The Best Medical Billing Software of 2024
- DrChrono: Best overall
- Kareo Billing: Best for small practices
- CureMD: Best for large practices
- AdvancedMD: Best patient portal
- CentralReach: Best for behavior therapists
Best Overall Medical Billing Software
DrChrono
4.7
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Starting Price
Contact for quote
Free Trial
30 days
Scheduling
Yes
Via partner site
Contact for quote
30 days
Yes
Why We Picked It
DrChrono is a cloud-based medical billing software solution that serves as a patient management portal. Anyone in the office can access patient data easily online or via an iPad or iPhone app. The system helps medical providers manage patient intake, care, clinical charting and billing.
Intake nurses can enter patient vitals data, while doctors can leave patient notes regarding patient visits. Doctors can prescribe controlled substances using the Electronic Prescribing Controlled Substances feature, making it quick and easy to remain compliant. The system also allows you to order lab tests from among 45,000 U.S. labs, making it convenient for patients to get doctors the right health details and results.
Doctors are further able to annotate records and use an iPad to upload instant photographs to embed in the patient record. When it comes to billing, billing codes can be pre-populated, making it easy to complete any task. The system integrates with the HIPAA-compliant cloud storage system, Box, along with a host of other partner apps.
Learn more: Read our full DrChrono review.
Who should use it:
Medical providers of all sizes and billing offices will appreciate the simplicity of DrChrono and be able to streamline their patient management tasks.
Pros & Cons
- Practice-based pricing
- Record annotation
- Integrates with many partner apps
- No phone support, only e-tickets
- Limited search features and poor navigation
Best for Small Practices
Kareo Billing
4.3
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Starting Price
Contact for quote
Free Trial
No; demo available
Via partner site
Contact for quote
No; demo available
Yes
Why We Picked It
Kareo Billing is a web-based patient management system that includes both medical billing features and patient data functions. When it comes to billing, the system automates many features, so when practitioners enter patient data, the billing codes process insurance immediately.
Kareo Billing is a comprehensive solution for managing patient care. It has an integrated schedule that sets appointment reminders so that patients can stay on top of upcoming and needed appointments. This helps reduce no-shows and allows the practitioner to set annual appointments as needed.
Practitioners will also like the business management features of Kareo, which include billing analytics, document management and agenda planner. This medical billing software is ICD-10 compliant, which are the codes required for healthcare services provided on or after October 1, 2015.
Who should use it:
Kareo Billing is best for small practices that don’t have a lot of transaction volume so that they can take advantage of the per-claim billing structure.
Read more:
Read our full Kareo Billing review.
Pros & Cons
- Easy to use
- Comprehensive analytics
- Immediate processing
- Scheduling is fee-based
- Poor customer support and training
Best for Large Practices
CureMD
4.2
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Starting Price
Contact for quote
Free Trial
No; demo available
Scheduling
Yes
Via partner site
Contact for quote
No; demo available
Yes
Why We Picked It
CureMD is a comprehensive medical practice solution that offers billing, electronic health records management and a patient portal so that patients have the opportunity to log in and see their records. It is a cloud-based solution that works on subscription packages. As part of its service, it offers professional site hosting, training and security for practices so that they can get the most out of the system.
CureMD is integrated with thousands of pharmacies and labs, making it easy for doctors to order patient drugs and tests. Because there are so many options, patients benefit from the convenience of getting medications or tests done close to home or work.
Along with the online solution, an iPad app also helps streamline patient intake and appointment notes. Medical providers particularly like the insurance claim settlement features that automate the billing process, removing a lot of the paperwork burden from the task.
Who should use it:
CureMD is a comprehensive solution for large practices looking to automate as many functions as possible so they can spend more time with patients than on paperwork.
Learn more:
Read our full CureMD review.
