Medical Practice Management Software

What is the best Medical Practice Management Software?

Medical Billing software is a suite of tools that help hospitals, clinics, and private health practices automate billing processes. Using medical billing software can ensure that all revenue is accounted for an optimized and also improve reimbursement rates and the overall financial health of a medical business. Medical billing software can verify insurance coverage quickly and help streamline claims and improve payment workflows and speed.

The main features and functionality included in Medical Billing software are:

  • Appointments & Scheduling
  • Patient Registration & Insurance Eligibility Check
  • Claim Generation
  • Claim Submission
  • Claim Management & Follow-Up
  • Clearinghouses
  • Coding and Claim Automations
  • Data Security & Privacy
  • Easy-to-Use Interface & Features
  • Credit Card Payment Processing
  • Statements & Collections
  • Reporting

The benefits of Medical Billing software are:

  • Minimize Paperwork, Manual Work, and Errors
  • Make Patient Information More Accessible
  • Improve Claim Tracking
  • Enhance Financial Reporting 
  • Streamline Coding
  • Improve Patient Care with Payment Ease

Historically, medical practice software fell into a few different categories: Practice Management, Electronic Health Records (EHR), and Medical Billing Software. While many software vendors still offer point solutions that practices can implement separately and integrate into all their other systems, there’s been a shift toward all-in-one solutions. 

Small practices often opt for a stand-alone medical billing or RCM solution. These are often online or web-based, and very easy to acquire and use. No complex servers or databases need to be set up and managed. Payment generally is based on a percentage of collections: if no money is collected on a bill, the service provider does not get paid. Large practices tend to acquire software solution packages that include medical billing, practice management and EHR/EMR. 

Many practices are not keen to outsourcing medical billing because they don’t want to relinquish control of their medical billing or disclose revenue to a third-party. The medical billing software solutions available on the market today make it possible for medical professionals to easily manage all the components of billing internally, from claims and billing to online payments and interactive patient portal. 

Medical Billing software can be used as a stand-alone service or as part of a larger suit of tools, so it's important to understand business needs and what tools will benefit your practice most now and as it grows in the future. 

Top 10 Medical Practice Management

AdvancedMD / AllegianceMD / Allscripts / athenaOne / Quanum / CareCloud / Benchmark / ChartLogic / Cortex EDI / CureMD

WH Score
9.9
WRS Health

WRS Health

0reviews
Starting Price:N/A

WRS Health Revenue Cycle Management solutions claim to have the lowest denial rate in the country.   The backend database of the solution is built to automatically capture charges and create accurate claims. Encounter notes automatically help create a claim and the user simply has to press...

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WH Score
9.9
Allscripts

Allscripts

0reviews
Starting Price:N/A

Focusing on what they call the “financial health” of your bottom line, Allscripts Revenue Cycle Management solution delivers great value for medical practices. It is an end-to-end solution that uses the latest technology to automate and create a high-quality workflow that minimizes opera...

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WH Score
9.9
AllegianceMD

AllegianceMD

0reviews
Starting Price:N/A

AllegianceMD offers a large and comprehensive suite of medical practice management solutions, one important component being its medical billing module. The solution claims to make extensive use of artificial intelligence to ensure claims are generated correctly and checked comprehensively. The solut...

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WH Score
9.8
AdvancedMD

AdvancedMD

0reviews
Starting Price:N/A

More than 500 billing service providers use the AdvancedMD Medical Billing solution. The solution allows practices to manage their entire claims processes from a single portal. Many manual processes are converted to automated ones, markedly improving workflow. The ClaimsCenter module creates automat...

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WH Score
9.6
ADSC

ADSC

0reviews
Starting Price:N/A

MedicsRCM is a cloud-based revenue cycle management service that claims to have an amazing 99% first attempt success rate on claim processing.  The solution has evolved over the years and is now used to handle millions of claims annually. Unlike many other companies that handle RCM for their cl...

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WH Score
9.4
CareCloud

CareCloud

0reviews
Starting Price:N/A

The CareCloud Revenue Cycle Management system is a cloud-based solution that is built with the specific aim of letting medical practices focus on their patients rather than on payments. The ideology behind the solution is to prevent any denials from occurring in the first place, rather than correcti...

