Software Advice has compiled a report based on their interactions with buyers. The report addresses what buyers are looking for in their medical billing software and why they’re seeking out new solutions. 13% of prospective buyers are using manual methods for billing and want to switch to a software solution, while 38% already have billing software and are looking to replace it. The complete report can be found on their website. View Software Advice’s Medical Billing Page for more information.
When asked what their top reasons for replacing their current solutions:
- 19% of the total sample stated compliance with new regulations as their top reasons for replacing their billing software.
- 17% were looking to make the transition from paper to digital billing.
- 15% felt their current system was outdated.
The report notes that only 5% of buyers named needing ICD-10 codes as a top reason, though the deadline to comply is approaching in October 2015.
Mobile billing has increasingly become a sought-after feature. 21% of the sample stated mobile access as a major factor in their decision. Surprisingly, despite the many mobile apps for fitness, health, money transfers, etc., it hasn’t completely been integrated. The second most requested feature was claim scrubbing (16%) and third was eligibility inquiries (15%), both of which would be beneficial in dealing with insurance issues.
Another consideration for buyers is an integrated suite, such as one that incorporates EHRs, practice management, and medical billing into one package. 87% of buyers reported that they would prefer an integrated suite. Meanwhile, only 1% preferred using multiple products for their needs.
Author: Apoorva Anupindi