Top 54 Medical Billing Software

2022's Best 54 Medical Billing Systems

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1. AdvancedMD Medical Billing

  • Best for: Small, medium and large size businesses
  • Price: starts at $429 per provider/month
  • Mar 09, 2022
Compare AdvancedMD Medical Billing Vs. AdvancedMD Medical Billing

AdvancedMD Medical Billing is an integrated cloud-based medical software solution for private medical practitioners. Some core features of Advanced Billing include Claims Management, Code & Charge Entry, Compliance Tracking, practice management and electronic health records among others.


2. Therabill

  • Best for: Small, medium and large size businesses
  • Price: starts at $149 per provider/month + $199 setup fee
  • Aug 25, 2022
Compare Therabill Vs. AdvancedMD Medical Billing

Therabill is a cloud-based medical software for small to large mental health and speech therapy institutions. Its key features include Home health management, Physician management, Automated scheduling, Document management, Claims processing, and Invoice management to name a few.


3. RXNT hospice

  • Best for: Small, medium and large size businesses
  • Price: starts at $65 per month
  • Mar 11, 2022
Compare RXNT hospice Vs. AdvancedMD Medical Billing

RXNT hospice is a cloud-based medical billing solution that is designed for use in hospitals and clinics of all sizes. The solution is also distributed as a suite combining all the necessary features that are required in a medical and healthcare setup


4. HARP

  • Best for: SMBs
  • Price: starts at $39.10 per license
  • Mar 13, 2022
Compare HARP Vs. AdvancedMD Medical Billing

HARP (Health Accounts Receivable Processor) is a cloud-hosted and on-premise medical billing platform that is built to support small and medium-sized medical practices. The software is tailored to handle the billing requirements of various medical facilities in different specialties like emergency d...


5. DrsMagic

  • Best for: SMBs
  • Price: starts at $80 per month
  • Feb 17, 2022
Compare DrsMagic Vs. AdvancedMD Medical Billing

DrsMagic is a Web-based Electronic Medical Record & Medical Billing software solution that offers a wide range of billing needs including CMS 1500, 2006 ADA Dental form and more. The software is offered in two versions namely; DrsMagic Lite and Pro. Single Station versions are for installation on a...


6. Essential RCM

  • Best for: Medium and large size businesses
  • Price: starts at $149 per feature/month
  • Apr 27, 2022
Compare Essential RCM Vs. AdvancedMD Medical Billing

Essential RCM is medical billing software solution medium to large health care providers. Its ultimate goal is to help doctors, laboratories, and hospitals avoid not getting paid. Its key features include billing, collection, and claims management.


7. Claim Manager

  • Best for: Small businesses and start ups
  • Price: starts at $23.25 per month
  • Jun 17, 2022
Compare Claim Manager Vs. AdvancedMD Medical Billing

Claim manager is cloud-based medical billing software that can be used by nurses, health care services and doctors in Canada and British Columbia. Practitioners in all medical fields from small or house practices, medium-sized practices, and major practices such as surgery can use claim manager.


8. ECLIPSE Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $69.33 per month
  • Jun 11, 2022
Compare ECLIPSE Software Vs. AdvancedMD Medical Billing

ECLIPSE is a billing and practice management solution for medical businesses of all sizes. It offers such capabilities as electronic claims management, patient and physician scheduling, and customized documentation. The software was designed and launched by MPN Software Systems Inc headq...


9. Athena collecter

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Jul 06, 2022
Compare Athena collecter Vs. AdvancedMD Medical Billing

AthenaCollector is a cloud-based medical billing solution that helps clients and patients secure full payment faster and reduce administrative drag. The software has an automatically updated rules engine.


10. bflow Solutions

  • Best for: SMBs
  • Price: starts at $350 per user/month
  • Jul 08, 2022
Compare bflow Solutions Vs. AdvancedMD Medical Billing

BFlow Solutions is a cloud-based medical billing solution for healthcare facilities such as sleep labs, Durable Medical Equipment, homecare business, and so on. With the automated claim management as well as billing feature enables the software to simplify the practice operations with the multi-chan...


