If the complexities of medical coding are keeping you awake at night, it is time to look for a reliable partner.
Medical coding and billing is a highly profitable industry. In 2024, the medical coding market size is nearly $22.69 billion, and it is projected to reach $35.63 billion by 2029. The revenue opportunity in this sector has drawn several key players who target healthcare organizations with their innovative coding solutions.
In this listicle, we will discuss the 10 best medical coding companies that have made their mark in 2024 to help you pick the best one for your healthcare organization’s needs.
Top 10 Medical Coding Companies in 2024
The 10 best medical coding companies in the USA are revolutionizing healthcare with their innovative solutions. Equipped with a team of certified professional coders (CPCs) and using robust medical coding and billing software, these top 10 companies offer industry-compliant medical coding services with the fastest turnarounds.
Let’s look at their details to understand how they have found the perfect balance between cost and quality to offer value-added solutions at reasonable rates.
1. MediBill MD
MediBill MD, established in 2023, is one of the best companies for medical coding out there. It offers comprehensive medical coding, billing, and revenue cycle management (RCM) services to over 45 specialties nationwide.
The company employs a team of highly skilled professional coders who work around the clock to submit accurately coded medical claims for fast reimbursements and revenue upticks. They claim to offer a 95% first-pass clean claims rate, especially preventing denials that result from incorrect coding.
MediBill MD is HIPAA-compliant, ISO-certified, and is a member of the American Academy of Professional Coders (AAPC).
Although a detailed pricing chart is unavailable on its website, from the FAQs, it can be seen that the company takes 2-5% from net collections. There are several ways to get in touch with the MediBill MD representatives, including filling out a ‘Let’s Connect’ form.
2. NextGen Healthcare
The second company on our top 10 medical coding companies list is NextGen Healthcare. Formed in 1974, the company offers innovative solutions in health IT. Its integrated electronic health record (EHR) system is ranked No. 1 by Black Book Research.
The company builds custom tech solutions, including an AI ally, for specialties of every size (small to enterprise practices). Some of its highly sought-after services are specialty-based medical coding, practice management, revenue cycle management, analytics and reporting, and interoperability through Cloud Connect.
NextGen ensures effective medical coding support through certified coders, automated charge review, coding compliance audits, staff training for coding excellence, and more.
It is unclear what NextGen charges for its professional medical coding or the use of its automated coding tools. But you can schedule a demo for details.
3. AdvancedMD
AdvancedMD’s cutting-edge coding software has helped it rise through the ranks in our 10 best medical coding companies list. Since early 2000, AdvancedMD has offered integrated healthcare systems over Cloud technology to enable practice management, patient engagement, and business reporting and analytics.
Today, the company maintains records of more than 40,000 practitioners and 850 billing service clients. In 2021, it rolled out its AMA-aligned E/M coder for automatically and accurately coding office and outpatient encounters.
Moreover, its powerful coding tools and software allow providers to view codes by specialty, diagnosis, procedure, or number, helping them pick the right code instantly. Its comprehensive coding software includes all CPT, ICD-10, and HCPCS codes along with their modifiers, saving you from the hassle of manually looking up codes in books or the web.
You can visit the AdvancedMD website to build a custom bundle or request pricing for software and RCM services.
4. Optum
Optum is a new entrant in our ‘top medical coding companies’ listicles. The company was established in April 2011 in Eden Prairie, Minnesota, and since then, it has expanded to Brazil, India, Ireland, and the UK with a global workforce of 310,000.
Along with RCM services, Optum offers medical coding and documentation services and coding and CDI technology to healthcare providers. Its CDI 3D technology is a computer-assisted coding tool for enterprise practices and is powered by Clinical Language Intelligence to offer accurate code suggestions.
Moreover, Optum claims speedy revenue recovery through automated and streamlined workflows and thorough documentation.
You can read the success story of John Muir Health, posted on Optum’s website, to see how its revolutionary automated coding solutions are being implemented in the healthcare space. To get in touch with Optum’s sales team, you must fill out a form.
5. Kareo
It is impossible to talk about the top-performing medical coding companies in the USA without naming Kareo. Based in California, Kareo has been in operation for over 20 years. It has evolved to become more than a cloud-based platform.
Under the banner of its medical coding offerings, the company provides claim scrubbing and code check solutions to ensure that the claims comply with the ever-changing government and insurance companies’ regulations.
Its medical coding software seamlessly integrates with the charge entry process to identify coding errors in real-time and validate ICD-9, CPT, HCPCS codes, and local and national coverage decisions (LCD/ NCD).
You can visit its website to watch a demo, read reviews, see pricing details, or sign up for the service.
6. CareCloud
CareCloud is a leading medical billing services provider, catering to the needs of more than 40,000 healthcare organizations in the USA. We have included it in our list of top 10 medical coding companies because of its HIPAA-compliant, accurate coding procedure.
