If you’re in the market for medical billing software, you might be wondering what sort of cost to expect. The truth is, it’s all dependent on what type of software you want, what features your business needs, and how many claims you’re regularly submitting. Understanding your business’s needs before you start your search is a great way to make sure you don’t overpay for a system—and that you find one that’s right for you. The following are some common factors that impact medical billing software pricing.
Start-up and implementation costs
Most systems have a start-up fee, usually wrapped into the cost for implementation and training. This might look pricey and feel like an unnecessary cost, but you’ll be thankful for in-depth software training. While software developers try their best to create intuitive, user-friendly systems, medical billing is still a complex process, which means the software itself has to be able to accompany those needs. You could be operating your new system like a pro within a week or two, but you’ll likely be struggling without any advanced guidance.
Web-based vs. application software
Web-based software is currently the most sought after type of billing software. Application-based programs used to be all billers knew, but this type of system meant that billers could only access their data from one specific computer, in one place. Application-based software leaves no room for remote work, and it also doesn’t allow easy collaboration. On top of that, data is only backed up to a hard drive, making the risk of losing data higher. Web-based software is easy to access from almost anywhere, and makes it possible for teams to collaborate—even if they aren’t in the same physical location. Web-based software has a host of benefits, and as such, it comes with a bigger price tag.
Many electronic medical billing software providers offer buyers the ability to add on custom features to their software plan. This is great if your practice is looking for a very specific feature, but it also boosts your cost. You might not need something up front, but keep in mind down the line that you might need some extra cash to make your software experience better.
Annual renewal fees
Does the software you’re looking at have an annual fee? Make sure you know what you’ll be paying at the end of the year so you can budget. Renewal fees can be pricey, and sometimes, providers aren’t direct about that cost. Ask about this when you’re interested in software so you can be prepared.
Check out Claimgenix today
If you’re ready to check out some software for medical billing, we’re ready to show you our product. Book your free demo with Claimgenix today to see how our software can change the way you do business.