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The Best Medical Billing Services of 2022

By
Max Freedman
,
Business News Daily Contributing Writer
| Updated
Dec 05, 2022

Find the right medical billing services for your practice based on practice size, claim volume, flexibility and other needs.
Best for New Practices
DrChrono Medical Billing
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Flexible services
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Customizable reports
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Integrated EMR system and PMS
Best for Reporting
athenahealth Medical Billing
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Thorough reporting suite
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Similar-practice analysis
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Hands-on consultation
Best for Large Practices
AdvancedMD Medical Billing
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96% first-pass acceptance rate
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Highly experienced staff
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Hundreds of customizable reports
Best for Tracking Claims
Kareo Medical Billing
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Great user experience
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Flexible services
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Over 95% first-pass acceptance rate
Best for Tracking KPIs
CureMD
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32 medical specialties
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Competitive pricing
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Easy navigation
Find the right medical billing services for your practice based on practice size, claim volume, flexibility and other needs.

Best Medical Billing Services


  • Medical billing services are third-party companies that handle a medical practice’s revenue cycle management.
  • The cost of medical billing services ranges from 3% to 10% of a practice’s monthly collections.
  • Based on our research, DrChrono is the best medical billing service for new practices, AdvancedMD is best for large practices, and CareCloud is the most flexible.
  • This article is for medical practice administrators considering outsourcing their revenue cycle management (RCM) to a medical billing service.

Medical practices contend with a convoluted billing process involving payers, clearinghouses, rejections and denials. This system can often mean practices have to wait weeks or months to see payment for services rendered to patients. It’s also a highly bureaucratic process, requiring dedicated medical billers and coders creating and tracking claims until payment is received. All these factors could add up to immense costs and serious cash flow challenges.

That’s why there are RCM services, also known as medical billing services. These outsourced services will handle some or all of the aspects of a practice’s medical billing needs. To help you find the best medical billing service for your organization, we reviewed the following services.

Find the Right Medical Billing Service for Your Business

Fill out this questionnaire to find vendors that meet your needs.

Compare Our Best Picks

Medical billing service Editor’s score (out of 100) Best use case Pricing (% of monthly collections) End-to-end RCM? Contract requirement Practice management software required? First-pass claims acceptance rate* Credentialing support Operating systems
athenahealth 93 Reporting 7% to 8% No medical coding or denied/rejected claims management in some cases 2 years Yes 93% Full service, recredentialing Windows 8.1, 10; macOS; iOS
AdvancedMD 92 Large practices 3% to 8% No medical coding 1 year Yes 96% (contractually guaranteed) Full service, recredentialing Windows 10; macOS
RXNT** 88 Medical billers Starts at $65 per month plus per-claim charge N/A 1 year N/A N/A NPIs, DEA licensure Windows; macOS
DrChrono 87 New practices Requires quote Yes 1 year Yes 96% Full service, recredentialing Windows 7 and above; macOS 10.12 and above
MedClarity 82 Dermatologists Requires quote Yes Varies Yes >95% Full service, recredentialing Windows 7 and above
Kareo 86 Ease of use Varies among third-party billers Works with third-party billers 30-day cancellation notice Yes >95% Full service, recredentialing Windows 10
CureMD 86 Tracking KPIs Starts at 5% Yes 1 year Yes 96% Applications, follow-up Windows 10
MedicsRCM 82 Growing practices 3% to 6% Yes Varies Yes ~99% Full service, recredentialing Windows 10
ChartLogic 85 Free implementation 3% to 6% Yes 2 years Yes >95% Full service, recredentialing Windows 8.1 and 10
CareCloud 88 Flexibility 3% to 7% Yes 3 years Yes (from any vendor) ~97% Full service, recredentialing Windows 7 and above; macOS 10.6 and above

*Some billing companies rely on a composite first-pass claims acceptance rate, which may slightly inflate the percentage of claims truly accepted and paid on the first pass.

