Is billing a tedious task for your administrative staff? In-house medical billing teams often fail to accurately record the rendered services, leading to errors in medical claims and high denial rates.
Illinois has one of the best healthcare systems. Yet, according to KFF, 10.1% of Illinoisans face medical debts due to a lack of insurance and high out-of-pocket costs. As a result, hospitals in this state face a high risk of bad debt, which can disrupt their operations and lead to bankruptcy.
Are you in the same boat? Explore the top 10 medical billing companies in Illinois and minimize your losses.
Top 10 Medical Billing Companies in Illinois
Did you know that Illinois is one of the best states for outsourcing? According to All Allied Health Schools, it is the fourth-best state for billers and coders due to high employment opportunities. You can find almost 5,000 (4,970, to be exact) experienced professionals and numerous medical billing companies in Illinois.
But do you have the time to review each of them? To simplify your job, we have compiled a list of the 10 best medical billing companies in Illinois that you can trust with your billing process.
1. MediBill MD
Although MediBill MD is not a local company, it is the best option for managing your revenue cycle. Based in Dallas, Texas, MediBill MD has a wide network, which enables it to operate nationwide. Hence, you can also partner with its experts to revive your practice in Illinois.
You might be wondering why we have placed it at the top of our list. The reason is quite simple – it provides the best value among other options. In simple terms, MediBill MD offers customized medical billing services across more than 45 specialties at affordable rates.
Moreover, it has recently introduced an impressive promotional flat 1% rate for the first month of service. So, new customers in Illinois can get complete medical billing solutions, including insurance verification, coding, claim submission, and payment posting, at the lowest costs in the market. In addition to that, MediBill MD provides the following benefits:
- Scalable and customized billing solutions
- Access to AAPC-certified coders
- HIPAA-compliant services
- 98% clean claim rate
- 97% first-pass ratio
In short, MediBill MD is one of the best billing companies in Illinois for practices with a tight budget. The most admirable thing about this company is that it does not compromise on quality to maintain affordable rates.
2. Physicians Revenue Group
With headquarters in Downers Grove, Physicians Revenue Group (PRG) is one of the top revenue cycle management companies in the country. Its all-inclusive billing solutions allow numerous healthcare organizations to attain desirable financial outcomes in 48 states.
The best thing about this multi-specialty billing company is that it is versatile and serves all types of practices, including independent, single, and multi-purpose practices, hospitals, nursing homes, and emergency centers. As a result, thousands of clinicians and individuals from all across the US trust PRG for its uncompromising quality of services.
One of the key strengths of this leading medical billing company in Illinois is its ability to accelerate your growth while maintaining financial stability. The best part about PRG is that its billing solutions are 100% compliant with all the important regulations, including the Merit-Based Incentive Payment System (MIPS) and the Medicare Access and CHIP Reauthorization Act (MACRA). You can trust PRG for the following reasons:
- Over 15 years of experience
- $1B+ total billed charges
- 99% first pass resolution rate (FPRR)
- Serves over 350 practices and more than 750 providers
- More than 1,500 experienced employees
The company offers billing solutions across 50+ specialties so you can choose them without any problem.
3. I-Med Claims
With over 2,500 employees, I-Med Claims is also one of the top medical billing companies in Illinois. This medical billing and revenue cycle management company has the numbers to justify its position on our list.
Located in Oakbrook Terrace, a city in Illinois’ DuPage County, I-Med Claims has helped more than 100 practices in the country to revive their revenue. Its full-scale RCM solutions include eligibility verification, medical billing, auditing, denial management, accounts receivable, and credentialing & enrollment.
The company covers more than 50 medical specialties, including cardiology, ophthalmology, urgent care, and nephrology, and maintains affordability with low billing rates. For just 2.95% of your total collections, I-Med Claims pays special attention to all the financial details of your practice to speed up your reimbursements. The company guarantees 3x faster payments and maximum collections. With I-Med Claims, you can enjoy:
- Less than 1% claim denials
- Quicker payments with 99% claim acceptance rates
- Minimum billing errors
- Improved and continuous cash flow
So, whether you own a healthcare clinic or a nursing home, I-Med Claims can help you avoid low collections and bad debts. It is an ideal choice for private medical practices.
