A large number of healthcare providers claim that collecting medical claims can be a lengthy and tedious process. In addition to coding and paying a variety of insurance companies, most healthcare practitioners tend to spend a great deal of time appealing or following up on denied claims. This is why choosing a renowned, proven medical billing service is a must.
To find a medical billing service that suits you, determining the particular needs of your facility is a must. As you would expect, finding the right service can significantly reduce your and your patient’s burdens. However, the wrong medical billing service can waste a lot of time and drain your facility’s resources.
There’s no denying that the health of your patients comes first, but there are several other things you need to pay attention to, for ensuring your medical facility can operate without any troubles. Not gaining profits will ultimately cause you difficulty treating patients properly, which is why prioritizing your clinic or hospital’s billing process is essential to gain profits consistently and keeping your office up and running.
Taking care of in-house billing on a day to day basis requires special attention. It is a major reason why tons of practices outsource this vital aspect to a reputable medical billing service, making sure they can pay complete attention to helping their patients recover.
The Best Medical Billing Services
As mentioned earlier, medical billing is a serious aspect of running a health care facility as it requires submitting various claims to insurance companies. For those who don’t know, insurance payments are a critical part of modern healthcare as they help maintain an economically manageable medical practice. Medical services file insurance claims, taking care of the coding and ensuring they reach the company in a timely manner.
Medical billing services follow the insurer’s specific submission regulations, which significantly increase the chances of getting timely payments, providing medical practices the money they require to function properly. The right medical billing service will also steer clear from mistakes and errors in bill
submissions and insurance claims that could lead to penalties or revenue forfeiture due to subpar recordkeeping.
Mentioned below, are some of the best medical billing services you can choose.
If you are looking for an easy-to-use, team-friendly medical billing service, give this medical billing service a try. Its prices are relatively low, especially considering its high-quality. With Athena Collector, your billing process will become efficient and error free, allowing your staff to stay on top of the entire procedure. Using this service is quite easy, as all you need to do is set it up and start right away.
What’s most impressive about this service is its 3 month minimum contract, giving you ample time to check whether it fits your requirements.
- Relatively lower price
- Short contracts ensure you don’t have to make lengthy commitments
- Especially developed to make things easier for in-house staff
- User-friendly design
- May not be suitable for those who prefer third party billing services
- Relatively low first pass success rate for claims
Few medical billing solutions are as good as Care Cloud. With a robust EMR system and a minimum contract of one year, this medical billing service can help you get rid of most, if not all of your payment related woes. Care Cloud’s carefully tailored price tiers make it stand out from several other similar services. Instead of offering just one solution, you can choose a package that matches your claim’s frequency and complexity.
What’s more, you can avail get a low percentage cost with Care Cloud, depending on your clinic or hospital’s billing amount. Sure, this service’ startup fees may be a bit heft but its efficient billing processes put most billing systems to shame.
- Tremendous coding results
- A short, one year contract length
- Excellent EMR system
- Numerous pricing tiers to offer added convenience
- The startup fees may be too much for some
- Minimum monthly guarantee required
The Advanced MD is truly as it name suggests. This high quality billing solution is compatible with almost every type of practice and has a tremendous first pass success rate. What’s more, Advanced MD also thoroughly analyzes claims to look for coding errors, a feature that only the best medical billing services offer.
Advanced MD’s excellent 95 percent a success rate speaks volumes about how effective it is. One of the best things about this software is its straightforward interface. Familiarizing your staff with it won’t take much time, and once they understand how it works, your invoicing and billing will become simple and free from errors.
This billing service also contains an efficient electronic medical record system that offers incredible billing accuracy. The only thing that some users may not like about Advanced MD is that it doesn’t code claims at the beginning, which means that you will have to take care of it through your in-house resources.
- Suitable for different practice types and sizes
- Excellent for searching coding errors
- A great option for anyone who encounters several denied claims
- First pass success rate is quite high
- Doesn’t work on initial coding, meaning that you’ll require a coder
Human Medical offers highly customized and personalized services. It may not be the largest company around, but it offers excellent customer service, offering clients with timely and adequate solutions. You will not get other software types with human medical; therefore, it is a good option for practices already using electronic medical record systems.
As far as convenience and flexibility goes, human medical is one of the best. However, you will also need to pay a little more money for that comfort.
