Top 54 Medical Billing Software (Jun 2024)

2024's Best 55 Medical Billing Systems

Shlomi LaviShlomi Lavi / Jun 05, 2024

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1. AdvancedMD Medical Billing

  • Best for: Small, medium and large size businesses
  • Price: starts at $429 per provider/month
  • Jun 02, 2024
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
  • Jun 05, 2024
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 $75 per month
  • Jun 03, 2024
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
  • Jun 05, 2024
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
  • Jun 01, 2024
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
  • Jun 05, 2024
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 01, 2024
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 04, 2024
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:
  • Jun 04, 2024
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
  • Jun 05, 2024
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
  • Jun 02, 2024
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
  • Jun 01, 2024
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 01, 2024
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 03, 2024
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 02, 2024
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
  • Jun 04, 2024
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. TriZetto Facets

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 02, 2024
Compare TriZetto Facets Vs. AdvancedMD Medical Billing

TriZetto Facets is a state-of-the-art healthcare management software platform designed to streamline and optimize the operations of healthcare payers. Developed by The TriZetto Group, a subsidiary of Cognizant Technology Solutions, Facets stands as a testament to the company commitment to innovation...


18. InstaMed

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 03, 2024
Compare InstaMed Vs. AdvancedMD Medical Billing

InstaMed, a J.P. Morgan company, epitomizes innovation and efficiency in the healthcare payments sector. Established in 2004 in Philadelphia, Pennsylvania, InstaMed has revolutionized the way healthcare payments are processed, offering a seamless experience for consumers, providers, and payers alike...


19. DaisyBill

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 01, 2024
Compare DaisyBill Vs. AdvancedMD Medical Billing

DaisyBill is a cutting-edge software solution designed to streamline the complex and often cumbersome process of workers compensation billing. Established in 2011, DaisyBill was born out of a necessity to simplify the billing process for medical providers who treat injured workers. With its headquar...


20. Quadax Revenue Cycle Management Solutions

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 02, 2024
Compare Quadax Revenue Cycle Management Solutions Vs. AdvancedMD Medical Billing

Quadax Revenue Cycle Management Solutions represent a beacon of innovation and efficiency in the healthcare financial landscape. Established over 50 years ago, Quadax has been at the forefront of streamlining the payment process for healthcare providers, ensuring that they receive timely and deserve...


21. Dr. Bill

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 05, 2024
Compare Dr. Bill Vs. AdvancedMD Medical Billing

Dr. Bill is a cutting-edge cloud-based medical billing software designed to streamline the billing process for medical practitioners, physicians, and healthcare organizations. Established to address the complexities of medical billing, Dr. Bill simplifies the submission of claims and management of i...


22. IVY Pay

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 03, 2024
Compare IVY Pay Vs. AdvancedMD Medical Billing

IVY Pay is a revolutionary payment solution designed specifically for therapists, offering a seamless and secure way to manage transactions. Established with the vision to streamline the payment process for mental health professionals, IVY Pay has become an indispensable tool for therapists who seek...


23. Personal Billing Assistant (PBA)

  • Best for: SMBs
  • Price:
  • Jun 05, 2024
Compare Personal Billing Assistant (PBA) Vs. AdvancedMD Medical Billing

In the dynamic landscape of healthcare management, MedTel Software Ltd. has carved out a niche with its innovative product, the Personal Billing Assistant (PBA). This web-based application is a testament to MedTel commitment to streamlining the administrative complexities faced by healthcare profess...


24. TruBridge

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 02, 2024
Compare TruBridge Vs. AdvancedMD Medical Billing

TruBridge is a comprehensive healthcare software solution designed to streamline operations, enhance efficiency, and improve patient care across the healthcare continuum.


25. Anagram

  • Best for: Small, medium and large size businesses
  • Price: starts at $135 per office/month
  • Jun 05, 2024
Compare Anagram Vs. AdvancedMD Medical Billing

Anagram is a pioneering healthcare technology company that has revolutionized the way eye care practices manage insurance billing and patient care. Established with a vision to streamline the complexities of insurance processes, Anagram serves as a beacon for optometrists, opticians, and ophthalmolo...


