Through the automation of administrative tasks, the pulling of data from electronic health records and other hospital information management solutions, and the organization of individual revenue cycle management (RCM) processes that already exist, revenue cycle management (RCM) software unifies the business and clinical sides of a health care practice. This helps to expedite and simplify the entire financial operations that are carried out inside of a health care business. RCM software is all-encompassing, including features that are also available in medical billing software, healthcare claims management software, health care credentialing software, medical practice management software, and patient engagement software.

So, we have compiled some Best Revenue Cycle Management Software

TOP 8 Best Revenue Cycle Management Software

  1. MedicsRCM- Best RCM software for mid to large healthcare organizations.
  2. Waystar– Best RCM software for financials and providing transparency for patient
  3. CareCloud– Best RCM software for modern and intuitive practice management
  4. Affinity ERP- Best RCM in health care that maximize cash flow in hospital size
  5. Kareo Billing- Best RCM software for medical billing, practice management solution
  6. COMET– Best RCM for fully-integrated clinical, financial and administrative
  7. Nextech – Best RCM software for an electrical health records
  8. Remedly – Best RCM software designed to future-proof your medical practice.

1. MedicsRCM- Best RCM software for mid to large healthcare organizations

PRICING: Contact the support

MedicsRCM is a comprehensive revenue cycle management solution and software for mid-to large-sized healthcare enterprises. MedicsRCM addresses claims and revenue cycle management. MedicsRCM functions on the cloud, granting client’s unlimited access to their data.

KEY FEATURES:

  • Denial Management
  • ERAs, EOBs, and Check scanning
  • Accounts Receivable Management
  • ERAs, EOBs, and Check scanning
  • Medicare and Medicaid Submission

REASONS TO BUY

  • Up to date fee schedule
  • Graphic and dashboard reports.
  • Keep outstanding days to a minimum
  • ADS handles patient calls and statements

REASONS TO AVOID:

2. Waystar- Best RCM software for financials and providing transparency for patient

PRICING: Starting rate, $100/month

Waystar simplifies your revenue cycle by enhancing your financials and offering patients transparency. Waystar is interoperable with all existing systems and offers a comprehensive suite for eligibility verification, claims administration, and denial management.

KEY FEATURES:

  • Eligibility
  • Claim Management
  • Contract Management
  • Patient Financials
  • Agency Management
  • Determinants of Health

REASONS TO BUY

  • Verify eligibility and co-payments
  • Automated invoice verification
  • Determine patients with HSA and high-deductible plans
  • Automated remit matching and reconciliation
  • Predictive analytics to determine patients likelihood of paying

REASONS TO AVOID:

  • Uncover unpaid line items

3. CareCloud- Best RCM software for modern and intuitive practice management

PRICING: Starting price: $ 629/user/month

CareCloud’s innovative and user-friendly practice management and EHR solutions let you spend less time battling technology and more time treating patients. Automate many of the repetitive processes that might slow down your practice, and let powerful analytics give you real-time feedback on your practice’s success, allowing you to run your company with ease.

KEY FEATURES:

  • Increase Collections
  • Healthcare Analytics
  • Patient Engagement
  • Patient Engagement
  • Advanced Billing Rules
  • Electronic Health Records

REASONS TO BUY:

  • Secure Patient Portal
  • Social Collaboration Tools
  • Robust Analytics for Constant Control
  • Streamline Workflow, Increase Revenue
  • Powerful Flexibility for Fast Insights
  • A Single Source of Data for Your Entire Business

REASONS TO AVOID:

4. Affinity ERP- Best RCM in health care that maximize cash flow in hospital size

PRICING: Starting price: 1,800/year

It provides complete ERP, Decision Support, Patient Self-Service, and Revenue Cycle Management software and services to maximize cash flow for small and medium hospitals, healthcare systems, and big physician and long-term care organizations. Start improving your cash flow with a price-match guarantee for fully integrated or stand-alone software solutions.

