After conducting our 2018 research and analysis of medical billing services, we recommend DrChrono as the best medical billing service for small practices.
We chose DrChrono from a pool of dozens of medical billing services. To learn more about our full methodology and for a more comprehensive list of medical billing companies, see Business News Daily’s best picks.
Medical billing is no simple thing. Maintaining a healthy revenue cycle management (RCM) process takes a dedicated and informed staff, and a great deal of following up with insurance companies and other payers, like Medicare and Medicaid. It’s not uncommon for claims to be partially paid or rejected altogether, and even when they are paid in full, it can take a long time to finally collect. With the right medical billing service, though, practices can outsource their RCM, taking the burden off their staff and possibly even boosting revenue in exchange for a percentage of their net collections.
Our best pick for medical billing services for small medical practices is DrChrono, because it provides a quality RCM service for an affordable price, as well as access to its entire suite of healthcare IT products. For a small practice that needs reliable service on a budget, DrChrono serves as a one-stop shop that won’t break the bank. For brand-new practices, DrChrono also offers a hybrid plan, which allows providers to outsource a portion of their billing for a fraction of the cost, allowing them to ramp up and determine what their monthly volume might be.
DrChrono handles the billing process from end to end. The company maintains certified coders on staff to ensure your claims are properly completed prior to submission. It also scrubs claims before submission to reduce errors that could result in denials. Once claims are submitted through the clearinghouse, DrChrono follows up on any denials and corrects any errors that could cost more money. DrChrono will also bill patients, follow up on unpaid statements and work with collections if necessary.
The company claims that it maintains a 94 percent first-pass claim submission rate, and that 96 percent of all its claims are paid within 60 days of submission. DrChrono’s denial management team works to turn around denied claims for resubmission within 48 hours of their rejection as well. Its coders are familiar with a wide range of specialties and can adapt to your practice’s needs. The software is designed to be customizable and friendly with any workflow.
DrChrono includes its integrated practice management and electronic health record (EHR) software in the price of its medical billing services. For small practices, DrChrono’s EHR should be more than enough to get up and running and meet Meaningful Use requirements. It has a low learning curve and won’t require extensive training to bring your staff up to speed. To learn more about DrChrono’s EHR and practice management software, see our sister site Business.com’s full review.
The fact that DrChrono makes its entire suite available to customers for no extra cost is extremely useful for practices that don’t want to risk interoperability problems. Medical billing services operate within your practice management software, so ensuring compatability is key. Moreover, you’ll want your outsourced RCM team to be familiar with the software they’re using, and DrChrono’s model guarantees that would be the case. However, if you already use a different EHR and practice management solution, DrChrono can likely work within that as well.
DrChrono’s pricing falls right in the average range of the services we reviewed. Typically, DrChrono’s medical billing service costs about 6 percent of a practice’s collections, but, depending on the size and scope of your practice’s operations, that number could range from 4 to 9 percent. There are no setup, implementation or clearinghouse fees associated with DrChrono; the percentage you are quoted is the percentage you will be charged. The EHR and practice management software is also included in the percentage price. DrChrono requires a minimum contract term of one year, which is standard in the medical billing industry.
Support and Customer Service
DrChrono offers the support of an implementation team, led by a dedicated account manager, to get your practice started. After the implementation period, the dedicated account manager serves as a one-to-one liaison between your practice and the RCM team. There is also a support center ticket system for any issues with software or questions about Meaningful Use compliance.
Our customer service experience with DrChrono was pleasant and informative. We asked the representative to run through the claims process from start to finish, as well as to break down pricing. The customer service rep was patient as we ran through our list of questions, posing as a soon-to-open medical practice testing the waters of outsourced medical billing services. We didn’t feel pressured to buy at any point, and the rep was helpful in following up with additional materials.
DrChrono offers a complete RCM service for an inexpensive price along with its easy-to-use EHR and practice management systems. The biggest limitation is that DrChrono’s EHR solution is somewhat more basic than what a larger practice might need, so be aware that you could grow out of it in time. However, for small practices it is more than enough to get started and attest for Meaningful Use.