Introduction
Studies show that nearly 25% of mental health practices experience significant revenue loss due to improper billing management. As a mental health provider, your time and energy should be focused on patient care, but effective billing is essential for your practice’s long-term financial health. Revenue Cycle Management is key to ensuring stability. With complex authorization requirements, specific coding needs, and varying payer policies, mental health billing requires specialized knowledge.
In this article, we’ve outlined the top 10 billing services designed specifically for mental health professionals. Whether you’re working solo or overseeing a larger practice, selecting the right billing partner can significantly boost your financial performance.
1. TherapyNotes Billing Services
Headquarters: Horsham, Pennsylvania
TherapyNotes standout as they are focused on behavioral health. TherapyNotes offers a purpose-built platform with deep understanding of mental health CPT codes and modifiers. Their 98% clean claims rate speaks volumes about their expertise.
TherapyNotes delivers complete revenue cycle management including electronic claims submission, insurance verification, denial management, and authorization tracking. They prevent revenue leaks before it happens with the help of their real-time eligibility verification and authorization expiration alerts.
Pricing Model:
- Percentage-based fee structure (typically 5-8% of collections)
- Volume discounts for practices with multiple providers
- Bundle discounts when combined with TherapyNotes EHR
- No setup fees
2. Kareo Mental Health
Headquarters: Irvine, California
Kareo dedicates behavioral health billing specialists to the account and boasts an average 7% increase in collections for the new clients. What makes them effective is their 96% clean claims rate and strong knowledge of mental health parity laws.
Their overall services include specialized mental health billing, claims preparation, authorization management, and patient billing. Their advanced claim scrubbing is specifically designed for mental health claims, catches errors before submission, and their mobile app helps to check claim status on the go.
Pricing Model:
- Percentage of collections (typically 4-7%)
- Tiered pricing based on monthly claim volume
- Discounts available when bundled with Kareo EHR
- No long-term contract requirements
3. Valant Medical Solutions
Headquarters: Seattle, Washington
Valant medical solutions are built especially for behavioral health. Their specialists have over 10+ years of experience in mental health billing. Their total outcome measures support value-based billing, and their clinical documentation effortlessly connects to proper billing practices.
Their service chain includes specialized behavioral health billing, electronic claims tracking, ERA processing, authorization management, and customized fee schedule management. Their real-time eligibility verification and automated alerts for authorization expirations helps them to maximize reimbursement.
Pricing Model:
- Percentage of collections (typically 5-8%)
- Volume-based pricing tiers
- Discounted rate when combined with Valant EHR
- Implementation fee may apply
4. TheraBill by WebPT
Headquarters: Phoenix, Arizona
Being specialised in both mental health and rehabilitation billing, TheraBill shines with cross-disciplinary requirements and complex claims. Their 95%+ clean claims rate and deeply knowledgeable account managers provide personalized attention without requiring any long-term contracts.
Their full-service approach covers mental health billing, claims submission, denial management, authorization tracking, and telehealth billing support. Regular performance review meetings are done to make sure that your practice stays financially optimized.
Pricing Model:
- Percentage of collections (typically 5-7%)
- Tiered pricing based on claim volume
- Lower percentages for established practices
- Setup fee may apply
5. Practice Management
Headquarters: Boston, Massachusetts
Practice Management focuses on private practice mental health providers by taking a high-touch, consultative approach. Their extraordinary 70%+ denial appeal success rate and lower client-to-account-manager ratio assures that your practice receives personalized attention.
Their services include billing, claim tracking, insurance verification, provider credentialing, and coding compliance support. Regular provider meetings are done to review metrics that lets you stay informed about your practice’s financial health.
Pricing Model:
- Percentage of collections (typically 6-8%)
- Minimum monthly fee may apply for very small practices
- Flat rate options available for high-volume providers
- No setup fees or long-term contracts
6. Gentem Health
Headquarters: San Francisco, California
Gentem health, a technology-driven service that uses AI-powered claim scrubbing specific to mental health, greatly reducing time-to-payment to an average of just 14 days. Their modern dashboard provides transparent performance metrics and actionable insights.
