August 9, 2024

It is impossible to imagine the challenges of healthcare professionals. We all think that the only thing they do is serve patient needs. But that’s not the truth. The most shocking thing is that healthcare professionals spend 2/3rd of their time on paperwork and other administrative tasks. 

In such a scenario, it became almost impossible for healthcare providers to prioritize patient care. This imbalance leads to compromised patient outcomes. In response to this challenge, medical practices have started to rely on third-party medical billing companies for their billing processes.

This move helps minimize billing errors, prevent staff burnout, and capitalize on multiple other benefits. Medical billing services are some of the most frequently outsourced tasks in the US healthcare sector. Are you one of the healthcare providers or an insurance company browsing the internet for the ‘best medical billing companies near me’? Then, you have come to the right place.

In this article, we will learn about the 10 top medical billing companies that can accelerate reimbursements and improve your revenue cycle.

What are the benefits of medical billing services?

Before we jump into the best companies where you can outsource your medical billing and coding processes, let’s have a brief look at the advantages you can expect. Here are the top benefits of partnering with a leading medical billing firm:

1. Reduced Administrative Burden

Most healthcare providers don’t have a medical billing team, and they rely on their front desk officers, who are not proficient in billing. It often results in medical billing errors and delays that limit the patient flow. On the other hand, having an in-house team costs you a lot of money and time for onboarding.

Outsourcing your medical billing and coding processes will help you reduce the burden on your team and empower them to focus on serving humanity. By doing so, you can lower expenses, see more patients, and ultimately enhance your revenue while improving patient care.

2. Eliminate Errors

In 2021, 48.3 million claims were denied, which is 16.6% of all claims submitted that year. The main reason for the growing number of claim denials was the lack of proficient medical billers. It leads to coding errors, incomplete or wrong information, and duplicated claims submission.

Partnering with the best medical billing companies gives you access to a talented pool of individuals who specialize in claim submissions. These professionals ensure claims are accurate and submitted on time for faster reimbursements. 

With professional medical billers by your side, you can reduce claim rejections. This way, you can get paid quickly and easily for the services you provide.

3. Lower Costs

One of the major reasons behind outsourcing medical billing processes to a third-party vendor is the cost-effectiveness. Hiring an in-house team and training them is super expensive. And let’s not forget about the costs of office space, furniture, and all the other stuff you need!

However, hiring a medical billing vendor will cost you much less and provide high-quality services. What’s more, organizations have the choice to pick the best pricing model (transaction, percentile, FTE) that fits their needs.

4. Billing Compliance

A lot of healthcare providers underestimate the importance of complying with GDPR and HIPAA regulations. Let me clarify: it is one of the most crucial things that you must prioritize. Non-compliance with international regulations can result in significant fines and even imprisonment.

You must partner with a HIPAA-compliant medical billing services provider to ensure that your processes and data are secure. Medical billing vendors keep themselves aware of changing regulations and help you avoid legal penalties.

List of 10 Best Medical Billing Companies

Now that we have mentioned a few of the numerous benefits you can expect from outsourcing billing tasks. There’s no better time to explore the best medical coding and billing companies for your needs:

1. Xeven Solutions

Xeven Solutions is a dedicated AI healthcare company that has a talented pool of medical billers. They have deep roots in the USA, UK, UAE, and Pakistan. They offer a range of medical billing services, including revenue cycle management, EMR integration, AR services, and medical credentialing. They tailor their best medical billing services to meet the unique needs of clients. 

They have won several awards and recognitions due to their commitment to delivering best-in-class HIPAA-compliant services and serving human needs in a better way. By partnering with them, you can accurately submit claims, expedite the payment collections process, and gain control over your finances.

Services

• Medical Billing Services
• AI Development
• Telemedicine Solutions
• EMR/EHR Development

Company Profile Summary

Min Project Size: $10,000+

Employees: 50 – 249

Founded: 2015

2. Kareo

Kareo is one of the best medical billing companies that help organizations achieve their objectives. They help reduce the burden on your team and optimize your finances. Their passionate and result-oriented team is committed to improving the care journey for both patients and providers with their best medical billing services. They offer a range of services, including claim submissions, coding, insurance verification, etc. With Kareo managing your billing tasks, you can rest easy.

Services

• Medical Billing 
• Telehealth
• Mobile Apps
• Practice Management Solutions

Company Profile Summary

Min Project Size: $1,000+

Employees: 1000 – 9999

Founded: 2004

3. DrChrono

DrChrono is a top-tier medical billing firm located in the USA. They are known for their comprehensive healthcare services, including medical billing, revenue cycle management, and practice management solutions. This medical billing company has a highly skilled team that focuses on reducing denial rates and maximizing clean claims for small practices and large hospitals. They have earned the trust of many healthcare providers with their reliable services.

