Time to Vote for the August Medical Billing Tip of the Month!

July 31st, 2012 by Joann Doan

Vote on these 3 candidates for Medical Billing Tip of the Month!You be the judge for our monthly Medical Billing Tip of the Month contest! Listed below are the three top tips submitted this month (out of the many great ideas we received!). Just read them over and then post on our Facebook page which number is your choice for Medical Billing Tip of the Month. You can also post your choice in the Comments box here on our blog. Either way, be sure to vote before the deadline of Wednesday, August 7! The winner will receive a $250 American Express Gift Card and the acclaim of their peers. Here are the candidates:

1. Using Insurance Collection Summary Report to Increase Provider Cash Flow Effectively

We are using the Kareo insurance collection summary report to work on the High Dollar claims, Old Aging claims, Top 10 payers aging, etc. Here is the report customization for your reference.

Go to Reports -> Accounts Receivable -> Insurance collection summary -> use “Customize” tab to obtain the reports per your Priority. Please customize the option as described below:

Age:             30+

Status:          All

Grp By:          Patient

Sub Grp By:   Patient

Sort by:  Balance

 Using the Insurance Collections Summary is one of the candidates for Medical Billing Tip of the Month

Report Format:

Use the Insurance Collection Summary Report to Increase Provider Cash Flow Effectively is One of the Medical Billing Tip of the Month Candidates

First report: You will get a report based on the Patient total value by Descending to Ascending order. Once the report is generated, we can start attacking the High dollar claims to get the best reimbursement for the provider. The provider will be very concerned about his High dollar value claims which have been submitted to the carrier. By generating and working on this report, we can increase the payment flow of the provider drastically. The output of the report will be generated as mentioned above format. The Top 100 patient claims will cover most of your insurance aging. By working on these claims effectively, you can see a drastic change in the payment flow.

Second report: Use the same report, by changing the “Group By” status to “Insurance Plan.”  The report gets sorted based on the Total outstanding aging for a payer by Descending to Ascending value of claims for a particular payer. By using this report, we can work on the Top 10 payers’ aging and reduce the aging of particular payers effectively.

Third reportUse the same report, by changing the “Subgroup by” status to “Insurance Plan.”  The report generates the patient claims which have High Dollar value, including the payer name.

Note: By using the collection summary report effectively, cash flow for the provider will increase effectively and we can concentrate on high billed claims. We can reduce the high value claims moving to 60+ aging. Please make use of this report to improve your cash flow.

 

2. Billing Miscellaneous Codes on a Separate Encounter

My billing tip is to bill any miscellaneous codes on a separate encounter.  That way the office visit or other services that have specific codes can go through effortlessly while the miscellaneous code gets stopped for review.  This method has reduced my claim processing by approximately half for claims that would have included a miscellaneous code. 

 

3. Calculating Total Rejected Claims by Numbers and Amount for a Month & Reducing Them

To run a rejected claims report with # of claims and by value, we need to manually check all the clearinghouse reports for the month received to find the total rejected claims.  However there is a possible way to find only the rejections count and total in clearinghouse report. Here’s how:

Go to Clearinghouse report -> select Claim processing section – > Type R: in the look for tab -> Find now.

Now you see list of claims submitted in Claims column and Rejected claims in the second column (Only Rejected claims clearing house reports – 20 line items in a page).

For example: The claims submitted are 22 and rejected 4, the total value of the rejected is mentioned as R:4 / $2914.00. The number and value mentioned in the same line. Please see the highlighted. ( P 18 – accepted claims & R: 4 – Rejected claim).

Calculating total rejected claims is one of the candidates for Medical Billing Tip of the Month

Conclusion: You can use this simple exercise to calculate the total rejected claims for a month and take necessary action to avoid such rejections in future months. We are using this to control repeated rejections and educating the team effectively to avoid the same error in future. This also helps us to improve the “First pass ratio” percentage. Avoid the Duplicate rejection count showing the report while calculating.

Which tip is your top choice? Vote now on our Facebook page or in the Comments box on this blog. You have until Wednesday, August 7, to vote! We’ll announce the winner in our August newsletter.

Read More | 160 Comments | Filed in Events, Features

Evolve: Powered by WebPT

July 25th, 2012 by Joann Doan

Evolve Logo

Attention all Physical Therapists! We’re going to Long Beach! Spend a half day brainstorming and networking with therapy experts and WebPT staffing on how to grow and improve your practice and increase revenue and patient flow.  Take advantage of this opportunity to develop strategies and build new working relationships and partnerships.

Here’s what the day is going to look like:

12:30pm Registration / Exhibit Demos

1:30om – 6:00pm Educational Sessions with topics ranging from Key Strategies To Help You Succeed, Ten Billing Tips for Better A/R Management to The Evolution of Compliant in the Outpatient Physical Therapy Setting.

Speakers include: Co-Founders of WebPT Heidi and Brad Jannenga, Tom Ambury of The PT Compliance Group, Robin Roach, CHBME, CMRS, WebPT Director of Billing Services and National Billing Expert and more!

