care of billing patients and insurance companies. They make sure that the patient’s part of the bill is paid correctly, which makes office staff’s jobs easier. These RCM services do their jobs with the utmost precision and care, reducing the chance of mistakes caused by bad record keeping that could lead to lost revenue.

Best Medical Billing Services Comparison Table

SimplePractice

SimplePractice is a cloud-based practice management system that was made to make running a private practice easier when it comes to business. Our HIPAA-compliant software is easy to use and helps health and wellness professionals automate day-to-day tasks like scheduling, processing payments, documenting, and more. Key features include free, unlimited appointment reminders, insurance claim management, online appointment requests, and a Client Portal to make it easier for clients to talk to you.

Through the Client Portal, you can send paperless intake forms. This makes it easy for your clients to read, sign, and pay for them all in one place. Clients can ask for a time that works for them by using the online appointment requests feature. You can say yes or no to any request from there.

TheraNest

TheraNest Mental Health is a web-based tool for managing notes, billing, and scheduling for psychology and mental health practices, independent practitioners, teaching and educational centers, and non-profit organizations. The product can also be accessed through an Apple app that lets users sign documents right in the app.

CureMD

CureMD is a certified cloud-based health information system that helps doctors and office staff run their practices. It has features like electronic health records (EHR), practice management, a patient portal, and revenue cycle management.

The platform makes it easier to manage appointments, schedules, bills, charts, claims, e-prescriptions, patients, treatment plans, and more. With streamlined systems, medical offices can save time and make the most money possible.

AthenaHealth

AthenaHealth’s goal is to help healthcare organizations meet and beat their financial and clinical goals. They do this by working with practices of all sizes to form partnerships. Through their cloud-based platform, they give them their knowledge, technology, and insights.

But claims coding is not part of their services. You will have to do this yourself or hire someone else to do it. It’s one reason why their solutions might work better in hospitals or larger practices. Most large hospitals and clinics have medical coders on staff.

DrChrono

As part of its EHR and practice management suite of services, DrChrono Medical Billing also offers a solution that works together. Like AdvancedMD, DrChrono lets practices decide whether to outsource all billing or do it themselves. It also allows for hybrid approaches based on the number of patients, which could be especially helpful for smaller practices that aren’t sure yet if they need a full revenue cycle management (RCM) service.

The ability to make sure that the same billing codes are always used for the same procedures is a great feature. It’s also easy to set up profiles for ICD-10, CPT, HCPCS, and NDC. Form filling is also automated, so once you’ve made your clinical notes and set up billing in DrChrono, your HCFA 1500 forms will be made for you.

CareCloud

If you need a good medical billing solution, CareCloud is a good choice. Where they really shine is in how they adjust their pricing tiers to fit your practice. It doesn’t come in just one size. CareCloud changes your bill based on how often and how complicated your claims are.

With CareCloud, you’ll pay less than the average percentage of your monthly bill, but you’ll have to pay some big fees to get started. CareCloud has a good EMR system that you can use with your biller if you want to.

AdvancedMD

AdvancedMD’s high FPAR is because all of its billing team members must have at least one year of experience, and many of them are certified medical coders. These experts are more than qualified to check your claims and make sure they have as few mistakes as possible. Still, you’ll have to do the work to get your claims into AdvancedMD’s system, since its billing services don’t include charge entry or coding.

If your claims are denied, which is rare, AdvancedMD will do all the work to get them paid. This takes the pressure off your staff so you can focus on giving care. We also like that AdvancedMD will follow up with payers or patients who haven’t paid their bills yet.

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