Advancements in software play a huge role in the growth of businesses in any industry, and the medical field is no exception. According to GlobeNewswire, 80% of US medical bills contain errors. As billing is an unavoidable tedious task for your medical practice or your virtual billing assistant, it’s no surprise that developers of medical billing software continue to improve with every update.
Considering the continuous nature of software development, 2023 is also bound to see some significant strides in medical billing software. But first things first:
What features make a reliable medical billing software?
Ideally, the medical billing system of your practice should have the following as a minimum:
The advantage of electronically processing claims is minimizing errors while maximizing your time – for the most part, that is. Resubmitting claims can still take a significant amount of time. However, a system that validates your claims and claim codes before submission can notify you of errors that need rectifying, expediting the entire process.
Most patients aren’t aware when they have recently lost insurance, meaning they can come to your practice not knowing they have to pay out of pocket. This scenario can be an inconvenience to them and your practice; it’s crucial to have an eligibility verification so you can confirm their insurance coverage before their appointment and notify them when necessary.
When monitoring the productivity and growth of your practice, your medical billing software needs to be able to run reports and analytics on various information, including the profits and losses from seen and missed patient appointments. An accurate account and data reading help you better identify the best steps to move your practice forward.
Considering the guidelines indicated by HIPAA law, your medical billing software needs to be very secure because it contains sensitive patient information. You don’t want to risk making these data compromised by breaches like malware, hacking, and ransomware.
These are only some of the features that you would want to have in your system, which also leads us to our main topic;
What medical billing software should be on your radar?
In no chronological order, these are some of the systems worth your consideration based on our research;
A staple for most medical practices since 2013, Optum is one of the many EHR developers enabling you to utilize the billing features we mentioned above and a whole lot more. What sets this software apart from its competition is that it offers OptumRx, a pharmacy care service that helps physicians make better prescriptions than other methods. As of writing, Practices in more than 150 countries utilize Optum.
Coming in with more than 20 years of industry experience, NueMD helps small to medium-sized healthcare facilities by offering a more customizable EHR system to precisely fit specific needs, including billing for nearly 100 medical specialties. One unique feature is a portal where patients can view their records, update insurance details, schedule appointments, and more.
Recognized by Capterra as its top-performing software for 2022, NextGen Office is among the medical billing software worth considering for your practice in 2023. It includes various helpful features, including insurance eligibility verification, invoice history, and claims scrubbing. NextGen Office is also cloud-based, reducing the need for physical servers that can take up valuable space in your practice.
If you’ve been running your medical practice for quite some time, you’ve probably already heard about SimplePractice. As the name suggests, this software aims to simplify many aspects of medical practices, including the billing process. SimplePractice allows you to streamline various tasks, from comprehensive practice management to tedious compliance tracking.
athenaOne integrates EHR, patient engagement, and revenue cycle management to increase the efficiency of medical practices and optimize their performance. It also offers features that streamline the billing process, such as claim scrubbing and management, insurance eligibility verification, and dunning management.
What medical billing software do our virtual billing assistants prefer?
Because My Mountain Mover has many virtual assistants with years of experience as medical billers, it’s only fitting that we ask them the following:
What medical billing software do they use? What is their experience using this software? Would they recommend this software or not? Do they have any tips and tricks to help medical practices maximize it?
These are the medical billing software that they prefer:
As a comprehensive EHR and practice management software, eClinicalWorks allows its users to handle billing-related tasks efficiently. Gretell, an MMM medical virtual assistant, says that using the software has a simple and easy interface with customizable features.
Pro tip: Compile your frequently used tabs and features under the “Favorites” menu so you can access them easily. You can also utilize the “Patient Encounters” section to send messages to the providers that are still HIPAA-compliant.
One of the few EHR software providers that offer a platform for both iPhone and iPad, DrChrono is part of the billing software recommendations from our virtual medical assistants. Luigi, one of our experienced medical billers, says that DrChrono has loads of features and manages to store vast amounts of data while remaining fast and reliable.
Pro tip: Maximize DrChrono’s support team by asking them to help you customize your software based on your needed features. You can create tickets or send feedback and expect a quick turnaround time for their response.
More catered towards specialized practices, nAble IVF features cycle management, built-in advanced treatment plans, and ovarian stimulation protocols on top of its billing management capabilities. Zoe from our team of virtual medical billers says it’s the best software in her experience. It is very user-friendly and has made their everyday work so much easier.
Pro tip: Don’t be afraid to navigate through nAble IVF. You’ll be surprised by how you can quickly get through your day just as long as you understand its basics.
Here at My Mountain Mover, we have a pool of virtual medical assistants who can utilize different medical billing software. The software we mentioned is only part of the many tools they maximize in bringing hundreds of medical practices to the next level!
Do you need help in achieving more productivity without the additional overhead cost? Leverage the talent and expertise of an MMM medical virtual assistant! contact our team today to learn more.