**RXNT does not offer medical billing services; instead, it provides software used by medical billers in practices and at RCM companies.

Our Reviews

DrChrono Medical Billing: Best Medical Billing Software for New Practices

pro
DrChrono is great for new practices in need of medical billing, as it handles the entire revenue cycle.
pro
DrChrono has a high FPAR of 96%.
con
DrChrono requires you to use its practice management software as well as its EMR system.

Editor’s score: 86/100

In our review, we found DrChrono’s RCM services ideal if you are opening a new medical practice and need a lightweight yet effective system to get started. The company can handle your entire billing cycle, from charge entry and coding to final payment, while achieving an above-average FPAR of 96%.

DrChrono not only thoroughly scrubs your claims before filing them, but it also monitors your claims throughout the approval process. These processes largely explain how DrChrono achieves its high FPAR. In the rare event that any claims are denied, DrChrono will oversee the entire process of rectifying them and getting them approved and paid.

DrChrono’s RCM services include access to its EMR system and PMS. Like most medical billing services, DrChrono requires you to use its PMS. However, unlike most services, DrChrono also mandates that you use its EMR system, and you’ll have to pay for the data migration if you need to switch EMR platforms to make this happen.

EverCommerce, a medical software-as-a-service company, recently acquired DrChrono. This acquisition has resulted in EverCommerce adding DrChrono to its EverHealth integrated medical software.

That said, EverCommerce already has its own medical billing service, AlertMD. It remains unclear whether EverCommerce will merge AlertMD and DrChrono into one new product or AlertMD will absorb all DrChrono medical billing features and staff. For now, DrChrono remains a distinct entity with no changes to its medical billing operations.

Read DrChrono Medical Billing Review

athenahealth Medical Billing: Best Medical Billing Service for Reporting

pro
Athenahealth's consulting and reporting services go above and beyond those of most RCM services.
pro
The athenahealth rules engine scrubs your claims based on common denials from a uniquely large network of nearly 7,000 other practices.
con
Athenahealth often won't enter and code your charges or manage all your denied claims, so you'll need an in-house medical biller.

Editor’s score: 93/100

In our review, we found that athenahealth is an excellent RCM pick for practices interested in a hands-on consultative approach.

Athenahealth’s medical billing team will use its rules engine to scrub your claims for common errors. The information behind this engine comes from common payer denials among athenahealth’s vast network of nearly 7,000 practices and 150,000 providers. You can customize athenahealth’s services to reflect your payers’ common reasons for denial as well.

Athenahealth’s standout tool is its consulting and reporting suite. Its billing team will reach out to you first if it notices a drop in performance or metrics below the standard for practices similar to yours. You’ll also receive custom reports and learn how to manage your practice for higher profits. This extent of consultation is rare among RCM services and, for some practices, may make up for athenahealth’s flaws.

Read athenahealth Medical Billing Review

AdvancedMD Medical Billing: Best Medical Billing Service for Large Practices

pro
AdvancedMD has an especially high first-pass acceptance rate of 98.4%.
pro
AdvancedMD is well versed in working with large practices.
con
AdvancedMD won't code or enter your charges.

Editor’s score: 92/100

We’ve chosen AdvancedMD as the best medical billing service for large practices. Its RCM team boasts a first-pass acceptance rate (FPAR) of 97.68%, which is especially high among the companies we reviewed.

AdvancedMD’s high FPAR stems from the fact that all its billing team members must have at least one year of experience, and many are certified medical coders. These experts are more than qualified to scrub your claims in ways that minimize errors. That said, you’ll have to do the work to get your claims into AdvancedMD’s system, as its billing services don’t include charge entry or coding.

In the rare event that your claims are denied, AdvancedMD will handle all the work involved in pursuing them, keeping the burden off your staff so you can focus on delivering care. We also like how AdvancedMD will follow up with payers or patients who haven’t yet paid their bills.