KEY FEATURES:

  • Systems Management
  • Self-Service Check-In
  • Large Physician Practices
  • Supply Chain Management
  • Supply Chain Management
  • Integrated Delivery Networks
  • Large Long-Term Care Organizations

REASONS TO BUY:

  • Critical Access Hospitals
  • Integrated Delivery Networks
  • Large Physician Practices
  • Large Long-Term Care Organizations
  • Organizations with 20-500+ employees

REASONS TO AVOID:

  • Lack of investment in change management
  • No free trial available

5. Kareo- Best RCM for running an independent medical practice

PRICING:Kareo clinic(HER): $125.00/month, Kreo Billing: $125.00/month,, Kareo pro plus:199.00/month

Kareo facilitates and enhances the operation of an independent medical practice. We provide the first cloud-based clinical and business management technology platform designed specifically to meet the demands of independent practices. Our software enables you to locate and engage patients, operate a more efficient business, offer superior treatment, and get paid more quickly.

KEY FEATURES:

  • Clinical
  • Financial
  • Efficiency
  • Accuracy
  • Clinical Workflow Management
  • Patient Health Information Management

REASONS TO BUY:

  • Compliance – Revenue Cycle Management (RCM)
  • Task Automation – Revenue Cycle Management (RCM)
  • Billing Automation – Revenue Cycle Management (RCM)
  • Claims Data Automation – Healthcare Claims Management
  • Patient Data Security – Healthcare Claims Management

REASONS TO AVOID:

  • Frequently has technical problems

6. COMET- Best RCM for fully-integrated clinical, financial and administrative

PRICING: Starting price: $1000/month

COMET is a suite of clinical, financial, and administrative software programs that provide a streamlined solution for the long-term care industry. COMET provides an EMR-based suite to manage and support all clinical operations and medical.

KEY FEATURES:

  • Clinical Care
  • Electronic Signature
  • For Nursing Homes
  • Geriatric Care
  • Medication History
  • Patient Intake
  • Patient Records Management
  • Admissions Management

REASONS TO BUY:

  • It helps in Work Order Management
  • It’s use aid good Charting
  • It helps in Clinical Care
  • COMETs adaptable and ease-of-use
  • It Has Longevity and Post-Acute Care

REASONS TO AVOID:

  • Additional pricing is included

7. Nextech – Best RCM software for an electrical health records

PRICING: Sign up for the pricing

Nextech is a software system for electronic health records (EHR) that offers electronic medical records, practice administration, revenue management, and patient interaction. Nextech was created for usage in several medical specialties, including ophthamology, plastic surgery, dermatology, and orthopedics.

KEY FEATURES:

  • Maximize charting efficiency
  • Control your workflow
  • Simplify patient records
  • Streamline scheduling
  • Optimize billing
  • Patient Engagement

REASONS TO BUY:

  • Move appointments by drag and drop, copy, or cut and paste
  • Customize views for each user
  • Automated pre-submission error checking
  • Track copays and insurance referrals
  • Easily manage the flow of patients through the office with multi-provider, scheduling capabilities
  • View and schedule all procedure rooms, nurses, doctors, equipment or any combination of resources

REASONS TO AVOID:

  • It’s mostly for medical activities alone

8. Remedly –Best RCM software designed to future-proof your medical practice.

PRICING: Starting price: $200/ month

Remedly is an all-in-one cloud-based software solution for your practice’s software requirements. Systematically handle scheduling, billing, electronic medical records (eMRx), eRx, marketing, inventory management, and insurance billing. Spend more time with patients by automating tedious, repetitive data input and optimizing processes. Remedly’s HIPAA-compliant software includes EMR, Practice Management, Patient Portal, Revenue Cycle Management, Analytics & Reports, eCommerce, and Marketing.

KEY FEATURES:

  • Practice management
  • Automated scheduling
  • Patient waitlists
  • Patient visit summary
  • Lead conversions
  • Task reminders
  • Post-treatment consults
  • Smart appointment reminders
  • Practice contacts management
  • Support for multiple locations/rooms/devices

REASONS TO BUY:

  • Remedly never charges extra for additional support.
  • It’s best for Mental Health and Chiropractics specialists.
  • A Customer Success Manager will set up your account and provide training for your staff.
  • Save costs by addressing all your practice software needs in one integrated solution
  • It increases the efficiency with which a complicated cosmetic surgery practice is managed.

REASONS TO AVOID:

  • Additional payments are required for special modules
  • Mostly useful for medical purposes

Reference and Link

  • https://softwareconnect.com/ehr/remedly/
  • https://softwareconnect.com/hospital-management/affinity-erp/
  • https://softwareconnect.com/revenue-cycle-management/medicsrcm/
  • https://softwareconnect.com/medical-practice-management/carecloud/