Best Medical Billing Service Review 2021
We’ve gathered information on the top-rated medical billing services, user reviews, buying tips, and made it easy to get the best price from companies in your area.
Review of The Top Outsourced Billing and Coding Service For Healthcare
Medical records are not something you can be cavalier about. To find out who you can trust, check out our latest medical billing service reviews.
Best Medical Billing Service Providers
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Advanced MD
If you have a large practice and you’re looking for a service – you can’t beat AdvancedMD. The comprehensive service is almost unmatched and you only pay one inclusive fee.
Is it a higher fee than other like services? Yes, but you don’t have to pay random add-ons. They also have a 95% claim approval rate, which saves everyone time and money.
Their software is new and constantly updating, so it’ll catch any potential mistakes before they go through to the insurance company. Finally, their hours are extended to 8 PM Eastern time – which benefits those in Pacific in Mountain.
That support team is all US-based too, so there’s no struggling through deep accents. If you can afford it, then pony up for this choice.
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Precision Medical Billing
When you’re in the medical industry, precision is a word you want to associate with your partners. That’s true with both PMB’s name and the way they operate their business.
Becker Hospital Review named them number one out of all the choices in the US. To get that spot, they had to have a host of things.
They exceed all the expectations but got especially high marks on reporting and ICD-10 support. HIPPA Compliance and claims processing weren’t too far behind.
The fees for PMB aren’t unreasonable, but they’re not the cheapest option. Another great choice for medium to large-sized clinics.
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Human Medical Billing
In a society full of automation and bots, we’re happy to rank this company as our number three.
It’s called Human Medical Billing for two reasons – one, they bill about humans, but two (and more importantly) – their team treats you like one.
Size-wise, they’re a smaller company and they provide flexible options for all sizes of clinics. They even offer a cancellation policy if you’re not happy with the results.
Their pricing is on the more affordable side and it’s flexible too. If you want someone that will learn about your needs and work with you – Human Medical Billing is where it’s at.
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CRT Medical Systems
Another mid-sized company, this one’s been around since the 1980s. They seem to be adjusting well to technology changes over time – as they’re still in play 30 years later.
People appreciate their commitment to service and their hard-working update software.
This shared billing system is employed by hundreds of clinics all around the country. And, for good reason.
It’s one of the more affordable systems on our list. They’re located in Nova, Michigan if that matters to you and they have a range of business memberships.
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EZ Claim
This medical billing service focuses on ease of use – as you can tell from their name. After about 20 years of business, they’ve grown to have industry-topping customer service.
Their goals are to reduce the frustration of their clients and minimize small, silly mistakes.
Their products and pricing schedule is unique, you can build the service you need and personalize it. You pay for what you want – not a pre-packaged deal.
Their website boasts that they’re still working with their first client they ever got – over 20 years later. Impressive retention.
If you need a service that will help you simplify billing, check EZ Claim out.
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NueMD
This company is unique in that they provide services for both parties: doctors and patients. They work with Universities to establish seamless student health plans, along with doctors’ offices.
They’ve been working with student health centers for over twenty years, too – so they understand the needs of a large, young population of patients.
If you have a large clinic or work with young people, then they may be the best choice for you.
They certainly have enough evidence to prove they’re worthy of your trust – they’ve published case studies on their efficiency.
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Medusind
This company has been on the billing scene since 2002 and hasn’t stopped growing. They now have nine different office locations, though they can service anyone in the country.
Anyone, including more than 9,000 providers that trust them with their paperwork.
Medusind will always have someone to help you since they have over 2000 employees. They’re HIPPA compliant and have an ISO 27001 Certification.
They have their own software that they developed and are the sole proprietor of.
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Kareo
When it comes to integrated and inclusive software, Kareo has everything from practice management to billing.
That’s what their clients like, though it’ll cost you a pretty penny. Clinics that use Kareo can avoid using different programs.
They’re built for individual clinics, not for large health systems like hospitals. That means you can skip some of the redundancies state-run institutions have to go through.
If you’re looking for something efficient and all-inclusive, Kareo is the provider for you.
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Medical Billing Star
If you’re looking for another personalized billing and coding solution that isn’t overrun with clients – check out Medical Billing Star.
They work with more than 300 providers – but under a thousand. Those smaller numbers allow them to service more medical specialties. They currently serve over 150 different types of clinics.
