Gone are the days of investing in segmented solutions. Nowadays, everyone seeks convenience at the lowest possible price, and so do healthcare providers. All medical practices need solutions to streamline their clinical operations and handle their financial aspect side-by-side. Implementing two separate solutions for this purpose is nothing but an act of foolishness. Instead, they seek all-rounder EHR platforms.
This demand for all-in-one platforms leads to the conception of EHR solutions like Kareo EMR and NextGen EMR. These solutions offer integrated capabilities, telehealth service, medical billing, patient engagement, and care coordination services under one roof. But here we have centered our focus on the bills handling service. This Kareo vs NextGen guide will help you determine which of them provides a more compact billing module.
Billing Management By Kareo EMR Software
Kareo EMR is a flawless solution built for independent practitioners. It minimizes the administrative burden of practices by featuring an innovative feature range. Managing the financial side of practices is a breeze with the exceptional finance management services of Kareo billing software. It not just handles the bills and invoices but offers way more than that. The vendor works by:
- Simplifying payment collections to handle accounts receivables quickly.
- Automating post payment to reduce A/R time.
- Verifying insurance eligibility to minimize denial rate
- Offering charge capture facility to improve productivity
- Meeting billing standards of the healthcare industry
- Processing due claims and payments smoothly
- Accelerating payment cycle with electronic patient statements
- Providing credit card processing functionality for online bills clearance
- Automatically flagging denials to maximize reimbursements
Besides these, there are managed billing services, which proves that Kareo software is a trusted partner for optimizing reimbursements. Moreover, clients can easily outsource their billing requirements so that Kareo EHR can handle it all with its integrated technology. Besides that, Kareo EHR especially focuses on the needs of medical billing companies. Leveraging the industry’s expertise, Kareo software is a trusted billing partner of over 1600 billing companies.
Kareo EMR Software Reviews
The reviews of Kareo software are worth exploring in this Kareo vs NextGen analysis. If we look only at the financial aspect, reviews illustrate that Kareo keenly manages the financial side of practices leaving no room for errors. As per the reviews, the billing module of Kareo EHR is beyond perfect. It is everything a medical practice needs to gain end-to-end revenue cycle management services. The reviews depict that Kareo software offers dedicated billing services that align well with the special requirements of healthcare practices. All-in-all, we can tell from the reviews that clients are satisfied with the managed billing services of Kareo.
Kareo MER Billing Pricing
Here comes the most interesting element of the Kareo vs NextGen guide, the pricing structure of the Kareo EMR billing solution. The pricing structure of Kareo is divided into four categories, clinical essentials, billing, pro, and plus. The pro and plus pricing plans are equipped with billing services, too, along with clinical and patient engagement services. They are all-inclusive bundles. But, if someone wants to get their hands on the billing services of Kareo, there’s a pricing plan available for that. No other vendor offers this facility to implement a billing module like Kareo EHR.
Billing Management By NextGen EMR Software
Before diving into NextGen EMR in this Kareo vs NextGen billing module analysis, know that NextGen only offers services for medical practices, not billing companies. Thousands of medical practices rely on the automated billing functionalities of NextGen medical software. But unlike Kareo EHR, it doesn’t offer services for medical billing firms. However, by leveraging out-of-the-world financial services, NextGen wins the heart of care professionals. It features:
- Rules-based charge creation to accommodate patients to the fullest.
- Pre-service financial clearance for optimized workflows
- Claims management to scrub claims faster to lessen the denial rate
- A/R management to reduce the days spent on payment processing
- Financial data analytics to set denial prevention strategies to enhance clinical profitability
- Sets KPIs while automating the bills management process
- Audit recovery
- Dedicated account manager to boost teams effectiveness
The vendor works to improve the financial health of practices leading to improved clinical performance and profitability. It polishes practices to bring forth their true revenue potential. NextGen medical software tends to the complexities of the revenue cycle, making bill handling an easy task for all. Doing so, it assures a 99% first-pass claim rate by eliminating the error-induced elements from the revenue stream. It is indeed a comprehensive medical billing solution for all.
NextGen EMR Software Reviews
The billing aspect of NextGen is even praised in the reviews. The reviews state that NextGen offers a solid billing module that improves the financial health of practices. NextGen’s automated denial management and reporting services are lauded the most in the reviews. There’s even a word in the reviews about how NextGen lowers the cost of its ownership by generating increased profit in less time span. The reviews illustrate that NextGen eliminates financial inefficiencies from the ground up.
NextGen EMR Billing Pricing
NextGen doesn’t offer a separate pricing bundle explicitly for revenue cycle management. Instead, it provides two pricing bundles one is NextGen Office, and the other is NextGen Enterprise. Unfortunately, the price range of these bundles is not mentioned on the web. But from the variation of their feature range, we can say that the enterprise pricing bundle of NextGen is heavily priced and is affordable only to large healthcare organizations.
The Ending Ment
We all know medical professionals seek cost-effective solutions that deliver far more than promised. And NextGen Medical Software and Kareo software meet this criterion. The Kareo vs NextGen analysis illustrates that these platforms feature one-in-a-kind billing modules at a reasonable cost. Kareo suits practices that exclusively need a billing solution as it offers a separate pricing bundle for bill management. As for NextGen medical software, it features comprehensive packages that handle all clinical aspects at once. Assess the needs of your practice and then decide if you need a billing model that integrates with your current EHR or want to shift to an all-rounder platform.
Also, have a look at: Choosing The right Telemedicine Software!