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Medical accounting software makes routine billing and payment operations simple. This software is considered essential by most hospitals and medical offices. However, not all accounting software measures up. When it counts, you need accounting software that is trustworthy and reliable. The best software is also adaptable, scalable, and ready to perform the full spectrum of tasks. Here are our picks for the best medical account software on the market.
Upfront Conclusion
The best medical accounting software right now is Oracle NetSuite and Kareo.
15 Best Medical Accounting Software
- Oracle NetSuite – Best Overall Financial Management
- Kareo – Our Top Choice Overall
- DrChrono – Best for Specialty Care Providers
- AdvancedMD – Best for Enterprise Scale
- Sage Intacct – Endorsed by Accounting Professionals
- NextGen – Best Electronic Recordkeeping
- ChartLogic – Best for Private Practice
- athenaOne – Award-winning Medical Accounting Software
- RXNT – New and Innovative
- Med Evolve – Best for Specialty Practitioners
- Euclid – Best for Hospitals
- TheraNest – An Ideal Solution for Behavioral Health
- Unified Practice – Best Budget Option
- Lightning MD – Top Quality Claims Scrubbing
- Simple Practice – Another Favorite
1. Oracle NetSuite – Best Overall Financial Management
PRICING: Varies, please enquire.
Oracle’s NetSuite focuses on one thing – doing billing right. The software is designed to streamline financial transactions. NetSuite handles billing, processing, and payments. The software can also be used for budgeting, financial projections, and generating financial reports. Unlike most companies on our list, Oracle isn’t only for medical professionals. The software is used across many different industries. However, NetSuite is trusted by many companies and financial leaders.
KEY FEATURES:
- Research and forecasting tools for accurate financial projections
- Cloud-based ERP services
- Automated billing
- Instant credit card processing and cash collection.
REASONS TO BUY:
- NetSuite is considered best-in-class for financial management.
- Oracle provides thousands of add-ons that can be paired with NetSuite. This software provides services like payroll and HR.
REASONS TO AVOID:
- NetSuite only focuses on financial matters. It doesn’t offer a suite of patient-care, records, or telemedicine services like those some competitors provide.
2. Kareo – Our Top Choice Overall
PRICING: From $87/month.
We love Kareo because of its responsive SAAS suite. Kareo is focused on delivering maximum performance. The company works exclusively with medical care providers. This means all software is tailored toward the needs of the healthcare industry. You won’t run into generic programs that don’t fit with your goals here. Kareo offers a la carte software so you only pay for what you want. Choose products your business needs and skip paying for those you won’t use.
KEY FEATURES:
- Simple, streamlined billing and patient self-payment tools
- Telemedicine services and specialized billing
- Customer engagement software to increase patient retention.
- Kareo cloud and app for easy access anywhere
REASONS TO BUY:
- Kareo is an award-winning company. It has been recognized by Medical Economics Magazine, Glassdoor, and Frost Sullivan, to name a few.
- Kareo software serves many different specialities. Unique billing, accounting, and records strategies can be implemented based on your clientele.
- The software is well-maintained with regular updates and improvements. Issues are addressed promptly.
REASONS TO AVOID:
- Kareo is designed primarily for independent medical care providers. The software might not serve the needs of corporate or university-based healthcare companies.
- Updates can be disruptive and time-consuming.
3. DrChrono – Best for Specialty Care Providers
PRICING: From $200/month.
DrChrono ranks high because the company serves medical companies of all sizes. Solutions can be customized for small, mid-sized, or large, multi-campus providers. The software is designed to meet the needs of specialists. DrChrono allows your billing team to customize the tools so they fit your company’s unique needs. The service is also inexpensive so fits perfectly with a new or small-scale practice.
KEY FEATURES:
- The patient portal allows patients to schedule appointments, follow up, and check their medical records.
- DrChrono software generates billing statements within seconds so customers can be issued a bill before leaving the office.
- The software automatically generates HIPPA-compliant insurance claims so your team spends less time on the phone with insurance companies.
REASONS TO BUY:
- The user interface is intuitive and easy for staff to learn.
- DrChronos provides many services to help medical companies run smoothly. Along with medical billing, there is a suite of software for patient relations, promotions, and record keeping.
REASONS TO AVOID:
- Some clients have had issues with DrChrono outsourcing billing services. Reports have been filed complaining that the software company subcontracts with less qualified providers.
- Complaints have been filed regarding billing issues and lack of customer support.
4. AdvancedMD – Best for Enterprise Scale
PRICING: 4-6% of collection balance.
Small practices may be able to manage with any billing software, but your practice needs something more. AdvancedMD is built for large-scale healthcare providers. The software works for healthcare companies with multiple locations. When you’re managing thousands of patients, you need a scalable solution and AdvancedMD delivers.