Pricing Guide - Medical Billing Software:

Medical Software Price Range

Small and midsize practices can expect to pay around $500 per month for an EMR subscription. There are some free solutions, of course, that simply don’t get the job done, and others that charge $1,000+ per month. Major healthcare organizations are paying between $10,000 to $100,000 per month on this type of software.

  • EHR Software: can cost between $99 to $999+ per provider per month. For example, e-MDs Chart starts at $399 per month, eClinicalWorks is $499 per month, and Intelligent Medical Software starts at $199 per month. Praxis Electronic Medical Records pricing is $259 per month, and Practice Fusion is offered for free but it’s not recommended for every type of practice.
  • Medical Billing Software: $99 – $1,000+ per provider per month - In addition some vendors charge a percentage of the collections (between 2% to 10%). A few examples include: PrognoCIS costs $250 per month, NueMd is $150 per month, and Kareo charges 4%-9% of the collections.
  • Appointment Scheduling Software: $9 – $299 per month, depending on how many users need a license. BookSteam starts at $19.95 per month per user, SimplyBook.me offers a free version, and it offers another plan starting at $10 per month.
  • Medical Practice Management Software: $9.99 – $149 per month; vCita starts at $12 per month and Caspio at $99 per month - Caspio also offers a free version.
  • Patient Portals: $9.99 to $149.00 per month; TeamDesk costs $49 per month, and Solutionreach pricing starts at $299 per month.
  • Online Reputation Software: Pricing ranges between $199 to $4999. RemoveYourName starting at $3,000 and Integrity Defenders at $630.
  • Chiropractic Software: Pricing ranges between $49 to $999+. vCita starts at $12 per month and Intelligent Medical Software price starts at $199 per month.

11. PowerMed Billing

  • Best for: SMBs
  • Price: starts at $249 per month
  • Apr 30, 2022
Compare PowerMed Billing Vs. AdvancedMD Medical Billing

Powermed is a cloud-based medical billing solution that is developed to work in all sized practices. It works perfectly in small-sized practices, medium-sized practices, and large-sized practices. Different medical professionals use the software to manage and improve the quality of their medical pra...


12. EZClaim

  • Best for: SMBs
  • Price: starts at $149 per month
  • May 19, 2022
Compare EZClaim Vs. AdvancedMD Medical Billing

EZClaim is a web based medical billing solution for medical practices of all sizes. It offers such capabilities as claims management, patient payment history, remittance advice, and others. The software was designed and launched by EZClaim headquartered in Michigan, United States.


13. Claim Agent

  • Best for: SMBs
  • Price:
  • Jun 18, 2022
Compare Claim Agent Vs. AdvancedMD Medical Billing

Claim Agent is a medical billing software designed as an online solution for claims management. The software functionalities help users reduce the possibility of errors, optimizing workflow, and accelerating cash flow.


14. A+ DELPHI Medical Billing Software

  • Best for: SMBs
  • Price: starts at $895 per license
  • Jun 22, 2022
Compare A+ DELPHI Medical Billing Software Vs. AdvancedMD Medical Billing

A+ Delphi is on-premise medical billing software that helps mental health providers and therapists in the preparation of billing for their clients. The software tracks every process involved in accounting; some of these processes include; invoicing, billing and schedule management.


15. Medicall Billing Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $250 per license
  • Jun 19, 2022
Compare Medicall Billing Software Vs. AdvancedMD Medical Billing

Quest Medical Billing is a medical billing software designed to help healthcare facilities boost employee productivity and enhance cash flow. With the software, they can get medical reimbursements quickly and with less rejections.


16. HealthLink

  • Best for: SMBs
  • Price: starts at $345 per year
  • Jul 02, 2022
Compare HealthLink Vs. AdvancedMD Medical Billing

HealthLink is cloud-based medical practice management that is developed to manage all the activities that are carried out in clinics and hospitals of all sizes. The solution can be sued in all types of practices from various disciplines such as dermatology, urology, optometry, general care practices...


