12 Best Medical Billing Software for Small Business Shortlist
After a thorough evaluation, I've handpicked 12 of the best medical billing software for small businesses to address your unique challenges. Dive in!
- DrChrono - Best for easy patient check-in with on-patient feature
- TheraBill - Best for therapy-focused practices with scheduling integrations
- athenaOne - Best for cloud-based comprehensive care across clinical and financial areas
- AdvancedMD - Best for practice automation with an all-in-one platform
- WebPT - Best for physical therapists seeking specialty-specific solutions
- ChiroTouch - Best for chiropractic-specific billing and scheduling
- Practice Fusion - Best for user-friendly EHR with customizable templates
- Raintree Systems - Best for speciality and pediatric practices with diverse billing needs
- Therapy Notes - Best for mental health professionals with a focus on note-taking
- Rectangle Health - Best for secure payment processing in medical settings
- NextGen Healthcare EHR - Best for integrative approach to EHR and practice management
- Kareo - Best for independent practices with tailored modules for specific needs
Navigating the world of medical practice management is no small feat. As someone involved in medical practice, I understand the complex dance between billing companies, clearinghouse operations, and on-premise workflows. Juggling the needs of payers, managing appointment scheduling, and coordinating with billers are all part of the daily routine. An effective medical practice management software is necessary— your comprehensive billing platform streamlines end-to-end operations, from patient data management to medical coding.
I've learned the pivotal role that an in-house medical billing solution plays in maintaining profitability. With medical claims, an efficient solution ensures precise medical coding and accurate claim submission, eliminating costly errors. A robust practice management software simplifies the administrative workload and helps your practice to the ever-evolving healthcare regulations. I assure you that finding the right software solution will revolutionize your practice's efficiency and financial health.
What is Medical Billing Software for a Small Business?
Medical billing software for small businesses represents a critical tool healthcare providers, administrators, and billing specialists utilize to streamline the complex process of managing patients through a Medical Billing system. It automates and simplifies various tasks such as invoicing, processing insurance claims, and tracking payment statuses, thereby improving revenue collection and revenue cycle management (RCM) accuracy and efficiency.
Equipped with features designed to handle patient demographics, charge entry, claim management, and reporting, this software proves essential for tiny medical practices - aiming to reduce administrative burden, minimize errors, and enhance patient service. By integrating such software, courses can devote more time to patient care, driving business growth and patient satisfaction.
Overview of the 12 Best Medical Billing Software for Small Business
1. DrChrono - Best for easy patient check-in with on-patient feature
DrChrono is a feature-rich, intuitive EHR and practice management software designed to help practices improve patient experience and streamline workflows. It offers unique capabilities, including an on-patient feature for easy patient check-in, directly aligning with its mission of modernizing patient interactions.
Why I Picked DrChrono:
I selected DrChrono for its forward-thinking approach to patient management, particularly its on-patient feature, which sets it apart from competitors. This distinctive feature provides an innovative solution to patient check-in, making DrChrono the best choice for practices seeking to improve the patient arrival experience and reduce waiting times.
Standout Features & Integrations:
DrChrono offers several notable features, like customizable medical forms, a patient portal, and appointment reminders, all aimed at improving operational efficiency and patient satisfaction. The on-patient feature lets patients check in from their devices, streamlining the process. As for integrations, DrChrono effectively connects with major labs and pharmacies nationwide and offers API integration for more custom solutions.
Pricing:
The pricing for DrChrono starts from $199/user/month, billed annually. This comes with core EHR capabilities, including the unique on-patient check-in feature and access to their mobile application.
Pros:
- Unique on-patient check-in feature.
- Extensive integration options.
- Customizable medical forms and reports.
Cons:
- Pricing can be high for smaller practices.
- Advanced features are only available in higher tiers.
- Annual billing can be less flexible for some practices.
2. TheraBill - Best for therapy-focused practices with scheduling integrations
TheraBill offers specialized solutions for therapy practices, providing a suite of tools to handle billing, scheduling, and documentation tasks. It’s dedicated features and seamless scheduling integrations make it an excellent choice for therapy-focused businesses aiming to streamline operations and improve efficiency.
