23 Best Revenue Cycle Management Software In 2025
10 Best Revenue Cycle Management Software Shortlist
Here's my pick of the 10 best software from the 23 tools reviewed.
Our one-on-one guidance will help you find the perfect fit.
Revenue cycle management software is a fundamental tool in the healthcare sector. It streamlines a gamut of critical processes - from verifying patient eligibility with health plans, facilitating smooth patient intake, managing medical records, and handling claims processing to payment posting and more. With this software, you can verify insurance eligibility in a snap, maintain organized patient records, and manage the complex maze of payers with efficiency.
I understand how daunting it can be to navigate these tasks manually, especially for small practices with limited resources. That's where an RCM solution fits into your health system like a puzzle piece. It not only saves valuable time but also increases the accuracy of your records, boosting the overall profitability of your practice. This software alleviates the pain points related to manual data entry, tedious eligibility verification, and error-prone claims processing. So, whether you're a team of coders in a bustling health system or a small practice looking to outsource your RCM services, exploring these options can be a game-changing decision.
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Best Revenue Cycle Management Software Summary
This comparison chart summarizes pricing details for my top revenue cycle management software selections to help you find the best one for your budget and business needs.
| Tool | Best For | Trial Info | Price | ||
|---|---|---|---|---|---|
| 1 | Best for boosting collection rates and reducing billing errors | Not available | Pricing upon request | Website | |
| 2 | Best for real-time tracking of claim status | Not available | Pricing upon request | Website | |
| 3 | Best for intuitive medical billing management | Free demo available | From $429/user/month (billed annually) | Website | |
| 4 | Best for comprehensive revenue cycle monitoring | Not available | From $449/user/month | Website | |
| 5 | Best for integrated patient care and financial management | Not available | From $25/user/month | Website | |
| 6 | Best for improving practice profitability with smart dashboards | Not available | From $899/user/month (billed annually) | Website | |
| 7 | Best for seamless insurance and patient payments | Not available | Pricing upon request. | Website | |
| 8 | Best for end-to-end revenue management in large practices | Not available | Pricing upon request | Website | |
| 9 | Best for streamlining patient-to-payment processes | Not available | From $429/user/month | Website | |
| 10 | Best for flexible, scalable revenue cycle management | Not available | From $299/user/month | Website |
Best Revenue Cycle Management Software Reviews
Best for boosting collection rates and reducing billing errors
CareCloud is a cloud-based medical billing service that aims to enhance revenue collection and minimize billing errors. It integrates seamlessly with existing systems to provide real-time updates, reducing errors and speeding up billing processes, making it best for boosting collection rates and reducing billing errors.
Why I Picked CareCloud: I selected CareCloud for this list due to its focus on both collection efficiency and error reduction. Many solutions focus on either collections or error reduction, but CareCloud does both exceptionally well, which sets it apart. Hence, it was my choice for the 'Best for' category of enhancing collection rates while minimizing billing errors.
Standout features & integrations:
Key features of CareCloud include end-to-end revenue cycle management, real-time updates, and automatic error detection. In terms of integration, CareCloud can be easily synced with popular EHR and practice management systems, helping healthcare providers maintain a unified workflow across all operations.
Pros and cons
Pros:
- Seamless integration with popular EHR and practice management systems.
- Efficient collection system helps to increase revenue.
- Robust error detection mechanisms to reduce billing errors.
Cons:
- It might take time to fully explore and utilize all the features.
- Annual billing might not suit all practices.
- Higher cost compared to some other solutions.
Athenahealth is a leading revenue cycle management software that integrates billing, documentation, and patient communication. It shines in its ability to provide real-time tracking of claim status, which is instrumental in efficient and effective financial management.
Why I Picked athenahealth: When I was considering different options for this list, athenahealth quickly stood out due to its impressive features and seamless functionality. Its real-time claim-tracking capability is unrivaled, enabling medical practices to keep an eye on their revenue cycle at all stages. I chose athenahealth because it offers a comprehensive solution to manage medical billing, enhancing transparency and reducing claim denial rates.