Services

• Medical Billing
• Patient Portal
• Telehealth
• Mobile EHR Solutions

Company Profile Summary

Min Project Size: $10,000+

Employees: 50 – 249

Founded: 2009

4. CareCloud

CareCloud is another noteworthy name that has contributed heavily to the healthcare sector. They were founded in 1999 and are serving thousands of healthcare providers. They focus on reducing claim denials, error management, and securing patient information for medical practices. Their medical solutions range from revenue cycle management, healthcare data analytics, clinical coding, and more.

Services

• Medical Billing
• Robotic Process Automation
• EHR software development
• Practice Management

Company Profile Summary

Min Project Size: $5,000+

Employees: 1,000 – 9,999

Founded: 1999

5. Athenahealth

AthenaHealth is one of the pioneer medical billing services providers founded in 1997. They have a strong team of 7000+ employees who are proficient in providing various healthcare services, including claims management. Their services aren’t just confined to providing the best top-notch billing services but also deliver practice management and patient engagement solutions. Their services not only enhance employee productivity but empower healthcare providers to achieve greater patient outcomes and favorable financial outcomes.

Services

• Medical Billing
• EHR Development
• Patient Engagement
• Revenue Cycle Management

Company Profile Summary

Min Project Size: $1,000+

Employees: 1,000 – 9,999

Founded: 1997

6. eClinicalWorks

eClinicalWorks is another provider of the top medical billing services that help providers enhance their medical practices’ financial viability. They utilize their cloud-based EHR software to automate workflows and ensure seamless patient records, billing, and practice management integration. For healthcare organizations looking online for the best medical companies near me, this is the ideal partner for you. They help to reduce claim denials and ensure faster reimbursement cycles. 

Services

• Medical Billing
• Interoperability
• Patient Engagement
• EHR Development

Company Profile Summary

Min Project Size: $1,000+

Employees: 1,000 – 9,999

Founded: 1999

7. CureMD

Since its inception in 1997, CureMD has served the healthcare community with innovative medical services. They have earned a global reputation as the best medical billing service provider for their scalable revenue cycle management solutions. Their services include everything from coding to managing accounts receivable. The best thing that sets them apart from others is their all-in-one platform that seamlessly integrates EHR, practice management, and patient engagement tools, offering healthcare providers a truly holistic solution.

Services

• Medical Billing
• Custom Software Development
• Care Management Platform
• Patient Portal

Company Profile Summary

Min Project Size: $1,000+

Employees: 1,000 – 9,999

Founded: 1997

8. AdvancedMD

AdvancedMD made it to our list of the best medical billing companies due to its proficiency in delivering a range of healthcare billing services. It was founded in 1999, and since then, it has helped hundreds of businesses to take control of their revenue processes and gain sustainability. They have a well-versed team of medical billers that handles claim submission and denial management with higher accuracy. Their intuitive software seamlessly integrates billing with EHR and practice management systems to optimize reimbursement processes for maximum efficiency.

Services

• Medical Billing
• Revenue Cycle Management
• Consulting
• Interoperability

Company Profile Summary

Min Project Size: $1,000+

Employees: 250 – 999

Founded: 1999

9. Revele

Revele was founded in 1999 and has over 200 employees with an aim to transform your billing processes. They have a Glassdoor rating of 3.8, which is a testament to their extraordinary services. Its expertise in revenue cycle management and medical billing includes remote staffing, patient payment solutions, denial management, clinical coding, and healthcare analytics. Additionally, it excels in EHR software systems and MIPS compliance.

Services

• Medical Billing
• Clinical Coding
• Denial Management
• Healthcare Analytics

Company Profile Summary

Min Project Size: $1,000+

Employees: 50 – 249

Founded: 1999

10. ChartLogic

ChartLogic is your go-to place when looking for affordable yet best medical billing services. They offer a range of solutions, including medical billing and revenue cycle management solutions. They help healthcare providers by removing routine burdens from their teams and with faster reimbursements to gain financial stability. Whether you run a small clinic or a large hospital, their flexible services can be customized to fit your operational requirements.

Services

• Medical Billing
• EHR Development
• Practice Management Software
• E-Prescribing Tools

Company Profile Summary

Min Project Size: $1,000+

Employees: 50 – 249

Founded: 1994

Conclusion

We have discussed in detail the benefits you get by outsourcing billing tasks. Moreover, we have carefully curated a list of the best medical billing companies to help you hand over your processes to reliable firms. However, we recommend you connect with the above-mentioned companies to learn about their pricing and how they can help you with faster reimbursements and gain financial stability.

About the Author: Taimoor Asghar

Taimoor Asghar is a Technical Content Writer with a passion for emerging technologies, continuously keeping himself updated with the latest industry and technological trends. He ensures that complex concepts are translated into informative pieces, catering to both experts and novices. He crafts engaging narratives through blogs, articles, and how-to guides that captivate audiences and inspire them to delve deeper into the ever-evolving world of tech innovation.