Why I Picked TheraBill:
I chose TheraBill due to its unique focus on therapy practices and comprehensive scheduling integrations, which stand out in a field dominated by more general solutions. Its ability to understand and cater to the specific needs of therapy businesses makes it a superb choice. TheraBill truly shines for therapy-focused practices seeking to enhance scheduling efficiency and reduce administrative load.
Standout Features & Integrations:
TheraBill's key features include electronic insurance claim submission, therapy-specific documentation tools, and a patient portal. Its scheduling module with color-coded appointments and auto-reminders is handy. TheraBill integrates smoothly with multiple electronic health records systems, providing comprehensive support for therapy practices.
Pricing:
TheraBill's pricing starts from $149/user/month. This plan includes full access to scheduling, documentation, and billing tools and does not require long-term contracts.
Pros:
- Therapy-specific features.
- Robust scheduling integrations.
- Comprehensive electronic claims handling.
Cons:
- Higher pricing may deter smaller practices.
- Lack of mobile app.
- The steeper learning curve for non-therapy practices.
3. athenaOne - Best for cloud-based comprehensive care across clinical and financial areas
athenaOne is a unified, cloud-based healthcare suite designed to streamline various healthcare operations, including billing, clinical care, and patient engagement. This platform provides a comprehensive solution that bridges clinical and financial areas, making it the top choice for practices seeking integrated care capabilities.
Why I Picked athenaOne:
In selecting tools for this list, I was impressed by athenaOne's comprehensive, cloud-based approach to healthcare management. This platform uniquely marries clinical and financial workflows, delivering an all-in-one solution many others don't offer. AthenaOne is best for those seeking a cloud-based solution to handle a broad spectrum of clinical and financial tasks.
Standout Features & Integrations:
athenaOne features a robust suite of tools, including electronic health records (EHR), revenue cycle management, patient engagement, and care coordination capabilities. It also boasts a top-rated mobile app for on-the-go access. For integrations, athenaOne shines with a wide array of connections with lab systems, imaging centers, pharmacies, and health information exchanges.
Pricing:
athenaOne pricing is tailored to the specific needs of each practice, with detailed quotes available upon request.
Pros:
- Comprehensive, cloud-based solution.
- Wide range of integrations.
- Top-rated mobile app for easy access.
Cons:
- Tailored pricing can be less transparent.
- It might be overwhelming for smaller practices.
- Some features may have additional costs.
4. AdvancedMD - Best for practice automation with an all-in-one platform
AdvancedMD is a robust medical software providing an all-in-one platform that covers the spectrum of health management tasks. Its powerful features make it a top choice for practices looking to automate processes and streamline operations.
Why I Picked AdvancedMD:
When evaluating options, I chose AdvancedMD for its impressive capacity to automate various tasks in a healthcare setting. The tool stands out with its all-in-one approach, covering everything from electronic health records (EHR) to practice management and patient engagement. It's the best for practices desiring an automated, comprehensive operation platform.
Standout Features & Integrations:
AdvancedMD features extensive automation capabilities, including auto-reminders, scheduling, and billing. It also supports telemedicine, adding flexibility to any practice. Integrations are equally impressive, featuring connections with labs, pharmacies, radiology centers, and more for holistic patient care.
Pricing:
Pricing for AdvancedMD begins at $429 per provider per month, offering comprehensive functionality for healthcare practices. Just so you know, this pricing may vary depending on the size and needs of your course.
Pros:
- Extensive automation capabilities.
- An all-in-one platform covering various tasks.
- Supports telemedicine.
Cons:
- Higher price point than some competitors.
- It may require a learning curve for full feature utilization.
- Custom pricing may lack transparency.
5. WebPT - Best for physical therapists seeking specialty-specific solutions
WebPT is a medical billing software specifically designed for physical therapists, providing a suite of features tailored to their unique needs. Focusing on specialty-specific solutions makes it an excellent choice for physical therapists looking to streamline their practice management and billing processes.
