Medical Billing Software Prices
Pricing for medical billing software varies on the size of your operation, how many monthly claims you submit and where you will be hosting your software. Before signing an annual contract with billing companies, be sure to review that you will be receiving support and guidance if any problems should arise.
The simplest in-house server based medical billing software solution can cost you in the thousands. To house all the information necessary, you may find it necessary to incur additional costs; the costs are often much more than medical practitioners expect.
Expect to pay around $3,000-$7,000 for a server mainframe to host and store your information. Software licenses also will run around $1,500 to $3,000 per additional user. In addition to these costs miscellaneous costs should be planned for such as software upgrades and an IT employee. All of this added together, a small healthcare companies in-house medical billing software should run around $10,000- $25,000 without IT support.
With Web-based medical billing software you don’t need to buy a server, software licenses, or pay for upgrades. The hosted software is typically paid on a monthly basis, with small practices; expect to pay around $100-$200 per month for full service hosted software. Other companies will work with your practice and offer solutions based on performance, typical performance costs range from 5% of revenue to 6% of total collection. These solutions offer no up front costs and no setup fees.
Once you are setup with your medical billing software make sure that you have allocated resources to operate the software. Medical billing software specialists range from $10-$15 per hour.
Although price is a major factor in many medical software purchasers’ decisions, it should really be the core features of your vendor that guide decisions. Features that raise your first pass acceptance rate will give you a higher ROI.