Minneapolis is the most populous city in the state of Minnesota. This means a higher volume of patients and, consequently, a higher volume of insurance claims. Statistics consistently highlight the challenges faced by providers, such as high claim denial rates and prolonged accounts receivable cycles.
According to a source cited in the Journal of AHIMA, almost 20% of all submitted claims are denied. That is a significant financial strain on healthcare practices. So, what is the solution? Outsourcing to specialized medical billing companies in Minneapolis! However, this solution comes with another problem, i.e., how to select the right billing partner for your practice.
We have compiled this guide on the 10 best medical billing companies in Minneapolis, so you don’t have to waste time searching for prospective billing partners. Take a look at our top 10 picks.
Top 10 Medical Billing Companies in Minneapolis
Being the largest metropolitan area in Minnesota (Minneapolis-St.Paul metro area), you can find countless billing companies in this city, each offering a longer list of promises than the next. However, only a handful truly live up to those promises. Among them are our chosen top 10 Minneapolis medical billing companies, as listed below.
1. MediBillMD
A limited number of medical billing companies in Minneapolis offer billing solutions to over 60 medical specialties. MediBillMD is one of them. That is one reason we have put it on top of our list. MediBillMD is a top candidate not just in Minneapolis but across the country. Reason? The company delivers what it promises.
It guarantees less than 30 days in AR, 10-15% revenue increase, a 97% first-pass ratio, and a 98% clean claims rate. These are not just marketing props. Rather, MediBillMD has a proven track record of successfully delivering these results. With full-stack medical billing services that are 100% HIPAA compliant, MediBillMD has become one of the best medical billing companies in Minneapolis.
Key solutions include:
- Medical Claims Processing
- Aging AR Recovery
- Practice Management
- Credentialing
- Denial Management
- Revenue Cycle Management
2. Zmed Solutions LLC
Zmed Solutions brings over eight years of experience serving healthcare providers in Minneapolis and 35 states across the country. What is so unique about Zmed Solutions that we decided to put it in the 2nd place? Well, Zmed offers a free first consultation, supports over 30 billing software, and can boost practice income by up to 20%. That is not all. The company also offers various pricing plans, including a fixed monthly fee, pay-per-claim, and collection percentage.
Zmed Solutions has over 900 happy clients and a 4.7-star rating on Google. This clearly validates their top performance and reliability. Zmed Solutions’ turn-key practice management makes it one of the best medical billing companies in Minneapolis.
Key solutions include:
- Credentialing and Contracting
- EHR, PM & Clearing House Setup
- Electronic Transactions Setup
- Revenue Cycle Management
- Medical Billing and Coding
- Out-of-network Negotiations
3. Silver & Gold Reimbursement Medical Billing Company, LLC
The third-best billing company in Minneapolis on our list is Silver & Gold Reimbursement Medical Billing Company. It offers comprehensive billing solutions designed to provide complete transparency and seamless integration of medical billing expertise with project management and IT support. Like MediBillMD, Silver & Gold Reimbursement also extends its medical billing support to all 50 states.
The company uses Office Ally and Practice Mate. The combined strength of these two software enables the company to receive real-time denials within 1 hour of submission and payment in as little as 14 days. Silver & Gold Reimbursements is also one of the most trustworthy medical billing companies in Minneapolis. Reason? Because it is HIPAA, OSHA, CPB, and Compliance certified.
Main solutions offered:
- Eligibility and Benefits Verification
- Demo Entry and Charge Capture
- Coding Review
- Charge Validation and Claims Transmission
- Payment Posting
- Denials Management
- Credentialing
4. EzMed Professionals
Another top medical billing company in Minneapolis is EzMed Professionals, or EZ MED. Although EZ MED is more focused on credentialing solutions, it has a good track record of providing other related services like EHR implementation and complete revenue cycle management.
Like Zmed Solutions, EZ MED also has a flexible pricing structure. This includes a fixed monthly fee, pay per claim, and collection percentage.
Similar to other companies on this list, EZ MED is also 100% HIPAA compliant and uses advanced EHR and Practice Management (PM) software. The company also claims to provide a 95% average first-pass approval rate.
Main solutions include:
- Credentialing and Contracting
- EHR, PM & Clearing House Setup
- Electronic Transactions Setup
- Revenue Cycle Management
5. Medical RCM Services
Medical RCM Services offers reliable, transparent revenue cycle management solutions tailored for healthcare practices of all sizes. Although the company is headquartered in Scottsdale, Arizona, it maintains a remote office in Minneapolis. With over 25 years of experience, Medical RCM Services is one of the oldest medical billing companies in Minneapolis. The company also guarantees 100% client satisfaction. From specialty providers to mental health practices and hospital systems, everyone can benefit from Medical RCM Services’ offerings.