Why I Picked WebPT:
I selected WebPT for this list due to its specialized focus on physical therapy practices, a feature that sets it apart from general medical billing software. It provides a tailored approach that will significantly benefit therapists. WebPT is best for physical therapists as it speaks directly to their unique challenges and demands.
Standout Features & Integrations:
WebPT boasts features such as electronic medical records (EMR), scheduling, and billing, all custom-designed for physical therapists. Additionally, it integrates with various third-party apps, such as Therabill, for comprehensive billing and invoicing solutions.
Pricing:
The pricing for WebPT starts from $3/user/month, making it an affordable option for smaller practices. Note that this is the price for their base plan, and additional features may incur extra costs.
Pros:
- It is tailored specifically for physical therapists.
- Affordable starting price.
- A comprehensive suite of features.
Cons:
- Additional features may increase costs.
- Limited utility for non-physical therapy practices.
- Requires learning to utilize all features effectively.
6. ChiroTouch - Best for chiropractic-specific billing and scheduling
ChiroTouch is a specialized software solution for chiropractors that aims to streamline their daily operations. By offering chiropractic-specific features for billing and scheduling, this tool has carved a niche in the medical billing software market.
Why I Picked ChiroTouch:
ChiroTouch caught my attention because it specifically targets a medical profession – chiropractic. This level of specificity enables the software to provide tailored solutions that perfectly match the needs of chiropractic practitioners. Therefore, ChiroTouch is the best for chiropractic-specific billing and scheduling due to its focus and customization.
Standout Features & Integrations:
ChiroTouch provides several chiropractic-specific features, such as integrated scheduling, detailed reporting, and robust billing tools, designed to make running a chiropractic clinic more efficient. Moreover, it offers integrations with numerous third-party apps, including QuickBooks for advanced financial management and various EHR systems for comprehensive patient record-keeping.
Pricing:
Pricing for ChiroTouch starts from $249/user/month (billed annually), making it a slightly pricier option but worth it, given the specialty-specific features on offer.
Pros:
- Dedicated chiropractic-specific features
- Integration with third-party apps for a holistic solution
- Detailed reporting for better practice management
Cons:
- Higher starting price compared to general medical billing software
- It might be to niche for practices offering a range of medical services.
- Annual billing might deter smaller practices with limited budgets.
7. Practice Fusion - Best for user-friendly EHR with customizable templates
Practice Fusion is a robust medical billing software that integrates a user-friendly Electronic Health Record (EHR) system with customizable templates. This makes it an excellent tool for medical practices aiming for ease of use without sacrificing the flexibility of customization.
Why I Picked Practice Fusion:
Its user-friendly interface and customizable templates stood out when deciding on Practice Fusion for this list. This blend of simplicity and customization is unique in many EHR systems, setting Practice Fusion apart. Therefore, it's my choice as the best for those seeking a user-friendly EHR with customizable templates.
Standout Features & Integrations:
Practice Fusion's EHR has adaptable templates suitable for various specialties, making it easy to tailor the system to specific needs. Its charting feature allows healthcare providers to document patient encounters efficiently. Practice Fusion works well with several lab and imaging centers, pharmacies, and billing solutions for integrations, offering a seamless workflow.
Pricing:
Pricing for Practice Fusion starts at $149/user/month, providing access to its full suite of features.
Pros:
- User-friendly interface reduces the learning curve.
- Customizable templates allow tailored use.
- A broad range of integrations for comprehensive care management.
Cons:
- Higher monthly costs might be prohibitive for small practices.
- The absence of a free trial could deter potential users.
- Some users report occasional slow system response times.
8. Raintree Systems - Best for speciality and pediatric practices with diverse billing needs
Raintree Systems is a comprehensive medical billing software designed to handle diverse billing needs, making it especially suitable for speciality and pediatric practices. This versatility helps to streamline the workflow of practices with a broad range of services.
Why I Picked Raintree Systems:
I selected Raintree Systems for its strength in handling diverse billing scenarios common in specialty and pediatric practices. Its robust feature set, specifically designed for these methods, sets it apart. Thus, I recommend Raintree Systems as the best for specialty and pediatric practices with diverse billing needs.
