Recently, plenty of medical billing companies have emerged in the market, and we could see mere competition between each of them. But how to identify the best medical billing company and know whether it is worth outsourcing your medical billing process to them. And hence, we are here to showcase the top 5 medical billing companies’ category-wise, specialty-wise, and popularity-wise for the benefit of healthcare service providers.
#1: Advanced MD
Right from small to large practices, Advanced MD provides the latest solution for your medical billing process, enabling an affordable and scalable service, overall.
Let us look at the pros and cons of choosing this company as your medical billing partner.
- Checking claims for coding errors
- 95% success rate of claims submission
- Flexible for all sizes of practices
- Helps with denied claims
- 10 to 20% of staffs are certified billers and coders
- No code claims applicable
- Additional fees for after-hours emergency support
- No mobile app optimization for Android services
- Limited support time
- Mobile application for iOS
- Unlimited users
- Appointment and billing scheduling software
- Claims management
- Automatic data backup
- Patient portal
#2: 24/7 Medical Billing Services
It is best suited for all sizes of practices and highly beneficial to small practices and independent practitioners. The company offers a wide range of services at affordable pricing and scalable solutions that help your practice grow extensively high.
Here are the pros and cons you should know about the company.
- Customized EHR software
- Frequent AR and coding audits
- 99% claims clearing rate
- 10 to 20% cut on operational costs
- Up to 30% increase in revenue generation
- Up to 60% staffs are certified billers and coders
- Round-the clock support
- Medical billing services for multispecialty
- Anytime support for only few specialties
- Medical billing services
- Medical coding services
- Credentialing services
- A/R follow-up
Kareo offers huge time for physicians to spend with patients, exceptional billing software, managed services, and integrated healthcare IT systems, all in a single unified solution.
- Best practice management software
- Training from successful coders and billers
- No contracts sign up
- Offers managed billing as an individual service
- Claims follow-up is excluded on basic billing software
- Scheduling system with physician and patient reminders
- Claims processing and tracking tools
- Print and email statements
- Higher than 70 standard reports
Chartlogic offers certified coders supporting the needs of small healthcare practices along with all services at one step.
- Highly certified coders
- Platform agnostic
- Integrated solutions
- The company follows EMR system that works best only with billing
- Pricing is not based on categories/tiring
- Reviews, edits, and codes your claims
- Monitors claim status information
- Offers customizable reports
- Sends claims through a claims scrubber
- Provides claims status information
Athenahealth best supports the healthcare IT suite for hospital systems that wish to outsource some of their billing processes to third-party providers.
- Collaborates flexibly with in-house billing
- Consists claim management
- Robust features of reporting for enterprises
- Lower success rate for first-pass resolution rate
- Additional fees applicable for denied claims
- May not go well for solo practitioners
- Appointment scheduling
- Integrated insurance eligibility checking
- Real-time performance reports
- Managing claims using the latest rules engine
- Check-in process to patients for collecting payments upfront
- Dashboard that contains RCM and patient data
Now you know the advantages and disadvantages of top medical billing companies, it becomes easy for you to choose the best one. From the list we see, 24/7 Medical Billing Services stands unique from other companies with its splendid features. If you require help in contacting the company, you can call them at +1-888-502-0537 and fix an appointment for a free medical billing consultation.