With over 20 years of industry experience, CareCloud assures 97% accuracy in medical coding and reduces the AR rejection rate to just 4%. Its well-curated coding process includes patient verification, precise data entry, accurate code entry, and multiple rounds of audits.
CareCloud leverages expertise and real-time analytics to streamline coding and billing workflows, decrease the claim denial rate, and ensure faster reimbursements.
The company has not mentioned the fee for using its all-in-one platform. However, you can schedule a demo to learn the price details.
7. CureMD
CureMD is another renowned health information management systems provider in our best medical coding companies list. The New York-based firm was founded in 1997 and rapidly became an intercontinental medical billing software provider with over 1,400 employees.
CureMD’s diverse product and service portfolio includes telehealth, specialty EHR, AI, and medical billing solutions. Through its tailored and accurate medical coding, healthcare organizations can reduce overhead costs by 40% and increase annual revenue by 35%.
Its certified coding specialists use advanced algorithms and integrated EHR systems to audit and edit claims in real time. Precise coding allows their clients to prevent claim denials, secure timely reimbursements, and enhance revenue cycles. From automated claims generation to data analysis and decision-making, CureMD offers all.
You can fill out a request form to get the latest pricing.
8. Athenahealth
Athenahealth is another highly reputable medical coding company in the USA. As a cloud-based healthcare software and services provider, the company leverages advanced technology to optimize record sharing, streamline workflows, and offer accurate medical coding support for higher net collections.
The firm’s copyrighted medical coding product is called athenaOne®. The integrated system is HIPAA-compliant and used by certified coders to clear backlogs, leading to faster claims submissions and rightful reimbursements.
You can read the case study of The Village Pediatrics posted on the Athenahealth website to see how the coding time was reduced by 50% and after-hours coding was eliminated.
You will have to contact the company representatives for the price of athenaOne® and related solutions.
9. Cerner by Oracle
Cerner, now a subsidy of the Oracle Corporation, was rebranded as Oracle Health in 2022. It aims to use data-driven intelligent tools to create an open healthcare platform where providers, payers, and public health organizations can connect for quality healthcare.
From generative AI to comprehensive EHR systems, Oracle Health is unleashing innovation to reduce medical coding and billing processes. Its algorithms provide “ timely, predictive, and actionable” insights, helping healthcare practices boost their revenue cycles and achieve financial success.
Oracle Health’s health IT and management solutions are available across dozens of specialties. You can contact the company over a call or via email to request pricing.
10. AGS Health
The last one on our 10 best medical coding companies list is AGS Health. It claims to be an end-to-end revenue cycle management solutions provider, using intelligence automation to improve revenue cycles.
AGS Health’s workforce includes 3,000+ coders, who code more than 46 million charts annually and process nearly $50 billion in accounts receivable. Moreover, around 1,800 of its coders are AAPC and AHIMA-certified.
The company offers medical coding in three categories – risk adjustment coding, facility coding, and professional fee coding. You can explore its range of solutions to reduce inaccuracies like over-coding/ under-coding and reduce denial rates by 20% for prompt reimbursements.
For more details on pricing, you can request a free consultation from RCM experts at AGS Health.
Choosing the Best Medical Coding Company: Things to Consider
Cost
The cost of hiring a professional medical coding company should always be lower than maintaining an in-house medical billing department. Choose a firm that offers professional medical coding or bundled services at reasonable rates.
But at the same time, you should not compromise on the quality of the service. Look for a medical coding firm that offers a good balance between cost and quality, helping you scale up with the smallest investment.
Compliance
When selecting a medical coding company for your healthcare organization, you must pay close attention to the compliance certifications.
A company that is HIPAA-compliant, ISO-certified, and diligently adheres to government rules and regulations can save you from legal suits and financial penalties.
Tech Software
Tech-driven medical coding and billing are increasingly becoming a norm in the healthcare space. A medical coding company that has developed its intelligent coding products (tools and software), or is comfortable using licensed products from third parties can help you get more done in less time.
Integrated EHR systems, auto-coding software, and validation tools can help you streamline the workflow, adding extra layers of checks at every stage.
Transparent Processes
The last thing to look for in a professional medical coding company is that its processes should be transparent, and the team should maintain effective communication with the healthcare providers and insurance payers.
Preferably, look for a company that assigns a dedicated CPC to you and allows you to track the progress on a client portal.
Bottom Line
The top 10 medical coding companies in the USA are using a tech-human hybrid to submit thousands of accurately coded medical claims for timely reimbursements. They understand that minor coding errors lead to claim denials, and the process of appealing the verdict is time-consuming and costly.
The 10 best picks in our listicle leverage advanced database management systems, intelligent coding, and data analytics software to submit error-free claims for an optimized revenue cycle. They have years of industry experience, a highly trained and certified workforce, and proven medical coding experience to offload the burden from healthcare organizations, helping them focus on quality patient care.
When choosing one of these professional medical coding companies, ensure that they are particular about compliance and stay abreast of the changing regulations, employ cutting-edge technology, guarantee a transparent workflow, and suit your budget.
