The Cost of Different Medical Billing Software
It’s no secret that the cost of healthcare is on the rise. In fact, according to a study by the Commonwealth Fund, in 2010 the United States spent almost twice as much per capita on healthcare as other high-income countries.
One of the main reasons for this is the cost of medical billing software. There are a number of different software programs on the market, and each one has its own price tag.
The cost of medical billing software can range from a few hundred dollars to several thousand dollars. The price tag will often depend on the features and functionality of the software.
Some medical billing software programs are more comprehensive than others, and some come with a higher price tag.
Discounts on Medical Billing Software
The cost of medical billing software can also vary depending on the vendor. Some vendors offer discounts for purchasing multiple licenses, and some offer monthly or annual subscription plans.
When considering the cost of medical billing software, it’s important to consider the needs of your practice. If you only need a basic program, you may be able to find a lower-cost option.
On the other hand, if you need a more comprehensive program, you may need to spend more. Either way, the cost of medical billing software is an important factor to consider when choosing a program for your practice.
Don’t Just Focus on Cost
There are a number of factors to consider when choosing medical billing software for your practice. Cost is certainly one important factor, but it’s not the only one.
Ease of use, features, and compatibility are also important considerations. To get started, take a look at our list of the top 10 medical billing software programs.
Once you’ve narrowed down your options, you can contact the vendors to get pricing information.
Let’s take a look at how much some companies charge for medical billing software. First we will look at two of the more comprehensive programs on the market.
EPIC: The company Epic charges an upfront fee of up to $100,000 for their software, plus an annual maintenance fee of 20% of the initial cost.
NexGen: Another front runner is NextGen Healthcare, which charges an upfront fee of as much as $30,000 for their software, plus an annual maintenance fee of 18% of the initial cost.
These two software programs are among the most comprehensive on the market. They are good. Really good. As you can see, they come with a high price tag.
Now let’s take a look at two less expensive options.
CareCloud: CareCloud charges an upfront fee of $10,000 for their software, plus an annual maintenance fee of 15% of the initial cost.
Practice Fusion: Practice Fusion charges an upfront fee of $0 for their software, plus a monthly subscription fee of $69 per provider.
These two options are less expensive than the first two we looked at, but they still offer a lot of features and functionality.
Other Software Options
Finally, let’s take a look at two free options.
OpenEMR: OpenEMR is a free, open-source software program that can be installed on your own server.
ZH Healthcare: ZH Healthcare offers a free version of its software for small practices with up to three providers.
These two options are completely free to use. OpenEMR is a great option if you have the technical knowledge to install and maintain the software on your own server.
Now that you know how much medical billing software costs, you can start comparing different programs to find the one that’s right for your practice.
Choosing the right medical billing software for your practice is an important decision. The cost of the software is certainly one factor to consider, but it’s not the only one. Equally important factors include ease of use, features, and compatibility.
The best way to find the right software for your practice is to take a look at our list of the top 10 medical billing software programs. Once you’ve narrowed down your options, you can contact the vendors to get pricing information. Check out our list of top medical billing software here.
Author: Mike Cynar
Mike Cynar brings buyers and sellers together by producing reviews and creating non biased webpages allowing users to share their experiences on various products and services. He and his staff write informative articles related to the medical field, legal, and other small business industries.