Boost Insurance Reimbursements
Take advantage of your opportunities to maximize insurance reimbursements at each stage of the revenue cycle.
Get Paid What You're Owed
Managing the revenue cycle efficiently is one of the most challenging parts of operating an independent practice. Each phase of the revenue cycle has its own unique challenges. A breakdown in one part of the process can result in wasted time and lost revenue. It is vital for the financial stability of your independent practice to have a clearly defined revenue cycle workflow that works. Not only will you receive the payments that you are owed in a timely manner, but will also reduce the burden on billing staff, keep down administrative costs, and maintain a positive rapport with your patients.
With Kareo, you’ll get access to our platform and an entire suite of integrated billing functionality. Our web and mobile applications help your practice easily manage your revenue cycle and the complications that come with billing insurance.
Your Guide to Exceeding a 95% Clean Claims Rate
50% of rejected or denied claims don't get reworked. That's lost revenue. Improving your claims process can be the fastest way to improve the profitability of your practice.
This guide provides valuable tips, tricks and resources to help you achieve your goal of “Clean Claims Nirvana” by attaining a First Pass Acceptance Rate (FPAR) of greater than 95%.
Does your practice have an optimal revenue cycle workflow?
Optimizing your revenue cycle workflow is key to improving insurance reimbursements and reducing denials.
Take and honest assessment of your insurance reimbursement revenue cycle, define your goals and what is needed to get you there.
Reducing claim rejections and improving insurance reimbursements starts before the patient enters your office. To be successful you need to implement an optimal process for patient intake, patient eligibility and benefits verification.
Analyzing and processing insurance claims is one of the most critical activities for your practice. Leveraging technology appropriately can help to speed up, and even automate some of your charge entry, charge validation, claim scrubbing, rejection management, denial management and payment posting.
It is essential to set up KPIs (key performance indicators) for your insurance reimbursements. Proper monitoring of KPIs will help to uncover the revenue opportunities that will provide the greatest contribution to your bottom line. You can then move forward with confidence knowing that your time and resources are being fully optimized.
Talk to a solutions consultant about how to optimize your insurance reimbursements.
Insurance Reimbursement Resources
Simplify the complications that come with billing insurance.
Achieving Clean Medical Claims and Higher Insurance Reimbursements
Kareo Platform Brochure
Insurance Reimbursement Features
The Kareo platform was designed to work the way you do. Below are some selected features to optimize your care delivery and practice workflows.
Eligibility Check (and Re-Check)
Gone are the days of rejected claims from non-eligibility. With Kareo, you have easy eligibility checks, re-checks, automated checks and group checks at your fingertips, so you can do multiple verification to ensure claims go through.
Online Patient Intake
Securely capture patient demographic and insurance information prior to the visit. Obtain information about about the patient's insurance so you can verify active coverage with the payer.Learn More
Charge entry helps you improve your productivity and reduce the time you spend with routine data entry of your charges. You can set up fee schedules, enter charges quickly, check codes against payer rules, and track every encounter from appointment scheduling to insurance claim submission.
Validate charges, Using Claim Scrubber
Claim Scrubbing is a process of validating the combination of data presented or submitted on a health insurance claim. The data submitted on a claim is validated against such coding rules dictated by Medicare, Medicaid, National Correct Coding Initiative Edits and other standard coding rules.
Spending a little extra time ensuring correct setup before submitting claims will save considerable time and effort troubleshooting, correcting and resubmitting rejected, denied, or no-response claims. It will also help ensure your claims get processed and paid as quickly as possible!
Getting paid faster is essential to the health of your business. One of the most significant areas that can delay getting paid is claim rejections.
If a payer denies a claim, you can account for it by posting a denial. Posting a denial will also help with reporting and audit trails.
A procedure macro (sometimes referred to as an explosion code) is a special code you create that when entered on an encounter, loads multiple procedures, modifiers, and diagnoses codes into a procedure line item. Since many patient visits are nearly identical, these procedure macros provide a convenient shortcut that can dramatically save time when entering procedures performed on an encounter.
Post and manage payments - view a complete log of financial transactions associated with each charge, and view or re-open settled charges.
Contact a Kareo Solution Consultant to help you identify under-optimized areas in your insurance reimbursement workflow and help you take the actions necessary to improve:
Once you sign up with Kareo you will be assigned a Customer Success Coach dedicated to the success of your implementation. We understand the anxiety and stress that accompany transitions and change in the workplace. With the user friendliness of our applications and the personal assistance of a Customer Success Coach, your set up process can be completed in a matter of weeks if not days!
What our customers are saying
"Kareo is user-friendly and easy for your clients to use too."DR. Jared Hull
"Kareo will help you do what you do best and that’s getting back to helping people."Dan Young
"Everything is so easy to access and so easy to see."CHERYL DAY
Awards & Accolades
How do you know that Kareo is way ahead of the competition?
We've won more awards, for one. We're even ranked as Black Book's
#1 Integrated EHR, Practice Management and Revenue Cycle Management
Software Vendor for 4 years in a row!