Medical practices rely on practice audit and reporting software to stay afloat. It assists them in registering patients, scheduling appointments, contracting with payers, submitting claims, and receiving reimbursement for the services they provide.
Practice management software is classified into three types: desktop-only, client-server-based, and internet-based software. Desktop software can only be used on one monitor and cannot be shared by multiple users. A client-server system is one in which the practice hosts the software on a leased server and allows multiple users to access it. An internet-based software is a new type of PMS that allows for numerous integrations. Internet-based software platforms, also known as SaaS or cloud-based software, have gained market share over the last decade due to their anytime, anywhere access and ease of coordinating clinical and financial processes. Furthermore, some providers have concentrated on developing advanced software to improve billing, clinical documentation, and reimbursements for specific specialties.

Optimedservices is a leading medical billing company in the United States.

AdvancedMD

AdvancedMD provides hospital, practice, and billing companies with unified software solutions. Practice management, EHR, medical billing software, patient engagement tools, analytics, and business intelligence functionality are among its features. It also offers the highest level of data security.
AdvancedMD simplifies practice management by combining claim management, clearinghouse, and patient payments in one location. There are also PMS for mental health, physical health, and tribal health.

Athena Health

Athena One from Athena Health is a cloud-based medical management software suite from Athena Health that includes an EMR system, practice management software, and medical billing software. Stands out from other EMRs due to its consultative approach to practice management and reporting tools. Furthermore, Athena includes features such as patient charting, e-prescribing, telehealth, and scheduling. Athena’s reporting tools assist you in selecting your KPIs using various virtual filters and comparing your reports to practices of similar size in the Athena health network.

Kareo

Kareo is a practice management and medical billing software that is accessible via the Internet. It is preferred by new practices because it seamlessly connects patient engagement, care delivery, and reimbursements. It also reduces no-shows by utilizing its scheduling and appointment reminder features.
Kareo is well-known for reducing insurance billing complexities by instantly verifying a patient’s eligibility. It also includes billing analytics and advanced claim processing across a variety of specialties, including mental health, family medicine, pediatrics, cardiology, and others.

DrChrono

DrChrono is an EHR with built-in, integrated practice management software, unlike other EHRs. Appointment scheduling benefits verification, reminders, payments, and revenue cycle management are all seamlessly integrated. Because it is cloud-based, users can access the PMS from anywhere using an iPad, iPhone, or the web.
DrChrono can send lab orders to nearly 40,000 labs across the country, and the results can be uploaded directly into its EHR.

WebPT

WebPT is a cloud-based platform with a product for every therapist’s business needs. It is popular in physical, occupational, and speech therapy clinics. Within the core EMR product, users can add practice management-specific features such as patient scheduling, automated appointment reminders, telehealth capabilities, digital patient intake, file storage, outcomes tracking, and a home exercise program.

Conclusion

There are hundreds of practice management software options available today, but the top 20 providers control the majority of the market. Choosing the best software for your back office services can be difficult, and it is only the first step. Revenue cycle decision-makers must make wise software selections and look for advanced features such as patient experience management, denial analytics, patient pay estimation, and more.
While an RCM platform equips the practice, managing routine revenue cycle tasks can be time-consuming, costly, and ineffective if the right team with the necessary expertise is not assembled. Outsource your RCM needs to experts like Medical Billing Wholesalers to create a process-oriented, leak-free financial structure.