Have you ever wondered how other practices achieved their current revenue growth? Well, they all have one thing in common – an efficient billing process. As the fourth most populated state in the country, New York has over 261 active hospitals. However, complex insurance regulations, high workload, increased scrutiny from payers, and, most importantly, a large patient population increase billing complications.
Private practices and medical centers seek the assistance of medical billing companies in New York to resolve this issue and prevent insurance reimbursement rejections. Luckily, the Empire State has nearly 356 medical billing businesses, the highest in the country.
Are you also frustrated with inconsistent revenue? The right billing partner can help you overcome all your problems. Read on to discover 2024’s best medical billing companies in New York state.
Top 10 Medical Billing Companies in New York
A large portion of New York’s population has one or two public or private health insurance plans. According to the New York State Department of Health, more than 9 million New Yorkers are collectively enrolled in Medicaid, the Essential Plan (EP), and Child Health Plus (CHPlus). Additionally, nearly 13.5% of residents rely on Medicare.
With such a large volume of insured patients with varying coverage plans, each with its own set of conditions, many healthcare practices find it overwhelming to claim reimbursements on the first try. That’s why you can find numerous medical billing companies in New York. Instead of getting frustrated with never-ending names, trust our list to find the most suitable option.
1. MediBill MD
Maintaining an in-house billing team can drain your finances. MediBill MD saves you from this problem by not only improving your revenue cycle but also by offering incredible savings. That’s why it is the first name on our ‘Best medical billing companies in New York’ list. Although based in Texas, MediBill MD helps multiple New York practices overcome billing complications through its nationwide reach.
From patient registration to payment posting and follow-ups, its medical billing services in New York cover every step of your billing process to maximize your revenue. The company understands local healthcare regulations and significantly reduces your claim denials.
MediBill MD offers the following benefits:
- Flat 1% rate for the first month of services
- Billing solutions across 45 specialties
- Proven track record (97% first-pass ratio and 96% collection rates)
2. iRCM, Inc.
While iRCM is the second name on our list, it is one of the best local medical billing companies in New York. Located in the most populated borough of New York City, Brooklyn, this company offers AI-powered billing solutions, such as medical billing, credentialing, claim processing, and denial management, to streamline your revenue.
With an experienced team of consultants and coders, iRCM efficiently deals with the complicated healthcare landscape of this state, including local regulations and varying insurance requirements. This billing specialist empowers you to gain greater control over your financial health. Want to stay on top of the ever-changing healthcare industry?
Choose iRCM for the following reasons:
- Intelligent and adaptable billing solutions across 32+ specialties
- Personalized advice
- Advanced analytics and reports
3. HMS USA LLC
HMS prioritizes quality over everything. Located in Floral Park, a village on Long Island, this company guarantees 100% customer satisfaction through proactive billing, quicker reimbursements, and lower administrative costs. Like all the top-rated medical billing companies in New York, it also tailors its offerings to your unique needs and provides credentialing and coding solutions along with a quality improvement program.
HMS manages the revenue cycle of its clients across 38 specialties and handles everything with extreme precision, including patient registration, insurance verification, charge capture, and claim submission. Additionally, it complies with all state-specific regulations, helping you avoid legal consequences.
So, if you are looking to boost your revenue, partner with HCM for the following benefits:
- 25% cost reduction
- 99% billing accuracy
- 25% revenue increase
- 99% first-pass rate
4. Sunknowledge Services, Inc.
Looking for a DME billing specialist in New York? Sunknowledge is an excellent option. Located in the heart of New York City, it is a leading Business and Knowledge Process Outsourcing (BPO) company in the healthcare industry. In addition to DME, the company offers customized billing solutions to more than 30 specialties, including cardiology, radiology, urology, acute care, and specialty pharmacy.
Sunknowledge is one of the best medical billing companies in New York because of its unmatched knowledge and 17 years of experience. It addresses your changing needs and reduces compliance issues by keeping up with global security standards. Still unsure about Sunknowledge?
Here are the following reasons why this American-owned and operated company is a trusted partner of many practices in this state:
- Complete HIPAA and HITECH compliance
- Excellent multi-payor insurance knowledge
- Guarantees faster approvals
- ISO 27001:2022 certified company
5. MD Syhealth LLC (SybridMD)
Searching for a company that frees you from time-consuming billing tasks? MD Syhealth LLC, operating under the public name SybridMD, gives you the freedom from endless insurance calls, paperwork, and frustrating patient billing. The company remotely handles all your financial operations with remarkable accuracy and stands out as one of the best medical billing companies in NY.
