No healthcare practice became successful without streamlined financial operations. A comprehensive online invoicing software lets hospitals keep track of payments, generate reports, submit claims, and handle billing codes with ease.
Not only this, good medical invoice software will help you automate cooperation while ensuring compliance with regulatory requirements. Here are some medical billing tools that will help you sail smoothly in 2024.
1. Moon Invoice
A leading medical billing software, Moon Invoice lets you put revenue cycle management on auto-pilot. With 66+ medical invoice templates to choose from, you can customize your invoice with ease and bring a strong rapport with your customers. Wait, there is more to it! You also get access to features like seamless payment processing, claims submission, reporting, and project management with our invoice software for Mac.
Pricing
Bronze Plan- 5.47 USD/Month
Silver Plan- 6.83 USD/Month
Gold Plan- 10.25 USD/Month
2. Kareo
Known for its user-friendly interface, Kareo is ideal for small to medium-sized hospitals. Claims management, electronic remittance advice (ERA) processing, advanced analytics, and robust functionality are just a few features offered by this tool.
Kareo’s scheduling tools are worth exploring as they pave the way for enhanced productivity and smooth appointment management. Lastly, with in-depth financial insights, you can stay on top of trends and make the right financial decisions.
Pricing
- Kareo Clinical (EHR)- $125/month
- Kareo Billing- $125/month
- Kareo Pro Plus- $199/month
3. AdvancedMD
With robust reporting capabilities, AdvancedMD is designed for various practice sizes. Not only does it streamline the billing workflow, but it also helps in smooth claims management, electronic health record (EHR) integration, and patient scheduling.
Thus, leading to reduced wait times and improved customer satisfaction ratios. Invest in the tool if you look forward to extraordinary care coordination and extensive remote billing processes.
Pricing
Standalone Solution- $429/provider/month
Integrated EMR and Practice Management Solution- $729/provider/month
4. Epic Systems
Offering seamless EHR functionalities, Epic Systems is known for its comprehensive functionality and interoperability. You can use the tool to tailor billing workflows, make data-driven decisions, and promote coordinated patient care. Moreover, Epic Systems will help you reduce claim rejections and verify insurance eligibility with ease.
5. AthenaCollector
If you are tired of manual billing processes, then AthenaCollector is here to streamline your tasks. Not only does it automate your billing cycles, but it also offers advanced insights into financial performance and some amazing revenue optimization tools.
Moreover, it is adept at handling claims, providing detailed reports, and optimizing revenue streams with ease. Other benefits of using this tool include real-time information updates, supporting a high volume of claims, and reducing aging accounts receivable.
Pricing
7% to 8% of monthly practice revenue for its billing services
6. eClinicalWorks
The number one reason to purchase this tool is its instant insurance eligibility check feature. eClinicalWorks sends bills on autopilot and is significant in reducing billing-related inquiries. Moreover, the solution offers excellent interoperability and claims submission functionalities. Furthermore, eClinicalWorks ensures equitable distribution of services.
Pricing
EHR with Practice Management- $599/provider/month
7. NextGen Healthcare
Ideal for all sizes of healthcare practices, this medical billing software can effectively automate appeals, manage claims, and prompt follow-ups. With tools for optimization, automation of billing processes, and real-time claim status tracking, all you need to do is look forward to improved consistency and better processes.
Pricing
- MediTouch EHR/PM- $379/provider/month
- MediTouch EHR/PM 400- $499/provider/month
- MediTouch EHR/PM Unlimited- $549/provider/month
8. DrChrono
A leading online invoicing software, DrChrono boasts of leading mobile app functionality and analytics features. From claims management to customizable templates, and 20+ integrations to real-time updates, DrChrono is the first choice of medical practitioners. Invest in it to enjoy unparalleled scalability and flexibility.
Pricing
Pricing available on request
9. CureMD
Designed to take the financial performance of your healthcare practice a notch higher, CureMD helps you eliminate errors, process claims, and verify patients with ease. The tool has been significant in reducing administrative workloads and boosting patient satisfaction.
Pricing
Pricing available on request
10. CentralReach
CentralReach is a medical billing software that offers superlative patient billing, claims management, and reporting metrics. The best reason to invest in CentralReach is its automation capabilities.
With seamless insurance verification and claims submissions, CentralReach can help you save time, reduce errors, and build a solid reputation with your customers. Lastly, it also provides access to a patient portal which lets patients book appointments and access information online.
Pricing
$59/user/month
4 Tips to Pick The Best Medical Billing Software
The right online invoicing software is adaptable, accurate, and flexible. As a health practice, you must consider these factors before investing in medical invoice software.
1. Benefit Verification
Medical invoice tools that can verify patient benefits with ease are a must as they help you save on time and resources. Also, the chosen solution should have in-depth customization capabilities to determine reimbursements from insurance minus the hassles involved.
2. Collections and Billing
Not having updated billing codes can result in large losses and fines. Thus, your online invoicing software must be updated with changes in billing codes. A solution that can be relied on for an evolving billing strategy would be an ideal choice. Moreover, such tools will also help you automate mail sequences to ensure the cooperation of insurance providers.
3. Reporting Metrics
Medical invoice software is much more than a bill tracker. A solution that generates detailed reports, provides insights on revenue generation, and keeps track of your health practice’s overall growth should be your choice. Moreover, it should let you adjust bills, customize reports, and accept multiple modes of payment.
4. Analytics
If your hotel medical billing software doesn’t offer top-notch analytics, then you are in for big trouble. A solution that offers extensive reporting capabilities and transparency over billing analytics is a must. This will ensure maximum revenue for your practice. Otherwise, you will not be able to figure out any errors and losses only when you get status reports.
Wrapping Up
Kickstart the new year with an all-new medical billing software for your healthcare practice. With all these tools at your access, you can take your business to higher echelons of success. Don’t wait any longer and make the right choice now!
Also Read: Benefits of Outsourcing Health Billing for Small Businesses
