What’s the Damage, Doc? The Best Medical Billing Software for a New Practice

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If you are opening a new medical practice, it’s essential that you keep your data organized. One of the more important areas will be medical billing.

The right medical billing systems will allow your practice to keep your accounts up-to-date.

But with so many types of medical billing software available, it can be hard to know which option will best suit the needs of your practice.

In this handy guide, we’ll talk you through the best medical billing software for your new practice.

What Is Medical Billing Software?

Medical billing software plays an essential role in the management of medical organizations of all different types. The software allows practices to create, manage, and follow up on invoices.

The invoices could cover everything from patient check-ups, treatments, and ongoing healthcare coverage.

Your medical billing systems can improve the accuracy and efficiency of patient billing. Some systems may also provide financial management and analysis functionality, too.

When selecting medical billing solutions, you will need to find software that integrates with your patient management system. This system holds all of your patient’s information. Patient management software also contains accounting software.

An electronic system such as this will also be useful for sending invoices to insurance companies.

To count as medical billing software, a program must be able to:

  • Produce forms and templates for various types of invoices
  • Generate invoices for different types of medication, treatment, or assessment
  • Automatically send electronic bills to patients, other healthcare organizations, and insurers
  • Handle every aspect of the claim from the start until payment
  • Review, connect, and audit previous invoices and orders
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Is Medical Billing Software HIPAA Compliant?

A major concern for your practice should be if you’re in compliance with the Health Insurance Portability and Accountability Act (HIPAA) regulations.

Your medical billing software should meet all of these requirements.

Choosing the Right Medical Billing Software for Your Practice

When choosing the right billing system for your medical practice, think about what you’ll specifically need.

For example, you may need to link up with specific medical software that you have in place. Look at connectivity as well as the other features of the software.

CareCloud Central

CareCloud is a cloud-based software that keeps all of your data safely secured.

Features and benefits include:

  • No need to backup files of servers
  • Central cloud storage makes it easy to find your data
  • User-friendly software that is easy to navigate
  • Allows multiple tabs to be open to view a range of data
  • The software automatically checks for errors on the records that you submit

CareCloud has a very clean design that is easy to read.

Kareo

Kareo is an easy-to-use billing system that works seamlessly alongside complex practice management software.

Some features and benefits of Kareo include:

  • Easy to follow up on delinquent accounts allowing you to chase up on overdue bills without manual intervention
  • Suitable for use across a wide range of different types of medical practices
  • Web-based software means that you don’t have manually manage the software as the software developers will keep your software up-to-date
  • Customize reports to meet your specific needs

Kareo allows smooth paperless billing meaning you will get reimbursed sooner.

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AdvancedMD

AdvancedMD provides a range of useful billing services in one, easy-to-use piece of software.

The features and benefits include:

  • Using the AdvancedMD reports, you can easily see how your practice is running
  • Compare reports with historic data
  • Manage your client database with ease and check the insurance status of all clients before an appointment or treatment
  • The single dashboard lets you manage all of your operations
  • AdvancedMD helpdesk is available to support you at any time

This software is perfect for all types and sizes of medical practices.

PracticeSuite

If you have a large medical practice that serves a lot of different patients, you’ll need the right software to handle it.

PracticeSuite is a medical office platform that can be used as a platform for billing or as an integrated enterprise-wide service covering a range of solutions for your practice.

The features and benefits of this software include:

  • PracticeSuite can be used for over 150 different types of billing and can handle 61 specialties
  • Provide billing for a high volume of patients and clients
  • Communicate with your patients and clients in an efficient and effective manner
  • The basic license is free
  • The premium services start at $99 making it a cost-effective solution that can be upgraded based on your needs

PracticeSuite is a flexible system that can be adapted to your needs.

iSalus Healthcare

Because iSalus is a healthcare company, they understand the needs of other healthcare organizations.

Here are some main benefits of iSalus software:

  • The software is easy to use since it was designed and made by a company that understands the needs of healthcare companies
  • With several versions of the software to choose from, it’s possible to find the right software for the needs of your specific practice
  • Make appointments with ease using the easy scheduling tools that come with this medical billing software
  • A completely customizable product that can grow with your practice
  • The user-friendly platform comes with in-built tools for training
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With options to suit specific types of medical practice, you will be able to find the right option to suit your specific practice’s needs.

Do Your Research First

Before you sign-up for your medical billing software, be sure to do some research. Find reviews and testimonials from other users and try to get a demonstration.

It may be possible to try the software before you commit to purchasing licenses. Contact the rep from the software company to find out more information.

For more interesting and informative articles, be sure to explore the rest of the site.

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