October 23rd, 2013 by Kareo
More and more practices are considering turning their revenue cycle management over to third party medical billing services. A recent Black Book survey indicated that 71% of physician practices are considering a combination of new new software and outsourcing services to improve RCM systems. In addition, the survey showed that 93% of all independent physicians consider outsourcing revenue cycle management services as the most sensible solution as they attempt to survive as an autonomous entity.
Recently, Laurie Morgan, MBA, Senior Consultant, Capko & Morgan, released Get the Best from Your Medical Billing Service, a resource that provideds a detailed review of how to choose a medical billing service and get the most from the relationship. Laurie has presented educational webinars for Kareo and has been a healthcare consultant for many years. She uses her deep knowledge of practice management and medical billing to provide a very comprehensive resource.
Kareo meets every criteria laid out by Laurie in this great booklet. Beyond that, Kareo excels in a few key areas where many others fall short. Laurie recommends choosing a solution that offers fully integrated, seamless practice management, billing, and electronic health records (EHR) because, “an integrated system will help you get paid faster.” The 2013 Black Book Rankings placed Kareo #1 for seamless practice management, billing, and EHR. She also suggests choosing a partner who makes it easy to take your billing back in house if you choose to do so:
“… because the software is designed for use both inside practices and in a billing service, a future switch from the service back to in-house billing (using the same technology) should be relatively painless. (Choosing a stand-along billing service that used one of these same technology platforms could provide the same advantage.)
Your contract with your billing service should also make clear that you own all of your data, and that you’ll be able to take control of it within a reasonable timeframe should you decide to bring billing in-house in the future or switch billing services. Any obstacles to a prompt transfer of data should be spelled out in your contract – along with termination rules for both your practice and the service.”
Kareo’s customer for life philosphy is specifically focused on earning your business and making it easy for you to make changes. Taking your billing back in house is virtually seamless–and painless.
To learn more about Laurie’s recommendations, download the eBook for nominal fee.