Do you want to start a medical coding business franchise but you lack ideas? If YES, here are 12 best medical coding franchise opportunities for sale and their cost.

The fact that the medical billing and coding industry plays a very important role in the health and insurance sectors show that there is a large market for medical billing and coding companies. Medical billing and coding companies help doctors and other healthcare providers process and collect payments from insurance companies and Medicare service providers.

There are loads of medical coding companies in the United States of America who have successfully built their brand and are now selling their franchise to those who are interested in making money from the industry. It pays to buy a franchise if your intention of investing in medical coding business is to start making profits as soon as possible.

With less than half the capital required to start and grow a medical coding business in the United States of America, you can successfully acquire the franchise of an established medical coding company brand in the United States of America.

So, if you want to buy a medical coding franchise, in no particular order, here are 12 best medical coding franchise companies to buy in the United States of America and the amount their franchises go for;

12 Best Medical Coding Franchise Opportunities for Sale and Their Cost

  1. AdvancedMD

If you are interested in buying a medical coding franchise in the United States of America, then one of your options is to buy the franchise of AdvancedMD. AdvancedMD is a renowned healthcare IT company in the United States of America that offers outsourced medical coding and billing services with experience and resources in a wide variety of fields. AdvancedMD’s medical coding and billing service includes access to its full software suite. It combines thorough billing services with integrated practice management and electronic health records (EHR) software.

Financial Requirements

  • Available on request
  1. DrChrono

Another best medical coding and billing service franchise that is designed specially for small practices is DrChrono. DrChrono is a well-priced medical billing service that provides users access to easy-to-use and effective electronic health record (EHR) and practice management software.

Pricing for DrChrono ranges from 4 to 9 percent of net monthly collections, typically falling around 6 percent for the company’s average client. There are no additional setup or clearinghouse fees associated with DrChrono’s revenue cycle management (RCM) service.

One of the most exclusive features of DrChrono’s coding and billing service is its hybrid plan, which is specifically designed to provide a low-cost solution to new practices that are still ramping up operations. It saves new practices the cost of hiring a certified coder, but also allows them to handle some of their billing in house to keep outsourcing costs low.

Financial Requirements

  • Available on request
  1. Kareo

Kareo is yet another medical coding and billing franchise that is up for sale in the United States of America. Kareo is a medical coding and billing service that can take much of the burden of revenue cycle management off your front office.

For a percentage of your total monthly collections, which Kareo will work to increase, your practice gets a billing service that includes claims scrubbing, submission, follow-up, denial management and access to the company’s suite of healthcare IT products.

Kareo is a strong choice for a medical coding and billing service. It handles the majority of your medical coding and billing process and keeps it compliant with changing and complicated government regulations.

Financial Requirements

  • Initial investment – Available on request
  • Royalty Fee – Between 4 to 9 percent of your monthly collections
  1. eClinicalWorks

Another good medical coding franchise that an aspiring entrepreneur or investor who is interested in starting a medical coding business via franchising should consider is eClinicalWorks. eClinicalWorks offers a full-featured medical billing and coding service that works alongside its popular practice management platform and electronic health record (EHR) software.

It is one of the most cost-effective services on the market and includes a revenue cycle management (RCM) dashboard that acts as your window into the billing team’s operations.

The combination of cost, efficiency, and transparency makes eClinicalWorks a great option for any practice, especially those that require access to a leading EHR and practice management platform at a low cost. eClinicalWorks’ suite of medical software complements its billing service and it is a cost-effective and convenient system for your practice or hospital.

Financial Requirements

  • Available on request
  1. athenahealth’s Medical Billing Service (athenaCollector)

athenahealth’s Medical Billing Service is one of the medical coding franchises available to investors in the United States of America. athenaCollector, athenahealth’s medical billing service and practice management software, offers a competitive standard of service for outsourcing your practice’s revenue cycle management (RCM). athenaCollector covers much of the billing process, from coding and scrubbing claims to following up on denied or unpaid claims.

The company uses a rules engine, which learns from every provider in its network, to cut down on recurring issues prior to submission. athenaCollector is a good medical billing service for practices of various specialties, with several great features to efficiently handle your billing process, including a billing rules engine and regular customized consultation.

Financial Requirements

  • Available on request
  1. NueMD

Another thriving medical coding franchise that is available in the United States of America is NueMD. NueMD is a company that is focuses on medical coding and billing services for small and midsize practices. The company claims it has raised revenue by 5 percent on average for its clients in the first two months of handling their revenue cycle management (RCM).