- Excellent customer service
- Offers great flexibility
- Perfect option for small practices
- Can handle coding and claim generation procedures with ease
- Slightly high percentage fees
- Doesn’t offer a practice management software or EMR option
Handling a medical practice’s billing is not as straightforward as it seems. There are days when you encounter a variety of complex issues, and solving them can take loads of time. If your practice faces such issues on a frequent basis, try Cerner. This medical billing service was especially designed to take care of complicated billing. While Cerner can take care of a multitude of billing aspects, there is a caveat – you may need some time to get familiar with its advanced features.
So, if you do opt for Cerner, it would be best to take some time to train your staff beforehand. Once you know how Cerner works, your practice’s billing will become very straightforward, no matter how challenging it may seem.
What’s most impressive about this billing solution is that it can take care of your medical practice’s entire billing process, including account collections, denied claims, their resubmissions etc.
- The wide range of features this service offers is quite impressive
- Managing account collections will become simple and efficient
- This service is especially great for larger practices
- Customer service could use some improvements
- Lengthy training process
Most medical billing services are quite costly. Sure, some of them may be less expensive, but their setup fees and contracts are quite lengthy, tying clients for long periods. Kareo, on the other hand, is quite different. This medical billing service is quite flexible in terms of its billing. So, whether you run a small practice or a large one, you can breathe a sigh of relief knowing that you will find a package that suits your particular needs.
Another thing that stands out about Kareo is that it can handle every segment of your practice’s billing, which also includes resubmissions.
- Decent range of training features
- Convenient pricing tiers
- Great option for resubmissions
- Smooth handling of medical billing
- Customer service may not be consistent
- Clients must also get Kareo’s practice management software and EMR to avail billing services
Do you run an average sized or small medical practice and are looking for a full service medical billing solution? If yes, look no further than Dr. Chrono. This medical billing service touts a first pass success rate over 95%, which is higher than most. Offering a vast range of billing services to various practices,
Dr. Chrono can do plenty of things such as coding, billing, resubmissions etc. regardless of your practice’s size.
- Excellent success rate on insurance claims
- Especially geared towards specialty and general practice providers
- Takes care of claim submissions form beginning to end
- Absence of minimum monthly guarantee makes Dr. Chrono a perfect choice for smaller practices
- May not be ideal for bigger practices
- You can only avail this service with its EMR software
If you are looking for a medical billing service with a personalized touch, then choosing Lokesh James would be a wise decision. Many practices encounter trouble in revenue generation, claims processing, and various aspects of medical billing. If you face the same issues, Lokesh James’ experience in the billing industry will help your practice steer clear from medical billing troubles.
What’s most impressive about this service is its professional and timely assistance. Unlike most billing services, Lokesh James will take care of your medical billing payment within the first claim filing week, allowing your practice to operate smoothly.
- Timely claim filing
- Suitable for small and large medical practices
- Professional assistance
- Years of experience in the medical billing industry
Essential Considerations for Choosing the Right Medical Billing Service
With no shortage of medical billing services to choose from, deciding which one would suit your practice can be hard. However, the considerations we are going to discuss will help eliminate confusion, helping you make a well-informed decision when choosing the best medical billing service.
Look at the Contract they Offer
Almost every medical billing service has a contract, and most of them are quite different. Take a close look at the contract lengths being offered to see which one suits you the best. In most cases, minimum contract lengths tend to be around one year. However, there are plenty of billers who ask potential clients to sign a contract that lasts for two, three, or even five years.
When negotiating a contract period, try choosing a shorter tenure. Why? Because if the service is not according to your needs, you will not have to worry about fulfilling a long-term commitment. It would also help if you paid attention to the penalties or fees you will need to pay if you decide to terminate the contract before it ends.
If you come across a medical billing service that offers low prices, it could be because it expects its clients to handle the initial coding by themselves. Coding is a vital part of insurance claim filing and the smallest of errors could lead to rejections. Make sure the service you choose takes care of the coding from the get go and has a high success rate of claiming submissions to avoid payment delays.
When choosing a medical billing service, check the RCM’s handling of claims denied by the insurance company. Does it make amendments and resubmit those claims? If no, then it would be best to look for other billing services. Many medical billing services do not resubmit claims if their client made the mistake and some even ask for extra fees. A high-quality service will always take care of the mistake made from your end and handle denials with professionalism.
Consider opting for a medical billing service that lets you contact it through live messaging, telephone, email, and other modes of communication. Some billing services even offer 24/7 support while others are only available during business hours.
While there are plenty of practices that handle their insurance claims and medical billing using in-house employees, choosing a reputable billing service like the ones discussed earlier would be in your best interest. Doing so will allow your practice to prioritize on patient care while leave the billing to the pros.