Managing financial medical processes can be difficult for practices due to ever-changing healthcare protocols and guidelines. To meet these challenges healthcare providers need to rely on a robust medical billing software platform that handles claims management, payment processes, and verifying patients’ insurance. Clinicians also have the added burden of completing these cumbersome financial tasks on time and also maintain focus on patient care.
Medical billing software helps to reduce and eliminate paperwork by automating daily processes. The billing software has revolutionized how medical practices handle end to end financial procedures with maximum efficiencies by minimizing administrative workload. The most powerful and popular medical billing software features and tools include.
- Claims Management
- Insurance Verification
- Payment Processing
- Denial Management
- ICD-10 Compliance
The software system can either be purchased as a stand-alone solution or can be an integrated part of your EHR software system. There are several medical billing software vendors but we have evaluated all billing solutions and have shortlisted the software systems that offer the 5 most popular medical billing software features.
- AdvancedMD EMR Software – AdvancedMD offers EHR software, medical billing software, and practice management (PM) software solutions to its users. The billing functionalities of the software system include; claims scrubbing, compliance tracking, mobile payments and billing analytics and reports. AdvancedMD medical billing platform has an integrated clearinghouse that does not require a physician to upload claims and download remittances. Users of the robust platform say that the billing feature can track current and past payment details.
- drchrono EHR Software – The robust cloud-based billing software platform has features if payment processing, denial management, billing analytics, and patient statements. The software system is suitable for medical practices of all sizes. The medical billing software also provides an integrated dashboard that allows practitioners to view all billing reports in real-time. The billing platform can be used to receive payments and send patient statements efficiently.
- Intergy by Greenway Health EMR Software – Intergy is a fully integrated EHR software and medical billing software solution. The robust medical billing functionalities include claims scrubbing, remittance advice, and compliance tracking. It also offers data analytics features that help practitioners to see why claims were rejected. Through the billing software, multiple claims can be submitted with a single click.
- Kareo Clinical EHR Software – The cloud-based medical billing software platform offered by Kareo is suitable for all types of practices. The main tools of the software include financial analytics, insurance verification, patient’s statements, and a billing dashboard. The billing process is easy to learn by users and patient payments can be quickly processed.
- NextGen EHR Software – NextGen is a fully integrated EHR software, billing software, and Practice Management (PM) software solution. The billing features offered to its users include; compliance tracking, claims scrubbing, and estimate management. The claims scrubbing tool eliminates any billing errors. Through the billing platform, all tedious financial tasks are automated which helps to promote financial efficiencies in billing tasks.
The top 5 medical billing tools mentioned in the article will help your practice grow and operate in a way to reduce manual work and any errors. Before making a final choice you need to consider that the medical billing software vendor offers a HIPAA Compliant system that ensures protection of sensitive patient data that will be stored and transmitted.