17. Claimocity

  • Best for: Small, medium and large size businesses
  • Price: starts at $99 per user/month
  • Jan 07, 2022
Compare Claimocity Vs. AdvancedMD Medical Billing

Claimocity is a medical billing software designed for health organizations to reduce clinical workloads and automate complex billing and coding. The software helps doctors to save time while increasing revenue and productivity. Claimocity allows users to direct coding challenges to the software expe...


18. TriMed Complete

  • Best for: Small, medium and large size businesses
  • Price: starts at $539 per month
  • Jun 03, 2022
Compare TriMed Complete Vs. AdvancedMD Medical Billing

TriMed Complete is a medical charting and practise management software that enhances patient management and empowers medical practitioners with useful medical data for patient administration.


19. Experity

  • Best for: Small, medium and large size businesses
  • Price:
  • Apr 25, 2022
Compare Experity Vs. AdvancedMD Medical Billing

Experity is a care EMR software for medical practitioners to manage urgent care delivery to patients for better outcomes.


20. CharmHealth

  • Best for: Small, medium and large size businesses
  • Price: starts at $350 per provider/month
  • Feb 22, 2022
Compare CharmHealth Vs. AdvancedMD Medical Billing

Cloud based online electronic health records (EHR) systems that allows you to create, manage patient records easily and securely using just your browser.


21. Lightning MD

  • Best for: Small, medium and large size businesses
  • Price: starts at $49 per license
  • Feb 21, 2022
Compare Lightning MD Vs. AdvancedMD Medical Billing

Much more than medical billing, Lightning MD Practice Management is the ideal, fastest and most convenient RCM and scheduling solution for any practice.


22. Quest Diagnostics

  • Best for: SMBs
  • Price: Has a free version
  • Feb 23, 2022
Compare Quest Diagnostics Vs. AdvancedMD Medical Billing

Helping healthcare organizations improve the efficiency of care delivery with technology that connects data to decision-making in tangible, value-creating ways.


23. EDIinsight

  • Best for: SMBs
  • Price:
  • Jul 18, 2022
Compare EDIinsight Vs. AdvancedMD Medical Billing

EDIinsight is an on-premise medical billing solution that is developed to work in all types of hospitals and clinics and the size does not matter because it can work in practices of all sizes. the software helps in sorting out all the payment options that are available and allows insurance verifica...


24. DocLinks

  • Best for: Medium business
  • Price: starts at $325 per provider/month
  • Jul 19, 2022
Compare DocLinks Vs. AdvancedMD Medical Billing

DocLinks is a cloud-based medical practice management solution also designed as a medical billing solution as well as an electronic health record solution that has the ability to work in multiple disciplines of the medical and health care industry.


25. ViSolve Medical Billing Software

  • Best for: SMBs
  • Price: starts at $99 per user/month
  • Jul 24, 2022
Compare ViSolve Medical Billing Software Vs. AdvancedMD Medical Billing

ViSolve Medical Billing is a cloud-based medical billing software which increases the speed at which the payments are made to the physicians. With the solution, the hospital finance people can check whether the insurances of the patients are in good condition to pay any pending bills and this saves ...


26. Medical Billing by Clinical Info

  • Best for: Medium and large size businesses
  • Price:
  • Jul 28, 2022
Compare Medical Billing by Clinical Info Vs. AdvancedMD Medical Billing

Medical Billing by Clinical Info is an award-winning cloud-based Medical Billing software, it is designed to support medium and large size medical practices and hospitals. Medical Billing by Clinical Info received a rating of 4.5 from ITQlick team. The software cost is considered average (2.7/5) wh...


27. MedOffice

  • Best for: Small, medium and large size businesses
  • Price: starts at $2,495 per license
  • Sep 24, 2022
Compare MedOffice Vs. AdvancedMD Medical Billing

MedOffice is a cloud-based as well as an on-premise medical billing software that is developed to be used in all types of hospitals and clinics. The solution can also be used in billing companies and has a wide reach of all medical disciplines taking care of such as therapy, long term care, general ...