Founded in 2009, SybridMD has grown its expertise in over 37 specialties, including cardiology, urology, psychiatry, podiatry, and dermatology. This full-service billing company specializes in front-office management, medical billing, coding, and credentialing and serves over 100 practices in 22 states. It follows a mixed delivery model, combining offshore and onshore billing resources for excellent results.
In short, it is an ideal choice for growing your practice since it offers:
- Cost-effective and secure billing solutions
- Accurate medical transcription
- 24/7 dedicated support
6. VB Billing
An experienced billing company, like VB Billing, can take your practice to new heights. With 25 years of industry experience, the company has dedicated 7 years to efficiently managing the financial operations and growth of high-end medical wellness centers. As a result, VB Billing has developed specialized expertise in addressing unique financial needs across 9 specialties.
VB Billing is known as one of the top 10 medical billing companies in New York due to its growth mindset. The company’s comprehensive suite of billing solutions, such as coding, denial management, staffing, credentialing, and follow-ups, focus on achieving measurable outcomes.
By partnering with VB Billing, you can:
- Optimize your business goals.
- Secure timely payments
- Get access to free EHR and medical billing software (Myriad Health)
7. Top Notch Billing & Management Services, Inc.
Is your chronic care management practice struggling with billing errors and payment delays? We have the perfect partner for you! Located in the diverse neighborhood of Rego Park in the central part of Queens, Top Notch Billing & Management is one of the premier local medical billing companies in NY. With over 6 years of industry experience, it is committed to offering personalized billing solutions designed to meet your unique needs, including prompt electronic or paper claim submissions.
Top Notch specializes in Chronic Care Management (CCM) and Remote Patient Monitoring (RPM). It optimizes reimbursement opportunities through an efficient claim submission process, several audits, and accurate payment postings. Additionally, Top Notch provides comprehensive credentialing assistance, reducing your administrative burdens.
By choosing this company, you can:
- Submit your claims within 48 hours
- Receive excellent administrative support
- Improve patient satisfaction
8. ADO Billing Services LLC
ADO Billing’s tagline, “Your Specialty is Our Specialty,” reflects its customer-centric approach, which justifies its position as one of the best medical billing companies in New York. Since its establishment in 2014, the company has made a significant name in the market due to its innovative approach.
ADO Billing’s offerings, such as claim submission, insurance follow-up, and appeals, are designed to not only meet but exceed the needs and requests of its clients. The company provides free consultation to understand your current position and then devises a plan to minimize your claim denials. ADO Billing, located in Queens’ commercial and residential neighborhood, Richmond Hill, is an excellent choice for outsourcing in New York because it offers:
- Open communication throughout your billing
- Fast and efficient claim submission process
9. Barbara Young Medical Billing Services
Barbara Young is another prominent billing company on our list. As an accredited member of the American Academy of Professional Coders (AAPC), the American Medical Billing Association (AMBA), and the American Institute of Revenue Cycle Management & Placement Services, it guarantees exceptional billing accuracy and results.
With a special focus on surgical billing, Barbara Young has a diverse team of specialists trained in all aspects of the billing process, from coding to claim submission. The company ranks among the top-rated medical billing companies in New York due to its industry expertise. In fact, it is the only medical billing company on Staten Island with extensive experience – over 20 years in the field. Want to maximize your revenue?
Choose Barbara Young for the following reasons:
- Quick reimbursements (within 7 to 14 days)
- 100% first-pass claim rate
- Advanced billing software for weekly reports and tracking claims.
10. Altair Medical Billing
Just because Altair Medical Billing is the last name on our list doesn’t mean it is the least valued company. It is, in fact, recognized as one of the best medical billing companies in New York. In addition to its office in Dallas, Texas, this company also has a presence in Long Island, New York.
Altair takes a customized approach to medical billing, offering end-to-end billing solutions tailored to meet the specific demands of each practice. It identifies revenue leakage through detailed audits and guarantees compliance with all relevant industry regulations. Altair is a trustworthy name for outsourcing due to its transparency and efficient data management, providing 24/7 access to all details.
In short, it is a great option for making your practice more profitable due to:
- A 45-day revenue cycle
- Quick EHR/EMR implementation
- Adjustable auditing costs
Comparing the Best Medical Billing Companies in New York
As we mentioned before, the options for medical billing companies in New York are endless. You can easily get lost in a sea of names that make bold claims, such as improved revenue within a month. However, in reality, only a few companies have a proven track record of success. So, how can you avoid businesses with false promises? The answer lies in a comprehensive comparison.
We have simplified one step of your selection process by listing the top 10 medical billing companies in New York. The rest is up to you! Review our list and compare the costs, industry experience, covered specialties, certifications, and customer reviews of the options you find most appealing. Choose the company that aligns best with your practice’s values.
