Did you know that practices with in-house billing teams face more problems than those who outsource their billing process? While the healthcare industry in Florida is constantly evolving, the billing challenges are also becoming more complex. It seems almost impossible to satisfy every payer these days.
The average denial rate for in-network claims in Florida was 13% in 2021, a number that has only increased with time due to varying requirements. The best way to tackle this issue is to partner with a third-party billing company. We have compiled a list of the top 10 medical billing companies in Florida so you know your options.
Top 10 Medical Billing Companies in Florida
According to the 2023 Physician Workforce annual report by Florida’s Department of Health, there are nearly 95,000 licensed physicians in this state, a significant increase from the 91,269 reported doctors in the 2022 paper. These figures reflect the growing healthcare sector in Florida. But how many of them receive complete payments for their services?
Most practices have abysmal first-pass claim rates due to persistent billing mistakes. Therefore, numerous physicians across different specialties now rely on billing companies in Florida to secure their payments. If you also wish to reduce your accounts receivable, then choose a reliable name from our list.
1. MediBill MD
MediBill MD has made a quick name in the market despite being a new company. Although it is based in Dallas, Texas, MediBill MD’s nationwide reach enables it to serve numerous practices in Florida as well. The company’s billing solutions, backed by an experienced team and advanced technology, deliver fast and efficient results.
MediBill MD offers various medical billing services in Florida, including coding, filing claims, recovering old accounts receivable, and managing claim denials. The unique thing about this company is that it offers all these services at some of the lowest prices in the market. So, if you run a medical practice in Florida, MediBill MD is the best choice for improving your revenue due to the following reasons:
- It guarantees a 96% collection rate
- It has an impressive 97% first-pass ratio
- It files 98% clean claims
- Quick A/R recovery (less than 30 days)
- It increases revenue by 10 to 15%
2. BillingParadise
BillingParadise ranks second on our list of top ten billing companies in Florida. With over 20 years of experience, this company has empowered over 80 organizations, including public and private hospitals, clinics, and independent practices, to operate without pressure.
Known as revenue cycle experts, BillingParadise offers a variety of AI-powered RCM solutions, such as patient access, coding, automation, and analytics, to hospitals and physicians in Florida. In simple words, it covers the entire revenue cycle of your practice, including front-end, mid-end, and back-end operations. BillingParadise is famous for its large and experienced team. This company is the best choice for upscaling your practice as it provides the following benefits:
- 98% first-pass claim approval rate
- Decreases regulatory issues by 30%
- Low denial rates and high billing efficiency
- User-friendly RCM analytics and KPI tracking tools
- Increases billing and coding accuracy by 70%
3. ACP Billing Services
ACP Billing Services is another good option for outsourcing in Florida. Located in Orlando, Florida, this company offers multi-specialty billing solutions, including end-to-end management of your revenue cycle. The company’s primary goal is to increase the revenues of its partners by decreasing claim denials and improving their productivity.
With a vast team of certified and experienced billing specialists, ACP Billing Services resolves old A/R within 30 days and collects complete payments. The company goes above and beyond to meet varying expectations by offering customized and scalable solutions. So, for timely reimbursements, partner with ACP billing services to optimize your billing process. This leading company is a trustworthy choice for the following reasons:
- Transparent communication
- A wide network of experts
- Effective claim and denial management
- Separate teams for every stage of RCM
- 99% accurate coding
- 13+ years of Medicare and commercial insurance experience
4. Assurance Health Care Financial Services
This medical billing company is another popular choice for outsourcing in Florida. Founded in 2002, Assurance Health Care Financial Services (AHCFS) has become a leading name in this state due to its high-quality billing solutions. The company has a proven track record of improved collections and an experienced team that handles everything, from managing existing electronic health records, editing and filing claims to follow-ups on unpaid services, and sending patient statements.
Assurance Health Care Financial Services stands out from other medical billing companies in Florida due to its consistency. The company has maintained coding and billing accuracy for over two decades. It also offers multi-specialty billing services customized to your needs. You can also streamline your revenue cycle by partnering with this billing service. AHCFS provides the following benefits:
- Cost-savings
- Improved cash flows
- Higher claim accuracy
- No in-house expenses
5. CureMD
CureMD is another viable choice for generating consistent revenue in Florida. This top-ranked electronic medical record (EMR) company can support your growth via a range of tailored billing services. Its innovative solutions are designed to streamline your entire workflow, helping you eliminate revenue leakages.
CureMD assists many hospitals, clinics, and independent physicians in receiving timely payments from insurers by handling their financial tasks, including patient eligibility checks, co-payment collections, and claim appeals. The company guarantees visible improvements within a short time, such as a 5 to 10% increase in collections and minimum claim denials. Moreover, it offers essential tools like KPI dashboards, e-superbills, and more for financial transparency, helping you make better decisions. You can benefit from CureMD’s billing services in several ways:
- Reduced billing errors
- AI-powered billing software
- Easy-to-use platform and tools
- Specialty billing services
6. CareCloud
Are you looking for cloud-based billing solutions? CareCloud is the perfect choice for achieving financial, operational, and clinical success. This American healthcare information technology company uses AI to offer financial healthcare assistance to over 40,000 providers. With nationwide reach, the company also serves many clinics and hospitals in Florida.
