Best Medical Billing Companies – Overview
Most healthcare workers and physicians agree that settling medical claims takes enormous time and effort.
In addition to coding and submitting payments to various insurance companies, healthcare workers must regularly appeal denied claims and follow up on successful claims.
On the other hand, medical practitioners who use billing software save a significant amount of time and can track claims very easily. In addition, private healthcare providers and practices can also use managed billing services to ease their administrative burden.
To help you find the best medical billing company, we evaluated numerous services and determined those that offer innovative software, complete support and assistance with claims appeals.
Best Medical Billing Companies
To make this list, we reviewed individual companies’ key stats, percentage of claims approved on first submission, requirements of revenue and structural plans.
Here’s our list of the best medical billing companies:
1 – AdvancedMD
AdvancedMD offers updated solutions ideal for small and large practices, thus making healthcare services scalable and more cost-effective.
For over twenty years, AdvancedMD has reliably provided medical billing services. The company effectively works with small and large healthcare services and delivers comprehensive support and customized solutions for all medical businesses.
It has numerous options that support healthcare providers’ growth, making it the top-ranking medical billing company on our list.
AdvancedMD combines several aspects of healthcare practice management. It claims a high first-pass rate for claims, which can help reduce denials.
This software uses cloud technology and is accessible via popular web browsers like Safari, Chrome, and Edge. It also supports mobile apps for iOS and Android devices.
Why choose AdvancedMD for Medical Billing
AdvancedMD offers incredible features, such as:
- Checking claims for coding errors
- Working with small and large-sized medical practices
- Assuring more than 95% first-pass rate for claims
- Additional help with denied claims
- Unlimited users
- iOS mobile app
- automatic updates
- scheduling software included
- patient portal
- claims management
- automatic data back-up
2 – ChartLogic
ChartLogic offers certified coder support for the billing needs of small-sized medical practices and offers a one-stop solution for medical billing.
This is one of the oldest RCM (Revenue Cycle Management) software solutions. It offers numerous innovative features, such as auditing past billing and collection procedures, which help you make better software implementation plans.
The software contains certified coders’ end-to-end billing monitoring and PM and EMR features, making it an excellent all-in-one solution for smaller medical practices.
You can collaborate with ChartLogic and let the company handle your complete billing process with a 95% success rate.
The software offers scheduling, claims and collection, and patient registration in a single package. It is accessible on major operating systems, including Windows, and through apps for iOS and Android devices. It also works with popular web browsers, such as Edge, Safari, Firefox, and Chrome.
The company also offers on-board and training to new users at no extra charge.
Why choose ChartLogic for Medical Billing
ChartLogic is an excellent solution for medical billing because of its unique features, which include:
- Platform agnostic
- End-to-end solutions
- Certified coders
- Review, edit and code claims automatically
- Send claims through the claims scrubber for review
- Monitor claims and follow-up process
- Get claim status details
- Customizable reports
3 – Kareo
Kareo is an excellent medical billing software system that combines managed services with an integrated healthcare IT system to form a one-stop solution.
Kareo is designed for independent physicians with small—to medium-sized private practices. The solution prioritizes physicians and is touted as the “only complete technology platform” for such medical practices.
It combines practice management and medical billing services and covers all your basic practice requirements.
This software offers physicians a complete set of independent physician tools, including engagement platforms, managed billing and clinical billing.
While the EHR feature requires additional fees, this software is compatible with multiple operating systems, including Windows, and popular web browsers like Chrome and Firefox.
Why choose Kareo for Medical Billing
Kareo comes with efficiency-enhancing features, such as:
- No contracts
- Success coach
- Practice management software
- Over 70 standard report templates
- Claims processing and tracking tools
- Scheduling system with reminders
4 – Waystar
Waystar is an all-in-one healthcare payment solution. It combines two extremely relevant platforms, ZirMed and Navicure, for an industrial-standard RCM solution. The software is designed to provide end-to-end billing solutions and high-level reporting and combines many practice management software features.
It has many high-end features, making it an incredible solution for medical billing.
Waystar boasts a 98.5% first-pass rate for claims and offers the highest percentage of successful claims. It is designed to combine all payments, including from Medicare.
This cloud-based solution combines leading practice management software and health information system (HIS), thus allowing you to use existing EHR software and in-house medical coders. The software is compatible with major operating systems, including Windows and iOS.
Why choose Waystar for Medical Billing
Waystar offers incredibly effective features, such as:
- Automatic claim scrubbing and editing
- Real-time claim tracking
- Health insurance eligibility verification
- Auto split remits function
- Enterprise-grade analytics and reporting
- Integrated payment processing
- More than 900 payer appeal templates
- Patient finance clearance
- Claim management
- Patient financial experience
- Patient insights
- Revenue integrity
- Denial management
- Agency management
Conclusion
These are the top four choices of medical billing companies. These companies offer all-in-one billing solutions that use innovative and efficiency-enhancing features that make billing and claims easier to handle.
It is highly advised to visit the official websites of these companies to learn about payment plans, eligibility, and other details.
See Also
Medical Billing and Coding Salary
How to Apply Medical Billing and Coding Schools
Medical Billing and Coding Grants
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