28. CGM DAQbilling

  • Best for: SMBs
  • Price: starts at $500 per month
  • Sep 19, 2022
Compare CGM DAQbilling Vs. AdvancedMD Medical Billing

CGM DAQbilling is a cloud-based electronic medical recording system that is designed to streamline the patient scheduling process and medical billing. The core features include a virtual lobby where patients can be organized, and the billing entry process can be automated.


29. Clinicaid

  • Best for: Small, medium and large size businesses
  • Price: starts at $19 per month
  • Oct 10, 2022
Compare Clinicaid Vs. AdvancedMD Medical Billing

Clinicaid is a cloud-based medical billing and practice management software. The software is accessible from any internet enabled device, from anywhere. Clincaid has a user-friendly interface and some of the key features include batch billing, invoice templates, claims management, practice managemen...


30. Quest National Services

  • Best for: SMBs
  • Price: starts at $1,250 per month
  • May 09, 2022
Compare Quest National Services Vs. AdvancedMD Medical Billing

Quest National Services Software is a billing software designed for medical practices. It is a web based application, meaning that anyone can use it remotely with the use of a web browser login. It can aid the medical practitioners across all specialities. It is a cross platform application, and wor...


31. NobilityRCM

  • Best for: Small, medium and large size businesses
  • Price:
  • May 04, 2022
Compare NobilityRCM Vs. AdvancedMD Medical Billing

NobilityRCM is a Medical Claims and Collections Software that offers customers pre-funding medical billing. It allows users to concentrate on their practice while eliminating financial hassles; it also allows for the stability of cash flow of the customer which would make expenses covered.


32. Iridium Suite

  • Best for: SMBs
  • Price: starts at $500 per month
  • Oct 05, 2022
Compare Iridium Suite Vs. AdvancedMD Medical Billing

Iridium Suite is a cloud-based medical billing solution that is developed to be used in billing companies, hospitals, and clinics of all sizes. the solution is developed with all features integrated and makes sure that all the work is done in the solution and receipts are produced by the solution on...


33. Experity Patient Engagement

  • Best for: Small, medium and large size businesses
  • Price: starts at $350 per license
  • Oct 21, 2022
Compare Experity Patient Engagement Vs. AdvancedMD Medical Billing

Clockwise.MD is cloud-based medical scheduling software that allows physicians to schedule meetings with their patients online. The solution also is a queue management solution that can be used in various hospitals and clinics such as specialty care clinics, outpatient laboratory clinics, hospitals,...


34. MedicsPremier by Advanced Data Systems

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 19, 2022
Compare MedicsPremier by Advanced Data Systems Vs. AdvancedMD Medical Billing

MedicsPremier is a powerful, reliable cloud-based medical billing solution for all sizes of practice. It offers a number of features which include a patient portal that supports online payments, appointment scheduling and completing questionnaires in advance.


35. ProtoMED

  • Best for: SMBs
  • Price:
  • Feb 23, 2022
Compare ProtoMED Vs. AdvancedMD Medical Billing

ProtoMED is a practice management solution that interfaces with any HL7-compliant charting package. The solution offers a number of features that include a patient portal which can be used to schedule appointments or request a prescription refill.


36. TRIARQ Complete

  • Best for: SMBs
  • Price:
  • Mar 04, 2022
Compare TRIARQ Complete Vs. AdvancedMD Medical Billing

TRIARQ Complete is a cloud-based medical practice management solution. The solution offers a number of features that include a fully-integrated EHR that manages critical patient information needed at the point of care.


37. NextStep™

  • Best for: SMBs
  • Price: starts at $150 per license
  • Apr 02, 2022
Compare NextStep™ Vs. AdvancedMD Medical Billing

NextStep is a web based medical practice management solution for businesses of all sizes. It offers such capabilities as appointment scheduling, claims management, patient portal, and others. The software was designed and launched by Nextstep Solutions Inc headquartered in Michigan, United States. ...


