With billing and insurance demands becoming more complicated, you need to make sure to dot every “i” and cross every “t” to avoid claim denials and get paid faster. Medical billing software can simplify this task by allowing you to set up checklists, automate tasks, and more. The software can take the burden off your billing team and help you improve your claim tracking and submittal process. If you’re ready to make your practice more efficient, you may be asking, “What does medical billing software cost?”
Medical billing software varies depending on the platform you’re using and its features. This guide breaks down what to look for in medical billing software, expected costs, and how to choose the right system for you.
Factors That Influence the Cost of Medical Billing Software
When you start comparing medical billing software costs, you may be surprised by the wide range of pricing options. A platform can cost as little as $69 per user per month to as much as $600 per user per month or more. These factors commonly determine how much a company will charge for its software:
- Features: Which functions does the software offer? Is it a basic platform with limited functionality or a robust program with multiple features?
- Scalability: How can the software adapt as your practice grows?
- Equipment Needs: Do you need to install the program on an in-house server, or is the program cloud-based?
- Customization: Can you customize the program for your needs?
- Subscription Model: Does the platform offer a flat monthly fee, or do you have to pay per user?
- Support: How much tech support is built into the cost?
If you’re using a robust system with multiple features specific to medical billing and coding, you can expect to pay more than if you were using a basic medical billing platform. Look for an option developed by people with experience in the medical industry to be sure your software meets compliance and security regulations while offering the features you need.
Additional Costs
Along with the monthly subscription price, you should factor in additional costs. Some of these are one-time costs, while others are recurring.
- Installation and Onboarding: You may have to pay to have the program installed and your account manager train your staff.
- Annual Upgrades and Maintenance: Before selecting a software program, ask about the annual upgrade and maintenance fees so you can prepare for a yearly expense.
- IT/Tech Support: Verify whether tech support is covered in your subscription or if you have to pay an hourly rate to have someone fix issues when they occur.
- Equipment and Infrastructure: When choosing a non-cloud-based option, determine if you need to purchase new equipment or upgrade your server. And if you’re using a cloud-based option, make sure your current computers and other devices can run the program. In addition, check various integrations to ensure you don’t need to switch your electronic health records or other software.
How to Choose Medical Billing Software
Before you start comparing programs, evaluate your current processes and make a list of features you need. Some medical billing platforms offer features beyond billing, such as e-prescribing, appointment management, and other practice management features.
Determine if you’re looking for a fully integrated option or want a solution designed to solve your most pressing medical billing needs. Many platforms integrate with your other software, so you may not need to look for the priciest solution. Make a list of all the software you’re currently using and look for a platform that integrates with your electronic health records (EHR) and other critical software programs.
Assess your future growth plans to determine how much scalability you need in your software. You want a solution that can grow with you, particularly if you intend to grow quickly.
Finally, schedule a demo before committing to a software solution. In the demo, you can assess whether the software is intuitive and easy to use.
Effective Medical Billing Solutions from PUREDI
If you’re looking for a cloud-based medical billing software specifically designed by experts in medical billing, PUREDI offers a solution for you. Our intelligent platform allows you to customize a billing workflow to your specific needs.
Our solution integrates with EHR and clearinghouses, allowing you to collect data seamlessly and submit clean bills to multiple payers. Leverage our analytics reporting to identify claims trends and financial standing so you can effectively operate your business.
Book a demo today and learn more about how we can help you.
