EMR Platforms for Revenue Cycle Management 2023
When you’re bringing in a certain amount of revenue in your medical practice, you can’t have expenses that exceed that revenue. Although that may seem like a basic concept, it’s not easy to manage all your expenditures. Although the primary objective of any medical practice, large or small, is to provide value-based medical care to their patients. However, every healthcare institute needs to develop strategies to ensure long-term financial health.
After all, no business ever runs without money. That’s where healthcare revenue cycle management (RCM) systems come in. In simple terms, revenue cycle management software is the financial workhorse of medical practices, tracking each billable patient interaction from scheduling to payment completion.
If you’re having trouble finding the right RCM software for your practice, fear not. We’ve compiled a list of top EMR platforms for RCM based on popular user reviews and valuable feedback. These include:
We’ll go over each of these EMR software for revenue cycle management software individually, their features, user ratings, and reviews in the next sections.
athenaCollector EMR is one of the industry’s leading RCM software by the healthcare IT provider athenahealth. What makes athenaCollector unique is that it can be easily integrated with athenahealth’s EHR/EMR software, telehealth, and patient engagement tools. It combines effective healthcare services with data-driven insights from the largest inter-connected healthcare network.
93% of claims are cleared in the first submission, which is 25% higher than the industry average. It is also estimated to save more than 3+ hours weekly per physician with automated patient scheduling and outreach features. Here are some of the notable features of athenaCollector:
- Claims Management
- Appointment Scheduling
- Patient Check-In
- Performance Monitoring and Reporting
- Integrated Billing Solutions
Here’s what their users have to say about them:
- From a managerial perspective, the software is simply outstanding. It helps manage teams and medical staff easily. – Michelle G.
- I like how they know exactly what their users want before they even know it. Their services include everything we need in our practice. – Lori F.
- Their billing features are very easy to use. The ease of navigation is a great feature. – Terri M.
Software Finder Rating: 4/5 based on users’ reviews of Athenahealth.
AdvancedMD is one of the leading players when it comes to integrated healthcare IT solutions. Their RCM module comes equipped with award-winning administrative, clinical, and patient engagement solutions. Instead of thinking of themselves as just software, AdvancedMD partners with their users and helps them work smarter, save time and resources, and generate revenues.
While other vendors focus on being competitive, AdvancedMD EMR software focuses on being an industry-leading healthcare IT provider services like claims scrubbing, financial reporting, and business intelligence (BI). Also, their first claim acceptance rate is more than 95%. Here are some of their top features:
- Simplified Claims Management
- Full Integration
- Unparalleled Flexibility
- Business Intelligence
Also read our report on Top Performing EMR Software in 2020.
Here’s what their users have to say about AdvancedMD’s Revenue Cycle Management.
- The system is very user-friendly, and navigation is designed to reduce number of clicks. – Janice T.
- The customer support is excellent. If you ever have a problem, they will be nice enough to fix it as soon as possible. – Beth J.
- I love how AdvancedMD offers a great deal of customization. I would give full marks to the features. –Darin P.
Software Finder Rating: 4/5 based on users’ reviews of AdvancedMD.
DrChrono is a healthcare IT solutions provider that helps you maintain a steady revenue. Their features enable you to focus more on your patients without having to worry much about your billing process. They provide a dedicated team of experts who help you with coding compliance and streamlining your claims management.
According to their users, DrChrono EMR software has a first claim submission acceptance rate of 96%+. They also have a turnaround time of 48 hours on denied claims along with denial management to help you re-submit rejected claims. Their top features include:
- Rejection Analysis
- RCM Task Manager
- BI Tools
- Front-End Advice
Here’s what their users have to say about their services:
- The features of this software are incredibly professional and useful. It is effortless to navigate. – Baden P.
- I like how seamlessly I can integrate it with other medical software. Plus, the navigation is super easy too. – John Z.
Software Finder Rating: 4/5 based on users’ reviews of DrChrono.
You might already be aware of eClinicalWorks EMR software from their industry-leading healthcare solutions. Recently eClinicalWorks has also started offering revenue cycle management as one of their services. They provide a unique combination of useful technology and efficient workflows to maximize your revenue generation efforts. They also provide a ‘Rules Engine’ to make sure you stay compliant with coding requirements.
eClinicalWorks RCM may be a new player in the field, but they’re not behind in the race. They offer a first claims acceptance rate of more than 98%, one of the highest in the industry. Some of their unique features include:
- Real-Time Claims Adjudication
- Six Levels of ClearingHouse Integration
- Centralized Work Queue
Here’s what their users have to say about eClinicalWorks RCM.
- It is a great software that offers easy solutions to many tricky problems. It makes communication easy. I love it. – Nichole E.
- eClinicalWorks is a smart and intuitive software that is so easy to navigate. Billing tools and scheduling tools are my most favorite features. – Carrie F.
Software Finder Rating: 4/5 based on users’ reviews of eClinicalWorks.
Conclusion - Find The Right Fit For Your Practice
We understand finding the right EMR software that offers all the services you need isn’t easy. That’s why we’ve compiled a list of top EMR platforms for Revenue Cycle Management (RCM) in 2021 that you can to simplify your EMR search.
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