Standout features & integrations:
Athenahealth is well-regarded for its end-to-end medical billing services, electronic health records (EHR), and exceptional patient portal. Its real-time claim tracking capability is a standout feature, providing crucial insights at your fingertips. In terms of integrations, athenahealth syncs effectively with a variety of EHRs and other medical software platforms, ensuring a well-connected ecosystem for healthcare providers.
Pros and cons
Pros:
- Effective integrations with numerous EHR systems.
- Comprehensive suite of medical billing services.
- Exceptional real-time tracking of claim status.
Cons:
- Training could be required to fully utilize its features.
- Some users might find the interface not as intuitive.
- The percentage-based pricing model might not suit every practice.
AdvancedMD is a cloud-based revenue cycle management solution designed to modernize your healthcare organization's operations. With a focus on intuitive medical billing management, it effortlessly tackles complex financial aspects of healthcare, providing you with a more straightforward and efficient way to manage your operations.
Why I Picked AdvancedMD: I selected AdvancedMD for its exceptional knack for simplifying complex medical billing processes. Its intuitive design and robust feature set make it stand out among other contenders, showing remarkable prowess in the field. I'm convinced that AdvancedMD is 'Best for' intuitive medical billing management given its ease of use, superior design, and the simple yet efficient approach it takes to tackle medical billing management.
Standout features & integrations:
AdvancedMD boasts features such as billing & practice management software, telemedicine, patient experience management, and medical billing services. Its intuitive medical billing management capability sets it apart. As for integrations, AdvancedMD can easily be integrated with numerous EHRs and other third-party applications, ensuring seamless interoperability across your healthcare practice.
Pros and cons
Pros:
- Strong interoperability with EHRs and third-party applications.
- Comprehensive suite of integrated tools.
- Intuitive medical billing management.
Cons:
- The one-time setup fee is not included in the monthly price.
- Some users may find the broad set of features overwhelming initially.
- The starting price point may be high for smaller practices.
eClinicalWorks is a unified, cloud-based EHR and practice management software solution that excels in offering end-to-end revenue cycle management. It's specifically designed to provide healthcare organizations with comprehensive monitoring of their revenue cycles, ensuring every financial aspect is under control.
Why I Picked eClinicalWorks: eClinicalWorks caught my eye with its extensive focus on revenue cycle monitoring. This platform has set itself apart with an all-encompassing view of your financial data. After comparing several tools, my choice fell on eClinicalWorks because it offers a clear and complete understanding of your revenue cycle, making it the 'Best for' comprehensive revenue cycle monitoring.
Standout features & integrations:
eClinicalWorks brings to the table features like medical billing and coding, accounts receivable management, and robust reporting capabilities. Its comprehensive dashboard provides real-time visibility into your revenue cycle. The tool can integrate well with multiple electronic health record systems, patient engagement tools, and many other applications for a more connected workflow.
Pros and cons
Pros:
- Robust reporting features.
- Seamless integration capabilities.
- Extensive monitoring of the revenue cycle.
Cons:
- Cost does not include one-time setup fees.
- Pricing is on the higher side for smaller practices.
- Initial setup may be complex for some users.
Meditech is a reliable tool designed to support comprehensive revenue cycle management, with a special focus on integrating patient care and financial management. By fusing these two critical components of healthcare administration, Meditech simplifies the management process and makes it a prime choice for those seeking an integrated approach to patient care and financial management.
Why I Picked Meditech: I chose Meditech for its holistic integration of patient care and financial management. Its distinct ability to marry these two components efficiently differentiates it from other tools. This dual-functionality makes Meditech the tool I'd recommend as 'Best for integrated patient care and financial management'.
Standout features & integrations:
Meditech offers vital features such as patient scheduling, automated billing, real-time reporting, and claims management. It also has deep integrations with various electronic health record (EHR) systems, facilitating a seamless flow of information across different healthcare management platforms.
Pros and cons
Pros:
- Extensive integration with various EHR systems.