Large practices in need of medical billing services can work with AdvancedMD. Its clients’ average number of monthly patient encounters is 317,000, though some clients see as many as 350,000 patients per month.

When it comes to customer service, AadvancedMD is implementing new tools to help ensure they are meeting their customers’ needs. Since making changes to its phone system, clients have said that the switch is resulting in more streamlined, convenient customer service. This prioritization of excellent customer service is a huge plus for AdvancedMD medical billing clients.

Read AdvancedMD Medical Billing Review

Kareo Medical Billing: Best Medical Billing Service for Tracking Claims

pro
Kareo is great for small practices that want to outsource only some of their billing needs.
pro
Kareo offers an especially user-friendly PMS where you can track its billing team's progress on your claims.
con
Kareo doesn't typically respond to its Better Business Bureau complaints.

Editor’s score: 86/100

Kareo is another excellent choice for small practices, especially those that need to outsource only part of their RCM. These practices will benefit from Kareo’s ability to oversee small, modest or large swaths of the process while remaining accountable to you. Because Kareo requires you to use its PMS, you’ll see real-time updates of its billing team’s progress with your claims.

With Kareo, you’ll get the standard features for medical billing services, including charge entry and coding, claim scrubbing, denied-claim management and follow-up on unpaid claims. You’ll also get full access to Kareo’s EMR system at no additional cost. Also included are Kareo’s clearinghouse fees, for which some other billing services charge extra.

Kareo’s automated billing service sends patients text, email and printed statements to have up-to-date records of their bills. This helps ensure that patients can receive bills in the form that is most convenient for them. The convenience and accuracy this service provides have resulted in more than 1,600 billing companies across the U.S. using Kareo.

Kareo is especially well known for its user-friendliness. Its EMR and PMS dashboards resemble social media feeds, and most features are accessible with just one or two clicks. We were slightly concerned to see that Kareo does not respond to customer complaints on the Better Business Bureau’s site. That said, conflating this lack of responsiveness with a bad product is ill-advised – overall, Kareo is quite strong.

Kareo has merged with the healthcare marketing agency PatientPop. The merger gives all customers of one service access to the other. Since Kareo’s medical billing service includes access to its EMR system, it now also includes access to PatientPop. This arrangement means that, when choosing Kareo for medical billing, you’ll also get robust patient acquisition tools. For now, Kareo and PatientPop remain distinct brands, but they will eventually become the joint brand Tebra.

Read Kareo Medical Billing Review

CureMD: Best Medical Billing Service for Tracking KPIs

pro
CureMD offers medical billing services to 32 specialties at competitive prices.
pro
CureMD's services include charge entry and billing, credentialing, and schedule review.
con
CureMD's setup and implementation can be difficult and time-consuming, and since you must also use the company's PMS, you can't avoid these steps.

Editor’s score: 86/100

CureMD is among the most versatile medical billing services we reviewed. It can manage the revenue cycle of 32 medical specialties with its vast knowledge of ICD-10 codes and payer rules. It also charges as little as 5% of your monthly collections. Most of the companies we reviewed charge 6% to 8% of monthly collections (and some charge as high as 9%), making CureMD’s pricing highly competitive.

Although medical coding and billing are its bread and butter, you can also hire CureMD for denial management, credentialing, schedule review and insurance eligibility verification. CureMD says its FPAR is 96%, which is competitive with the industry standard. 

Unlike many other RCM services we reviewed, CureMD handles the majority of your implementation needs and takes a substantial burden off your plate. It will also train your team on how to use its platform. Nevertheless, some CureMD customers say that the implementation process is challenging and lengthy. And it’s not like you can avoid implementing CureMD’s software – like most medical billing services, CureMD requires you to use its PMS. 

CureMD recently launched a new COVID-19 rapid testing platform to help practices manage demands for testing. The software can remind patients about their upcoming appointments, send test results, and automatically scrub and submit electronic claims. It also gives each patient a “digital health card” through which they can view their testing and results history.

