Medical Billing Software

How Much Is Medical Billing Software?

Technology has revolutionized every aspect of the healthcare industry, and billing is no different. The days of sending out paper invoices and collecting payments only in-clinic are all but over, and clinics of all sizes are embracing medical billing software to help streamline their operations and minimize their accounts receivable. But despite the widespread growth in popularity, many clinics are still hesitant to adopt medical billing software due to fears regarding complexity, maintenance, and, in many cases, costs. But billing software is surprisingly affordable, especially in cases where it can be combined with ERP or CRM tools that an office is already using. So just what does medical billing software cost? The answer is largely dependent on how much a clinic wants or needs it to do.В 

 

Billing-Only Tools

The number of tools designed purely to handle billing alone is certainly shrinking as most tools move to increase the number of available features and integrate other areas of practice management, but there are still billing-only tools available on the market.

CollaborateMD:

The web-based CollaborateMD is one of the most popular billing-only platforms, offering a robust set of billing features including integrated payment processing, built-in analytics and reporting, payment schedule, a payment portal, platform branding, and more. The relatively low cost of billing-only solutions like CollaborateMD can make them seem like a steal, but it’s important to remember that their lack of functionality means they’ll most likely need to be paired with clinic management software, driving up the price of complete service.В 

CollaborateMD Pricing: $179 to $389 per month per provider, depending on the level of service chosen.В В 

 

Integrated Billing Tools

Integrated billing tools combine medical billing software with a wider set of practice management features, helping clinics to reduce costs by getting more mileage out of a single piece of software. These platforms vary widely in cost based on the number of features and the different areas of clinic management they include, so it’s important that clinics analyze their needs carefully before selecting which piece of software to go with.В 

Kareo:

Kareo Billing is an online billing tool that offers clinics the ability to completely digitize their billing and payments while also offering some limited patient management tools as well. It includes a centralized accounts receivable system, billing analytics, and reporting dashboard, accurate charge capture capabilities, and more. Its pricing structure makes it an attractive choice for solo practices, with the cost becoming less competitive as the number of doctors grows.В 

Kareo Pricing: Solo Practice: $300 per month, Mid-Size Practice: $3000 per month, Large Practice: $7,500 per month

MedicalCRM:

MedicalCRM is a full-featured customer resource management tool designed for the healthcare industry that combines all of the features clinics need to provide an elevated patient experience, operate more efficiently, and streamline billing and payments. The MedicalCRM billing suite offers clinics the ability to quickly and easily generate digital invoices, set up recurring billing schedules, collect payments via credit card and e-check, and much more. Its built-in productivity tools include a complete patient management suite, full integration of all telephone, email, and SMS communications, advanced scheduling, task management, built-in HIPAA compliant chat, a patient portal, and much more.В 

MedicalCRM Pricing: Single Practice: $800 per month, Medical Group: $2400 per month, Enterprise Group: Custom

For more information on the full suite of tools offered by MedicalCRM, schedule a free demonstration or start a free trial of the full platform today.В 

 


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