NueMD requires practices to sign a one-year contract and does have modest setup fees associated with medical billing services. Those fees vary depending on your practice’s size, specialty and volume. Its pricing is similarly variable and based on a percentage of your net monthly collections.

NueMD is a strong service that can handle many medical coding and billing tasks, and its full suite of customizable software and free assessment ensure you get the best fit for your practice’s medical coding and billing needs.

Financial Requirements

  • Available on request
  1. CareCloud’s Medical Coding and Billing Service

If you are interested in starting a medical coding business in the United States of America, then you should consider buying the franchise of CareCloud’s medical billing service. CareCloud’s medical coding and billing service is an affordable solution that plugs your practice into a comprehensive platform for electronic health records (EHR), practice management and billing.

It boasts of a high composite collection rate after following up on denials and unpaid claims, as well as full transparency into billing operations with real-time updates into outstanding claims and practice financial health. CareCloud is a thorough medical coding and billing service that offers quality service. Starting at 3 percent of collections, it is an affordable solution for any sized practice. However, CareCloud requires a lengthy service contract.

Financial Requirements

  • Available on request
  1. ChartLogic’s Medical Coding and Billing Service

Another available medical coding franchise that an investor or an aspiring entrepreneur should consider buying is that of ChartLogic’s medical coding and billing service. ChartLogic’s medical coding and billing service focuses on reducing errors that happen prior to submission to boost total revenue and reduce the number of time claims are spent in accounts receivable.

This makes it a good solution for practices that aren’t collecting as much as they could due to errors related to inexperience or an overburdened workload in-house.

ChartLogic is a complete medical coding and billing service that is especially useful for practices that want to improve their patient eligibility verification prior to the patient’s visit. It’s also good for new practices that still need insurance credentialing.

Financial Requirements

  • Available on request
  1. Iris Medical

Iris Medical is another medical coding and billing business franchise that is available for sale to interested buyers in the United States of America. Iris Medical is a small company that touts a strong first-pass claims rate and guarantees a 5 percent increase over your existing revenues when you sign up.

The company will also provide clients with full access to its own electronic health record (EHR) and practice management platform, which is designed to increase communications between Iris and its clients.

Iris Medical promises a strong first-pass claim rate to help you increase collections while reducing the burden of billing on your front office. However, its customer service and website quality is not up to par with companies in our review.

Financial Requirements

Available on request

  1. Talisman Solutions’ Medical Coding and Billing Service

Another medical coding franchise that an aspiring entrepreneur who is interested in starting a medical coding business in the United States of America via franchising should consider buying is Talisman Solutions’ medical coding and billing service.

Talisman Solutions’ medical coding and billing service puts your practice’s financials in the hands of experienced staff members who work around the clock to ensure your practice reaps the collections it is owed.

Talisman’s website might not be current, but that does not rule out the fact that it offers a good overview of its services, and the customer service department is happy to elaborate on the specifics. Overall, Talisman is a good solution for practices that want to outsource their billing department for an inexpensive price.

Talisman Solutions is a good choice for practices looking to outsource their medical coding and billing to a reliable partner with a transparent process. However, we were not able to obtain pricing information without more detailed information on our practice.

Financial Requirements

  • Available on request
  1. Claimtek Systems

If you are interested in buying the franchise of a medical coding and billing franchise in the United States of America, then you can buy the franchise of Claimtek Systems. Interestingly, you don’t need any prior experience to be able to start and operate this franchise.

Some of the benefits you stand to gain when you buy the franchise of Claimtek Systems is the possibility of earning huge return on your investment, and of course you will enjoy the flexibility to work at home, on the road, basically anywhere you have Internet access. ClaimTek is the most trusted Medical/Dental Billing business opportunity in the United States of America.

Financial Requirements

  • Initial investment – $20,000
  1. GoTelecare

GoTelecare Is yet another good option for investors and entrepreneurs that are interested in starting a medical coding business in the United States of America via franchising should consider. GoTelecare is indeed one of the topflight medical coding and billing franchise in the United States of America.

Financial Requirements

  • Initial investment – $60,000

There you have it, the 12 best medical coding franchises that an aspiring entrepreneur or investor who is interested in starting a medical coding business via franchising in the United States of America should consider buying.