4. American Medical Billing, Inc.
This veteran-owned, local medical billing company secures the third spot on our list. American Medical Billing, or AMB for easier reference, offers comprehensive billing solutions to healthcare providers in Illinois. Headquartered in Roselle, Illinois, AMB has been making waves in the medical billing industry since 1994.
The best thing about AMB is its dedicated support. The company takes complete interest in your success, prioritizing your needs and staying in continuous contact so you can focus on your patients without any distractions.
AMB’s portfolio of medical billing solutions includes electronic claims transmission, primary, secondary, and tertiary paper claim submissions, soft collections, appeals, credentialing, and detailed reports. AMB is one of the top-rated medical billing companies in Illinois and a popular choice of countless practices due to the following reasons:
- Improved cash flow due to faster payments
- Prompt notifications for rejected claims (within 48 hours)
- Timely submissions and proactive follow-up
- Billing accuracy
- Detailed monthly and yearly performance reports
So, if you need a reliable partner in Chicagoland or northern Illinois, you can trust AMB with your billing requirements. The company tailors its fee schedule according to your needs.
5. iCare Billing
Are you looking for a company whose offerings can easily integrate with your existing systems? iCare Billing is the answer to your compatibility concerns. This American healthcare IT company, based in Chicago, Illinois, provides interoperable administrative solutions, such as medical billing, revenue cycle management (RCM), practice management, and insurance credentialing.
In simple words, its solutions can work on any electronic health records (EHR), electronic medical records (EMR), or billing software in the country. Hence, you don’t need to migrate to any other software. As a result, iCare Billing is not only one of the best medical billing companies in Illinois but also in the USA. It maximizes countless practices’ EHR potential and empowers them to take control of their revenue. In short, iCare Billing facilitates:
- Cost-effective RCM strategies
- Maximum insurance reimbursements
- Better and smart business decisions
- Faster collections
So, if you are searching for a compatible and specialty-focused billing and coding company, contact iCare Billing for effective claim submissions, denial management, and practice analytics.
6. Medical Solutions 360
We all know that only experienced medical billing companies in Illinois can guarantee the smooth operation of your financial process. Medical Solutions 360 is the company you should look at for reliable assistance. With over 10 years of combined experience, Medical Solutions 360 expertly guides multiple clinics and hospitals in Illinois toward successful billing practices and strategies.
Medical Solutions 360’s comprehensive billing solutions, including medical coding, patient registration and collections, appointment scheduling, remittance processing, claim submissions, and third-party follow-ups, significantly improve your profitability by a significant margin. Besides managing your revenue and practice, the company also offers healthcare digital marketing solutions, scribes, and virtual assistance to reduce the administrative burden and risk of costly errors. To summarize, this business processes outsourcing company guarantees:
- Peak financial performance
- Maximum transparency with intelligent data insights
- More than 20% denial overturn rate
- Minimum revenue leakage
So, if you want a knowledgeable team to handle the financial aspects of your practice, Medical Solutions 360 is the suitable option. Their team combines their experience with cutting-edge solutions to bring transformative results.
7. Providers Care Billing LLC
Providers Care Billing (PCB) cares for your billing issues so you can care for your patients. Based in Schaumburg, Illinois, Providers Care Billing is another renowned name on our list. With 99% satisfied clients, this leading medical billing company in Illinois specializes in managing your complete revenue cycle. In simple words, it covers every step of your financial process, from patient arrival to payment posting.
PCB provides comprehensive billing solutions, like medical coding, A/R management, out-of-network negotiations, patient billing, and credentialing to over 2,000 healthcare providers. Its diverse billing team optimizes revenue by implementing several billing and coding audits and expertly managing claims and denials.
This company promises financial stability among growing claim rejections through timely submissions and persistent follow-ups. Providers Care Billing has many remarkable qualities, but it mainly stands out due to the following reasons:
- 98.7% first-time pass rate
- No long-term commitments
- Offers 30-day trial to mid-sized practices
- Affordable billing services at 2.89% rates
In short, PCB can address all your billing challenges. Unlike other medical billing companies in Illinois, PCB goes the extra mile for your practice. Besides handling your billing tasks, it also offers extensive training to your staff so they can provide exceptional care to patients.
8. AccuBilling
Situated at Hoffman Estates, a village in Illinois’ Cook County, AccuBilling is another viable option for outsourcing. It is one of the top-rated medical billing companies in Illinois simply because it goes above and beyond traditional measures to deliver exceptional value. With a strategic business framework and precise billing process, AccuBilling specializes in maximizing returns while reducing overhead costs.
