Top 7 Practice Management Software to know

For medical practices, the practice management software is their lifeline. It helps them register patients, manage appointments, contract with payers, submit claims, and obtain reimbursements for the services they provide.

Practice management software can be divided into three major categories such as desktop-only, client-server-based, or internet-based software. A desktop-only software can be used on one monitor and cannot be used for multiple users. A client-server is where the practice hosts the software on a leased server and allows multiple users to access the server. An internet-based software is an emerging group of PMS that enables numerous integrations. Over the last decade, internet-based software platforms, or what is also referred to as SaaS or cloud-based software, have gained market share for their anytime, anywhere access and ease of coordinating clinical and financial processes. Further, some providers have focused on building software with advanced features to improve billing, clinical documentation, and reimbursements for specific specialties.

Please scroll below to find out about the leading practice management software.

• AdvancedMD

AdvancedMD provides unified software solutions for Hospitals, practices, and billing companies. Its features include practice management, EHR, medical billing software, patient engagement tools, analytics, and business intelligence functionality. It also provides the highest level of data security available.

AdvancedMD makes managing practices easy by integrating claim management, clearinghouse, and patient payments in one location. It also has a specific PMS for mental health, physical health, and tribal health.

• Athena Health

Athena One from Athena health is a cloud-based medical management software suite including an EMR system, practice management system, and medical billing software.  Its consultation-based approach to practice management and reporting tools are factors that differentiate Athena from other EMRs. In addition, Athena also has additional features such as patient charting, e-prescribing, telehealth, and scheduling. Athena's reporting tools help you choose your KPIs through various virtual filters and compare your reports with practices of similar size in athenahealth's large network.

• Kareo

Kareo is a web-based practice management and medical billing software. New practices prefer Kareo to connect patient engagement, care delivery, and reimbursements, thereby making it effortless. It also helps reduce no-shows using its schedule and appointment reminder features.

Kareo is known for reducing insurance billing complexities by verifying the eligibility of a patient immediately. It also has other features such as billing analytics and advanced claim processing across multiple specialties, including mental health, family medicine, pediatrics, cardiology, and more.

• DrChrono

DrChrono is an EHR, which, unlike other EHRs, has built-in, integrated practice management software. This seamlessly integrates appointment scheduling, benefits verification, reminders, payments, and revenue cycle management. It allows its user to access the PMS from anywhere through iPad, iPhone, or web because it is cloud-based.

DrChrono can submit lab orders to almost 40,000 labs around the United States, and the reports can be uploaded directly into its EHR.

• WebPT

WebPT is a cloud-based platform that has a product specific to every business need of therapists. WebPT is widely used at physical, occupational, and speech therapy clinics. It allows its users to 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 within the core EMR product.

• Practice Fusion

Practice Fusion is a cloud-based EMR that can be customized to match the workflow of practices of any size and support various specialties such as cardiology, dermatology, physical therapy, mental health, internal medicine, and many more. It consolidates the provider's responsibilities with the staff using features like task management, scheduling, and effectively organizing patient data before and after a visit.

• NextGen Office

NextGen office, formerly known as Meditouch, is a cloud-based EHR designed for private practices. It includes e-prescribing, connection to major labs, consolidated patient data, billing, and reporting. It allows real-time eligibility verification and drag & drop appointment scheduling. NextGen's actionable Insights and reporting functionality reduce rejections and denials.

Conclusion

Hundreds of practice management software are available today but most of the market is with the top 20 providers. Choosing the best software for managing your practice can be complex, and it is just the first step. Revenue cycle decision-makers must choose the software wisely and look for advanced features to manage patient experience, improve denial analytics, improve 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 you do not build the right team with the requisite expertise. To build a process-oriented, leakage-free financial structure, outsource your RCM needs to experts like Medical Billing Wholesalers. Our team of billers, coders, and credentialing analysts are the perfect guides for hospitals & practices of all sizes. We employ cutting-edge technology and automation to render industry-standard results.

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