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
8.2
TheraOffice

TheraOffice

0reviews
Starting Price:$125 / user / per month

TheraOffice is the only EMR and Practice Management Software designed by physical therapists everywhere to be the most adaptable to your unique business.

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WH Score
8.1
e-MDs

e-MDs

0reviews
Starting Price:N/A

Founded in 1996 by Dr. David Winn, e-MDs RCM is part of an integrated online EHR. The foundation of the system is e-MDs clinic which was first launched in 1998 and over the years has grown to encompass a network of more than 30,000,000 patients, 55,000 users, over 40 specialties, and more than 17,00...

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WH Score
8.0
NowMD

NowMD

0reviews
Starting Price:$349 / user / per month

NowMD is an advanced Medical Insurance Billing software published by Inborne Technology Corporation. The software is designed for adoption in diverse healthcare setup and supports billing and revenue collection both electronically and by paper. It also supports specialized electronic claim forms for...

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WH Score
8.0
Benchmark

Benchmark

0reviews
Starting Price:N/A

AntWorks Healthcare is much more than a typical technology provider. Like you, we have a passion for care. We’ve made it our mission to help physicians and healthcare providers practice medicine more efficiently. Our fully-integrated suite of solutions, which includes AntWorks Electronic Healt...

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WH Score
7.8
PrognoCIS

PrognoCIS

0reviews
Starting Price:N/A

The PrognoCIS billing and revenue cycle management solution benefits from the very large experience base the company has built up in this domain. This allows them to reduce the payment cycle, improve returns and eliminate unnecessary work.  With expert help handling billing, medical practices a...

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WH Score
7.8
Quanum

Quanum

0reviews
Starting Price:N/A

Quest Quanum RCM is a complete medical billing and revenue cycle management solution for medical practices of varying sizes. The basic premise of the service provider is to take over all medical billing related issues and let the practices focus on their patients. A backend team of dedicated claim m...

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WH Score
7.5
Greenway Health

Greenway Health

0reviews
Starting Price:N/A

Greenway Medical Billing starts with the premise that medical billing should take a proactive approach to managing the revenues of a clinical practice. Far too often, clinics take a passive approach to managing their revenues and wait for a claim to become overdue or be denied before they take actio...

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WH Score
7.5
iSalus

iSalus

2reviews
Starting Price:N/A

iSALUS EHR is a comprehensive medical solution that offers electronic health records, practice management and billing systems, all in one package for healthcare and clinical practices. The feature list is comprehensive resulting in a flexible and easy-to-use solution that&nb...

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WH Score
7.4
NextGen

NextGen

0reviews
Starting Price:N/A

Practices that use the NextGen Revenue Cycle Management solution see an 81% decrease in A/R days and achieve net collections of close to 98%. The solution’s first pass claim rate is as high as 97% and overall revenue increases by about 4%. The software offers a unified billing and collection s...

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WH Score
7.3
My Clients Plus

My Clients Plus

0reviews
Starting Price:$29 / user / per month

Practice management made easy. Everything your practice needs to run smoothly. From Therapy Notes to Electronic Billing, My Clients Plus has you covered.

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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.