38. E-COMB

  • Best for: Medium and large size businesses
  • Price: starts at $300 per month
  • Mar 09, 2022
Compare E-COMB Vs. AdvancedMD Medical Billing

E-COMB is a web-based software that generates medical claims complying with the HIPAA transaction and code set standards. It offers a number of features including a cross-link at all appropriate levels in the application for the Master Data to be connected to the patient and subsequently to the clai...


39. CarePaths EHR

  • Best for: Small, medium and large size businesses
  • Price: starts at $40 per clinician
  • Mar 09, 2022
Compare CarePaths EHR Vs. AdvancedMD Medical Billing

CarePaths EHR is a cloud-based electronic health record solution that is designed for use in hospitals of all sizes. The solution is easy to use and provides the medical doctors with a platform where they can rely on while doing most of their work.


40. PracticeAdmin

  • Best for: Medium business
  • Price: starts at $99 per provider/month
  • Mar 09, 2022
Compare PracticeAdmin Vs. AdvancedMD Medical Billing

PracticeAdmin is a web-based medical practice management solution that is designed for all sizes of businesses. The solution offers a number of features that include a scheduling module that provides powerful patient scheduling functionality aimed at improving patients interactions.


41. KeyMedical (Eye Care Leaders)

  • Best for: SMBs
  • Price: starts at $350 per month
  • Mar 28, 2022
Compare KeyMedical (Eye Care Leaders) Vs. AdvancedMD Medical Billing

KeyMedical (Eye Care Leaders) is a growing cloud-based Medical Billing software, it is designed to support small and medium size medical practices and hospitals. KeyMedical (Eye Care Leaders) received a rating of 5 from ITQlick team. The software cost is considered average (3/5) when compared to ot...


42. Advanced CMS-1500

  • Best for: SMBs
  • Price: starts at $69.95 per license
  • Mar 31, 2022
Compare Advanced CMS-1500 Vs. AdvancedMD Medical Billing

Advanced CMS-1500 is an on-premise medical billing solution that is also used as a revenue cycle management solution fit for all types of hospitals and clinics. The solution helps hospitals and billing companies in the collection of revenue from their patients and their customers in an easy manner t...


43. Compulink Healthcare

  • Best for: Small, medium and large size businesses
  • Price:
  • Apr 06, 2022
Compare Compulink Healthcare Vs. AdvancedMD Medical Billing

Compulink Otolaryngology Advantage is a EHR and practice management software for medical practices. It is a highly customizable software that can handle all the workflow of a medical practice and streamline and automate the day to day tasks. It is a cloud based software and doesn’t require any physi...


44. CMS-1500 Software

  • Best for: SMBs
  • Price: starts at $79 per year
  • Apr 25, 2022
Compare CMS-1500 Software Vs. AdvancedMD Medical Billing

CMS-1500 is an on-premise Paper Claims Software that assists the users in submitting their paper claims effectively. CMS-1500 allows users to print their claims so that they can send them to all their Payers. It offers unlimited backup disk license.


45. expEDIum Medical Billing

  • Best for: Small, medium and large size businesses
  • Price: starts at $135 per user/month
  • May 11, 2022
Compare expEDIum Medical Billing Vs. AdvancedMD Medical Billing

expEDIum Medical billing system is a product of iTech Workshop. It is a cloud-based software with a secure HIPPA compliant Medical Billing system. This tool supports UB-04 and HCFA paper and electronic limits.


46. CabMD

  • Best for: SMBs
  • Price: starts at $0.10 per license
  • May 10, 2022
Compare CabMD Vs. AdvancedMD Medical Billing

CabMD is a medical billing solution that allows for better claim management and money-saving possibilities. The solution has a number of features including an elegant interface that is intuitive and user-friendly and does not require an instruction manual.


47. iClinic

  • Best for: SMBs
  • Price:
  • May 12, 2022
Compare iClinic Vs. AdvancedMD Medical Billing

iClinic is a management system that allows clinics to operate more efficiently and effectively by providing more responsive services and data to support accountability. Some of its features include a patient profile that creates medical questionnaire, appointment, medication and patient file.


