Therapy Billing System Solutions for 2024

Whether you work at a billing company or medical clinic, medical billing involves several administrative responsibilities that can be monotonous and time-consuming. That's where PT billing software comes in. Therapy billing software manages and simplifies the billing process, making it more efficient.

An efficient therapy billing software can automate pre-authorizations, claim approvals, and follow-ups and significantly reduce billing errors, helping your business considerably reduce AR cycles, improve cash flow, and save on countless hours of admin work

However, with several software options available, choosing the right billing software for PT clinics can be time-consuming. Therefore, we have identified various examples of medical billing software and curated a list of the ten best options to help streamline your business needs. 

To help you make an informed decision, let's first explore what medical billing software is and why it's essential for your practice.

What is Therapy Billing Software?

Therapy billing software streamlines billing for physical therapy practices by automating tasks like insurance verification, claim submission, and payment posting. This reduces manual work, allowing therapists to focus more on patient care.

It also improves revenue cycle management (RCM) by reducing errors, speeding up collections, and ensuring timely claims, leading to better cash flow and fewer denied claims.

Modern therapy billing software offers real-time analytics, providing insights into financial performance. This helps practices make informed decisions, track revenue trends, and grow efficiently, making it an essential tool for success.

Spry PT’s billing software seamlessly integrates with existing systems, allowing clinics to improve workflow efficiency. This enables providers to focus on delivering high-quality patient care while optimizing their administrative processes.

Some famous medical billing software examples are Spry, WebPT, CureMD, Kareo, and many more.

Why use Billing Software for PT Clinics?

Medical billing software is used for various purposes, some of which are:

• Improve Reimbursement: Staying organized with medical billing tasks leads to faster reimbursements for physical therapy services. Efficient claim management and error reduction accelerate payment timelines, improving cash flow. This allows therapists to focus more on patient care and enhance patient experience.
• Insurance Enrollment: Billing software integrated with a clearinghouse streamlines insurance enrollment and claim processing for physical therapy clinics. This reduces claim rejections, speeds up reimbursements, and allows therapists to focus more on patient care, making it an essential tool for efficient practice management.
• Insurance Credentialing: Insurance credentialing within therapy billing software simplifies in-network benefit management for physical therapy clinics. It automates the enrollment process, enabling efficient verification of patient benefits and leading to improved billing accuracy. This ultimately enhances reimbursements and reduces administrative burdens, allowing clinics to focus on patient care.
• Efficiency: Physical therapy billing software significantly reduces clinic staff's manual workload by automating insurance verification, claim submission, and payment posting. This streamlined process allows quicker processing times and enables staff to focus on other essential tasks.
• Accuracy: The software minimizes billing errors by standardizing entries and ensuring compliance with regulations. Accurate coding and documentation help prevent costly mistakes that could lead to denied claims and delayed payments.
• Revenue Cycle Management (RCM): With real-time analytics, billing software accelerates collections and provides valuable insights into financial performance. This data-driven approach helps clinics make informed decisions to optimize their revenue cycle.
• Focus on Patient Care: Billing software efficiently handles administrative tasks, allowing clinics to concentrate on providing high-quality care. This enhances patient satisfaction and improves overall service delivery.
• End-to-end Rejection Handling: End-to-end rejection handling ensures smooth claim processing for physical therapy clinics by tracking and managing payor issues throughout the billing cycle. This proactive approach minimizes reimbursement delays, allowing therapists to concentrate more on patient care.
• ERA Enrollment and Extraction: ERA enrollment and extraction streamline electronic remittance processing for physical therapy clinics, reducing manual data entry and speeding up reconciliation. This automation allows therapists to focus more on patient care, improving overall practice efficiency.

Must-Have Features of Therapy Billing Software

When considering therapy billing software, looking for features that streamline various processes is essential. The software should:

• Automated Pre authorizations
• Post payments and adjustments efficiently
• Receive and post Electronic Remittance Advice (ERA) documents
• Manage claim rejections and claims status at the clearinghouse level
• Automated denial management/End-to-End Rejection Handling
• End-to-end RCM services
• Automated Billing Rules
• Insurance credentialing services
• Allow for easy lookup or identification of patients through multiple methods
• Provide a dedicated claims performance dashboard for real-time insights
• Keep secure and encrypted credit cards on file (with patient consent)
• Process patient statements and accept electronic patient payments
• Handle claim appeals for denied or unpaid items
• Create charges and associate them with the appropriate procedures and diagnoses
• Establish flexible payment plans that track the last payment date and amount
• Review charges and validate claims before submission
• Track and report any unapplied monies
• Create customized letters for payers, attorneys, workers, and patients
• Perform facility-based UB-04 billing when necessary
• Manage patient payments and collections effectively
• Offer benchmarks and key performance indicator reports to track success

With these essential features in mind, let's dive into our curated list of the top 10 therapy billing software options to help you choose the best fit for your practice.

