Billing Medical Software --Which is Best For Your Practice?
Researching your billing medical software options can be time consuming--but if you don't do your homework now you may choose the wrong billing coding medical software for your practice, causing numerous claim problems for you in the future.
Spend the time to really research and compare your medical billing software choices to select the best software package for your office. It will be time well spent.
Minimally, most leading billing coding medical software should enable you to do insurance claims filing (both electronic and by paper), patient billing, scheduling, as well as provide detailed reporting and accounts receivables.
Many billing medical software packages have additional billing options available for specific specialties such as dentists, physical therapists, chiropractors, DME or mental health providers.
A growing number of medical practice billing software packages offer an electronic medical records (EMR) management option, which is becoming a very popular service.
In addition, look for applications such as:
- The ability to have secondary billing be automatically triggered after the primary insurance has paid its portion
- The ability for 835 remittance files to be posted with insurance payments, adjustments and denials.
- Data accuracy check to ensure claims contain all required information prior to submission to the payer. If accounts are missing required information this will flag accounts allowing staff to make proper corrections.
- Contract Management which will allow providers to evaluate expected reimbursement against actual reimbursement for payment review; knowing whether claims are paying according to contract can prevent lost revenue.
- The ability to scan of insurance cards and other billing information giving staff in different locations access the same information.
- Standard and Customized Reporting features, which will give providers the ability to evaluate revenue cycle performance. Providers can generate reports such as revenue and denial reports which will help maximize performance.
Compare Billing Medical Software: Get multiple quotes to find the best software for your needs:
Everything Medical Billing has partnered with nationally recognized BuyerZone as a service to our readers. Simply answer a few questions about how you plan to use your billing and coding medical software and compare options to get the best solution for you and your clients:
Beyond the basic features offered, you will also need to decide whether PC based software or Web based software is best for your health care practice or medical billing service. Consider the pros and cons of each:
WEB BASED MEDICAL BILLING SOFTWARE
With the evolution of the web based medical billing software, you can now easily find a wide variety of billing medical software options that you can use to file and manage your medical claims online.
PROS:Limited upfront software feesEasy access to your web based data--You and your doctors can access your records safely and securely anywhere you have a computer and high speed internet access. ***This is especially important if you own a medical billing business--Most providers want immediate online access to there practice data.
Increased security: Multiple users must log in individually, creating an electronic record of who is accessing patient information.Unlimited users--many offer this feature at little or no additional charge.Check eligibility and access EOB's online through the web based softwareNo software to buy or installNo upgrade costs--The majority do not have additional yearly or upgrade costs, (but you know the drill, always check the fine print).No server neededAutomated data backup onlinePaperless option
CONS:Monthly fees--The monthly fees (typically determined by the number of users) vary significantly between web based medical office billing software providers which can be cost prohibitive if you are a medical billing service and have a lot of small doctors. This may not be much of an issue if you're a sole practitioner or part of a health care practice that has a limited number of users.Dependent on the internet--if your internet service goes down you no longer have access to your claims data base.What do you do if your cloud based software company goes out of business?--In our opinion, this is the negative you really need to look at closely. Make sure you are confident that you would still be able to access you data somehow should the web based software provider suddenly go out of business.
Get more information about Web-Based Medical Billing Management Software
PC BASED BILLING MEDICAL SOFTWARE
This is the traditional PC or client based billing medical software which has been around for years and is loaded directly onto your computer.
PROS:Control--The billing and coding medical software is actually on your computer so if the software company goes out of business you still able to continue billing your claims in most cases. (Though you will not have any technical support should you have a problem with your software).No monthly fees--Typically you would only have a reasonable yearly and/or support fee and potentially an additional charge if your billing medical software vendor releases a newer version.Not dependent on the internet- Especially beneficial if you live in an area that does not have reliable high speed internet access.
CONS:Larger upfront costs--While the cost of billing medical software varies significantly, the initial investment can be thousands with some being well over $10,000Limited access to data--It is far more difficult for your doctors to have access to their data. This often requires frequent calls from the doctors or their patients needing information about an insurance claim payment or a patient's balance. It also requires you to supply more weekly and/or monthly practice management reports for your doctors.Installing and maintaining software--You will be responsible for installing the software and any updates and patches. You will also need to perform manual data backups at your office and secure the data to meet HIPAA standards.
MEDICAL BILLING BUSINESS PACKAGES
You will come across software companies offering what are often referred to as "turn-key" medical billing package. These typically consist of billing and coding medical software combined with training, technical support, as well as different levels of marketing assistance.
But buyer beware! While these billing medical software package deals are convenient and can sound attractive, they often come at a much higher price than you can get by buying the services separately from multiple sources (as is covered in great detail on this site). You also have the risk of paying a large upfront fee and having the company go out of business.
Regardless of which option you choose, it is crucial that you thoroughly research each software company. Don't forget the old standbys such as the Better Business Bureau and the Federal Trade Commission. Be sure to order a demo of each medical billing software you are considering, check references and also visit some of the medical billing forums to get additional ideas.
Billing Medical Software
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