- Robust scheduling and automated billing features.
- Seamless integration of patient care and financial management.
Cons:
- The cost may be higher compared to other tools, given the advanced functionality.
- Customer support could be more responsive.
- It may take time to fully understand and utilize all features.
Best for improving practice profitability with smart dashboards
Greenway Health is a revenue cycle management tool designed to enhance practice profitability through its intelligent dashboard system. It does this by providing a streamlined and organized overview of financial performance, making it easier for healthcare providers to monitor and increase their profitability.
Why I Picked Greenway Health: I picked Greenway Health primarily because of its impressive dashboard capabilities. This feature provides a clear and concise overview of financial activities, setting it apart from many other revenue cycle management tools. In my assessment, Greenway Health is 'Best for improving practice profitability with smart dashboards' due to its focus on data visibility and ease of use.
Standout features & integrations:
Greenway Health shines with features such as real-time analytics, customizable reports, and predictive modeling. These features allow for easy tracking of financial performance and identification of opportunities for improvement. The tool also integrates seamlessly with a wide range of electronic health record (EHR) systems, which helps streamline financial and clinical workflows.
Pros and cons
Pros:
- Seamless integration with various EHR systems.
- Predictive modeling to enhance future profitability.
- Exceptional dashboard capabilities for monitoring financial performance.
Cons:
- Higher cost relative to some other options in the market.
- The user interface could be more intuitive.
- Steeper learning curve due to its comprehensive features.
Waystar is a comprehensive revenue cycle management platform that helps healthcare organizations streamline their billing and insurance processes. It achieves this by providing robust solutions for insurance verification, claims management, and patient payments, aligning perfectly with its USP of offering seamless insurance and patient payments.
Why I Picked Waystar: In the vast field of revenue cycle management tools, I found Waystar stood apart with its strong focus on simplifying insurance processes and facilitating smooth patient payments. My selection of Waystar stems from its exceptional ability to integrate with various EHRs and the positive impact it has had on many healthcare organizations. Its effectiveness in ensuring seamless insurance and patient payments positions it as a top-tier choice for medical practices looking to enhance their revenue cycle efficiency.
Standout features & integrations:
Waystar is known for its highly automated claims management, denial prevention, and robust patient payment solutions. The tool's predictive analytics feature helps organizations proactively identify potential issues and rectify them before they become significant problems. As for integrations, Waystar seamlessly connects with several EHR systems, including Epic, Cerner, and Meditech, which boosts its functionality and makes it an excellent fit for a broad range of healthcare organizations.
Pros and cons
Pros:
- Excellent integration capabilities with major EHR systems.
- Comprehensive patient payment solutions.
- Robust insurance verification and claims management.
Cons:
- The volume of features might be overwhelming for smaller practices.
- The interface may take some time for users to get acquainted with.
- Customized pricing may not be as transparent upfront.
Cerner is a comprehensive revenue cycle management tool offering end-to-end solutions for large healthcare practices. By offering a suite of features geared towards optimizing financial and clinical operations, Cerner stands out as a robust solution for substantial healthcare organizations.
Why I Picked Cerner: In my selection process, Cerner caught my attention due to its wide range of features that accommodate the complex needs of larger practices. Its ability to handle multiple facets of revenue management from one platform is what sets it apart. I firmly believe Cerner is 'Best for end-to-end revenue management in large practices' because it can seamlessly handle the breadth and depth of financial management needs in these settings.
Standout features & integrations:
Cerner offers a comprehensive range of features, such as patient access, health records, and practice management. This allows large practices to streamline their operations and consolidate their financial management into one system. Additionally, Cerner has integrations with many insurance providers, enabling efficient claims management and faster reimbursements.
Pros and cons
Pros:
- Effective integration with numerous insurance providers for efficient claims management.
- Wide range of features tailored to larger practices.
- Comprehensive end-to-end revenue management capabilities.
Cons:
- The cost might be prohibitive for smaller practices.
- The comprehensive nature of the tool may be overwhelming for some users.