List of Top 10 Therapy Billing Software

1. Spry PT

Rating: 5 out of 5 stars

Spry PT billing software is the ideal solution for physical therapy clinics, designed to meet their specific billing needs. By focusing on revenue acceleration, Spry integrates billing operations seamlessly to ensure efficient practice management. The software automates various billing processes, allowing clinics to concentrate on what matters most—delivering high-quality care to patients.

By streamlining billing procedures, Spry enhances the efficiency of your operations and helps you stay compliant with the latest regulations and standards. Moreover, Spry PT billing software provides a pathway to your financial freedom. By optimizing your billing processes and accelerating your revenue cycle, you can achieve a healthier bottom line and invest more resources back into your practice.

Why Choose Spry?

• Maximize revenue
• Integrate billing
• Automate patient billing
• Boost claim approvals
• Automatically verify patients' insurance eligibility 
• Fragmented tools
• Digital intake

Pros:

• Combines EMR, billing, and patient management in one system.
• Reduces documentation time with smart workflows.
• Mobile-friendly and easy to access across devices.
• Offers automated charting and eligibility verification.
• Integrated at-home patient monitoring via AI.

Cons:

• It may require training for full utilization.
• Frequent updates can overwhelm new users.

Pricing:

• Free trial is available
• Price starts from $150/NPI/month
• Industry lowest RCM fee @4%

2. DrChrono

Rating: 4.0 out of 5 stars

DrChrono is a comprehensive medical billing platform designed to help healthcare providers manage their revenue cycle more efficiently. Its user-friendly interface and robust features simplify the billing process, allowing doctors to focus more on patient care.

One of DrChrono's key strengths is its ability to submit electronic claims directly to insurance carriers. This speeds up the billing process while reducing errors, which helps improve cash flow for medical practices by minimizing mistakes and ensuring timely payments.

In addition, DrChrono offers customizable superbills and billing codes, enabling providers to document services and ensure correct reimbursements. By seamlessly syncing scheduling with billing information, the system enhances accuracy and reduces administrative errors.

Why Choose DrChrono?

• Custom templates
• Custom macros
• Custom vitals
• Lab integrations
• Developed medical forms
• Electronic prior authorization
• Securely sync to immunization registries

Pros:

• Provide a comprehensive suite of solutions and services
• No additional cost
• Seamless telemedicine app

Cons:

• Reports of slowness because of maintenance updates
• No immediate solution to issues

Pricing:

• Pricing on request

3. WebPT

Rating: 4.3 out of 5 stars

WebPT is one of the most widely used physical therapy billing software platforms. It is highly regarded not only for its comprehensive billing capabilities but also for its powerful and intuitive clinical charting tools. As the preferred software solution for rehab therapy practices, WebPT is particularly well-suited for larger organizations aiming to streamline and optimize their daily operations.

By integrating WebPT Billing, front office, back office, and patient workflows are seamlessly synchronized, resulting in a comprehensive, all-in-one solution that helps practices save valuable time, reduce administrative burdens, and ultimately boost profitability.

Why Choose WebPT?

• Custom onboarding and training
• Medicare safeguards, reporting, and compliance alerts
• Unlimited customer support
• Data migration
• Unlimited storage and digital document upload

Pros:

• Transparent pricing
• Intake forms populate clinical notes
• Unlimited customer support

Cons:

• Lack of mobile apps
• No free trial available
• The patient portal is a singular function
• Downtimes and outages
• Poor customer support
• Add on cost for different product features
• Expensive RCM

Pricing:

• Pricing on request

4. Kareo Billing

Rating: 3.9 out of 5 stars

Kareo is a leading therapy billing software that simplifies healthcare administration with its easy-to-use platform. Designed to streamline financial workflows, Kareo helps medical professionals manage billing more effectively. Key features include real-time eligibility verification, automatic claim submissions, and clear billing insights.

With Kareo, healthcare practitioners can quickly navigate complex billing codes, ensuring timely reimbursements. Its cloud-based system allows staff to collaborate easily, reducing errors and boosting efficiency. Plus, Kareo seamlessly integrates with electronic health records (EHR), improving the flow of medical data.

