Kareo Medical Billing’s New Billing Analytics Gives More Insight into Practice

April 26th, 2016 by Kareo

In April, your Kareo Medical Billing account was updated to include Billing Analytics, which gives you more insight into your practice. You can drill down into the details, identify any weak spots, and take action to keep your practice in good financial health.

Kareo Billing Analytics informs your decision-making with a focus on your specific needs. Get insights into your patient visits, billing, collections, and accounts receivable.

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Filters

You can benchmark your performance by filtering data over a week, a month, a year, or create your own custom time period.

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The date filters enable you to view your billing analytics for the following date ranges:

  • 1w – Last complete week
  • 1m – Last complete month
  • 6m – Last complete 6 months
  • 1y – Last complete year
  • MTD – Month to Date
  • Other – Last 12 complete months

For more on filters, read the full release notes.

Analytics by Section

The “Top of Mind” section displays your billing performance indicators at a glance when you don’t have the time to carefully study dense reports. You can easily scan high level financials and compare them to defined prior periods. You can also see patient visits, gross charges, collections and accounts receivable. For more details on each area, read the full release notes.

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How much did I bill?

The “How much did I bill” section calculates your gross charges and gives you better insight into productivity, potential backlogs, and more. You can view your total gross charges, average gross charges per encounter, and your top procedures by gross charges. For more details on this section, read the full release notes.
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How much did I collect?

The “How much did I collect” section calculates your total collections and allows you to compare reimbursement levels by payer so you can actively manage your payer mix. For more details on this section, read the full release notes.

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How much is outstanding?

The “How much is outstanding” section tracks your accounts receivable balance so you can better identify any potential problems and quickly fix the root cause. See how your Days Revenue Outstanding is trending, and learn what payers have the highest A/R amount. For more details on this section, read the full release notes.

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Security/permissions

Please note you will need to be assigned an Administrator role to have access to Billing Analytics.

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Get the Scoop on How Video Is Being Used in Healthcare Practices

April 26th, 2016 by Kareo

The use of social media and the building of a strong online reputation are hot topics in healthcare these days. There are many pieces of the online presence puzzle and video is one of them. In this week’s #KareoChat on Thursday, April 28 at 9 AM PT,  @GetSocialHealth will lead a conversation on using video as one of the tools to showcase a practice and build a strong online reputation.

 

 

 

Here are the chat questions to help you prepare your thoughts and join the conversation.

  1. As a healthcare practitioner, have you embraced video or are you still at the social media starting gate?
  2. Have you created or shared video to educate your patients? Why or Why not?

  3. How can video be used in email marketing campaigns?

  4. Have you investigated or used any live video channels (Periscope, Blab, Facebook Live)?

  5. What benefit do you see coming from video versus a traditional blog?

  6. What do you think is keeping physicians and small practices from embracing video?

Bring your questions, post them to #KareoChat ahead of time, or tweet them to the hosts @GetSocialHealth and @GoKareo. Hope to see you there!

About the Host

Janet Kennedy is a 20+-year marketing and social media professional and is the Host of the “Get Social Health” podcast sharing best practice stories and interviews about social media in healthcare. Janet has interviewed medical futurists, healthcare practitioners and ePatients, digital health advocates, and entrepreneurs. She is the founder of the Get Social Health Academy, a coaching and eLearning consultancy producing online courses for Healthcare Associations, Medical Societies, and private practices. In June 2016 Janet will be launching “Social Content Solutions” and an educational membership site to support the healthcare practice providing social media content and marketing education.

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Find Out What the Experts Had to Say on Telehealth and Physician Revenue

April 22nd, 2016 by Kareo

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Come Say Hi To Kareo at Pri-Med West

April 21st, 2016 by Kareo

Pri-Med West is in Anaheim April 28 – 30 and Kareo will be there!

Stop by booth #465 at Pri-Med West and say hi to the Kareo experts who will be on site. It’s a great chance to talk one-on-one with them and get an personal demo. You can see our affordable, easy-to-use software in action, and get all of your questions answered. The Kareo team can provide information on Kareo Practice Management, Kareo EHR, and Kareo Billing Services as well the Simple Start Program for new practices that provides an all inclusive package of software and services for one low flat monthly fee.

Already a customer? We’ve got a little something for you too. If you are a Friend of Kareo or would like to be, let a Kareo staff person know and get your free gift! If you aren’t a Friend of Kareo yet, you can sign up at the booth and get a free gift.

Hope to see you there!

 

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HCMS Improves Efficiency for Staff and Customers with Kareo

April 21st, 2016 by Kareo

Kris Jones, CEO of Healthcare Management Systems (HCMS) is no stranger to medical practice management. She started her company nearly 35 years ago providing consulting services to independent medical practices. It quickly grew into much more.

“It wasn’t long before we realized that we were making suggestions to physicians about how to best start or run their practice, but they didn’t have the staff or leadership to implement our recommendations,” recalls Kris. “To address this problem we started offering billing and other services, and the business grew from there.”

The business was growing, and it was going well. They had a billing system they were happy with, and their customers were referring more customers. However, after 20 years, the system they had been using just wasn’t keeping up with the changing times.

“As technology was changing and advancing they were slow to adapt,” says Kris. “They spent years transitioning from DOS. At the same time, the support wasn’t very good. Our customers would be having issues, and we’d have trouble getting support to resolve the problem.”

Kris decided to make a change, and began doing research on new systems. Ultimately, it was the feedback from another billing company of a similar size that sealed the deal with Kareo. Ami Tucker, Director of Revenue Cycle Management, met with the reference over lunch and discussed their experience. “They were comparable to us in a lot of ways, and they were very happy with their Kareo system,” she says.

Kris and Ami agree that they have been very pleased with their choice. “Our biggest concern after our past experience was having adequate support,” says Kris. “We always get quick support and help from Kareo so we can keep working.”

“What I love about Kareo is that it gives us the global dashboard view of all customers and what tasks need to be addressed,” explains Kris. “I’d say we live on tasks and absolutely love them because they are so helpful!”

To take it one step further, Ami and Kris have created customized end-of-the month reporting that they can use for ongoing internal analysis of their processes to make continuous improvement. “We ask our Account Managers to do this extra reporting at the end of the month, and they use Kareo data to do it,” says Ami. “We look at things like outstanding tasks and oldest task date for both employees and customers, how many ERAs are unposted, denial rate, etc.”

“We provide an elevated approach to billing and customer service,” Kris says. “We are actively looking at and evaluating our customers’ success and seeking out new revenue opportunities for them. The combination of Kareo and our staff allows us to do this effectively.” It also allows them to meet the needs of a diverse group of practice types. As a result, HCMS is continuing to grow, building a strong reputation in new markets like concierge medicine where others may fear to tread.

To learn more about how HCMS is using Kareo to grow and succeed, read the full case study.

 

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Welcome to Building Kareo, a weblog by the team at Kareo about our products, our partners & competitors, medical billing, healthcare information technology, and much more.

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