- The interface could be more user-friendly.
NextGen Healthcare is a versatile revenue cycle management software designed to optimize healthcare operations. It offers a robust suite of tools that specialize in streamlining the entire patient-to-payment process, enhancing both operational efficiency and financial performance.
Why I Picked NextGen Healthcare: In my pursuit of the finest revenue cycle management tools, I selected NextGen Healthcare for its exceptional ability to simplify and automate patient-to-payment processes. The software's comprehensive capabilities and its focus on optimizing this critical healthcare journey make it a game-changer. In my view, NextGen Healthcare is 'best for' this use case due to its impressive feature set and well-established reputation in the healthcare sector.
Standout features & integrations:
NextGen Healthcare brings to the table an extensive set of features including electronic health records, practice management, and patient portal. Particularly noteworthy is its patient-to-payment cycle management, which automates processes for faster and more efficient workflow. For integrations, NextGen Healthcare can sync seamlessly with many third-party applications and EHRs, ensuring you get a well-rounded, interconnected suite of tools.
Pros and cons
Pros:
- Excellent third-party integration capabilities.
- Broad suite of integrated healthcare management tools.
- Exceptional patient-to-payment process management.
Cons:
- Setup and customization might take time.
- Its broad feature set might require a learning curve for new users.
- Lack of upfront pricing information could be a drawback for some.
Allscripts is a comprehensive solution for revenue cycle management. This tool provides scalability and flexibility that suits a variety of healthcare practices, from small clinics to large hospital systems. Given its adaptability and scalability, Allscripts stands out as the best choice for flexible, scalable revenue cycle management.
Why I Picked Allscripts: I chose Allscripts for its ability to adapt to different sizes and types of healthcare practices. Unlike many other tools, Allscripts scales its functionality to meet the needs of various organizations, from small clinics to large hospitals. This level of flexibility and scalability makes it a unique choice on this list, and a clear winner for the 'Best for flexible, scalable revenue cycle management' category.
Standout features & integrations:
Notable features of Allscripts include its complete revenue cycle management functionality, intuitive interface, and detailed financial reports. Allscripts also integrates with various EHR systems, enabling a smooth flow of information across different aspects of healthcare practice management.
Pros and cons
Pros:
- Provides detailed financial reports to keep track of practice revenue.
- Seamless integration with various EHR systems.
- Offers flexibility and scalability for different sizes and types of healthcare practices.
Cons:
- Customer service could be more responsive according to some users' feedback.
- Some users have reported occasional software glitches.
- The user interface, while intuitive, may have a learning curve for some users.
Other Revenue Cycle Management Software
Below is a list of additional revenue cycle management software I shortlisted but did not make it to the top 10. Definitely worth checking them out.
- Optum360
For enhancing financial performance with data analytics
- Change Healthcare
For transforming financial processes with automation
- WebPT
Good for specialized physical therapy practices
- PracticeSuite
Good for comprehensive medical office software solutions
- CollaborateMD
Good for cloud-based medical billing and practice management
- DrChrono
Good for mobile EHR and medical billing
- nThrive
Good for end-to-end healthcare revenue cycle management
- Innovaccer
Good for healthcare data activation platform
- McKesson
Good for optimizing pharmacy management and automation
- MediTouch/HealthFusion
Good for integrated EHR and practice management
- Sycle
Good for audiology practice management
- Epic Systems
Good for extensive healthcare network interoperability
- Availity
Good for robust health information network capabilities
Revenue Cycle Management Software Selection Criteria
When selecting the best revenue cycle management software to include in this list, I considered common buyer needs and pain points like improving billing accuracy and reducing claim denials. I also used the following framework to keep my evaluation structured and fair:
Core Functionality (25% of total score)
To be considered for inclusion in this list, each solution had to fulfill these common use cases:
- Manage patient billing
- Process insurance claims
- Track accounts receivable
- Generate financial reports
- Ensure compliance with regulations
Additional Standout Features (25% of total score)
To help further narrow down the competition, I also looked for unique features, such as:
- Predictive analytics for revenue trends