48. Claritee Payment Audit

  • Best for: Small, medium and large size businesses
  • Price: starts at $10,000 per license
  • Apr 12, 2021
Compare Claritee Payment Audit Vs. AdvancedMD Medical Billing

Claritee Payment Audit an on-premise medical billing solution that is only deployed on windows computers and can be used in hospitals and clinics of all types and all sizes. The software is easy to use and helps automate most of the repetitive tasks in hospitals such as patient registration and bill...


49. Clarus RCM

  • Best for: Small, medium and large size businesses
  • Price: starts at $600 per month
  • Jul 25, 2022
Compare Clarus RCM Vs. AdvancedMD Medical Billing

Clarus RCM is a cloud-based medical billing solution that is suitable for use in hospitals and clinics of all sizes. Both the office workers in the hospitals and medical practitioners can use the solution. The solution is easy to use for most people and helps the doctors spend most of their time tre...


50. CompuMD

  • Best for: SMBs
  • Price:
  • Jul 25, 2022
Compare CompuMD Vs. AdvancedMD Medical Billing

CompuMD is a cloud-based medical billing and office management software. The solution streamlines the medical billing practices by providing revenue cycle management and consulting services with regards to stand-alone physician practices, hospital-employed providers, and academic teaching facilities...


51. Debt Collection Management Software

  • Best for: Medium and large size businesses
  • Price:
  • Jun 28, 2022
Compare Debt Collection Management Software Vs. AdvancedMD Medical Billing

Go4Customer Debt Collection is a debt collection management solution for small and medium businesses. It offers various financial collection services and management of financial data. The software was developed and launched by Cyber Futurists Pvt Ltd headquartered in Rajasthan, India.


52. DocPay ACH

  • Best for: SMBs
  • Price: starts at $10 per month
  • Jul 25, 2022
Compare DocPay ACH Vs. AdvancedMD Medical Billing

DocPay ACH is a cloud-based medical billing solution that is designed to assist in online payments and collect patient balances. The software also provides a unique alternative where the patient and the physician will make extended payment arrangements.


53. Easy Coder

  • Best for: Medium and large size businesses
  • Price: starts at $84 per license
  • Jul 25, 2022
Compare Easy Coder Vs. AdvancedMD Medical Billing

Easy Coder is an on-premise medical software that offers medical coding and billing solutions. The software offers a single source for an accurate front end code selection as well as editing. Easy Coder is a comprehensive and user-friendly diagnosis codebook for coders, front-desk, admission staff, ...


54. Easy835

  • Best for: SMBs
  • Price:
  • Jul 25, 2022
Compare Easy835 Vs. AdvancedMD Medical Billing

Easy835 is a growing cloud-based Medical Billing software, it is designed to support small and medium size medical practices and hospitals. Easy835 received a rating of 4.7 from ITQlick team. The software cost is considered affordable (2.5/5) when compared to alternative solutions.



A Buyer's Guide to Business Software Solutions

How to Evaluate and Buy Business Software
 
If you’re somehow puzzled if this article is only for a specific size of business, no, it’s not. This is for you SMEs, MNEs and start-ups software buyers. Also, we’re not talking about a specific software solution here. Whether the software solution that you’re planning to buy is for Accounting, Business Intelligence, ERP, CRM, Help Desk, Maintenance Management or other types of application, one thing is for sure; with the help of this article, you will be able to know the right process in evaluating and buying a business software solution.
 
We’ve been into the software business for years and we’re seeing a lot of nitty-gritty things that often bring confusions and hesitations to many companies looking for better software solutions. Some companies can’t afford to let go their legacy systems while a few is encountering technological snags once the new system is in place. While this is the underlying truth behind software acquisition and implementation, what’s exciting about buying a business software solution is that there is a clear and obvious proof that thousands of companies and corporations today are happy with the benefits this technology is bringing into their respective businesses.  There is a significant increase in their revenue and the growth is on-going. And it’s easy to say; many from the Fortune 500 companies are making a lot of money because of their smartly-acquired business software.
 