Why Choose Kareo?

• Customizable templates
• E-prescribing
• Patient charting
• Lab integration
• Patient Portal
• Clinical decision support

Pros:

• Easy to use
• Comprehensive analytics
• Immediate processing

Cons:

• The system can be slow
• Enrolling providers can be a cumbersome process

Pricing: 

• Pricing on request

5. NextGen Healthcare

Rating: 4.0 out of 5 stars

NextGen Healthcare offers advanced medical billing software that helps healthcare providers streamline and improve their revenue cycle management. With a user-friendly interface and powerful features, the software makes it easy for practices to manage claims, payments, and patient billing more efficiently.

The system integrates seamlessly with electronic health records (EHR), allowing for smooth data exchange and accurate coding. Critical features like real-time claim tracking, automated submissions, and denial management reduce administrative work and help boost revenue.

NextGen's software also includes customizable reporting tools, letting practices analyze financial performance and find areas for improvement. It supports compliance with industry regulations and payer requirements, reducing the risk of claim denials.

Why Choose NextGen Healthcare?

• Customizable templates
• Multiple integration options
• Robust compliance measures
• Complete overview of claim details

Pros:

• iOS-compatible mobile app
• Real-time eligibility verification

Cons:

• Lacks fuller integration for multiple suites
• Inconsistent user experience

Pricing:

• Pricing on request 

6. AdvancedMD

Rating: 3.6 out of 5 stars

AdvancedMD offers a complete medical bill software solution for healthcare facilities of all sizes, making it easy to manage the entire revenue cycle. With AdvancedMD, healthcare providers can effectively handle claims, payments, and ongoing billing processes, helping improve financial performance and reduce unnecessary costs.

Moreover, the software includes advanced features like automated claim tracking to ensure accuracy and compliance with billing regulations. Its user-friendly design provides quick access to secure data, billing history, and essential records. Plus, it easily integrates with electronic health record (EHR) systems, improving data sharing and boosting efficiency.

Why Choose AdvancedMD?

• Scheduling
• Charting
• Payment tracking
• Patient engagement tools
• Billing
• Communication workflows

Pros:

• Personalized patient engagement
• Auto-accept consent forms
• Comprehensive patient portal
• Claim attachments (images, labs, notes, and diagnostics)

Cons:

• More expensive
• Poor customer service
• Additional cost for add-ons and training

Pricing:

• Pricing on request

7. CureMD

Rating: 3.4 out of 5 stars

CureMD offers cutting-edge medical billing software that helps healthcare professionals save time and money on administrative tasks. The software allows providers to manage their billing processes effectively, minimize costs, and ensure accurate and timely reimbursements. It features customizable templates, automated medical coding suggestions, and easy integration with other systems, allowing users to submit error-free claims easily.

CureMD's electronic health record (EHR) software enables seamless data sharing, while its intuitive billing interface eliminates unnecessary complications. With robust reporting features, providers can gain insights into revenue cycles, identify trends, streamline operations, and boost income.

Why Choose CureMD?

• Personalized dashboard
• Intelligent billing
• Task management
• Real-time insurance eligibility
• Credit card management
• Denial management

Pros:

• Cloud-based program
• Customizable dashboard
• HIPAA compliant

Cons:

• No free plan
• Limited support hours

Pricing:

• Pricing on request

8. PracticeSuite

Rating: 4.0 out of 5 stars

PracticeSuite offers cutting-edge medical billing system software that makes it easier for healthcare providers of all sizes to manage their billing processes. By streamlining complex billing tasks, PracticeSuite allows medical offices to focus more on patient care than administrative work.

The software efficiently handles patient accounts, payment tracking, and claim submissions, making the process smoother and more accurate. Moreover, with its intuitive interface, users can quickly navigate through the billing workflow, reducing the chance of errors and ensuring compliance with industry regulations. 

Why Choose PracticeSuite?

• Lab integrations
• Patient portals
• Appointment scheduling/management
• Patient demographics
• Billing and invoicing
• Telemedicine
• Patient engagement tools
• telehealth functionality

Pros:

• Ease of use 
• Highly responsive customer support service
• Improves patient satisfaction

Cons:

• Steep learning curve
• Limited customization options
• Users experience frequent issues

Pricing:

• Pricing on request

9. AthenaCollector

Rating: 3.8 out of 5 stars

AthenaCollector is a comprehensive medical billing solution designed to optimize revenue cycles for healthcare practices of all sizes. With its user-friendly interface and advanced features, AthenaCollector simplifies the complex world of medical billing, allowing healthcare professionals to focus more on patient care.