- Automated denial management
- Customizable reporting dashboards
- Patient payment portals
- Integration with electronic health records
Usability (10% of total score)
To get a sense of the usability of each system, I considered the following:
- Intuitive user interface
- Easy navigation
- Minimal learning curve
- Responsive design for mobile use
- Customizable user settings
Onboarding (10% of total score)
To evaluate the onboarding experience for each platform, I considered the following:
- Availability of training videos
- Access to interactive product tours
- Comprehensive user manuals
- Live webinars for new users
- Supportive chatbots for guidance
Customer Support (10% of total score)
To assess each software provider’s customer support services, I considered the following:
- 24/7 customer service availability
- Multiple support channels like chat and phone
- Access to a dedicated account manager
- Fast response times
- Comprehensive online help center
Value For Money (10% of total score)
To evaluate the value for money of each platform, I considered the following:
- Competitive pricing compared to peers
- Transparent pricing model
- No hidden fees
- Flexible subscription plans
- Offers free trial or demo
Customer Reviews (10% of total score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- Positive feedback on functionality
- High ratings for ease of use
- Testimonials on customer support quality
- Reports of successful implementation
- Feedback on software reliability and uptime
How to Choose Revenue Cycle Management Software
It’s easy to get bogged down in long feature lists and complex pricing structures. To help you stay focused as you work through your unique software selection process, here’s a checklist of factors to keep in mind:
| Factor | What to Consider |
|---|---|
| Scalability | Can the software grow with your practice? Consider the number of users it supports and if it can handle increased transaction volumes as your practice expands. |
| Integrations | Check if the software integrates with your existing systems like EHRs and billing platforms. This avoids data silos and streamlines operations. |
| Customizability | Determine if you can tailor the software to your specific workflows. Ask if it allows custom reports or user-defined fields that align with your practice’s needs. |
| Ease of use | Evaluate the software’s interface. Is it intuitive for your team? A steep learning curve can slow down adoption and hinder productivity. |
| Implementation and onboarding | Assess the time and resources needed for setup. Look for tools that offer clear training resources and a supportive onboarding process to ensure a smooth transition. |
| Cost | Consider the total cost of ownership, including subscription fees, setup costs, and any additional charges. Ensure it fits within your budget without sacrificing essential features. |
| Security safeguards | Verify the software’s data protection measures. Check for encryption, user access controls, and compliance with data regulations to keep patient information secure. |
| Support availability | Ensure you have access to reliable customer support. Check if support is available 24/7 and through multiple channels like phone, chat, or email for quick assistance when needed. |
What Is Revenue Cycle Management Software?
Revenue cycle management software is a tool that helps healthcare practices manage billing, payments, and financial processes. Healthcare administrators and billing specialists generally use these tools to ensure efficient financial operations and compliance. Features like billing automation, claims processing, and reporting capabilities help with improving cash flow, reducing errors, and enhancing financial accuracy. Overall, these tools simplify financial tasks, allowing healthcare professionals to focus more on patient care.
Features of Revenue Cycle Management Software
When selecting revenue cycle management software, keep an eye out for the following key features:
- Billing automation: Automates invoicing and payment processes, reducing manual errors and saving time.
- Claims processing: Streamlines the submission and tracking of insurance claims to improve reimbursement rates.
- Reporting capabilities: Offers customizable financial reports to provide insights into revenue trends and performance.
- Compliance management: Ensures adherence to healthcare regulations and standards, minimizing legal risks.
- Patient payment portals: Allows patients to make payments online, improving convenience and payment collection.
- Predictive analytics: Analyzes financial data to forecast revenue trends and identify potential issues.
- Customizable dashboards: Provides a personalized view of key metrics and financial data for quick decision-making.
- Denial management: Identifies and resolves claim denials efficiently, reducing lost revenue.
- Integration with EHRs: Connects seamlessly with electronic health records for comprehensive patient and financial management.