26. AveaOffice

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 03, 2024
Compare AveaOffice Vs. AdvancedMD Medical Billing

Designed specifically to mirror the typical patient journey from pre-admission to post-discharge, yet flexible enough to adjust to your unique processes, every staff member is guided to push workflows forward effortlessly and capture information needed to ensure clean claims and maximum reimbursemen...


27. TouchHealth

  • Best for: Small, medium and large size businesses
  • Price: starts at $15 per 3 users/month
  • Jun 04, 2024
Compare TouchHealth Vs. AdvancedMD Medical Billing

TouchHealth is a cutting-edge software solution designed to streamline the healthcare experience for both patients and providers. Established with a vision to enhance clinical outcomes and patient satisfaction, TouchHealth has been at the forefront of healthcare technology since its inception.


28. Zelis

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 02, 2024
Compare Zelis Vs. AdvancedMD Medical Billing

Zelis is a beacon of innovation in the healthcare information technology sector, dedicated to modernizing the healthcare financial experience.


29. Agent+

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 05, 2024
Compare Agent+ Vs. AdvancedMD Medical Billing

Agent+ by Motive Health is an innovative OHIP billing application designed to streamline the medical billing process for doctors in Ontario. It is a mobile solution that allows physicians to submit their OHIP claims with ease and efficiency, directly from their smartphones. This app is particularly ...


30. Alaffia Health

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 02, 2024
Compare Alaffia Health Vs. AdvancedMD Medical Billing

Alaffia Health is a dynamic healthtech company that wields the power of machine learning and AI to proactively combat the staggering $300 billion lost annually to medical claim fraud, waste, and abuse in the United States. Founded on the premise of transparency and efficiency, Alaffia Health aims to...


31. A&L Medical Billing System

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 03, 2024
Compare A&L Medical Billing System Vs. AdvancedMD Medical Billing

The A&L Medical Billing System is a comprehensive solution designed to streamline the billing process for medical practices. Established in 1985, this system has been a reliable partner for healthcare providers, ensuring that their focus remains on patient care rather than administrative tasks.


32. Claimocity

  • Best for: Small, medium and large size businesses
  • Price: starts at $99 per user/month
  • Jun 02, 2024
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...


33. AltuMED PracticeFit

  • Best for: SMBs
  • Price:
  • Jun 03, 2024
Compare AltuMED PracticeFit Vs. AdvancedMD Medical Billing

AltuMED PracticeFit is a cloud-based electronic practice management software that optimizes the medical billing process for healthcare providers. It is designed for small to medium-sized practices that want to streamline their billing operations, increase their revenue, and improve their productivit...


34. TriMed Complete

  • Best for: Small, medium and large size businesses
  • Price: starts at $539 per month
  • Jun 05, 2024
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.


35. AnodynePay

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 04, 2024
Compare AnodynePay Vs. AdvancedMD Medical Billing

AnodynePay is a patient payment solution that helps healthcare providers to digitize their patients financial journey. It was established in 2008 by Plutus Health Inc., a company based in Dallas, Texas. AnodynePay has a team of over 50 employees who are dedicated to providing the best service and su...


36. Experity

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 01, 2024
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.


37. BankingQ™

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 04, 2024
Compare BankingQ™ Vs. AdvancedMD Medical Billing

BankingQ™ by ImagineSoftware is a revolutionary banking software that bridges the gap between healthcare and banking. It is designed for medical groups, hospitals, and health systems that want to streamline their revenue cycle management and automate their payment reconciliation process.


38. Bonafide Billing Management

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 02, 2024
Compare Bonafide Billing Management Vs. AdvancedMD Medical Billing

Bonafide Billing Management is a comprehensive solution designed to streamline the financial operations of Durable Medical Equipment (DME) and Home Medical Equipment (HME) providers. Established to address the intricate billing and management needs of the healthcare industry, Bonafide offers a robus...


39. Cedar

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 04, 2024
Compare Cedar Vs. AdvancedMD Medical Billing

Cedar is a beacon of innovation in the healthcare sector, a company that stands at the intersection of technology and patient care. Established in 2016 by Florian Otto and Arel Lidow, Cedar roots are firmly planted in the bustling city of New York, New York. It is a place where the pulse of progress...


