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.
You can benchmark your performance by filtering data over a week, a month, a year, or create your own custom time period.
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.
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.
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.
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.
Please note you will need to be assigned an Administrator role to have access to Billing Analytics.