7:00pm Cocktails & Hors d’oeuvres Hosted by yours truly, Kareo!

We hope to see you there!

Details:

Register: http://evolvelb.eventbrite.com/

Date: Thursday, July 26, 2012

Location: The Hyatt Pike at Rainbow Harbor

Address: 285 Bay St., Long Beach, CA 90802

Time: 12:30pm – 7:30pm PDT

Stay connected on Social Media! Hashtag for Evolve event is #EvolveLB2012

Like us on Facebook, Follow us on Twitter and be a member on our LinkedIn Group!

Read More | No Comments | Filed in Company, Events

New Kareo Release Fine-Tunes Zip Code Data Entry and Improves Links to Online Help Center

July 23rd, 2012 by Joann Doan

On Friday, July 20, Kareo issued a new release featuring several enhancements, including an improvement in zip code validation and new links to the Help Center from within Kareo.

4-Digit Zip Code Validation

Medical practices and billing services across the country are still adjusting to inclusion of the 9-digit zip code required by 5010.

To assist with finding the right zip code, Kareo will now automatically populate the 4-digit zip code extension when the Address, City, State, and 5-digit zip code are entered.

Read more

Help Center Links From Within Kareo

We’ve upgraded and merged the old help files with the new Help Center. Now you have one, centralized area to access training material and how-to information.

With the new Kareo release, when you launch “Help” using the ‘F1’ key, a refreshing, easy-to-read and easy-to-navigate screen will display (see adjacent picture). When you launch “Help” using the ‘F1’ key, a refreshing, easy-to-read and easy-to-navigate screen will display (see adjacent picture).

Read more

 

 

 
Other Fixes
Below are a few additional tweaks made in Kareo for the July release:

  • Fixed the validation error message related to “From Date” in UB-04 on the Encounter Screen
  • Corrected spelling error in the Customized Adjustment description in the Denial Details report
  • Added extra validation for Account IDs in the patient payment portal
  • Corrected time-zone date error
  • Fixed patient balance discrepancies between the Account tab and Encounter Form data
  • Corrected the Ambulance indicator in ANSI
  • Changed the revenue code in UB-04 form to be 3-digits
  • Fixed patient statement not populating in the Notes field

Help Center Updates
How-To Articles

Updates were made to a hand-full of How-to Articles including:

  • Procedure Codes
  • Procedure Modifier Codes
  • Procedure Categories
  • Diagnosis Codes
  • Adjustment Codes
  • Employers
  • Payer Scenarios
  • Collection Categories

Thank You!

As always, we continue working hard to make medical billing easy for you. Customer feedback drives our service and ensures we build the features that matter most to people like you, so your input is critical to us.

Please submit your suggestions, challenges and ideas for our next release – Give Feedback.

Read More | No Comments | Filed in Releases

Your Best Medical Billing Tip Could Win You $250 in Our Monthly Contest!

July 23rd, 2012 by Joann Doan

Enter our Medical Billing Tip of the Month contest by July 25 and you could win $250!The winner of our July “Medical Billing Tip of the Month” was David Beckett of EccoHealth LLC. Read the winning tip now.

It will soon be time to choose our August Medical Billing Tip of the Month, and we wanted to remind you to submit your best billing ideas so you have a chance to win $250. You have great odds — every month, we’ll select one tip (or two!) that offers the most upside for practices trying to improve their collections and bottom line, and the winner will receive an American Express gift card for $250.

And remember, you choose the winner: We’ll post the top 3 entries on our Facebook page, and you can vote on the one you think is best! Don’t miss your chance to vote for the Billing Tip of the Month!

Once the winner is selected, we’ll publish your tip on our website and our monthly e-newsletter and give you credit with a byline that includes your name and company. So you not only win a prize, you’ll also get free publicity for your billing service or practice in front of thousands of providers and colleagues.

To enter, just send an email to Marketing@Kareo.com and describe your billing tip in 500 words or less. Include any experience and results you’ve had with using this tip, and that will enhance your chances of winning. The tip can include processes, forms, better ways to utilize Kareo features…the field’s wide open. The tip does NOT have to involve Kareo necessarily; we just want to tell our customers how to improve their billing and bring more to the bottom line.

To enter for the month of August, please submit your tip by Wednesday, July 25, 2012.

We look forward to reading your tips and awarding the prize. Good luck!

Read More | 2 Comments | Filed in Company, Events

July Issue of the Kareo Getting Paid Newsletter Features Strategies for Effective Appeals, More

July 19th, 2012 by Joann Doan

The July issue of the Kareo Getting Paid newsletter, out this week, features great articles on subjects including how to file effective appeals, a nine-step plan for better practice collections, and much more. Take a minute to review these useful articles and also be sure to subscribe to the newsletter so you receive it in your inbox automatically. The articles featured included:

Learn how to improve your appeals and more in the latest issue of the Kareo Getting Paid newsletterIn This Issue / July 2012

Strategies to File Effective Medical Billing Appeals – and Get Paid

By Elizabeth W. Woodcock, MBA, FACMPE, CPC

Expert Elizabeth Woodcock advises how to get your medical billing appeals program in gearIf it seems like you’re bleeding money in the billing office, then it’s time to get your medical billing appeals program in gear.