CareCloud is recognized for covering more than 70 specialties. It takes a modern approach to billing without sacrificing data security. The company delivers a suite of software and other services, including EHRs, business intelligence, workforce augmentation, and more, to countless healthcare organizations throughout the country, giving them more control. If flexibility is your main priority, choose CareCloud to achieve the following results:
- Maximum profitability
- Modern patient experience
- Better connections with patients via virtual tools
- Data-driven decisions
- Growth through automation
7. EHealthSource
If billing companies in Florida can’t meet your needs, you can always trust a global team of experts. EHealthSource is an off-shore medical billing company with over 15 years of experience. With a professional team of 300 experts, this company covers 22 specialties and is known for its transparency.
The company addresses all types of billing problems, from coding errors to a high volume of claim denials, and simplifies billing for many healthcare organizations in Florida and Texas. EHealthSource is known for delivering top-notch results, significantly reducing outstanding amounts and increasing revenue. You can choose this trustworthy company if you want to:
- Reduce administrative burden
- Maintain proper documentation
- Achieve billing and coding accuracy
- Avoid compliance issues
8. Right Medical Billing
Right Medical Billing (RMB) helps you receive complete reimbursements right on time. Healthcare practices struggle with high denial rates due to the changing insurance requirements and increasing regulations. But with RMB’s 99.9% claim acceptance rate, you won’t ever have to worry about financial losses.
Like other medical billing companies in Florida, RMB manages your entire revenue cycle, specifically focusing on problem areas. The company assigns a team of dedicated experts to manage every aspect of your financial operations, right from the moment a patient walks into your practice to posting payments in the system. The best thing about RMB is that its billing solutions cater to every healthcare organization, including solo practitioners and large healthcare systems. Therefore, they can also be your financial team. RMB is a trustworthy name in Florida because it guarantees:
- 99.9% first-pass rate
- 30% increase in revenue
- Quick turnaround (24 hours)
- A/R reduction within 25 days
9. BellMedEx
Located in Renton, Washington, BellMedEx also offers billing services across the country. Instead of an outdated approach, it implements the latest medical billing and coding practices to satisfy different healthcare organizations across all specialties. BellMedEx specializes in recovering aged accounts receivable and resolving claim issues, particularly claim denials.
The company’s electronic billing services guarantee quick reimbursements, accurate claim submissions, and smooth cash flow, allowing its partners to provide better patient care. With more than 1.2K certified medical billers and coders, BellMedEx helps countless physicians and practices overcome their financial challenges. The company receives a perfect score on our list for the following reasons:
- Secures complete payments without unfair cuts (increases revenue by 30%)
- Successful appeals
- Almost 99% clean claim ratio
- 97.35% first-pass rate
10. Precision Medical Billing
Do you want to recover every cent you are owed? Precision Medical Billing (PMB) can help you with that. PMB might be the final name on our list, but it does not mean it offers any less value. With tailored solutions and a team of experienced billing specialists, the company makes sure that its clients earn what they deserve for their services. PMB effectively manages billing complexities and knows everything about Medicare, Medicaid, and private insurance policies.
The company’s billing services are designed to eliminate inefficiencies, including inaccurate patient information, poor follow-up and documentation practices, lack of automation, and coding errors. PMB follows a systematic process to file clean claims and maintain regulatory compliance. They ensure coding and billing accuracy by billing from their clients’ existing EHR or EMR software. You can receive the following benefits if you partner with them.
- Improved billing accuracy
- Round-the-clock support
- Proactive billing solutions
Our Methodology: Choosing the Best Medical Billing Companies in Florida
We did not randomly pick the top 10 names on our list, nor did we choose the first 10 medical billing companies in Florida that appeared on Google’s search result page.
Instead, we took a strategic approach and considered the following factors to identify the most reliable medical billing companies in Florida.
Industry Experience & Expertise
The best billing companies are only those that can expertly tackle the intricacies of medical billing across multiple specialties. In addition to assessing the number of years each company has been in the industry, we also evaluated their industry-specific knowledge, including how well they manage varying requirements.
Regulatory Compliance
You can get into serious trouble if you don’t adhere to federal and payer regulations, including maintaining patients’ data privacy and filing clean claims. Therefore, we only selected the medical billing companies in Florida that comply with insurance companies and HIPAA standards.
Reputation & Customer Reviews
Almost every company claims to be the best in the industry. However, customer reviews show their actual performance. Therefore, we also considered client feedback and testimonials to gauge each billing company’s satisfaction levels, reliability, and reputation in the industry.
Use of Technology
Let’s be realistic! We are living in the age of technology. So, why choose a company with outdated and error-prone practices? Therefore, we evaluated the technological capabilities of each billing company and selected only those that offer advanced billing solutions. All of our top-rated medical billing companies in Florida either provide their own EHR software or can easily integrate with their clients’ existing systems.
Cost & Value
It is common knowledge that affordability does not guarantee valuable services. We know that a company with inexpensive billing solutions might not deliver the desired results. Therefore, we compared each company’s pricing structure with the value they provide in terms of billing efficiency, dedicated support, and return on investment.
Bottom Line
Instead of stressing over unresolved claims and unpaid services, choose a billing partner that not only meets but also exceeds your expectations. Florida has a booming healthcare industry. Therefore, you can find numerous billing companies in this state.
However, don’t fall for their claims and choose the first appealing option. Take a moment to review our list and pick an appropriate billing expert. Improve your practice’s revenue and grow without any fear!