Gentem delivers end-to-end revenue cycle management with advanced analytics, upfront patient cost estimation tools, and quarterly business reviews. Their support for alternative payment models positions them well for the future of mental health reimbursement.
Pricing Model:
- Percentage of collections (typically 5-7%)
- Performance-based pricing options available
- Volume-based tiered pricing
- No long-term contract requirements
7. Psychiatry Billing Solutions
Headquarters: Chicago, Illinois
With a wide focus on psychiatric billing, this service brings great expertise in E/M coding, medication management, and psychiatric testing reimbursement. Their specialized knowledge of consultation codes and psychiatric diagnostic coding is incomparable.
Their services include specialized psychiatric billing, E/M coding optimization, contract negotiation assistance, and audit preparation support. Their expertise with partial hospitalization program billing and hospital-based psychiatric services adds a value for certain practice models.
Pricing Model:
- Percentage of collections (typically 6-8%)
- Minimum monthly fee based on practice size
- Additional fees for specialized services
- Implementation fee may apply
8. Therapy Partner
Headquarters: Denver, Colorado
Being focused on psychotherapy billing, Therapy Partner offers a purpose-built platform with a simplified user interface designed specifically for therapists. Their expertise with EAP billing challenges and support for sliding scale arrangements are value adding.
Their comprehensive services include full-service billing, patient statement processing, integrated practice management software, and a client portal with payment functionality. Their quick implementation process (typically 2-3 weeks) helps you work faster and better.
Pricing Model:
- Percentage of collections (typically 6-7%)
- Monthly software fee in addition to billing percentage
- Discounted package pricing available
- No setup fees
9. Horizon Health Billing Services
Headquarters: Nashville, Tennessee
Specializing in mental health billing, Horizon outshines with diverse payer mixes and has deep knowledge of regional payer policies. Their 75%+ success rate with denied claim appeals and expertise with state Medicaid billing make them valuable for certain practices.
Their comprehensive services include prior authorization management, fee schedule optimization, compliance monitoring, and support for multi-state practices. Regular performance review meetings are done to make sure your billing operation stays optimized.
Pricing Model:
- Percentage of collections (typically 5-8%)
- Tiered pricing based on monthly claim volume
- Discounts for group practices with multiple providers
- Additional fees for credentialing services
- Practices requiring strong denial management
10. SimplePractice Billing Services
Headquarters: Los Angeles, California
SimplePractice with integration to their popular EHR offers a user-friendly interface designed specifically for mental health providers. Their strong support for insurance and self-pay hybrid models and real-time claim status tracking eases practice management.
Their mental health-focused billing services include eligibility verification, denial management, automated patient statements, and superbill generation for out-of-network providers. Their documentation templates ensure proper billing support from the start of the care process.
Pricing Model:
- Percentage of collections (typically 6-8%)
- Discount when bundled with SimplePractice EHR
- Volume-based tiered pricing
- No long-term contracts required
Conclusion
The right medical billing service does more than just process claims—it becomes a strategic partner in your practice’s financial success. By selecting a partner with mental health expertise, you can improve reimbursement, reduce administrative burden, and refocus your energy where it belongs: on providing care to your patients.
By carefully evaluating each service’s mental health-specific capabilities, authorization management processes, payer knowledge, technology integration, performance metrics, compliance expertise, and practice model support, providers can identify a billing partner that truly understands the nuances of behavioral health reimbursement.
With the right billing partnership, mental health practices can navigate the complex reimbursement landscape while remaining focused on their core mission: providing quality care to individuals in need of mental health services. The time and resources saved through effective revenue cycle management can be redirected to clinical care, ultimately benefiting both providers and patients.