KEY FEATURES:
- Automated claim-scrubbing to reduce human error
- First-pass rate in the high 90s
- Follow-up on any outstanding balances or unpaid claims
- Qualified staff with proven experience in the field
- Full suite of medical office, management tools, and reputation management software
REASONS TO BUY:
- AdvancedMD is built to cope with high volume. Your software can handle hundreds or thousands of records at a time.
- The software boasts an impressive 98% first-pass rate. You’ll see fewer denied claims. The experienced team follows up with unpaid bills or rejected claims.
- Intuitive software and an easy-to-use dashboard.
REASONS TO AVOID:
- AdvancedMD is designed specifically for larger healthcare institutions. It may not meet the needs of small businesses or independent providers.
- Coding is not provided. Your company may need another software option or handle medical coding in-house.
5. Sage Intacct – Endorsed by accounting professionals
PRICING: From $15,000 annually
Sage Intacct comes highly recommended by professional accounting firms. This software is trusted by many big names in the healthcare field. Clients include the University of Tennessee College of Medicine, Regenesis, Accurate Neuromonitoring, and the CDC. Sage delivers adaptable software to meet the needs of growing practices. The software is powerful enough to serve multi-location organizations.
KEY FEATURES:
- HIPPA and HITECH compliant financial software
- Open API accessible in the cloud
- Real-time accounting for accounts payable, accounts receivable, purchasing, and more.
REASONS TO BUY:
- Sage Intacct allows you to measure key performance indicators by location, physician, and medical treatment. You can easily locate your top performers or areas that need extra attention. You can also monitor many different metrics, such as treatment costs, per-patient expenses, or earnings by location.
- The company strives to save you money. Some clients have reported significant savings since purchasing the software.
- Very high reviews
REASONS TO AVOID:
- The software is only accessible in the cloud. You cannot download the software onto your device, only log in to the online platform. If your business suffers from poor internet service, Sage Intacct will not work for you.
- The software is designed with many complex features and abilities. It may be more than what a smaller practice needs.
- Intacct software is priced beyond the means of most small healthcare businesses.
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6. NextGen – Best Electronic Recordkeeping
PRICING: From $299/provider
NextGen provides adaptable solutions geared for the medical enterprise. The company is known for their innovative smartphone services. Providers can easily keep notes and communicate with patients, all from their smartphones. NextGen works with many medical specialities. These include cardiology, OB/GYN, Urgent Care, Pediatrics, and Orthopedics.
KEY FEATURES:
- The software optimizes workflow and creates opportunities to assist more patients. Practices can spend less time scheduling or billing. This gives more time to spend consulting and helping patients in need.
- Tailored options are available based on your speciality. Behavioral medicine, ophthalmology, and dental providers are also served by the software.
REASONS TO BUY:
- NextGen comes highly recommended by notable clients including Planned Parenthood and Preferred Family Care. Large medical clinics and speciality services use the software.
- NextGen is considered one of the most flexible EHRs available. It can easily be adapted and scaled to meet your needs.
- Although smartphone service is what most clients love, NextGen also works on other devices including PCs, laptops, and tablets.
REASONS TO AVOID:
- NextGen can be complicated. Getting started with the software may take some time. Businesses with dedicated IT professionals should have no issues. However, some practices may find it exceeds their needs.
- The software is intended for paperless billing and record-keeping. Those who use paper files may need an alternative option.
7. ChartLogic – Best for Private Practice
PRICING: From $350/month.
ChartLogic is a full EHR designed specifically for small practices. Private practices and individual providers will find ChartLogic meets their needs. A nice benefit of the software is it quickly alerts providers and support staff to potential errors. These include claims errors as well as prescription or patient data mistakes. Overall, ChartLogic can improve the efficiency of your team and reduce time-consuming mistakes.
KEY FEATURES:
- Claims Management and claims scrubbing software to make insurance filing simple.
- A drug reference database and prescription software for easy testing, prescription, and refill management.
REASONS TO BUY:
- ChartLogic meets and exceeds the needs of small-scale practices and individual providers without additional unnecessary or complicated features.
- ChartLogic is an ideal choice for providers and physicians making frequent prescriptions. The suite of software includes various checks and references to enable quick and easy prescriptions and refills. The medication alerts inform prescribers of potential interactions The voice recognition software allows dictated prescriptions and patient notes.
REASONS TO AVOID:
- Some clients have faced difficulty accepting online bill payments from medical clients.
- Some reviewers say they couldn’t get in touch with support staff or that the company’s customer service is poor.
- ChartLogic is designed for smaller, independent physicians and medical businesses. Larger practices and hospitals will need additional features or a more scalable option.
