Running a small medical practice comes with the challenges of constantly juggling many tasks. This can be from managing administrative tasks and attending treatment to medical billing while ensuring they are efficient. This can be a very time-consuming and overwhelming journey which can affect their revenue cycle. However, there is now a quick and handy solution – "medical billing software for small business" 


Medical billing software has become prevalent in the healthcare industry over the years because of its ability to reduce errors and ensure timely payments. This means that healthcare providers that own a small practice must either invest in paying for medical billing software  or outsource their medical billing to a professional medical billing service.  


Using the best software will enhance their office’s reimbursement rates, optimize revenues, and support sustainable medical practice. But, with a pool of options in the market, choosing the best software that will work and align with their practice becomes a hassle. 

So, how can they achieve this? Medicraft has done all the work for you by curating a list of the best medical billing software for small business. We will also talk about their features and functions so that you can assess your office’s needs and make a great choice. 

What is Medical Billing Software for Small Business?


Medical billing is the process of creating medical claims to be submitted to insurance companies in order to get reimbursement for medical services provided by healthcare providers. 


The medical billers are responsible for converting a treatment process into a billing claim and monitoring it to ensure reimbursement. A healthcare provider can maximize their revenue cycle and cash flow by using the best medical billing software for small business. 

The Best Medical Billing Software for Small Business 


Medicraft 


Medicraft is a cloud-based software that is designed to make billing easy for healthcare providers. Its seamless and end-to-end solution eliminates your administrative burden and ensures automated billing processes, proper tracking, and timely reporting.  


With this software, healthcare providers get better claims acceptance, quicker reimbursements and increased revenue. They ae also able to focus on building the best relationship with their patients. 

Some of the features of Medicraft include the following :   

  • Integration with Electronic Health Records 
  • Claim management 
  • Automatic coding suggestion 
  • Customizable data and reporting 
  • Revenue Cycle Management 
  • HIPAA compliant 
  • Insurance verification 
  • Real-time inventory control. 


RXNT 


RXNT is a user-friendly cloud-based medical billing software for small business. It is an affordable and far-reaching software that is able to integrate administrative tasks, permitting specialists to focus on patients. The software's straightforward pricing and scalability make it a smart decision for small practices that want to extend over the years.  

Some of the features of RXNT include the following : 

  • Automated insurance eligibility verification 
  • Claims processing 
  • Patient statements 
  • Collections tracking 
  • Integrated SMS reminders 
  • Patient scheduling, and financial reporting.  
  • Electronic prescribing 


Dr Chrono 

Dr Chrono is a cloud-based billing software with a patient management portal that is able to handle different types of medical billing tasks with greater efficiency. It provides faster accessibility to patient information and streamlined workflow.  

This affordable medical billing software also offers smoother clinical and administrative tasks, making it ideal for busy professionals. 

Some of the features of DrChrono include the following :  

  • Integrates electronic health records (EHR) 
  • Adjustable templates 
  • Appointment scheduling 
  • Real-time eligibility checks 
  • Patient documentation 
  • Payments and analytics 
  • Integrated e-prescribing 
  • Direct messaging capabilities 


Kareo Billing 


Kareo Billing is a web-based medical billing with patient data functions for managing patient care. This software is a very popular online medical billing software for small business because of its affordability and convenience. It also provides a seamless medical claims process as soon as input patient data is inputted. 


Its patient management feature also allows patients to schedule appointments at their convenience and accessibility to help with any issues. With this software, healthcare providers are able to reduce billing errors and get paid faster. 

Some of the features of Kareo Billing include the following :  

  • Administrative efficiency 
  • Patient scheduling and statements 
  • Claims management 
  • Billing analytics 
  • Eligibility checks 
  • Payment tracking 
  • Billing Dashboard 
  • Claim denial management 


Advanced MD  


Advanced MD is an all-in-one cloud-based medical billing software beneficial for multi-specialty practices and integrates seamlessly with EHR systems. 


It ensures speed and reliability for busy professionals, making it one of the best medical billing software for small business. With Advanced MD, medical practices can handle all the patient data accurately and efficiently. This improves treatment experience and patient retention. 

Some of the features of Advanced MD include the following :    

  • Customizable billing and coding solutions 
  • Automated claims management 
  • Denial follow-up 
  • Seamless integration  
  • Detailed reporting and analytics 
  • Appointment scheduling 
  • Patient records and management


Collaborate MD 


Collaborate MD is a cloud-based system that allows quick submission of medical claims, and accurate tracking of accounts receivables. It is a cost-effective solution with an emphasis on clarity and usefulness. Collaborate MD's ability to resolve complex coding issues makes it stand out and appeals to small practices hoping to generate better revenue. 

Its clean, simple and user-friendly interface makes it a great option for healthcare providers. Collaborate MD also integrates with all EHRs, and the company promises that integrations will be created for any unsupported EHRs used by healthcare providers. 


Apart from billing, Collaborate MD’s practice management features include the following : 

  • Easy appointment scheduling 
  • Quick patient insurance verification 
  • Comprehensive financial reports  
  • Practice management 
  • Manage future cash flow 
  • Seamless integration 
  • Submit claims accurately 
  • Track accounts receivables 


AthenaCollector 


AthenaCollector is a reliable cloud-based billing platform that simplifies the complexity of managing your medical billing software. It provides comprehensive billing and patient management, helping healthcare providers to easily navigate their finances. 


AthenaCollector is designed to streamline billing processes for healthcare practices by simplifying the user experience and making medical billing more efficient. It also reduces claim denials with frequently updated rules and is suitable for practices of various sizes and complexity. 


Some of the features of AthenaCollector include the following : 
   

  • Revenue cycle management 
  • Patient scheduling 
  • Financial reporting tools 
  • Real-time updates  
  • Data access from any location 


NextGen Medical Billing Software 


NextGen is another software that provides one of the best online medical billing software for small business. This software offers a comprehensive, easy-to-manage billing process that integrates both clinical data and financials into one unified system.  

NextGen is a patient-friendly billing software with an easy-to-use interface that helps healthcare providers save time on administrative tasks. They also have helpful tools such as payment due reminders and convenient online payment options.  

This software is designed to improve billing operations by reducing manual data entry,saving time, and minimizing errors. 


Some of the features of NextGen include the following: 
     

  • Advanced tool for managing claim rejections 
  • Claim tracking and processing 
  • Automated bill generation 
  • EHR integration 
  • Patient Insurance Eligibility 
  • Financial analytics 
  • Patient Portal 


Key Takeaways for Using Medical Billing Software for Small Business 

  • Choosing the right medical billing software makes it easier for healthcare professionals to manage their billing and administrative processes. 
  • The software saves time by automating tasks such as verifying patient insurance eligibility, generating patient statements, tracking insurance payment status, and many more. 
  • It ensures accuracy in the billing process by reducing manual entry errors. 
  • The software can be integrated into nearly any Electronic Health Record, 


Medicraft is a reliable medical billing software specially crafted to maximize reimbursement. Our advanced features, compliance with healthcare regulations, and seamless integration capabilities make our software ideal for healthcare providers looking to streamline their billing process and improve cash flow.