- User access controls: Ensures sensitive financial data is secure by managing who can access specific information.
Benefits of Revenue Cycle Management Software
Implementing revenue cycle management software provides several benefits for your team and your business. Here are a few you can look forward to:
- Improved cash flow: Automated billing and claims processing ensure faster payments and reduce delays.
- Increased accuracy: Reduces manual errors with features like billing automation and denial management.
- Enhanced compliance: Keeps your practice aligned with healthcare regulations through compliance management tools.
- Better financial insights: Reporting capabilities provide detailed financial data to guide decision-making.
- Patient satisfaction: Online payment portals make it easier for patients to handle bills, enhancing their experience.
- Time savings: Automating repetitive tasks frees up staff time for more critical activities.
- Data security: User access controls protect sensitive financial information, ensuring data privacy.
Costs and Pricing of Revenue Cycle Management Software
Selecting revenue cycle management software requires an understanding of the various pricing models and plans available. Costs vary based on features, team size, add-ons, and more. The table below summarizes common plans, their average prices, and typical features included in revenue cycle management software solutions:
Plan Comparison Table for Revenue Cycle Management Software
| Plan Type | Average Price | Common Features |
|---|---|---|
| Free Plan | $0 | Basic billing, limited claims processing, and essential reporting. |
| Personal Plan | $10-$30/user/month | Advanced billing, claims processing, and basic reporting analytics. |
| Business Plan | $50-$100/user/month | Comprehensive reporting, denial management, and patient portals. |
| Enterprise Plan | $150-$300/user/month | Customizable dashboards, integration with EHRs, and full compliance management. |
Most Common Questions Regarding Revenue Cycle Management Software (FAQ's)
What are the benefits of using revenue cycle management software?
Using revenue cycle management software can transform the financial operations of a healthcare organization. Here are some key benefits:
- Streamlining Operations: The software allows you to automate repetitive tasks, thus reducing administrative burden and improving efficiency.
- Improved Cash Flow: With accurate billing and efficient claims management, these tools help reduce delays and denials, thus improving cash flow.
- Better Patient Experience: By automating patient billing and offering online payment options, you can improve patient satisfaction.
- Enhanced Compliance: These tools support compliance with healthcare regulations, reducing the risk of costly violations.
- Informed Decision-Making: The reporting and analytics capabilities provide insights into your financial performance, helping you make informed decisions.
How much does revenue cycle management software cost?
The cost of revenue cycle management software varies widely based on factors like the size of your practice, the range of functionalities, and the pricing model. Some vendors charge a flat monthly fee, while others may take a percentage of your monthly collections.
What are the pricing models for revenue cycle management software?
The two common pricing models are subscription-based, where you pay a fixed monthly or annual fee, and percentage-based, where the vendor charges a percentage of your monthly collections or claims.
What is the typical range of pricing for these tools?
While the pricing varies significantly based on the factors mentioned above, you can expect to pay anywhere from $100 per user per month to a few thousand dollars for enterprise-level solutions. Some vendors also offer custom pricing for large healthcare organizations.
Which are the cheapest and most expensive revenue cycle management software?
Based on our review, drchrono tends to be one of the more affordable options, with pricing starting from $200 per month. On the higher end, Epic Systems’ pricing is custom and typically caters to large healthcare organizations, hence tends to be more expensive.
Are there any free revenue cycle management software options?
While there are no completely free revenue cycle management software options, many vendors offer a free trial for you to test out their software before making a decision. It’s also worth noting that some software providers might offer limited free versions of their software with basic functionalities, but these often come with limitations and are not suitable for managing the full revenue cycle of a healthcare organization.
What’s Next:
If you're in the process of researching revenue cycle management software, connect with a SoftwareSelect advisor for free recommendations.
You fill out a form and have a quick chat where they get into the specifics of your needs. Then you'll get a shortlist of software to review. They'll even support you through the entire buying process, including price negotiations.ountless healthcare professionals seeking the right tools to enhance their revenue management. Thank you in advance for your valuable input!