Sunlight is the Best Disinfectant

October 20th, 2009 by Joann Doan

sunlight“Sunlight is the best disinfectant.”
- Louis Brendeis, U.S. Supreme Court Justice, 1916-1939

Today, I’d like to highlight one of Kareo’s greatest benefits: transparency.  If you work as a medical biller for a practice or a billing company, chances are you’ve had frustrated physicians confront you and demand more information about their practice performance.  Likewise, if you are a physician you’ve probably often struggled with getting more actionable information from your medical billers.  Openness and transparency are critical to the success of any enterprise.  While no medical billing system is perfect, Kareo works hard to give you greater transparency on your performance than any other medical billing software or practice management system on the market today.

Here are just a few of the ways you get greater transparency and insight with Kareo:

1. Web-Based Dashboards – You can’t be informed about your performance if you don’t have access to the numbers.  With traditional, on-premise medical billing software, access to your data might be limited to computers located in your billing office.  But with web-based software, you can access dashboards and financial reports from any PC with an Internet connection.  With Kareo, you can add an unlimited number of users to your account.  So you and your colleagues can access your data from home, office, or on the road.  This means you’ll be better informed about your performance and you’ll be able to address minor issues before they become more serious problems that impact your cash flow.

2. Contract Management – With all of the complexity of the insurance reimbursement process, many physicians have no idea if they are getting paid what they are owed from insurance companies.  But with Kareo, you can load fee schedules with your standard fees and contractual allowed amounts for each insurance company and use our simple Contract Management Reports to make sure you are getting paid what you are owed, when you are owed it.  This provides you the information you need to hold the insurance companies accountable.

3. Insurance Collections – Every practice management system has accounts receivable reports, but these reports alone do not tell managers what they need to know to distinguish problems related to payer delinguency from problems related to poor collections follow-up by employees.  That’s why Kareo goes beyond the typical accounts receivable reporting with our unique Insurance Collections Summary and Detail reports.  These reports show you exactly where each dollar of accounts receivable is in the process, whether they be unbilled, submitted and pending adjudication by an insurance company, rejected or denied by an insurance company, past due based on the insurance company’s contractual response time, pending patient payment, or past due by the patient.  You can also review the percentage of your total accounts receivable and average age of collectible amounts in each of these buckets.  With this information, you can pinpoint the root cause of problems in your collections process.

4. Automated Email Reports – Even if you don’t have time to login to Kareo on a regular basis, you can still stay informed about your financial performance.  With just a few mouse clicks, Kareo can be configured to automatically email you daily, weekly, or monthly reports with your key performance indicators, such as billing, receipts, A/R balance, and your average days from service to payment.  Delivered in a clear and simple HTML email format, these convenient reports help keep you in the loop about the financial health of your practice no matter how busy you may be.

I hope you’ve enjoyed this post and I appreciate you taking the time to read it.  Please join the discussion and add your comments by clicking the comments link below.

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Catching Unbilled Revenue with Kareo

October 13th, 2009 by Joann Doan

Missed Encounters Report ScreenshotHello Kareolleagues, My name is Jason McDonald, Director of Sales at Kareo.  I’d like to take a moment to introduce myself.  I’ll be one of your hosts as we navigate the Kareo waters by virtue of this big orange blog-o-raft.  As one of your hosts, I will make it my mission to provide valuable information that you can quickly act upon to improve your practice with technology and process.  However, I hope that you also find this blog fun and interesting and that you appreciate my light hearted approach.  Without further ado, let’s get this party started!

This will be one of my shorter blog posts, but today I’d like to share a ‘quick tip’ to show you how to use Kareo’s medical billing software to increase your practice revenues by ensuring that you capture all charges associated with your patient appointments.  In today’s economic climate, it’s crucial to the viability of your practice that your providers are reimbursed for all of the time they spend with patients.  While this might seem like common sense, it’s a simple fact that office managers and medical billers still have trouble reconciling appointments with billed medical claims resulting in lost revenue to the practice. 

Well, I’m happy to show you how Kareo makes it simple to reconcile appointments with billed charges.  To do so, run the Missed Encounters Report from Kareo by selecting the menu item Reports > Encounters > Missed Encounters.  The report will display a list of all appointments that have been scheduled but not yet billed.  By making this report a staple of your weekly and monthly billing process, you can rest assured that your practice or medical billing business will never lose revenue from an unbilled charge.  If you are using Kareo’s scheduler and you do not currently use the Missed Encounters Report, then start today!  You’ll be one step closer to increased collections for your practice.

I hope you enjoyed my first blog post.  I look forward to being your electronic tour guide through the Kareo blogosphere.

Read More | 1 Comment | Filed in Product

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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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