Either it be a private practitioner or we talk about a whole healthcare facility, e.g., a hospital, there are a quite large number of responsibilities to be fulfilled. Consider a private practitioner, he needs to primarily attend to his patients.
Besides that, there is a lot of work that only he can manage, e.g., checking test results, reviewing them and making test reports, call patients with abnormal results, attending to medication refill requests, etc. His duties and responsibilities by no means are exhausted here. He needs to consider many more aspects to keep his medical practice alive and growing.
One of the most tiring responsibilities is to check on his billing codes for medical claim submissions. This task requires much effort and expertise. Besides tiring the practitioner, it also isn’t that effective method to resolve the billing issues.
Most probably, he would, at last, opt for transferring this work to his staff. The staff being not trained for it can cause major monetary losses. That’s where the need for a medical billing service arrives.
Now the question arises…
What are Medical Billing Services?
Medical Billing Services include medical coding, medical claims management, claim denials, claim to follow-ups, and at the last, collections. Some companies may provide additional services, such as insurance verifications, physician credentialing, etc.
Remember that these services aren’t only essential for private practitioners but also for larger healthcare facilities, e.g., hospitals, where handling the complicated billing processes of the large facility isn’t possible for a single person or even an untrained team. You will require a professional team for this purpose.
5 Best Medical Billing Services in 2021
If you own a healthcare facility and is disturbed due to billing issues, considering a medical billing service is all that you need. Here is a list of the five best medical billing companies that you can opt for your medical facility billing services. Before coming to any final decision, do read this list thoroughly.
1. Kareo
Kareo is one of the leading medical billing companies. These services are especially for independent practitioners, hence they have excluded many services that are considered specific for large medical facilities, making themselves even more suitable for independent practitioners. They provide services in a variety of packages which makes them flexible to some extent, but the drawback is that they do not provide a customization facility.
Kareo provides many facilities including telehealth, streamlines the patient self-pay process, check out on patient statements, data analysis, and most importantly mobile apps for a better customer experience.
2. Athenahealth
Athenahealth is a cloud-based medical billing company that provides various services including Electronic Health Records (EHR), Revenue Cycle Management, Patient Engagement, Care Coordination, Population Health, Telehealth, Platform, and Advisory Services, etc.
Although all their services are available for solo practitioners and large healthcare facilities, it is generally observed that their services rendered solo practitioners unhappy and unsatisfied.
If you run your own private medical practice you might choose any other service, but for larger facilities, athenahealth is definitely a good option.
3. AdvancedMD
AdvancedMD by far is considered to be the best medical billing service providing the company with its various advanced services and a first-pass success rate of 95%.
Some of their services include EHR, scheduling, medical billing, practice management, patient engagement software, and telemedicine. They render exceptional services for both solo practitioners and larger medial facilities with both their standard and customizable packages.
Besides all that, AdvancedMD has mobile apps for a better user experience. But a drawback over here is that these apps aren’t android supported. You need an iOS to run them.
4. CareCloud
With a first-pass success rate of 94%, care-cloud, a cloud-based medical billing company is considered one of the leading companies in its field.
Some of their services include revenue cycle management, practice management, electronic health records, patient experience, healthcare analysis, telehealth, and various mobile apps. Their user-friendly interface and the option available for customization make them a better choice than many others available in the market.
Their costs are a little higher especially for start-ups and also by increasing contract duration to at least three years.
5. CureMD
CureMD is a cloud-based medical billing service with a first-success rate of 96%. With the professional friendly design, they offer many professional services.
Some of their services are EHR, specialty EHR, medical billing services, etc. The most important point is that their medical billing services include a whole package fulfilling all the requirements.
You would have had an insight into all these medical billing companies. You can also surf the internet and find much detail about each company before coming to a final decision. Do keep your business type in mind while selecting any of these companies.
Read Also:
- The Price Is Right With Wholesale Medical Supplies
- Opening Your Own Private Medical Practice? Here’s What You Need to Consider
- 32+ Profitable Healthcare Business Ideas in 2021
Author: Ayesha Gulbaz