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WH Score
9.4
eClinicalWorks

eClinicalWorks

47reviews
Starting Price:$499 / user / per month

eClinicalWorks is a Revenue Cycle Management (RCM) application which largely taps into the unlimited potential of cloud-computing. Its publisher is a leading cloud-based EHR boasting over 115,000 providers and 800,000 medical professionals. eClinicalWorks Grid Cloud keeps patients and practice data ...

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WH Score
9.3
Kareo Billing

Kareo Billing

0reviews
Starting Price:N/A

Kareo Medical Billing works with about 30,000 medical practices, and the medical billing solution is based on the experience gained and best practices learned from these clinics. With such an experience base, the company knows where the bottlenecks are in the billing process, and how they can be iro...

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WH Score
9.3
athenaOne

athenaOne

0reviews
Starting Price:N/A

The athenahealth medical billing solution is completely rules based and learns with every denial. In case of a denial, the system works with administrators to create a new rule to ensure that particular denial does not occur again. The result is an improving curve on payments. athenahealth medical b...

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WH Score
9.1
Nextech

Nextech

0reviews
Starting Price:N/A

The Nextech Revenue Cycle Management (RCM) solution is built to cater to just three kinds of practices: dermatology, ophthalmology and plastic surgery. With this close focus on just three specialties, one expects all nuances of the specialties are well understood, and the software reflects that. The...

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Learn more about Medical Practice Management Software

What is Medical Billing Software?

Medical Billing software is a suite of tools that help hospitals, clinics, and private health practices automate billing processes. Using medical billing software can ensure that all revenue is accounted for an optimized and also improve reimbursement rates and the overall financial health of a medical business. Medical billing software can verify insurance coverage quickly and help streamline claims and improve payment workflows and speed.

How Much Does Medical Billing Software Cost?

Medical Billing software costs anywhere between $25 to $100 per user, paid monthly or annually. Some systems may also have setup or licensing fees to consider and build into a budget overall as well.  

Why is Medical Billing Software Important? 

Medical billing software is important because it provides health professionals with the tools they need to streamline billing and make sure that accurate billing and coding are in place. This ensures that patients are billed properly and helps expedite claims and insurance payments to keep medical centers financially healthy. 

What are the Common Features of Medical Billing Software?

The common features of Medical Billing software include:

  • Appointments & Scheduling
  • Patient Registration & Forms
  • Claim Management
  • Coding and Claim Automations
  • Data Security & Privacy
  • Easy-to-Use Interface & Features
  • Credit Card Payment Processing

What are the Main Types of Billing Systems in Healthcare?

The main types of billing systems in healthcare are light-level services, full-service, and boutique offerings. 

What are the Benefits of Medical Billing Software?

The benefits of Medical Billing software include:

  • Expedited, improved claim management and tracking
  • Better access to patient data and charts for accurate billing 
  • Improved standards of patient care
  • Enhanced financial analytics and reports
  • Reduced paperwork and errors
  • Streamlined medical coding and billing processes and automations

Who Uses Medical Billing Software?

Healthcare providers as well as medical billing companies use medical billing software to automate and improve coding and billing processes. 

How Might Billing Software be Used in a Medical Office?

Medical billing software is used in a medical office to minimize billing errors and claim issues while improving the patient experience. Medical billing software helps automate coding and billing processes improve accuracy and expedite insurance payments as well. 

What are the Challenges with Medical Billing Software?

The challenges with medical billing software include:

  • Educating and Informing Patients
  • Accurate and On-Time Payments
  • Payment Processing & Access
  • Customer Support Quality
  • Claim Filing
  • Claim Denials
  • Resources & Tools

What are the Biggest Challenges in Medical Billing?

The biggest challenges in medical billing include:

  • Properly informing and educating patients about insurance coverage and payments.
  • Accurately calculating estimates of patient financial responsibility for health services.
  • Delayed payments or patients who are not able to make payments.

How to Buy Medical Billing Software?

You can use the following checklist as a guideline for how to buy medical billing software for your hospital, clinic, or private practice.

  • Establish a specific list of required features and billing capabilities you can use to compare vendors accordingly.
  • Make sure the solution can handle your kind of practice and/or specialty.
  • Check for ease of use, and robust and efficient billing options and claims tools
  • Look carefully at reporting features: the tool should help you boost the practice’s performance across functions.
  • Confirm compliance and security.
  • Make sure enough support and training are provided by the vendor.
  • Decide which deployment best fits your practice’s operations.
  • Validate the vendor's reputation.