Standout Features & Integrations:
Raintree Systems' key features include comprehensive practice management, patient engagement tools, and an intuitive billing system. These features can significantly impact the overall efficiency and revenue generation of practice. Regarding integrations, Raintree Systems links well with numerous EHR and EMR systems, enabling a comprehensive overview of practice operations.
Pricing:
Pricing for Raintree Systems starts from $200/user/month, making it a premium option in the medical billing software market. This is a starting price and may vary depending on specific needs.
Pros:
- Diverse billing options cater to a wide range of practice types.
- Integration capabilities allow for a unified system.
- Comprehensive practice management features.
Cons:
- Higher starting prices could be a barrier for smaller practices.
- The absence of a free trial might deter potential users.
- The user interface might seem complex to some users.
9. Therapy Notes - Best for mental health professionals with a focus on note-taking
Therapy Notes is a software designed with mental health professionals in mind, focusing mainly on note-taking. Its specialized features provide therapists with an intuitive and easy way to manage their practice, maintaining detailed notes with minimal effort.
Why I Picked Therapy Notes:
Therapy Notes stood out for its specific design in my selection process, catering to mental health professionals and their note-taking needs. Its unique approach to handling clinical notes is a significant differentiator. Considering these factors, it made sense that Therapy Notes would be the best choice for mental health professionals requiring robust note-taking capabilities.
Standout Features & Integrations:
Therapy Notes features a high-quality note-taking function, scheduling, to-do lists, and billing systems, creating an all-in-one platform for mental health professionals. On the integration front, Therapy Notes can interface with credit card processors and electronic health records systems, allowing for an efficient workflow within one platform.
Pricing:
Therapy Notes pricing starts from $49/user/month. Just so you know, this starting price can vary based on additional features or services required.
Pros:
- The high-quality note-taking function is tailor-made for mental health professionals.
- Comprehensive platform with scheduling, billing, and to-do lists.
- Smooth integration with credit card processors and EHR systems.
Cons:
- The lack of a free trial might deter potential users.
- The starting price may be high for individual or small practices.
- The interface might be complex for some users.
10. Rectangle Health - Best for secure payment processing in medical settings
Rectangle Health is a specialized healthcare payment solution designed to manage and streamline payment transactions in a medical environment. It's designed to bolster security and efficiency in healthcare payment processing, a characteristic that makes it particularly suitable for medical settings.
Why I Picked Rectangle Health:
Rectangle Health emerged as a solid pick in my quest to find a reliable solution for secure payment processing in medical settings. This selection is mainly due to its focus on secured transactions, the patient payment experience, and smooth integration with existing practice management systems. These strengths affirm my conviction that Rectangle Health is ideally suited for fast payment processing in medical environments.
Standout Features & Integrations:
Among its features, Rectangle Health offers secure and seamless payment processing, patient payment solutions, and patient engagement tools. The platform also integrates well with numerous medical practice management systems, helping healthcare providers keep all operations under one roof.
Pricing:
Pricing for Rectangle Health is available upon request. It's best to contact the Rectangle Health team to get a more personalized pricing model based on your particular needs.
Pros:
- Specialized in secure payment processing in healthcare settings.
- Patient payment experience focus promotes increased collections.
- Smooth integration with existing practice management systems.
Cons:
- Pricing is not transparent; it requires reaching out to the company.
- A transparent pricing model is necessary for some prospective users.
- It may have features that could be more appropriate for smaller medical practices.
11. NextGen Healthcare EHR - Best for integrative approach to EHR and practice management
NextGen Healthcare EHR is an all-inclusive platform that merges electronic health records (EHR) and practice management solutions for a comprehensive healthcare system. Its integrative approach makes it an ideal option for those seeking a unified EHR and practice management solution.
Why I Picked NextGen Healthcare EHR:
When deciding on a tool that offers an integrative approach to EHR and practice management, I chose NextGen Healthcare EHR. Its ability to provide a single platform for both EHR and practice management sets it apart from others. This cohesiveness makes me believe that NextGen is the optimal choice for those seeking a comprehensive approach to healthcare management.
