Get the Most from Kareo Key Indicator Report

December 17th, 2014 by Kareo

By Kathy Young, CPC, CPMA

All over social media people are taking selfies. These are snapshots of ourselves smiling, frowning, or doing something… well, doing something. If a selfie is good for the person, the Key Indicator Summary Report, found in Kareo, is great for any medical practice. You will find this report under Report>Key Indicators>Summary.

Kareo KPI report

I have several ways that I like to view this report. For a month-end report, I will choose in ‘dates’ to look at ‘previous month’. Who is looking at the report will greatly effect what is important. A provider may look at the encounter numbers and divide it with the charges to get an average of charges for the month. The A/R balance can be seen here; but, even better is that you can drill down into the information to get greater detail. You can also view your refunds, and again, you can drill down to find out exactly who you refunded that month. The drilling down capability of Kareo is the feature I love most.

But, here is what I love most about this specific report. I love to run this report by looking at a 12-month period of time. Under dates, you can customize to whatever dates you wish because under the tab called ‘customize’ you can make selections that will make your report truly useful. Under ‘columns’ I choose ‘month’.  This gives me a year’s worth of data but it is in columns of months. You could take this information and put it into a spreadsheet then graph certain parts or you can extract the data however it is useful to you.

When I look at this report of a practice by the year or even two years, the report begins to tell the story about what has happened in the practice over this period of time. For instance, if you look at the encounters over a year’s time, you begin to see that the growth of the practice has stagnated, grown, or shrunk just based on encounters. As you review this information and compare month to month the receipts compared to charges, you may find trends that will be useful in making decisions. If your charges have grown, has your income grown? If income has grown has your A/R stayed the same or has it also grown? You can drill down into the data in order to see the specifics. An example would be the A/R total. You can drill down and see your insurance and your patient aging and then you can drill down farther and find out who has not paid and how old the claim is. Better yet, you can continue to drill down to the specific patient and date of service and review notes or other indicators that your staff or billing office has been working your claims.

There are so many ways to use the Key Indicator Summary Report. I have just touched on the possibilities here. Mess around with it a bit to see how you can use it to help improve your own billing or planning in 2015.

About the Author

Kathy Young

Kathleen Young is the CEO and co-founder of Resolutions Billing & Consulting, Inc., which was founded in 2003. Kathleen is also the owner of Healthcare Chart Audits, which offers auditing to physicians and attorneys. Kathleen has been in healthcare since 1989 and has worked for physicians, large corporations and three billing companies. Kathleen is a CPC and a CPMA with the American Academy of Professional Coders and speaks to many groups on coding, billing, and auditing.

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Free Webinar: Discover What’s Coming for Medical Billing in 2015

December 15th, 2014 by Kareo

Register NowGetting Paid in 2015: What You Need to Know
Wednesday, December 17, 2014
10:00 AM PT, 1:00 PM ET

Learn tactics to improve your bottom line in 2015! 

Are you wondering how the Affordable Care Act, ICD-10 and the government’s value-based modifier will affect your practice in 2015? This is no time to go into retreat mode. In this high-energy educational webinar, national speaker and author Elizabeth Woodcock highlights the key changes in medical billing in 2015.

You’ll come away from this event:

  • Knowing more about the impact of the Affordable Care Act on your practice
  • With an overview the new CPT codes that will go into effect in 2015, as well as the implementation for ICD-10
  • Aware of the reimbursement changes to the 2015 Medicare Physician Fee Schedule, including the new Chronic Care Management Services
  • Having some ground rules for participating in the government’s incentive programs for 2015 to gain incentives – and avoid penalties

Join Elizabeth and get ready to be a best practice in 2015!

Register Now!

About the Speaker

Expert Elizabeth_Woodcock will explain best practices for appealing denied claimsElizabeth Woodcock, MBA, FACMPE, CPC is a professional speaker, trainer and author specializing in medical practice management. She has focused on medical practice operations and revenue cycle management for more than 20 years.

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#KareoChat Recap: Are You Ready for Telemedicine

December 12th, 2014 by Kareo

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Glassdoor Ranks Kareo a Top 50 Place to Work in US

December 10th, 2014 by Kareo

Read the full releaseKareo announced today that it has been honored with a Glassdoor Employees’ Choice Award, recognizing the Best Places to Work in the U.S. for 2015. The company ranked #22 among the 50 companies honored in the Small and Medium business (SMB) category. There are 325,000 companies on Glassdoor. The Employees’ Choice Awards program, now in its seventh year, relies solely on the input of employees who elect to provide feedback on their jobs, work environments, and companies via Glassdoor’s anonymous online company reviews survey.

“It’s easy to be motivated at Kareo knowing that our mission is to support doctors and other healthcare professionals,” said Elizabeth Krauskopf, manager of customer success at Kareo. “I love working for a company that is surpassing its goals while caring for the well-being and development of its employees.”

Kareo’s ranking was based on employee satisfaction feedback on the company overall, including key workplace factors like career opportunities, compensation, benefits, work/life balance, senior management, culture and values. The complete list of the Glassdoor Best Places to Work in 2015 in the SMB category can now be viewed here.

To find out more, read the full press release.

Discover more about the Kareo story or learn how you can join the Kareo team.

 

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Discover What’s Coming for Medical Billing in 2015 in November Newsletter

December 10th, 2014 by Kareo

The December edition of the Kareo Getting Paid Newsletter highlights some of the changes coming for medical billing in 2015 along with tips on managing and renegotiating payer contracts. The newsletter also provides a chance to discover upcoming events, news, and resources from Kareo. Plus, you’ll learn about how to register for our upcoming free educational webinar, Getting Paid in 2015: What You Need to Know, presented by renowned medical billing and practice management expert Elizabeth Woodcock. Read all this and more now!

December Kareo Getting Paid Newsletter

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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.

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