Pros & Cons
- iPad app streamlines tasks
- Advanced reporting
- Large network of pharmacies and labs
- Unintuitive implementation
- Browser version only works on Internet Explorer
Best Patient Portal
AdvancedMD
4.0
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Starting Price
58 cents
per encounter
Free Trial
No; demo available
Scheduling
Yes
Via partner site
58 cents
per encounter
No; demo available
Yes
Why We Picked It
AdvancedMD is a cloud-based patient management platform that runs on the Amazon Web Services (AWS) cloud hosting platform. This helps make the system fast and reliable—something important to busy medical providers who want to ensure the system is always up rather than running into delays. Users can access data online or via iPads in a secure environment. The platform adheres to the ISO 27001 standards, which is a multidisciplinary risk management approach.
Medical offices can use the platform for scheduling appointments, charting patient records, billing and patient relationship management. AdvancedMD automates most processes and makes getting an overview easy with intuitive dashboards and analytics.
Patients are encouraged to provide feedback through a patient portal. This real-time data helps practitioners better serve their clients and improves patient retention numbers. The system utilizes specialty cards that compartmentalize certain data, making it a faster and more personal way to interact with patients.
Who should use it:
AdvancedMD is best for providers who prefer personalized client interaction, helping empower patients to be proactive in their medical care.
Read more:
Read our full AdvancedMD review.
Pros & Cons
- Secured iPad function
- Fast system processes
- Comprehensive patient portal
- Negative user reviews
- Poor customer service reports
Best for Behavior Therapists
CentralReach
3.9
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Starting Price
Contact to quote
Free Trial
30 days
Scheduling
Yes
Via partner site
Contact to quote
30 days
Yes
Why We Picked It
CentralReach is a specialized medical billing software and practice management system that focuses its clinical platform on Applied Behavior Analysis (ABA) therapies. This means it is the perfect system for practitioners treating autism and other related cognitive disorders.
When it comes to billing solutions, CentralReach has integrated billing functionality. As a complete solution, it provides claim scrubbing so that you can process claims faster and have fewer payment issues. The clearinghouse is integrated for efficiency, reducing claims processing tasks of your office staff. The system easily identifies secondary and tertiary insurance providers to ensure that all payment resources are tapped, helping patients maximize their benefits.
The system has a mobile app that helps clinicians enter data in real time. It also has a number of templates that make clinical documentation easy; these templates can be customized easily and pre-populated with the provider, client and billing details. CentralReach is both HIPAA and PCI compliant.
Who should use it:
CentralReach is best suited for behavioral therapists working with ABA therapies, including those who have individual practices or those contracted within the education system.
Pros & Cons
- Free trial
- Easy secondary insurance billing
- Customizable templates
- Delayed reporting effects accuracy of data
- Reports of notes lost due to system freezing
Methodology
Forbes Advisor uses a proprietary methodology to compare the best medical billing software providers. In the methodology, we review:
- Free trial: Does the billing software offer a free trial or not?
- Standard features: We looked at whether or not the software offered role-based permissions, scheduling, billing and advanced reporting.
- Third-party ratings: We looked at Capterra and G2 ratings to see if they averaged a 3.5 or higher.
- Ease of use: We wanted software platforms that were easy to use and intuitive.
Each criterion was assigned a score and compared among the whole set of provider reviews. In total, we reviewed over forty providers to come up with this list of the five best.
What You Need to Know About Choosing a Medical Billing Software
When choosing a medical billing software platform, it is important to get a demo or free trial of the system first. This allows you to see exactly how the system will work with your medical practice. Look for integrated features that do more than medical billing—seek an option that genuinely helps you run your entire medical practice from one portal. This streamlines your office tasks and simplifies what you need to do daily to make sure that appointments are made and kept, notes are integrated into records and you remain compliant with the privacy laws.
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Frequently Asked Questions (FAQs)
What are the steps in the medical billing process?
The steps in the medical billing process are:
- Patient registration and financial responsibility.
- Superbill creation using checkout data.
- Claims generation, where the medical claim is checked for accuracy and submitted.
- Monitor claim adjudication to make sure all claims are valid and compliant.