In basic terms, its billing solutions, such as end-to-end RCM, medical billing, coding, and credentialing, help your practice recover every dime owed at affordable prices. The company’s expert coders accurately translate your medical services into precise ICD-10 and CPT codes. Moreover, its professional billers guarantee timely claim submissions with a 99% approval rate.
AccuBilling’s commitment to complying with HIPAA regulations and taking necessary steps to protect your sensitive information further proves its reliability. To sum up, AccuBilling is a popular billing company in Illinois for the following reasons:
- Transparent and affordable rates (starting as low as 2.5% of total collections)
- 2x faster claim management process
- Industry experience (over 20,000 billed claims and 20M+ received in collections)
- Covers 50+ specialties
In essence, AccuBilling empowers healthcare providers to save and succeed. It ensures maximum revenue with dedicated account managers and advanced claim-scrubbing techniques.d. It ensures maximum revenue with dedicated account managers and advanced claim-scrubbing techniques.
9. Premier Medical Billing Services
Premier Medical Billing Services (PMBS) is another billing company you can rely on in this state. Based in Warrenville, Illinois, PMBS has over 25 years of industry experience. Hence, it has the knowledge and expertise to address evolving requirements and billing challenges. But do you know why it stands out as a notable option?
PMBS is on our list of top 10 medical billing companies in Illinois because of its specialized expertise in specific healthcare domains such as mental health, family practice, chiropractic, and PT/OT/ST. Like others in our list, the company also offers full-scale billing management solutions, covering everything from claim submissions to revenue collections. PMBS employs advanced revenue recovery strategies that close gaps within your billing process.
Simply put, PMBS can minimize your administrative burden by managing patient statements, EFT/ERA enrolment, and appointment scheduling. You can choose this company for the following reasons:
- Specialized medical expertise
- Old A/R recovery
- Complete billing management
- Personalized administrative support
PMBS may not cover all the specialties, but its customized billing offerings and support make it a reliable choice for many mental health and chiropractic practices in Illinois. However, don’t forget to visit its website to confirm if PMBS covers your specialty.
10. Physician Revenue Solutions
Physician Revenue Solutions (PRS) has a remarkable reputation to be considered as one of the top medical billing companies in Illinois. Based in Lombard, a village in Illinois, PRS operates under the leadership of its founder, Bart Nowak – an MBA graduate in Healthcare Management from Chicago’s Loyola University.
The company excels in physician medical billing due to the extensive experience of its employees and the CEO’s deep understanding of the best and latest revenue cycle management practices. PRS tailors its solutions, including fee schedule assessment, management, coding, credentialing, reporting, and revenue cycle consulting, to fit diverse needs.
With a proven track record of success, PRS guarantees exceptional results and dedicated support. Hence, it is a trusted partner of countless practices and physicians in Illinois. You can also choose this company for the following benefits:
- Financial stability
- Access to a dedicated billing team
- Increased profitability and productivity
- Optimized collection process
As you can see, PRS can be your partner in success. The company works closely with its clients to meet their goals and objectives.
Comparing the Best Medical Billing Companies in Illinois
Illinois houses numerous billing companies due to employment opportunities and a flourishing healthcare system. After analyzing several factors, including industry experience, reputation, costs, and customer reviews, we have tried to simplify your selection process by shortlisting the top 10 medical billing companies in Illinois.
Compare these companies on several key components to find the most suitable partner for your healthcare practice in Illinois. But before this, you should ask yourself, why are you outsourcing your billing process? Is it to improve your revenue? Or to reduce claim denials? Or for growth? After that, revisit our list of top 10 medical billing companies in Illinois to choose the most suitable one for your needs.
List down the names you think are best for your practice and then compare their track record, specialization in medical billing, and costs. We recommend choosing companies who are transparent about their pricing and have high first-pass resolution rates (FPRR). You can also assess our recommendations on the level of support and customer service. A reliable medical billing company in Illinois will have a dedicated support team and provide regular reports to keep you in the loop. Additionally, check their solutions’ compatibility with your existing systems.
Ultimately, selecting the best medical billing company in Illinois depends on your requirements. Choose the option that offers the best balance between performance, expertise, and support. Remember that while the options with the lowest prices may seem appealing, prioritize the ones with the best value. In simple words? Pick companies that maximize your revenue.