Standout Features & Integrations:
NextGen Healthcare EHR has features like customized templates for various specialties, patient portals, and e-prescribing. The tool also allows for integrations with third-party billing and accounting software, patient scheduling tools, and telehealth platforms.
Pricing:
The pricing for NextGen Healthcare EHR begins from $429/user/month (billed annually). This price includes core EHR features, and other packages are available depending on your practice's size and requirements.
Pros:
- Offers a comprehensive solution for EHR and practice management.
- Customizable templates for various medical specialties.
- Integrates with a variety of third-party software for enhanced functionality.
Cons:
- The starting price may be high for smaller practices.
- The learning curve might be steep due to its comprehensive nature.
- Some users may find the interface less intuitive than other EHR platforms.
12. Kareo - Best for independent practices with tailored modules for specific needs
Kareo is a comprehensive healthcare management platform designed with the specific requirements of independent practices. It offers tailored modules that address unique needs, providing a customizable solution ideal for smaller practices seeking specificity and flexibility.
Why I Picked Kareo:
In my selection process, Kareo emerged as a distinctive tool for independent practices. What makes it stand out is the modularity of its system, allowing it to be tailored to the unique requirements of different methods. This flexibility positions Kareo as the top choice for independent practices with specific needs.
Standout Features & Integrations:
Kareo shines with features like patient scheduling, billing, and secure messaging. It also provides detailed reporting and analytics tools that aid in practice management. Moreover, Kareo integrates smoothly with various EHR systems and offers API integration capabilities for maximum adaptability.
Pricing:
Kareo's pricing begins at $160/user/month, with the flexibility to add modules based on specific needs. While this is the base price, the cost might increase depending on the additional modules chosen.
Pros:
- Offers a tailored solution for independent practices.
- The comprehensive feature set includes scheduling, billing, and messaging.
- Provides integration capabilities for maximum adaptability.
Cons:
- Pricing can become high when adding extra modules.
- It requires time and effort to learn all features.
- Some users report occasional issues with customer service.
Other Medical Billing Software for Small Business Tools
Below is a list of additional medical billing software for small businesses that I shortlisted but did not make it to the top 12. Definitely worth checking them out.
- RXTN - Good for seamless integration of EHR, PM, and billing solutions
- CentralReach - Good for behavior-based health organizations needing comprehensive practice management
- CareVoyant - Good for long-term care providers seeking integrated clinical and financial solutions
- Phreesia - Good for patient intake management and care coordination
- NueMD - Good for small to medium practices requiring an easy-to-use, comprehensive EHR and PM tool
- EZClaim - Good for insurance billing, scheduling, and claims management
- Centricity Practice Solutions - Good for organizations seeking customizable EHR and PM tools
- ClinicMinds - Good for cosmetic and aesthetic clinics looking for a tailored solution
- Azalea Health - Good for rural, community, and critical access hospitals requiring a comprehensive EHR solution
- InstaMed - Good for healthcare providers needing secure patient payment solutions
- PracticeSuit - Good for physical therapy practices seeking a single software for practice management
- Valant - Good for behavioral health providers needing a specialized EHR solution
- iClaims - Good for organizations looking for a comprehensive insurance claims management solution
- PulsePro Practice Management - Good for improving revenue cycle management and patient care
- CareStack - Good for dental practices seeking an all-in-one practice management platform
Selection Criteria for Medical Billing Software for Small Business
When selecting the right medical billing software, several critical criteria matter the most. I've personally tried and researched numerous tools in this domain. While evaluating these tools, I was specifically looking for a comprehensive set of features, robust core functionalities, and an intuitive user interface that doesn't compromise usability.
Core Functionality
- Insurance Eligibility Verification: This enables users to verify a patient's insurance coverage in real-time.
- Claim Processing: This lets users submit claims directly to insurance companies and manage the entire process within the tool.
- Reporting: Provides detailed reports on various financial aspects such as income, outstanding bills, etc.
- Payment Tracking: Allows tracking of patient payments and insurance reimbursements.