- Patient statement preparation to list what insurance covers and the patient’s responsibility.
- Statement follow-up to ensure that all bills are getting paid timely.
Why use medical billing software?
Medical billing software reduces the amount of work that doctors and their staff must do to get bills paid. This helps ensure that medical providers remain compliant with privacy laws. Overall, it makes the process efficient in a safe, secure portal.
How much does medical billing software cost?
The cost of medical billing software will vary depending on the software choice, plan size and whether or not the billing software charges a per-provider fee or a per-transaction fee.
What are some important features of medical billing software?
The features you want to see when choosing medical billing software include it being Health Insurance Portability and Accountability Act (HIPAA)-compliant, that it offers medical coding and data encryption, provides multiple forms of security―such as two-factor authorization (2FA)―provides scheduled backups and technical support, offers claims management and revenue management, offers medical schedule and a trial period and several training options.
What are the best options for medical billing software?
Many companies in the medical field offer quality options for medical billing software. However, in Forbes Advisor’s opinion, the best overall provider is DrChrono, which is a cloud-based medical billing software solution that serves as a patient management portal. For smaller medical practices, Kareo Billing is also a good option while larger practices may benefit from using CureMD.
Based on the information provided in the article "The Best Medical Billing Software of 2024," I can provide information about the concepts mentioned in the article. Here are the key points:
DrChrono: Best overall
- DrChrono is a cloud-based medical billing software solution that serves as a patient management portal.
- It allows easy access to patient data online or via an iPad or iPhone app.
- The system helps medical providers manage patient intake, care, clinical charting, and billing.
- It offers features such as entering patient vitals data, leaving patient notes, prescribing controlled substances, ordering lab tests, and annotating records.
- DrChrono integrates with the HIPAA-compliant cloud storage system, Box, and other partner apps.
- It is suitable for medical providers of all sizes and billing offices [[1]].
Kareo Billing: Best for small practices
- Kareo Billing is a web-based patient management system that includes medical billing features and patient data functions.
- It automates billing features, processing insurance immediately when practitioners enter patient data.
- It has an integrated schedule that sets appointment reminders and helps reduce no-shows.
- Kareo Billing offers business management features such as billing analytics, document management, and agenda planner.
- It is ICD-10 compliant, which is required for healthcare services provided on or after October 1, 2015.
- Kareo Billing is best for small practices with a low transaction volume that can take advantage of the per-claim billing structure [[2]].
CureMD: Best for large practices
- CureMD is a comprehensive medical practice solution that offers billing, electronic health records management, and a patient portal.
- It is a cloud-based solution that works on subscription packages and provides professional site hosting, training, and security for practices.
- CureMD is integrated with thousands of pharmacies and labs, making it easy for doctors to order patient drugs and tests.
- It offers insurance claim settlement features that automate the billing process.
- CureMD is suitable for large practices looking to automate as many functions as possible [[3]].
AdvancedMD: Best patient portal
- AdvancedMD is a cloud-based patient management platform that runs on the Amazon Web Services (AWS) cloud hosting platform.
- It provides scheduling appointments, charting patient records, billing, and patient relationship management.
- AdvancedMD offers fast and reliable system performance and adheres to ISO 27001 standards for risk management.
- It encourages patient feedback through a patient portal, which helps improve patient retention.
- AdvancedMD is best for providers who prefer personalized client interaction and want to empower patients to be proactive in their medical care [[4]].
CentralReach: Best for behavior therapists
- CentralReach is a specialized medical billing software and practice management system that focuses on Applied Behavior Analysis (ABA) therapies.
- It provides integrated billing functionality, claim scrubbing, and efficient claims processing.
- CentralReach has a mobile app for clinicians to enter data in real-time and customizable templates for clinical documentation.
- It is HIPAA and PCI compliant and is suitable for behavioral therapists working with ABA therapies [[5]].
Please note that the information provided is based on the article "The Best Medical Billing Software of 2024" and the concepts mentioned in it.
