The best medical billing software has a robust suite of features to simplify and improve the billing process at your medical practice. Features like billing profiles are particularly effective at reducing data entry and improving coding accuracy by letting you set up your most common diagnoses and medical billing codes.

Another time saving tool is real-time insurance eligibility checks where you can instantly check for primary or secondary insurance eligibility at any time in the appointment process. After the appointment, you need to ensure that you can actually get paid. Therefore your medical billing software must make claim submission easy by automating a daily submission cadence.

If your practice is facing denials, your software should help you resolve those easily. One way to help with this is a denials analysis tool that generates reports to indicate which services and codes are responsible for these denials. Then you can address the issues in your billing workflows.

Your EHR and medical billing software should make generating patient statements fast and easy. Statements generated on demand ensure that your patients will have their bill before leaving the office. Finally, your billing platform must have up-to-date billing codes from ICD-10, DSM5 and CPT that you can look up and plug into your patient’s chart.

Small practices often need some medical billing assistance as they begin to grow. Your billing software vendor should make it easy to add on medical billing services for small practices (or any practice that decides their ready to outsource billing).

DrChrono EHR has its own powerful medical billing software that is available to all providers on the Apollo and Apollo Plus plans. This premiere solution will streamline your billing and coding workflows, and it works seamlessly with the electronic health record software. With the reporting dashboard, you can visualize how effective your billing strategies are.

If your practice is interested in outsourcing your medical billing and coding, the Apollo Plus tier gives you access to our team of CPC certified coders and medical billing experts. All the while, you will still have the ability to see exactly what is happening in your revenue process every step of the way.

Practices of any size could potentially be viable candidates to outsource their billing. If you’re trying to find medical billing services for large practices or medical billing services for small practices, there will be plenty of options out there for you to consider. Whether you choose to outsource medical billing or keep it in-house is a matter of comfort and understanding your revenue. There are certain checkpoints and metrics that indicate a practice should consider outsourcing billing.

The first thing to determine is whether or not your practice can afford the service. If you can afford it, and your patient and billing volume is becoming unmanageable for your staff, you should consider an outside solution to help.

Moreover, when reviewing your revenue collections, look at the number of days in AR, clean claims rate and denials rate. These are strong indicators of the strength or weakness of your internal revenue cycle management.

Typically, things should only be in AR for 30 to 35 days. If your practice is above that towards 50 days, then something is seriously wrong with your billing process. You should also have a clean claims rate above 85% and a denials rate below 10%. However, even if your revenue process is going smoothly, it may be worth considering outsourcing billing to provide extra bandwidth to your staff and improve your overall numbers.

One reason to keep billing in-house is the amount of control and clarity you get into your own revenue. It can be difficult to trust an outside vendor with something so critical to your business. That’s why you have to make transparency a high priority when looking at RCM vendors. A clear look into every step of the revenue process by a team of experienced billers and coders will make it easier to know you’re in good hands.

Medical billing software is a necessity for medical practices who do all of their billing in-house. The best medical billing software will streamline these workflows to reduce redundant data entry and increase productivity. With features like billing profiles, reporting dashboards and more, your practice will be able to perform all of the necessary billing functions and have an understanding of areas in need of improvement.

Revenue cycle management is another option for medical billing, but it outsources the billing work to a team of CPC certified coders and medical billing experts. These billing professionals are trained to improve your clean claims rate, cut down on denials and get your revenue on the right track.

DrChrono contains over 73,000 medical billing codes found between ICD-10, CPT, and DSM5. Whether you are an optometrist, psychiatrist, neurologist or any other specialist, our robust library of billing codes will likely have the relevant billing codes for your specialty covered. However, if you are not confident in that, one of our platform experts could confirm this for you. In your EHR, you can look up a specific billing code with the Code Search tool in the Billing drop down menu.