Medical billing is a very hectic process for most healthcare practices. However, with medical billing software, they can automate the medical billing process while ultimately improving their revenue collections and claims denial rates. Getting medical billing software should be the priority for healthcare practice, and it will be good to have medical billing software with both billing and invoicing features. In this guide, we will reveal 4 of the best medical billing software with billing and invoicing features that you can buy in 2023 to improve the financial health of your practice. So let’s start:
What is Medical Billing Process?
The medical billing process is about receiving reimbursement for the healthcare services provided to a patient by submitting insurance claims to the insurers and following up on those claims. The medical billing method is quite hectic and includes several processes, such as patient registration, insurance coverage verification, charge capture, coding, claim submission, and claim follow-up.
What is Medical Billing Invoice?
A medical billing invoice is a document that includes all the information about the healthcare services provided to a patient by a healthcare provider. The billing invoice outlines the details of the services provided and charges for those services. Moreover, the invoice is sent to the payer for reimbursement, either the patient or an insurance company.
What are The Benefits of Using Medical Billing Software?
1- Reduced Paperwork for Reduced Errors:
If you are a professional medical biller, you know how tiring it is to examine forms and documents physically. Medical billing software can help you minimize the paperwork, reducing the chances of errors occurring. Moreover, it’s difficult to safely store all the paper documents, but when you have medical billing software, everything is stored in it, so you don’t have to worry about the documents.
2- Easy Access to Patient Information:
In healthcare, having access to the correct patient information is still a challenge, but with medical billing software, medical billers and providers can easily cope with this challenge as it gives them the power to access the information of any patient securely without even having to move. This makes access to information easy and secure and fast for faster payment processing.
3- Improved Claim Tracking:
To get reimbursements on time, submitting accurate claims and tracking them during the entire process is essential. Medical billing software makes it easy to verify patients’ coverage and track the submitted claims. If an insurance claim gets denied for a reason, medical billing software will notify you and provide you with all the information about that denial.
4- Increased Patient Satisfaction:
If there is one thing that medical practices want, it is patient satisfaction. By installing medical billing software with billing and invoicing, procedures can ensure patient access to care fast and efficiently. When the verification and claim processing is done quickly through medical billing software, patients will get treatment minimally, resulting in an improved patient experience.
Our Top 4 Picks for the Best Medical Billing Software with Billing & Invoicing
1- TheraNest Medical Billing Software
Our first pick for the best medical billing software with billing and invoicing is TheraNest. We picked it for the top spot because it’s the medical billing software that offers you advanced billing features such as automatic EOB/ERA file processing, a client ledger for tracking client credits and balances, and batch claim submissions.
In addition, the billing software enables you to create invoices and superbills, and you can print and email them. You can even begin, download, and print CMS-1500 forms with it. Moreover, with TheraNest, practices can charge multiple credit cards simultaneously and securely.
2- Jane Medical Billing App
At number 2, we have Jane, which is not just a medical billing software but also an app that aims to simplify small practices’ medical billing and invoicing needs. The incredible thing about Jane is that it offers you a 4-in-1 solution. With Jane, providers can take online bookings, schedule appointments, perform billing and accept payments, and perform electronic charting.
With just a few clicks, you can do anything with Jane, whether you want to issue invoices, collect online payments, track insurance billing, or send bills to the insurer.
3- NextGen Office Billing Management Solution
At number 3, we are picking NextGen Office, a complete medical billing solution with all the tools and features that a healthcare practice needs to make its billing efficient. The cloud-based medical billing system enables you to efficiently perform all your billings anywhere while bringing productivity to your work.
With NextGen Office, you can create bills and invoices and process payments effectively. In addition, the software also has flexible reporting tools to generate automated reports within seconds to reduce paperwork while also reducing errors.
4- My Clients Plus
Our last pick for the best medical billing software is My Clients Plus. If you are a mental health provider searching for medical billing software, we recommend getting My Clients Plus.
My Clients Plus is such a comprehensive healthcare billing system that you can do electronic billing and send the bill to both primary and secondary insurers. Moreover, you can track insurance payments, accept credit card payments, and generate invoices and superbills.
Other features of My Clients Plus include point-and-click scheduling and secure messaging for streamlined operations. There is also a client portal system that ensures that everything is on track.