The good news is that, after the challenges of setup, CureMD’s medical software platform is easy to navigate. For user-friendly, low-cost, versatile medical billing, CureMD is an excellent choice.

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MedicsPremier: Best Medical Billing Service for Growing Practices

pro
MedicsPremier's medical billing services cost 3% to 6% of your collections, which is highly competitive even at the high end.
pro
MedicsPremier says that its rules-based claim-scrubbing engine results
con
MedicsPremier has one of the least user-friendly software interfaces we reviewed, likely requiring extensive training during implementation.

Editor’s score: 82/100

MedicsPremier is a low-cost medical billing service with features that offer value greater than what you’ll actually pay. MedicsPremier costs 3% to 6% of your monthly collections, a very competitive range compared to other medical billing services we reviewed.

In our review, we found that MedicsPremier will scrub your claims using a proprietary rules engine, through which it claims it can achieve an FPAR of over 99%. For any claims that slip through and get denied or rejected, MedicsPremier will manage the entire revision and resubmission process. MedicsPremier will also verify your patients’ insurance so you can know whether your payers will actually cover your services.

We like that MedicsPremier billing services include credentialing with both clearinghouses and insurance companies. The company will post any explanations of benefits and electronic remittance advice that you and your patients should see. MedicsPremier can also help uninsured patients find insurance (though the patient is ultimately responsible for signup). This service is unique to MedicsPremier.

Although MedicsPremier is a cost-effective medical billing choice, the software interface isn’t very user-friendly. Without thorough training, your team may find the software difficult to navigate effectively. However, between MedicsPremier’s low price and high FPAR, growing practices may still find it to be the right choice to build on their momentum.

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CareCloud Medical Billing: Best Flexible Medical Billing Service

pro
CareCloud is a medical billing service provider that can manage part or all of your revenue cycle.
pro
Unlike almost every other medical billing service we reviewed, CareCloud doesn't require you to use its PMS.
con
CareCloud's setup process is expensive, and the company typically requires a three-year contract.

Editor’s score: 87/100

CareCloud is a medical billing service that can manage part or all of your revenue cycle. You can also opt in to CareCloud’s medical software and consulting services when you hire the company for RCM. Even better, CareCloud is unlike most medical billing services in that, as of its 2020 acquisition by MTBC, it doesn’t require its RCM clients to use its PMS. This PMS-agnostic structure is exceedingly rare among medical billing services.

Like every medical billing service we reviewed, CareCloud takes a percentage of your monthly collections as its commission. The percentage you can expect to pay is between 3% and 7%. Rates on the high end are common among medical billing providers, but rates on the low end are somewhat rare. Your exact rate will depend on standard factors such as your average claim volume and value, billing complexity, specialty, and practice size.

CareCloud is a flexible and often low-cost medical billing solution, minus its setup. CareCloud often charges high setup fees, typically no less than $1,000, which could exceed the budgets of smaller practices. For high-revenue practices in need of flexible solutions, however, CareCloud is an excellent choice.

Read CareCloud Medical Billing Review

ChartLogic: Best Medical Billing Service for Free Implementation

pro
ChartLogic's medical billing services are among the most competitively priced we saw in our reviews.
pro
ChartLogic pairs you with a dedicated account manager who's well versed in your specialty and local payer rules.
con
Some clients complain of poor customer service and challenges during the data migration step of the implementation process.

Editor’s score: 85/100

ChartLogic is among the most hands-on medical billing services we reviewed. All ChartLogic RCM clients are paired with a dedicated account manager during setup. This contact will check in with you before and after implementation to solve any problems. 

Alongside this extensive support comes a team of certified medical coders and billers. Each biller or coder on ChartLogic’s staff is highly experienced in a certain medical specialty and will be assigned to you accordingly. Among billers and coders well versed in a given specialty, you’ll be paired with contacts who know your local payers’ unique rules.