Read more

Complimentary Webinar: Effective Appeals in Medical Billing – Breaking Through the Barricade to Get Paid

Thursday, July 26, 2012
10:00 AM PDT / 1:00 PM EDT
Speaker: Elizabeth W. Woodcock, MBA, FACMPE, CPC

Register Now

Learn how to determine when a denial needs to be appealed, how to develop an effective appeal letter, and more in this complimentary webinarIn this fast-paced, informative webinar, you will learn:

•  The three-step process to determine when a denial needs to be appealed
•  How to build your case to create a successful appeal
•  Key phrases to include in an appeal letter to get your denial overturned
•  And more

Your Nine-Step Plan to Better Practice Collections, Part I

By Betsy Nicoletti, M.S., CPC

All practices want to collect every dollar they can, legally and within their contracts. This two-part series identifies nine steps to take to increase practice collections.

Read more

Staying on Top of Business Trends to Protect and Build Your Medical Practice

By Laurie Morgan

Planning for ways to reach new patients is one way to protect and build your medical practice.  Another important step is to…

Read more

Kareo Medical Billing  Software Demo Webinar: How to Streamline Your Medical Billing

Learn how to streamline your medical billing and bring more to the bottom line in this demo webinarLearn how Kareo medical billing software can make your medical billing easier and improve your profitability in this one-hour demo webinar featuring Q & A.

Read more

 

Medical Billing Tip of the Month

AR Categorizing Using Batch Number
By David Beckett
EccoHealth LLC

Case Studies

Office manager Reina Perdomo says, “Kareo has saved us quite a bit of time and has been very efficient for our practice.” “Kareo has saved us quite a bit of time and has been very efficient for our practice.”
Reina Perdomo
Office Manager
Arthur Weinreb, DPM

Billing consultant Cynthia Castro says, “When code set 5010 became the billing standard, some of my practices lost thousands of dollars because their software wasn’t ready. But my clients on Kareo saw no interruption in billing or payments." “When 5010 became the billing standard, some practices lost thousands of dollars. But my clients on Kareo saw no interruption in billing or payments.”
Cynthia Castro
Castro Consulting

Top News & Ideas from Industry

Medicare Previews Pay Increases and Cuts for 2013

Charles Fiegl, Amednews, July 16, 2012
The program’s physician fee schedule details a new care coordination service but also outlines potential additional reductions through a quality payment modifier…
Go to Article

Health Plans Look for Fraud Before They Pay Claims

Emily Berry, Amednews, July 16, 2012
Fraud detection systems are replacing retrospective processes, but “false positives” continue to delay legitimate claims…
Go to Article

5 Potential ICD-10 Related Financial Issues

Steff Deschenes, Healthcare Finance News, July 9, 2012
As healthcare organizations prepare for the ICD-10 conversion, everyone knows there will be challenges. And financial managers are not likely to make it through unscathed…
Go to Article

AMA Releases Midterm CPT Code Changes

AAPC News, July 13, 2012
The American Medical Association (AMA) released a host of mid-term CPT® code updates July 1. Among the new releases are…
Go to Article

How to Avoid Turning Over Patient Accounts to a Collection Agency
Victoria Stagg Elliott, Amednews, July 16, 2012
Sending patients’ overdue bills to a collection agency can be bad for a physician’s reputation and may not gain the practice that much financially…
Go to Article

Fear of EHRs Being Wrong Leads Doctors to Code E&M Services Manually
Pamela Lewis Dolan, Amednews, July 9, 2012
Despite the fact that most EHRs can assist physicians in assigning codes for evaluation and management services, most Medicare physicians still do it manually…
Go to Article

CMS Releases 2013 Update ICD-10 PCS and GEMs
Carl Natale, ICD10Watch, July 2, 2012
The Centers for Medicare & Medicaid Services (CMS) released the 2013 update of the ICD-10 PCS and GEMs. It’s 10 files of various sizes and complexity…
Go to Article

10 Statistics on Payors Dropped by Physicians Since 2009
Laura Miller, Becker’s ASC Review, July 5, 2012
Here are 10 statistics on the payors physicians have dropped over the past two years, according to Medscape’s Insurer Ratings Report
Go to Article

How Medical Coders Can Adjust to the ICD-10 Delay
Carl Natale, ICD10Watch, July 12, 2012
For the most part, healthcare organizations appreciate an extra year to work on the ICD-10 transition. But Kevin McDermott found medical coders don’t…
Go to Article

How to Get Patients to Pay Their Bills

Victoria Stagg Elliott, Amednews, July 9, 2012
When it comes to asking patients for payment, medical practice consultants say this should be done early and often. But an effective collection strategy isn’t just about asking over and over again…
Go to Article

We hope you enjoy this issue of the newsletter. Be sure to subscribe now to the Kareo Getting Paid newsletter in order to insure you receive future issues.

Read More | No Comments | Filed in Company, Events

About This Blog

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.

Subscribe

Enter your address to receive e-mail updates:

Categories

Monthly Archives