So, let’s get straight to the point. What should you do in order to acquire that business software that could make your organization achieve its goals? The answer to this is pretty straightforward: evaluate and buy that right business software. Yes, that’s what you need to do and here’s the best manual from ITQlick.com that could certainly help you in doing that strategically.
 
Consider the Needs of Your Organization
Let’s assume that at this point, the entire management team agreed that you are ready to invest on a certain software application. The budget has been compromised and the key persons who will be involved in the acquisition process were already identified. Therefore, it’s time to approach things the project management way.
 
Define the Project
Every business software solution is categorized base on application type, features, deployment model, market size and pricing model. Remember that our objective here is to evaluate and buy a business software product that will fit into the size and present needs of your business. So what the project management team should try to deal with first is to define the real requirements of your business exactly base on the categories set by the software industry. Moreover, by doing this activity, you are already narrowing down your search for the right solution. Now, consider bringing this list of FAQs to the project management and aim to come up with clear-cut answers.
 
  1. What type of software is needed? Is it Integrated-Suite, Best-of-Breed or Industry-Specific? Ask your CEO’s main agenda and find the perfect match from these available options.
  2. What are the core and secondary features? Are you looking for basic, advanced or hi-end features? List down the specific features per category and allow the department managers and supervisors to give their insights on this list.
  3. How are you going to deploy the system? Would it be on-premise, cloud-based, hosted, or mobile-based? Weigh these options with the help of your CIO.
  4. Are you going for Tier 1, Tier 2 or Tier 3 vendors? Their offered solutions are base on the size of their target market - SMEs, MNEs or start-ups. Seek your CFO’s advice as it is important to match your financial capacity against the cost of the solution that the providers have for you.
  5. Are you willing to pay for the perpetuity software license or a subscription-based solution is way better? How many users are there and what would be their roles in using the system? Solicit feedbacks from future end users for they know better what challenges and risks might possibly come along their way when they’re using the system.
 
Finalize the BOM or List of Requirements
After providing definite answers on the above questions, we can say that the project has already been defined. Your procurement team is now ready to do their role in the acquisition process of this solution. However, in order for them to execute their job properly, they must have the complete list of requirements - features, specifications, hardware, and the software product. In other words, the Bill-of-Materials (BOM) that is final, complete and well-prepared must be handed over to the procurement director. Needless to say, it is very important that everybody is following the company purchasing and procurement protocols at all times.  
 
Request for Proposal (RFP)
The RFP process will bring everything into formality. Since you’re more likely in a line of business that doesn’t regularly buy software products, it is of critical importance that your RFP is well-structured before you send it to your prospect solution providers.
 
Draft the RFP
An RFP that contains all the relevant information as discussed during the project management meetings will enable the providers to return back to you their proposal that is complete and substantial. Therefore, your RFP should basically contain the following:
 
Brief Introduction
  • Company Name
  • Mission and Goals
  • Purpose of the RFP (or the need for software solution)
Business Background
  • Organizational Structure
  • Current Situation (IT infrastructure, system currently in-use, system issues and desired solutions, etc.)
  • Major Objectives of the Software Purchase
Request for Specific Requirements
  • Solution Functionality
  • System Specifications
  • Vendor Company Information
  • Price Model, Service Plans, Package Options
Other Important Inquiries (if necessary)
 
Send the RFP
Well-structured RFP will bring a lot of advantages especially when the proposals from various providers are received and then subjected for review and analysis. Send your RFP to at least three to five providers (or prospects which you have already shortlisted during the project definition phase). Depending on the complexity of the solution, most vendors will send their proposal in a matter of time, which could be around 4 to 6 weeks for Integrated-Suite solution.
 
