Accounting software for doctors is a must-have for medical professionals. Doctors in particular need to keep track of their time, work hours, and patient information. Many accounting software options on the market can help with these tasks without costing you a fortune.
Our Top 5 Accounting Software For Doctors
Best Accounting Software For Doctors Reviews
1. Best Overall: Sage Intacct
Sage Intacct is a cloud-based financial software that helps doctors manage their money and finances. It provides various features that doctors need to keep track of their health care costs, daily practice activities, referrals and offers business management tools for doctors.
Intacct helps healthcare professionals achieve financial management goals the most efficiently and profitably possible. It’s the only platform that accounts for healthcare-specific workflows, expenses, and analytics. In addition, Sage Intacct works with the most popular accounting software to empower physicians at all stages of their careers.
Benefits of Sage Intacct for Doctors
This software has a lot to offer doctors and other healthcare professionals. It tracks doctors’ finances more efficiently than paper records. Furthermore, it also helps keep track of all income and expenses and provides valuable reports that can be submitted easily when requested by the Internal Revenue Service (IRS).
2. Best for Small Business: SimplePractice
It can be challenging for doctors and finance professionals to manage accounts that are as complex as they are. They have a lot of different types of revenue, but with the level of detail required for each type, managing these finances is not always easy.
Fortunately, a solution company like SimplePractice offers accounting software that helps you streamline your bookkeeping. So when you need to bill your patients, payout prepare and payout an invoice, or even run a simple tax return in a doctor’s office, this software is a great solution.
It offers many features that cover almost all of the simple tasks you will need to do daily. However, tasks you will generally do in your bookkeeping software, SimplePractice has distinct features to protect them:
- Billings for the patient – There is a very intuitive system that will allow you to add your patients and create invoices. You can customize the invoice using pre-written formats and easily add services and prices.
- Billing Statements – SimplePractice allows you to create two statements that will go out stating what was paid for and what it was worth. In addition, you will be able to customize the delivery of the statements so that they will go out via email, printer, or even fax.
- Payments – The software has a straightforward yet powerful payment management system that allows you to track your billings and payments. When patients make payment, it automatically updates your ledger with the payment received date, amounts received, and any notes you add for this specific payment.
- Taxes – You can easily manage all aspects of tax filing from within SimplePractice. There is an easy way to upload your data to get a quick estimate on how much tax you need to pay.
3. Best Easy-to-Use Features: Xero
Are you a physician looking to improve your workflow? Xero is a business accounting software designed for doctors.
Here’s what you need to know:
- It assists physicians in staying on top of their financials, billing and collections, and payroll.
- It’s all backed up by friendly support that can easily be reached by phone.
- Xero has an online platform that can help docs streamline their practice and increase productivity.
- Its cloud approach means data will always be available, even if the office goes dark during a disaster or power outage.
- It integrates with the software you already use so that you can view and manage all your data in one place.
- The software is sleek, intuitive, and visually appealing.
- It’s used by over 100,000 small businesses around the world, including many physicians’ offices.
- Xero is designed to scale up to meet growing businesses’ needs.
4. Best Customizable Option: TheraNest
You may want to consider writing a review for TheraNest Accounting software. This is easy-to-use accounting software designed for doctors and medical professionals. TheraNest is software that can be downloaded for Windows, Mac, and Linux computers. There are many features to this product, like multiple patients in one patient account, unlimited cash accounts, and patient year-end closing reports.
It may also benefit you if you need accounting software to help keep track of hours worked, billable visits, mileage, and charges from different patients or organizations. TheraNest has been tested by doctors for more than a decade on millions of medical documents.
With all these features integrated into one product, it will make your life easier and less time-consuming, unlike other software products out there such as Excel spreadsheets or Quickbooks.
5. Best Customer Support: RXNT
The RXNT accounting software for doctors is a new and improved accounting system that helps medical professionals manage their finances, payables, and receivables in one place. With features like real-time updates for your finances, accounting software built in to keep your financial records up to date, and mobile accessibility with the help of the RXNT app, managing your practice has never been easier.
Main RXNT Features
- Real-time updates: With this feature, you can stay on top of all changes in spending habits. Whenever a financial transaction is completed, you will be notified immediately.
- Accounting software: At the center of the RXNT accounting software is an accounting system that automatically records all financial transactions, from the initial booking of patients to payments made and received.
- Payroll system: Included in the accounting software is a payroll system that takes all the guesswork out of salary calculations, ensuring that you pay yourself and your employees in accordance – both with federal and state laws as well as with your policies.
Buyer’s Guide
Before you buy accounting software for doctors, there are a few factors to consider. First, you need to decide whether you want desktop or web-based accounting software. Desktop computers are more expensive and often harder to use, but they allow more flexibility to manage your information. Then there is the question of whether you want a cloud-based, online service or software that will connect directly into your business.
Second, factor in how much it will cost you for the accounting software and any monthly charges associated with using it.
Third, do some research on the different types of medical practices that use computers extensively and find out which ones might benefit from using an accounting program.
FAQ
What Is Healthcare Accounting Software?
Healthcare accounting software helps medical offices be more efficient and accurate. The software tracks patient data, income, and expenses so that these tasks don’t take up the valuable time of the doctors or office staff. In addition, Healthcare accounting software can help your clinic’s bookkeeping and improve cash flow by providing instant data on what has been paid and what hasn’t.
Which Accounting Software Is HIPAA Compliant?
Many accounting software does. For example, HIPAA compliant, including QuickBooks, Sage 50 Accounting Software, and Peachtree Complete Accounting Software.
What Is The Most Commonly Used Accounting Software For Doctors?
Doctors can use many different accounting software programs. The program was designed with business management in mind and caters to Doctors’ needs, such as robust reporting options and customer support.