Additionally, The software reduces manual entry errors and enhances data flow by seamlessly integrating with existing Electronic Health Records (EHR) systems. Its automated billing processes improve cash flow and minimize revenue leakage by accelerating claim submissions and reimbursements.

Why Choose AthenaCollector?

• Electronic health record
• Revenue cycle management
• Patient record management 
• Claim management
• Appointment management

Pros: 

• Provide insights into clinical performance
• Update billing rules

Cons:

• It does not offer medical coding services
• The team does not manage denials for specific claims

Pricing:

• Pricing on request

10. MicroMD

Rating: 3.2 out of 5 stars

MicroMD's practice management solution is a robust tool designed to revolutionize billing and revenue cycle management (RCM) for healthcare practices. Automating essential tasks empowers providers with robust scheduling, registration, billing, and collections features in one comprehensive platform.

With MicroMD, healthcare professionals can easily access detailed patient financial overviews and transaction histories, simplifying the complexities of medical billing. This quick access to critical information streamlines claims submissions, enhances charge capture, and facilitates insurance eligibility checks, ensuring that nothing falls through the cracks.

By optimizing these processes, MicroMD significantly accelerates payment cycles and improves financial operations, allowing your practice to focus on what truly matters: delivering exceptional patient care. With less time spent on administrative tasks, healthcare providers can dedicate more energy to their patients, fostering stronger relationships and improving overall satisfaction.

Why Choose MicroMD?

• Practice management
• Cloud-based
• Specialty EMR
• Electronic prescribing
• Electronic medical records
• Patient engagement
• Claim management

Pros:

• User friendly
• Suitable for specialty care and specialist doctors

Cons:

• Little costly
• Lack of versatility

Pricing:

• No free trial available
• Pricing on request

11. Prompt

Rating: 4.9 out of 5 stars

Prompt therapy billing software is ideal for therapists as it enhances operational efficiency and financial management. By automating tasks such as eligibility verification and claim submissions, the software allows therapists to focus more on patient care rather than administrative duties. It also improves billing accuracy through real-time error detection, leading to higher claim approval rates and reduced denials. 

Comprehensive payment tracking enables therapists to monitor revenue cycles closely, ensuring timely payment collection. With user-friendly interfaces, prompt therapy billing software simplifies compliance with billing regulations, ultimately supporting therapists in delivering high-quality patient care while maintaining a stable practice.

Why Choose Prompt?

• Telehealth
• Streamlined payment tracking
• Internal Communications
• Home Exercise Program (HEP)
• Dashboard
• Patient management
• Billing

Pros:

• User-friendly interface
• Compliance and regulation adherence

Cons:

• Customer support needs improvement
• Customization complexity for some features

Pricing:

• Pricing on request

12. Raintree

Rating: 4.2 out of 5 stars

Raintree Systems provides a comprehensive EMR and billing solution specifically tailored for therapy and rehabilitation practices. The software streamlines administrative processes, enhances patient care, and integrates key features such as patient scheduling, documentation, billing, and reporting. With a focus on improving operational efficiency, Raintree empowers clinics to maximize revenue and improve patient outcomes through advanced technology and industry expertise.

Why Choose Prompt?

• Patient Portal
• Telehealth
• RCM and billing
• Revenue cycle management
• Patient scheduling
• Documentation
• Reporting tools

Pros:

• Streamlines billing cycle
• Better decision making

Cons:

• Require a learning curve
• Higher cost

Pricing:

• Pricing on request

Here’s a graphic comparing various therapy billing software based on key parameters:

The above table provides a clear comparison of how different therapy billing softwares stack up against key features, helping potential users make informed decisions based on their specific needs.

Conclusion 

With a wide range of pt billing solutions available in the market, we have started a list of the best pt billing software (each with different preferences and demands). Now, it's your choice to choose between the best therapy billing software for your needs. 

These ten billing software for hospitals represent the most robust capabilities, highest standards of dependability, and user-friendly interfaces. 

If you need help choosing the best therapy billing software for your business from the list above, we suggest you use Spry PT billing software for all your medical needs. 

Spry has all the advanced features, such as billing software, integrated billing, automated Patient billing, boost claim approvals, and more, along with the best and most affordable pricing plans.

So, book a free demo today, and start your journey with us!