ChartLogic provides all of this at a low cost. You’ll pay 3% to 6% of your monthly collections to use ChartLogic, which is competitively priced even on the high end. 

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MedicsRCM: Best for Growing Practices

pro
MedicsRCM's medical billing services cost 3% to 6% of your collections, which is highly competitive even at the high end.
pro
MedicsRCM says that it can lower your operating expenses by 20%.
con
MedicsRCM has one of the least user-friendly software interfaces we reviewed, likely requiring extensive training during implementation.

Editor’s score: 82/100

MedicsRCM is a low-cost medical billing service with features that offer outstanding value. It charges 3% to 6% of your monthly collections – a very competitive range compared to other medical billing services we reviewed.

We found that MedicsRCM claims it can achieve an FPAR of over 99%. This value is among the highest we encountered in our reviews. For any claims that get denied or rejected, MedicsRCM will manage the entire revision and resubmission process within three days. MedicsRCM will also verify your patients’ insurance so you can know whether your payers will actually cover your services.

We like that MedicsRCM takes the time to understand your payer mix, specialty and state billing requirements. With this information, MedicsRCM can submit your claims at their highest possible value, potentially earning you more revenue. MedicsRCM also offers out-of-network scheduling alerts, 24/7 data access and a patient responsibility estimator. MedicsRCM says these features can increase your net collections by 7% and reduce your operating expenses by 20%.

Although MedicsRCM is a cost-effective medical billing choice, the software interface isn’t very user-friendly. Without thorough training, your team may find the software difficult to navigate effectively. However, between MedicsRCM’s low price and high FPAR, growing practices may still find it to be the right choice.

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Medical Billing Costs

Medical practices can expect to pay 3% to 9% of their monthly collections for RCM. Your exact rate will depend on several factors, including your claim volume, average claim value, billing cycle complexity and practice size.

Depending on your rate, outsourcing your medical billing may prove more expensive than hiring an in-house team. However, outsourced medical billing often includes detailed financial reporting and specialty expertise that an in-house team might not offer.

To make the proper choice between in-house and outsourced, you should ask your RCM candidates for full details of the services you get with your plan. You should also clarify whether clearinghouse fees, if applicable, are part of the monthly cost or added on later. Lastly, you should check whether copays count as part of your collections. The answer will affect how much you pay monthly.

Key Medical Billing Features

These are some of the most important features of a medical billing service:

Charge entry and coding

Though this is not universal, most medical billing service providers will handle charge entry and coding, kicking off the billing process at its very first step. This step even precedes claim scrubbing and submission – without it, the process hasn’t truly begun. If your medical billing company of choice doesn’t offer this service, an in-house staff member will need to handle it.

Claims scrubbing

Thoroughly scrubbed claims are far less likely to result in denials or rejections, especially when your medical billing service of choice includes a rules engine. Companies with these engines automatically check their claims for errors that payers commonly use to deny or reject claims. Once these errors are flagged, you or your medical billing company can revise them and refile your claims with these mistakes excluded. The result will be a higher FPAR and faster payment.

Denied-claims management

No medical billing service can entirely avoid denied claims, but most medical billing companies will manage the revision and resubmission processes when this does happen. Some companies will go the extra mile and prioritize denied claims to get them paid as soon as possible. In either case, your back-office staff won’t be left poring over rejected or denied claims, trying to find and fix errors before resubmission.

Medical software access

While not necessarily reflective of the quality of the billing service itself, most RCM companies include access to their PMS and EMR system in their offerings. This can be a cost-effective way to gain access to some of the top medical software on the market. Most medical billing providers will also require you to use their PMS, though you can typically use whichever EMR system you please. If not, you may have to pay extra to migrate your data from your old EMR system to your new one.

Flexible services

Some medical billing companies can manage as much or as little of the revenue cycle as you need. If you’re only looking for someone to pick up the slack after you file your claims, you can arrange an appropriate deal. But if you’re looking to entirely outsource your RCM, you can do that as well. However, some medical billing companies don’t offer certain services, such as charge entry and coding. In this case, you may need in-house billers and coders.