8.athenaOne – Award-winning Medical Accounting Software
PRICING: From $150/provider per month.
Industry leaders love athenaOne software because it enables smooth financial management. The software provides simple and accurate quotes so patients can predict costs and co-pays ahead of time. This feature allows patients to make informed decisions instead of putting off tests or procedures. The company has one of the highest first-pass rates in the industry, bringing your business the chance to get paid faster with less effort.
KEY FEATURES:
- Outstanding claims scrubbing, claims management, and insurance verification. athenaOne helps your company swiftly deal with denials and get paid faster.
- athenaOne is the recipient of a Stevie award for the best integrated mobile experience and is a Capterra shortlisted Notable Product.
REASONS TO BUY:
- athenaOne is known for having a stellar first-pass rate of 94%. This means more insurance claims are paid the first time around and you don’t need to refile or bill patients.
- Reviews say athenaOne allows incoming messages to be sorted based on provider or healthcare team. Physicians will receive calls, messages, and faxes from pharmacies, specialists, and patients quicker.
REASONS TO AVOID:
- Some users say athenaOne is not as intuitive as they would like. It may take time for staff to learn and understand how to work with the software.
9. RXNT – New and Innovative
PRICING: Subscriptions start at $65/month.
RXNT delivers innovation and flexibility to the industry. The software is adaptable for various industries including those that are not always covered by medical software, like hospice and palliative care. RXNT has excellent reviews and meets the needs of mid-sized medical care businesses.
KEY FEATURES:
- RXNT provides scheduling and automatic reminders, to help patients show up to appointments. The patient portal offers a lot of useful tools including intake forms, record access, and insurance verification.
- That
REASONS TO BUY:
- RXNT is fully customizable with options for at-home and long-distance communication. Users find it adaptable and innovative.
- Prescriptions are very easy to write and control. Some reviewers say they completed prescriptions and filed in just seconds.
- This is one of the least expensive services on the list.
REASONS TO AVOID:
- The menu features many drop-downs and may be difficult to scroll through. Some users find it difficult to enter patient records or other data.
- Like some competitors, RXNT is designed for medical establishments with dedicated IT staff or experienced accounting professionals. The software may be difficult to understand and set up.
10. Med Evolve – Best for Specialty Practitioners
PRICING: Please contact Med Evolve for a price quote.
Med Evolve delivers the billing software speciality providers need. The system supports the type of EHRs specialist providers use the most. The system works with various business sizes. Smaller practices will find the system simple to use. Larger healthcare companies can integrate Med Evolve with their current EMRs to combine billing, record keeping, and other features.
KEY FEATURES:
- Med Evolve allows you to filter records by the patient, body part, procedure, or medication. Instead of going through tedious amounts of paperwork, you can easily find the data you need.
- A customizable dashboard allows staff to quickly access the most commonly used features of the program.
REASONS TO BUY:
- Med Evolve has excellent customer service. The experienced support team quickly delivers the results you expect.
- Unlike some competitors, the software is straightforward and intuitive. Many reviews found it easy to use.
REASONS TO AVOID:
- Some users complain old or outdated information cannot be erased from the system without a full update. It may add time to sort through outdated activities to find the records you need.
- Med Evolve documents cannot be converted to Windows documents or Excel files. If your practice uses Windows files, you may need to choose a different system.
11. Euclid – Best for Hospitals
PRICING: Please contact me for a direct quote.
Euclid is designed specifically for the needs of hospital staff and providers. The goal of Euclid is to streamline billing and remittance procedures. Euclid also maintains excellent records for the easy patient and provider communication. Unlike some competitors, Euclid offers a free trial for interested hospitals.
KEY FEATURES:
- Easy integration with your existing EHR system.
- Options for paper or paperless billing, to work with your style of record keeping and collections.
- HIPPA-compliant e-prescription and medical records software.
REASONS TO BUY:
- Euclid is designed for hospitals. The features work with multi-location hospitals and support many different providers. The company aims to be the solution to the specific issues hospitals face.
- The software takes care of insurance billing at all stages with a high first-pass rate.
REASONS TO AVOID:
- Updating claims with new tests or procedures can be difficult. Uses need to invalidate the original claim and clone it to make changes. This can be time-consuming.
- Some users had difficulty monitoring individual provider productivity and results. Users can assign groups to better track results.
12. TheraNest – An Ideal Solution for Behavioral Health
PRICING: From $39/month.
Finally, a solution specifically tailored to the needs of mental health providers. TheraNest combines traditional billing software with therapeutic notetaking and patient records. Their telehealth program allows you to safely conduct virtual visits with patients from home or office. It frees you to extend your hours and meet with patients who may not be able to get to the office reliably.