Why still send RFP?
Is there really a need for RFP if your preferred solution (like cloud-based) and the service plans or packages are already displayed on the vendor’s website? Well, yes, you still need to undergo the RFP process. For most sales people, they certainly know that those figures appearing in the vendor’s website are usually the “list price” and not the “actual price”. More importantly, the vendor’s proposal (response to RFP) will serve as your main basis for the negotiation. Therefore, sending an RFP is a strict requirement.
 
Follow up questions relevant to RFP
More often than not, questions and concerns will be raised by the vendors to whom you send the RFP. You have to entertain them with utmost professionalism. Solution providers who are seeking further clarifications relevant to the RFP are consisting of professional software experts who wants to help your organization as much as they can. Entertain them but at the same time, always be cautious when providing additional information which you know is confidential or proprietary.
 
Evaluate the Proposals
Always refer to your finalized BOM when tabulating the contents of each proposal. Part of this process is to check the features that are available from this certain vendor and to cross out those that are not. While using spreadsheet aids the tabulation process, laying down the document proposals on the table and allowing your project management team to review them one by one should always be conducted. Evaluating the proposals in full force can help strengthen your decision-making process. Have another round of brain-storming session and come with the name of your preferred solution provider.
 
When selecting the final vendor, always promote the best interest of your organization. Consider answering these questions with full sincerity.
 
  1. Which vendor can provide the long-term benefits to your organization?
  2. Which vendor can provide the best and honest service from acquisition to full implementation?
  3. Which vendor is willing to devote most of its time in better serving its client?
 
Contact this solution provider and in your own strategic approach, try to get the answers to those three important questions above. In most cases, vendor who really wants to prove its craft will offer product demos on a higher level. Others will even invite you to check their already deployed and working systems. Feel free to connect with this type of vendor. Conduct simulation and testing, be it a cloud-based or on-premise solution. Examine all aspects and angles especially those that your project management team want to really know in-depth. For as long as it could help you arrive at a better decision, consider doing all the options available – for the interest of the organization.
 
Enter the Negotiation Process
Most solutions providers can be flexible in terms of pricing. Although the final say is oftentimes on the mouth of the sales person from the vendor’s side, a good negotiation process can always deliver a win-win situation to both parties involve. While negotiation sometimes cannot be settled in one sitting session, always be honest with your intentions whenever negotiating with your provider. If it’s about your budget, justify it with clarity. If it’s about their service plans, tell them what’s lacking or missing on their solution. At the end of the day, the most important event that should happen is that both of you are shaking hands because of a well done negotiation process.
 
Seal the Contract
So what are you going to do on a contract that involves a significant amount of investment? There are three project management approaches for this.
 
  1. Pass the ball to you legal team. They know what to do and more or less they will tell you if there is something wrong with the contract. Give them enough time to review before they affix their signature and then finally seal the contract.
  2. Hire a consultant base on the technical aspect that you want to clarify in the contract. If it’s the Scope of Work (SOW), a software implementation expert is the right person. If it is related to complex legal terms and conditions, a lawyer can help. If it has something to do with money, invite an accountant to conduct a thorough review and computation if necessary.
  3. Always consider consulting your project management team. Remember that the CIO, CFO and CEO are all team members. They will be the signatories and they know what’s best for the interest of the company when signing a contract agreement.
 
From evaluation to buying stage, it is important that the project manager must take full responsibility of monitoring all the works identified and distributed among team members. This is why delegating the right project manager is also an important consideration when buying a business software solution. And again, ITQlick.com wants to emphasize that whatever the size of your company is, using the project management approach will always lead you into a better outcome – that is getting what you paid for the right business software solution. 

ITQlick chart - 2022 best Medical Billing Software

2022 best Medical Billing Software | ITQlick.com

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Author - Shlomi Lavi

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Shlomi Lavi is an entrepreneur and founder of ITQlick.com. He holds a Bachelor of Science (B.Sc.) in Information Systems Engineering from Ben Gurion University in Israel. Shlomi brings 17 years of global IT and IS management experience as a consultant and implementation expert for small, medium and large-sized (global) companies. Shlomi’s goal is to share the best knowledge and news about information systems so you can make smarter buying decisions for your business.