Software vendor helps to address one of the biggest challenges in private practice today
IRVINE, Calif., September 27, 2017 –Kareo, the leading provider of clinical and business management software for independent medical practices, announced enhanced features and a comprehensive plan to boost patient collections. Software enhancements include automated eligibility checks, smoother charge capture, helpful balance due alerts, hassle-free patient statements and more. Along with these enhancements, Kareo released the Patient Collections Boot Camp, a free comprehensive guide to implementing new and more efficient processes that will result in better patient collections while improving provider-patient communications.
On the need for simplifying and creating a new patient collections process, Kareo Chief Marketing Officer Rob Pickell said, “The average deductible in the U.S. is now more than $1,000, with patients spending higher out-of-pocket amounts than ever before. This means that patient balances can now make up 30 percent or more of practice revenue. We knew we could help in this area – by enhancing our software features to make patient collections easier, and by providing education and training to help our customers create and implement a collection success plan.”
Kareo’s success plan, as outlined in the Patient Collections Boot Camp, starts with a free assessment to identify areas for improvement and how to leverage new and existing features within Kareo’s integrated end-to-end software platform. The Kareo platform is comprised of a powerful billing module, an intuitive and certified EHR, and essential patient engagement and practice marketing features. Kareo offers extensive training and support to help customers work toward these goals for high-performing practices:
- 95% net collections rate
- 100% of co-pay or co-insurance collected at time of service
- Majority of patient A/R less than 30 days
Customers also have the option of choosing managed billing services to oversee their patient collections and all revenue cycle management responsibilities, either from the company’s extensive network of billing companies or from Kareo directly.
To learn more about Kareo’s suite of patient collections solutions, visit kareo.com/patient-collections.
Kareo is the only cloud-based complete medical technology platform purpose-built to meet the unique needs of independent practices. Today Kareo helps over 40,000 providers in all 50 states run more efficient and profitable practices, while delivering outstanding patient care. The Kareo technology platform is the first to help independent practices find more patients, manage their care with a fully certified and easy-to-use EHR, and get paid quickly all in one complete and integrated package. Kareo has received extensive industry recognition, including the Deloitte Technology Fast 500, Inc. 5000 and Black Book's #1 Integrated EHR, Practice Management and Medical Billing vendor. Kareo's growth further demonstrates the expansion and vitality of the independent practice market in the U.S. With offices across the country, Kareo’s mission is to help independent practices succeed in an ever-changing healthcare market. More information can be found at www.kareo.com.