Integrated clearinghouse

As part of your medical billing service, you want either a fully integrated clearinghouse or a partnership with one that results in no extra fees for your practice. Most of the companies we reviewed have one of these two arrangements, and a small number even bypass clearinghouses entirely and submit medical claims directly to payers. Make sure to ask about clearinghouses and fees anytime you speak with a potential billing services provider.

Follow-up on unpaid claims

Virtually every medical billing company we reviewed will follow up all unpaid claims on your behalf. This service applies to payments from both your patients and their payers. An effective medical billing service will follow up on unpaid claims promptly and repeatedly until the account is settled. When handling patient statements and follow-ups, the best medical billers consider customer service and how their collection efforts could reflect on your practice.

Advantages of Medical Billing Services

As with any service, a firm knowledge of the advantages your practice will receive is key to your RCM choice. That’s because an in-house medical billing staff is often less expensive, but the benefits of outsourcing may be well worth the extra spend.

  • Greater efficiency: Especially if you’re a small practice, outsourced medical billing can be key to ensuring your team isn’t overworked. Small practices’ front-office teams are often jacks of many trades for whom the revenue cycle is tedious, lengthy and complex. Outsourcing the process (partially or entirely) alleviates this challenge.
  • Higher accuracy: Claim errors from carelessness are a huge revenue drain. When you outsource your billing to experts, especially those with rules-based engines, you mitigate this risk. These experts and their technology are a powerful combination for identifying potential claim errors and solving them before they become huge issues.
  • More collections: Outsourced medical billing teams focus entirely on billing. The result is more collections more quickly. Even the best in-house teams, given their many responsibilities, can rarely achieve the revenue peaks possible with outsourcing.
  • In-depth data and analytics: Many medical billing services will analyze your accounts receivable and use the trends they observe to suggest modifications to your processes. You should also be able to create reports at will in the included PMS. Through these reports, you can get a clear view into your finances and see how to adjust your operations for more revenue.
  • Practice management consultation: Especially for smaller practices, the consulting services that accompany RCM can precede growth. The operational advice you receive can result in more revenue, which you can invest in hiring more staff or expanding your services. And if you follow your consultant’s recommendations, you’ll be on a fast path to even more revenue soon enough.

Did you know?Did you know?: Using your billing service’s EMR system and PMS is a great way to find medical software for less than it costs to hire in-house medical staff and obtain separate EMR and PMS solutions.

Choosing a Medical Billing Service

As you compare potential medical billing services, take the following steps to determine the best candidate:

1. Get a full picture of the company’s features.

Claim scrubbing and follow-up are par for the course. You’ll also commonly find that RCM companies include reporting, consultation, and EMR and PMS access with your services. Check for these features as you speak with company representatives.

You should also determine whether the features that accompany your medical billing leave the company or your own team responsible for entering and coding charges. It’s worth asking if your billing service candidates are following the most recent ICD-10 coding system updates. You should also get a sense of the billing company’s experience with other practices in your specialty. Lastly, ask about the depth and extent of reporting and analytics solutions.

2. Compare prices.

RCM companies will generally take a monthly percentage of your collections instead of charging a flat fee. The percentage will vary based on the factors described above, and different billing services may quote you different percentages. Think about whether a company that charges you more would provide better services than your other candidates before making a decision.

As you compare prices, you should also check whether the RCM company includes EMR system and PMS access with its billing services. These inclusions may justify the company charging higher prices. That said, most medical billing services require you to use their PMS (and a few have the same rule about their EMR system). In some cases, migrating your data from your old platform to your new one may incur additional charges.

3. Determine how long setup and implementation will take.

Since you’ll be installing software (unless you are opting to work through your existing software provider for your billing), you’ll need to account for the implementation process in the timeline. Fully setting up the software side of your billing services often takes several weeks to three months. Sometimes, the setup process results in additional fees, though we found that many companies include implementation and training for free.