40. Collectly

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 04, 2024
Compare Collectly Vs. AdvancedMD Medical Billing

In the bustling world of healthcare, where the financial experience can be as complex as the medical one, Collectly Medical Billing Software emerges as a beacon of innovation. Established in 2017 by Levon Brutyan and Maxim Mizotin, Collectly is not just a tool; it is a revolution in patient financia...


41. Comhar360

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 03, 2024
Compare Comhar360 Vs. AdvancedMD Medical Billing

Comhar360 is a beacon of innovation in the realm of software services and healthcare solutions, illuminating the path for businesses to achieve their goals with cutting-edge technology.


42. Instant Health Care WebEHR

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 04, 2024
Compare Instant Health Care WebEHR Vs. AdvancedMD Medical Billing

Instant Health Care WebEHR is a medical software company that provides Electronic Health Records (EHR), Billing, and Transcription services to healthcare providers. The company’s objective is to provide superior solutions that help enhance cash-flow while increasing productivity for healthcare provi...


43. Corral

  • Best for: SMBs
  • Price:
  • Jun 04, 2024
Compare Corral Vs. AdvancedMD Medical Billing

In the bustling world of healthcare, where the pulse of life meets the rhythm of technology, Corral Medical Billing Software emerges as a harmonious solution to the often dissonant challenge of financial management. Established with a vision to streamline the payment experience, Corral Solutions off...


44. enter

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 03, 2024
Compare enter Vs. AdvancedMD Medical Billing

Enter Medical Billing Software is a cutting-edge solution designed to streamline the revenue cycle management (RCM) for healthcare providers. It is a sophisticated system that employs artificial intelligence to ensure the fastest, most accurate claims processing, payment tracking, and denial managem...


45. Fusion EDI

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 01, 2024
Compare Fusion EDI Vs. AdvancedMD Medical Billing

Fusion EDI by BellMedEx is a cutting-edge solution designed to streamline the complex and often cumbersome process of healthcare billing. It is a healthcare clearinghouse EDI software that promises an instant transmission of claims with absolute accuracy. This innovative platform is tailored for hea...


46. Healthcare Revenue Group

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 03, 2024
Compare Healthcare Revenue Group Vs. AdvancedMD Medical Billing

Healthcare Revenue Group (HRG) stands as a beacon of financial health in the healthcare industry. Established in 1999 in the vibrant city of Overland Park, Kansas, HRG has carved out a niche as a specialized service organization dedicated to the prosperity of healthcare and hearing care practices.


47. Health iPASS

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 02, 2024
Compare Health iPASS Vs. AdvancedMD Medical Billing

Health iPASS is a company that aims to revolutionize the way patients and healthcare providers interact and communicate. It offers a cloud-based platform that simplifies the billing process, enhances the patient experience, and increases the revenue cycle performance.


48. HealthWeb

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 05, 2024
Compare HealthWeb Vs. AdvancedMD Medical Billing

Working primarily with the public and charitable sectors across the UK, HealthWeb Solutions is a one stop shop for all your public relations, communications, engagement, media and tech needs.


49. HonorCare®

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 05, 2024
Compare HonorCare® Vs. AdvancedMD Medical Billing

HonorCare® by ImagineSoftware represents a beacon of innovation in the healthcare billing landscape. Established in 2000, ImagineSoftware has carved out a niche for itself in the bustling city of Charlotte, North Carolina. With a team of approximately 180 employees, ImagineSoftware is not just a com...


50. CharmHealth

  • Best for: Small, medium and large size businesses
  • Price: starts at $350 per provider/month
  • Jun 02, 2024
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.


51. Lightning MD

  • Best for: Small, medium and large size businesses
  • Price: starts at $49 per license
  • Jun 02, 2024
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.


52. Quest Diagnostics

  • Best for: SMBs
  • Price: Has a free version
  • Jun 04, 2024
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.


53. EDIinsight

  • Best for: SMBs
  • Price:
  • Jun 03, 2024
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...


54. DocLinks

  • Best for: Medium business
  • Price: starts at $325 per provider/month
  • Jun 03, 2024
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.



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. 

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2023 best Medical Billing Software | ITQlick.com

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Auditor - 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.