Key Features
- Integrated EHR: Offers a link with Electronic Health Records (EHR) for easy access and management of patient health information.
- Secure Patient Portal: A patient portal that is user-friendly and compliant with healthcare privacy laws.
- Coding and Compliance Support: Helps users ensure their claims are accurate and compliant with the latest regulations.
- Automated Billing: Streamlines the billing process through automation, reducing the chance of human errors.
Usability
- Intuitive Interface: The tool should have an interface that is easy to navigate and does not require significant technical knowledge.
- Ease of Onboarding: The software should provide a smooth onboarding process with comprehensive training resources and support.
- Reliable Customer Support: As billing can involve complex and sensitive data, a reliable, responsive, knowledgeable customer support service is critical.
- Software Integration: It should easily integrate with other tools, like EHR or practice management software, for a unified workflow.
Most Common Questions Regarding Medical Billing Software for Small Businesses (FAQs)
What are the benefits of using medical billing software for small businesses?
Using medical billing software can have several benefits for small businesses. These include:
- Efficiency: Automated billing processes eliminate manual entry and reduce the chance of errors, leading to increased accuracy and faster payment cycles.
- Compliance: These tools are regularly updated to keep up with the latest changes in healthcare regulations. They guarantee that your claims are HIPAA-Compliant and have ICD-10 standards, which reduces the risk of claim denials.
- Integration: Many tools can be integrated with other software systems like Electronic Health Records (EHR), streamlining your overall healthcare management.
- Improved Cash Flow: Quick and accurate billing leads to faster reimbursements, significantly improving cash flow.
- Better Patient Satisfaction: Medical billing software can improve patient satisfaction by providing accurate billing and an easy-to-use patient portal.
How much does medical billing software cost?
The cost of medical billing software varies greatly depending on the features, the number of users, and whether it's a standalone tool or part of a comprehensive practice management system. Some devices have a flat monthly fee, while others charge based on the number of providers or claims processed.
What are the pricing models for medical billing software?
Medical billing software can come with various pricing models. Some are subscription-based, charging a monthly or annual fee. Others may charge based on the volume of claims processed or the number of providers using the software. Some offer a tiered pricing model, where you pay more for additional features or capabilities.
What is the typical range of pricing for medical billing software?
Pricing can range from as low as $30 per month for the most basic packages to over $500 for more advanced solutions, including features like integrated EHR, patient portals, and advanced reporting.
Which are the cheapest and most expensive medical billing software?
On the lower end, options like PracticeSuite offer plans starting at around $30 per month. On the higher end, solutions like CareVoyant can cost upwards of $500 per month for their comprehensive suite of services.
Are there any free medical billing software options?
While some free options are available, they typically come with limited features. Investing in a paid software solution is generally recommended for a small business that needs robust and reliable medical billing. However, free trials are common among these tools and can provide a helpful test run before committing to a particular software.
Other Medical Software Reviews
- Medical Billing Services
- EHR Software
- Web Based Medical Billing Software
- Medical Coding Software
- Healthcare Claims Management Software
Summary
In conclusion, selecting the best medical billing software for small businesses requires careful consideration of several vital factors. Notably, the efficiency of the software, the capacity to remain compliant with healthcare regulations, ease of integration with existing systems, and the potential for improved cash flow are all vital considerations.
Key takeaways:
- Identify Core Functionality: The software you choose should support all your core billing functions, from claim submission to revenue tracking. Ensure it can handle your current workload and scale as your business grows.
- Evaluate Key Features: Look for features that enhance your practice, such as automated reminders, claim scrubbing, or advanced reporting. Good software will automate billing and provide tools to improve your overall revenue cycle management.
- Consider Usability: The software you select must be friendly and easy to learn. The design and interface, the ease of onboarding, and the availability of customer support are all aspects that can directly affect user experience and efficiency.
What do you think?
Choosing the right medical billing software can boost your efficiency, compliance, and earnings. Look for functions, features, and ease of use. Each software has its strengths and caters to different needs. Share your insights and recommendations with me and my readers. I'm eager to explore new alternatives!