They offer a unique 24/7 customer support line, which has different specialist teams. You’ll always get an answer with Medical Billing Star.
They’re ICD-10 Certified, as well as HIPAA compliant. They check all the boxes and small or medium-sized clinic needs.
You can get a billing consultation for free on their website if it seems like a good fit.
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MTBC Healthcare
Finally, we have MTBC. They advertise themselves as not just a billing and coding company, but also an IT services provider.
They’re another service that can be all-inclusive if you’d like. They provide day to day management solutions along with billing and coding.
Currently, they’re operating in more than 40 states and they’re committed to expanding that. They’re constantly updating and redeveloping technology to keep up with industry trends.
They have 11 worldwide offices and serve over 70 medical specialties. Is your clinic one of them?
Outsourced Medical Billing Service(s)
Knowing what you need from a medical billing service provider goes farther than just liking the sound of the company. You need to make sure they can manage the caseload and case type that your clinic produces on a daily basis.
To do that, they need to offer at least medical processing and coding.
That means knowing what each interaction between a doctor and patient means when it comes to insurance cost.
Once they’ve identified the specific service, they have to find out or research what the specific insurance company codes it as. The code refers to a certain pricing schedule – which tells the professional and the patient how much they need to pay.
Once the patient has paid their co-pay and any additional fees, then the professional sends the information to the insurance company.
The insurance company makes sure the doctors and the clinic get paid. If there are any fees that weren’t assessed at the beginning of the visit – the professional will bill the patient for them.
What happens once the insurance companies pay the clinic and the results all come back.
What is Medical Payment Posting?
Part of a Medical Billing Services job is payment posting to the patient’s account.
That means they assess what the insurance will cover, what the patient already paid, then bill them for what’s left.
It’s important to have a very detail-oriented medical payment posting provider or system. Just one typo could mean the difference between paying a bill for a family and total financial loss.
What to Look for In Choosing A Medical Billing Service Provider
Now that you know a little more about the process, how do you know which provider is the right choice for you?
Well, step one is to figure out your budget. What can you afford to spend on a billing/coding service per month?
Is it more or less than you could pay someone in-house? Most of the time outsourcing makes more sense, but you should check and make sure.
After you have your budget, ask yourself the following questions about each provider.
- What is your pricing?
Ask them what their price package includes and if there are any extra fees you should expect. If so, how common are those extra fees? How can you avoid them?
How did they approach the subject of fees? If they were honest and open about them, then proceed. But if they seemed like they wanted to sweep them under the rug, beware!
- What are the terms of your contract?
Most of the time you’ll have to sign a contract to work with a billing services company. That means you’re roped in for however long of a time the contract states.
What’s their policy on breaking the contract if you’re unhappy with their services? Are there fees for that? How do they process cancellations?
Also, throw in a question about their retention rate. How often do their clients stick around?
- What’s your first pass rate?
Another thing you need to know is their first pass rate or the number of mistakes they make. How often does a clinic or an insurance company send something back because it was incorrect?
The more mistakes they make, the less efficient their process is. You only want to pay them to process something once – not to have to go back and keep making edits.
- What kind of support do you offer?
We touched on the customer service capabilities of some of the companies on this list, but not all. Ask them about their customer service hours and average waiting time.
You want someone that has customer support when you need it – so pay attention to time zones. Five pm eastern is only 2 pm, Pacific.
If the customer service agent you’re working with gives you in-depth answers to all these questions and you’re pleased – then you’re good to go.
What Fees Do Medical Billing Companies Charge?
If you’ve gone through everything above, you should at least have an understanding of what a provider covers you for with their base fee.
But, there may be extra fees involved. Most medical billing service plans go by how many claims you need to be billed per year.
So, if you go over the number of claims you bought, that’d be an extra fee.
You can expect to pay anywhere from $200 – $1000 a month based on the number of claims you need to be processed. Providers who offer other services or are all-inclusive with management software will cost more.
Below is a List of Last Years Top Ranked Medical Billing Providers
Understanding the Code
Things like prices, services, and company values are all important to consider when choosing a medical billing service company. We hope this guide helped you find the right provider for you.
If you’re still struggling to find the right fit, make sure you use our “compare rates” feature. It’ll walk you through things you may not have considered.
Sources:
https://www.bplans.com/family_medicine_clinic_business_plan/financial_plan_fc.php
https://realbusiness.co.uk/ten-ways-to-break-a-contract/
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