Did you know?FYI: Medical billing setup and implementation can take anywhere from several weeks to three months.

Check whether your medical billing provider includes free training with your implementation. If it does, chances are you’ll be paired with a dedicated account manager who will help you set it up. You may also get access to setup resources you can browse on your own time. 

4. Figure out your support options.

With medical billing services, support isn’t just about phone calls and emails; it’s about having a full, transparent window into your billers’ work at all times. Look for providers whose PMS platforms include a portal where you can see your claims’ real-time status and look over your third-party billers’ work.

On the traditional support side, you should check whether you can reach your provider by phone, email or live chat at all times or just during weekday business hours. The company’s representatives should be happy to assist you and easy to reach. 

Your billing service should also provide you with your payers’ electronic remittance advice and explanations of benefits. These documents are important for obtaining a transparent view into your payers’ operations.

TipTip: When dealing with something as sensitive as your practice’s finances, you should thoroughly vet any potential service partner to guarantee trust and transparency.

5. Consider patient engagement tools.

Medical billing is primarily a payer-facing need, but not entirely. Since most medical billing services require you to use their PMS, they may also manage the patient portal that most PMS platforms include. This means that your billing service can directly send patients their statements and follow up on unpaid charges. Should statements go unpaid long enough, your billing service could even oversee the process of sending patients to collections.

It’s important to find out whether the patient portal will cost your company extra or is included with your billing services. You should also find out how exactly your company of choice pursues unpaid bills and how long it waits to send these bills to collections.

Medical Billing Service FAQs

What exactly do medical billers do?

Medical billers convert your practice’s rendered services into standardized codes and add them to medical claims. They then submit these claims to insurance carriers or other payers so that your practice is properly reimbursed for its services. They typically do so within just a few days after services are provided, and they always lessen your front-office staff’s workload.

How can a medical billing service improve a medical practice?

Medical billing services remove the burden of managing billing from medical practices’ staff, offering charge entry, coding, claim scrubbing, denial management and more. They can also follow up on unpaid claims, contacting payers and patients who are late on their payments. In addition, they will stay on top of all electronic remittance advice (ERA) from payers to ensure claims are usually accepted on the first pass.

Most medical billing services provide access to their medical software as well. Medical software automates and streamlines many key functions in the front office, clinical environment and back office. The front-office tasks include registering patients, scheduling appointments, verifying insurance, and checking patients in and out. Clinical providers use medical software to fill out patient charts, order tests, prescribe medications and share patient histories with other providers. Finally, the back-office tasks include charge entry, medical coding and medical billing. Medical software works in tandem with RCM services to support all of these needs. [Related article: How to Fill Out and File an HCFA Form]

What is a good FPAR?

A good FPAR is one that exceeds 95%. Some of the best medical billing services we reviewed have FPARs of 96% to 99%.

How much do medical billing services cost?

Medical billing services typically cost 3% to 9% of a medical practice’s monthly collections. This percentage is usually determined by a combination of factors, mainly the practice’s size and specialty, the volume and value of its claims, and the complexity of the coding and billing required.

What are the steps of the medical billing process?

The steps of the medical billing process, which medical billing companies handle for your practice, are as follows.

  1. Determining financial responsibility.
  2. Creating superbills.
  3. Generating claims.
  4. Submitting claims.
  5. Tracking claim status.
  6. Creating patient statements.
  7. Following up on patient statements.
Max Freedman
Max Freedman
Business News Daily Contributing Writer
Max Freedman is a content writer who has written hundreds of articles about small business strategy and operations, with a focus on finance and HR topics. He's also published articles on payroll, small business funding, and content marketing. In addition to covering these business fundamentals, Max also writes about improving company culture, optimizing business social media pages, and choosing appropriate organizational structures for small businesses.
Image Credit: Lisa S. / Shutterstock
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