Top 10 Best Mental Health Billing Services in US
Mental health providers face some of the most complex billing challenges in healthcare—from psychotherapy and psychiatry coding to telehealth modifiers and rising claim denials. Inefficient billing and revenue cycle management (RCM) can result in delayed payments, lost revenue, and increased administrative burden.
Choosing from the Top 10 Best Mental Health Billing Services helps practices streamline behavioral health billing, reduce denials, improve reimbursement rates, and stay compliant with payer requirements. Specialized mental health billing services focus on end-to-end RCM, claims management, denial prevention, and revenue optimization—allowing providers to focus on patient care instead of paperwork.
This guide highlights the Best Mental Health Billing Services, starting with the industry leader in behavioral health revenue cycle management.
This is why many practices are re-evaluating their approach and comparing Outsourced Orthopedic Coding Solutions vs. in-house teams. Below, we break down how each model performs across accuracy, compliance, cost, scalability, and long-term revenue impact—so you can make an informed decision for your practice.
Table of Contents
1. MBW RCM — The Unmatched Leader in Behavioral Health Billing
When evaluating the Top 10 Best Mental Health Billing Services, MBW RCM stands apart as a specialist provider dedicated exclusively to behavioral and mental health billing. Unlike general medical billing companies, MBW RCM brings deep expertise in psychotherapy, psychiatry, substance use treatment, and telehealth services.
MBW RCM optimizes the entire revenue cycle—from eligibility verification and coding accuracy to claims management and denial prevention—helping practices reduce costs while increasing collections. Their specialized mental health billing services are built specifically to address the unique reimbursement challenges faced by behavioral health providers.
As a trusted RCM partner, MBW RCM supports practices of all sizes with scalable solutions that improve financial performance while maintaining full compliance.
Why MBW RCM Ranks #1
50–60% reduction in billing-related operational costs
15% average increase in collected revenue
Up to 75% reduction in Days Not Final Billed (DNFB)
Deep expertise in behavioral health CPT codes, modifiers, and payer rules
What Providers Are Saying
“MBW has allowed us to grow significantly… their professionalism surpasses any U.S.-based medical billing organization.”
— Dr. Harold Z. Friedman, MD
“They were willing to learn with me about E&M coding in Psychiatry and extender codes. I’ve made a real dent in my bank loan as a direct result of their intelligent billing.”
— Dr. Steve Aronson, MD
Also Read: Key Things to Know About Mental Health Billing Services
Industry Performance Comparison
| Metric | Industry Average | MBW RCM Impact |
|---|---|---|
| Billing Operational Costs | High in-house overhead | 50–60% cost reduction |
| Revenue Performance | Flat or inconsistent | 15% increase in collections |
| Claim Denial Rates | 12%–19% | Up to 75% reduction in leaks |
| DNFB | Prolonged billing cycles | Up to 75% faster resolution |
| Productivity | Manual processes | 30% improvement via automation |
| Mental Health Expertise | General medical focus | Behavioral health specialists |
For practices seeking a long-term partner among the Top 10 Best Mental Health Billing Services, MBW RCM delivers consistent, data-backed results.
2. TheraNest (TheraBill)
TheraBill is a billing module built directly into the TheraNest EHR, making it a convenient option for solo therapists and small counseling practices. It supports electronic claims submission, payment posting, and basic insurance workflows within a single system.
However, TheraBill functions primarily as a self-managed billing tool. Practices remain responsible for denial follow-ups and revenue optimization, which may limit scalability for growing providers.
3. CollaborateMD
CollaborateMD is a software-driven billing and practice management platform known for its claim-scrubbing tools. The system helps reduce errors before claims are submitted to payers.
Because it requires active daily involvement, CollaborateMD is best suited for practices with experienced in-house billing teams rather than those seeking full RCM outsourcing.
4. AdvancedMD
AdvancedMD offers a comprehensive healthcare ecosystem that includes EHR, telehealth, patient engagement, and billing services. Its flexibility makes it suitable for large, multi-specialty organizations.
For behavioral health practices, the platform can feel resource-intensive and complex, making it better suited for enterprise-level clinics with dedicated administrative staff.
5. Kareo (Tebra)
Kareo, now part of Tebra, is popular among small to mid-sized practices due to its intuitive interface and straightforward onboarding. It offers practice management tools along with managed billing services.
Some practices report limitations when handling complex behavioral health billing scenarios, particularly with payer-specific rules, modifiers, and documentation requirements tied to Medicare mental health coverage guidelines, which demand a higher level of specialty billing expertise.
6. Athenahealth
Athenahealth uses a network-based billing model that continuously updates payer requirements across its platform, reducing compliance-related workload.
Because it serves a wide range of specialties, mental health practices may experience less personalized attention for nuanced behavioral health billing needs.
7. DrChrono
DrChrono is known for its mobile-friendly, iPad-based EHR and integrated billing services. It works well for providers who value flexibility and remote access.
Its generalist billing approach may not consistently capture advanced behavioral health coding opportunities.
8. Waystar
Waystar operates primarily as a healthcare revenue technology platform and clearinghouse. Many billing companies rely on its tools for eligibility checks, claim submission, and denial tracking.
It is best suited for practices with in-house billing teams rather than providers seeking hands-on RCM management.
9. Gentem
Gentem focuses on financial automation and reimbursement forecasting using AI-driven tools. It also offers optional faster payment features.
While innovative, Gentem places less emphasis on core billing operations such as coding accuracy and denial prevention.
10. Optum360
Optum360 delivers large-scale RCM services for hospital systems and enterprise behavioral health networks.
For independent or mid-sized practices, its size and standardized workflows may limit flexibility and customization.
📌 Why Specialization Matters in Mental Health Billing
The Top Mental Health Billing Services recognize that mental health billing differs significantly from general medical billing. Key areas of specialization include:
Psychotherapy and psychiatric CPT coding
Telehealth billing compliance
Payer-specific behavioral health policies
Proactive denial prevention and appeals
Practices working with behavioral health billing specialists consistently outperform those using general billing services.
How to Choose from the Top 10 Best Mental Health Billing Services
When selecting a billing partner, prioritize:
Proven behavioral health billing expertise
End-to-end revenue cycle management
Denial prevention strategies
Transparent reporting and HIPAA compliance
MBW RCM meets all of these criteria through its specialized mental health billing approach. To explore how leading providers compare and what sets top firms apart, check this guide on top mental health billing companies.
Conclusion
Billing is no longer just an administrative task—it’s a critical driver of financial stability and growth. As payer requirements continue to tighten, partnering with the right billing expert is essential.
Choosing the right provider from the Top 10 Best Mental Health Billing Services can transform billing from a cost center into a growth engine. By reducing operational costs, minimizing denials, and increasing collections, MBW RCM remains the top choice for long-term success.
FAQs: Best Mental Health Billing Services
Request for Information
If you’re evaluating outsourced mental health billing solutions or facing challenges with coding accuracy, claim denials, or staffing shortages, request more information from our experts today. Our team will review your current billing workflows and provide personalized guidance to improve compliance, reduce denials, and strengthen your behavioral health revenue cycle.