KEY FEATURES:
- TheraNest allows providers to accept credit card payments for therapy, counselling, and residential treatment. Easy batch payments enable you to run multiple credit cards at once to quickly complete co-pays and remittances.
- Includes a scheduling and patient visit calendar that merges with your current Google or Apple calendar.
- TheraNest hosts HIPPA-compliant telehealth visits so patients can check in from home. This reduces cancellations and no-shows.
REASONS TO BUY:
- TheraNest is in the Capterra Top 20 list of Mental Health Software.
- The software allows you to easily monitor patient compliance and changes in behavior, including no-shows and medication refills. Patients can also self-report online to address current issues or needs.
REASONS TO AVOID:
- TheraNest is dedicated to the needs of behavioral health providers. It may not work for other types of practices or medical specialities.
- Some reviewers had bad experiences with customer support.
13. Unified Practice – Best Budget Option
PRICING: From $59/month.
For those who need just the basics, Unified Practice has you covered. The software makes notetaking and charting easy. A handy reference guide supplies insurance codes and makes billing a breeze. Unified Practice offers easy online scheduling by connecting with multiple applications. It works on Google, Apple, and Android devices.
KEY FEATURES:
- Email and SMS reminders make sure patients show up to appointments on time and help you schedule more effectively.
- Simplified credit card processing is available directly on your smartphone or device. Front desk staff can easily run cards for co-pays or outstanding bills.
REASONS TO BUY:
- Unified Practice offers inexpensive EHR and medical accounting without a contract. The company delivers less costly solutions that fit the needs of small businesses or new providers.
- Once you’ve purchased the software, adding new providers is simple and cost-effective. Each new provider is just $25/month and there are no contracts.
REASONS TO AVOID:
- Unified Practice is designed for smaller or individual practices and should be seen as a budget option. It may not have the features larger or established practices require.
- There are no telehealth or patient portals provided. Many healthcare providers prefer to let patients access medical records or schedule appointments online.
14. Lightning MD – Top Quality Claims Scrubbing
PRICING: From $49/month.
Lightning MD promotes itself as the fastest app for billing. The service offers creative billing solutions to make payment quicker and easier for clients. Patients can receive e-bills through text or email instead of traditional paper statements. Claims scrubbing and claims management ensure you get paid faster without the hassle. Lightning MD also verifies insurance eligibility before procedures so patients aren’t stuck with high bills.
KEY FEATURES:
- Lightning MD offers a telehealth app so providers can meet with patients from home. You may be able to offer evening and weekend hours or see patients who are reluctant to come to the office.
- The company offers excellent live training as well as excellent customer service.
REASONS TO BUY:
- The company has high ratings on websites such as Trustpilot, with most users saying they liked the software.
- Lightning MD is easy to work with. Setup can be completed in minutes.
REASONS TO AVOID:
- Lightning is cloud-based and cannot be downloaded onto a PC or device. There is no access available in areas without a WIFI connection. In areas with frequent power outages or poor signal, Lightning MD won’t be a reliable choice.
- There is no video library to reference when learning the software. Those who prefer to watch a video rather than read text might find it difficult to understand.
15. Simple Practice – Another Favorite
PRICING: There is a free version. The paid version starts at $29/month.
We love Simple Practice because of their rave reviews and glowing recommendations from users. The company has earned awards from Forbes, the LA Times, Monarch, and Software Pundit. The software meets the needs of specialists including alternative medicine providers, chiropractors, lactation experts, social workers, and massage therapists. Simple Practice makes it easy to file insurance claims and schedule patient visits.
KEY FEATURES:
- Personalized note templates allow you to keep track of session notes easily. You can customize one of their many templates or design your own.
- Simple Practice allows you to set up auto-pay for clients who self-pay. Easy online billing makes it fast and simple for patients to pay their bills. Claims scrubbing and management software are included.
REASONS TO BUY:
- Your forms, notes, and other documents can be formatted with your style and logo for a professional logo.
- That
REASONS TO AVOID:
- Simple Practice is aimed at smaller speciality practices. The software is also tailored to specialities. It may not serve the needs of all practices.
FAQ
What are some important questions to ask when choosing a software option?
A. When selecting medical billing software, it’s important you understand your company’s unique needs and your industry’s best practices. This will help you choose accounting software that works for your business. Ask about updates and support options. Make sure the company provides regular support and maintains its software for security and efficiency. Find out whether the software integrates with your existing suite. Some software works great with various apps and business tools, but not all have this ability.
How can I avoid insurance claims being denied?
A. A high-quality billing software should reduce the incidence of denied claims. Claims scrubbing helps reduce errors that lead to non-payment. Most of our recommendations include this feature. You can also reduce the problem by pre-vetting insurers before performing optional tests and procedures. Some insurance companies require you to seek their approval ahead of time.
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