The company claims to ensure a 15-30% increase in revenue and less than 20 Days Sales Outstanding (DSO) for clients. Medical RCM Services’ denial management is also very efficient. As of now, the company has overturned claim denials amounting to over $150 million.
Key offerings include:
- Medical Billing & Coding
- Patient Engagement
- Contracting & Credentialing
- Medical Record Audits & Requests
- Compliance Monitoring
6. Twin Cities Billing Group
Unlike other Minneapolis medical billing companies, Twin Cities Billing Group is completely women-founded and specifically focuses on mental health billing. Their expertise lies in troubleshooting complex billing issues, streamlining processes, and maximizing revenue for their clients.
Client testimonials praise their responsiveness, persistence with insurance companies, and ability to effectively solve critical and strenuous insurance issues.
Key solutions include:
- Mental Health Billing
- Troubleshooting
- HIPAA Privacy Measures
- Consultation
- Claims Resolution and Payments
- Denials and Appeals
7. Optimal Billing Solutions
Optimal Billing Solutions serves over 50 medical and dental specialties with a co-sourcing approach that provides both on-site and remote billing support. The company has partnerships with many medical institutions and university systems. Optimal Billing Solutions is also affiliated with AAPC, MBA, ADEA, and DBA. These affiliations significantly support its credibility, making it one of the best medical billing companies in Minneapolis.
The company claims an impressive 98% claim approval rate, 28 average days in AR, and a 20% increase in revenue. Real testimonials and a proven track record support these stats. Optimal Billing Solutions also supports multiple software and platforms like AthenaHealth, AdvancedMD, and NextGen.
Main solutions include:
- Revenue Cycle Management
- Medical Billing
- Behavioral Health Billing
- Dental Billing
- On-site Staff Placement for Seamless Integration
- Pre-Authorization Management
8. Minnesota Medical Billing
Minnesota Medical Billing is based in Maplewood, which is just 15 miles east of Minneapolis. However, this does not prevent the company from reliably providing its services in Minneapolis. The company is well-versed in local regulations and prides itself on reducing billing errors, faster collections, increasing profits, and improving patient satisfaction.
Minnesota Medical Billing was founded by Rachel Polski, who has more than a decade of experience in medical billing, credentialing, medical office support, and accounts payable. Her first-hand experience makes Minnesota Medical Billing one of the best billing companies in Minneapolis. Its pricing structure is based on monthly collections, not on what is billed, making it convenient for clients to outsource without worrying about budget constraints.
Key offerings include:
- Medical Billing
- Bookkeeping
- Credentialing
- Consulting
9. Kaleidoscope
Kaleidoscope is also not a local medical billing company. It is based in Bloomington, which is 12 miles south of Minneapolis. Yet, due to its 30+ years of experience (established in 1995) in healthcare billing and revenue cycle management, it is recognized as one of the top medical billing companies in Minneapolis. Kaleidoscope has positive customer reviews on multiple platforms.
The company specifically targets and partners with independent healthcare providers. With their HIPAA compliance and revenue maximization strategies, Kaleidoscope is a strong contender on our list.
Main solutions include:
- Medical Billing
- Revenue Cycle Management
- Credentialing
- Medical Coding and Coding Reviews
- Accounts Receivable Projects
- Office Management and Consulting
10. Health Billings Systems
Health Billing Systems (HBS) is a highly specialized billing company in Minneapolis. By specialized, we mean that the company focuses only on anesthesia management, compliance, and billing solutions. It exclusively serves anesthesiologists and certified registered nurse anesthetists (CRNAs).
HBS is based in Plymouth, Minnesota. However, their services extend to Minneapolis. On the downside, the company does not have a good rating on online platforms, specifically 1 star on Google and 2.7 stars on Indeed.
Key solutions include:
- Specialized Anesthesia Billing for MDs and CRNAs
- Compliance
- Anesthesia Management
Comparing the Best Medical Billing Companies in Minneapolis
The options are endless, but you only have one chance to pick the right company. Choosing the wrong billing partner can make your billing problems even worse. We have done our best to shortlist the top 10 medical billing companies in Minneapolis for you. However, you might be wondering how we selected these companies. Let us ease your curiosity with a quick overview of our methodology.
First, we used Google My Business (GMB) listings to narrow in on all the billing companies in Minneapolis. Next, we dug deeper into each company and analyzed its ratings on Google, Yelp, and GoodFirms. We also evaluated them based on 23 metrics like local presence, number of specialities served, experience, awards, affiliations, and recognition they had acquired over the years.
All of this information was sorted and put into a ranking algorithm. The algorithm analyzed all the metrics and produced the list that we shared in this blog.
