A medical billing system is a software program that automates your institution’s complete billing procedure. Healthcare practices utilize this program to help them digitize and optimize their billing operations. These programs aid in enhancing practice productivity as well as improving income by allowing more claims to be granted and assisting with financial analysis. When it comes to billing systems, the Kareo Billing system is a prominent choice. Although the software is more known for its EHR; Kareo EHR, Kareo billing software has received immense love from the practitioners as well. There are many Kareo Software surveys accessible that validate the way that this is a phenomenal program. We’ll go through some of the top features of this software in depth so you can decide whether it’s a suitable fit for you.
Kareo EHR and Billing Software
Kareo software is very popular software and a common choice of many health providers. The software is known for the solutions it offers to healthcare facilities and practitioners. Kareo EMR is a famous choice for EHR software. However, this piece is going to be about Kareo billing software and its features. If you want to know Kareo billing pricing, make sure to schedule a Kareo software demo.
Kareo Billing Software Features
Kareo Billing Dashboard
The Kareo Billing Dashboard is an accessible and effective solution built for billers such as you and recognized by medical practitioners to assist you to save energy. The Kareo dashboard provides significant information by offering a glimpse of everyday important activities, kpi, and unique shortcuts/workflows tailored to your team’s needs. From the dashboard, you can retrieve clinical notes, book appointments, monitor projects, save records, manage payments, generate reports, and more.
The main menu features drop-downs and symbols for widely utilized shortcuts, allowing you to reach where you want to go in a matter of seconds. You may see essential items like transaction velocity, A/R aging, and an income analysis chart. Kareo Billing generates the to-do list instantly and gives a clear tracking mechanism as you accomplish each activity. The dashboard provides key performance metrics so you can track data that affect your organization’s monetary and logistical health and be paid soon
Claims Submission and Management
With lost paper records and an absence of progress knowledge, submitting claims might feel like throwing your most crucial bits of data into a hole. Digital claim submissions from Kareo enable you to get reimbursed quicker by avoiding the human work of paper-based claim handling. Once you’ve finished Kareo’s aided insurance registration, you may file a claim digitally and track their progress using a traceable, digitized trail.
Billers can submit digital claims to over 8 thousand government and commercial providers, print paper claims as needed, and obtain claim processing statistics with progress notifications. You’ll get reimbursed sooner from insurance carriers and prevent expensive inefficiencies and delays to your income by combining Kareo Billing with our closely interconnected digital claim submission procedure.
It’s critical to have the correct tools to recover what you’re due as client collections continue to grow as a percentage of your practice’s A/R. Kareo provides four options for promptly sending statements to your patients, as well as the ability to pay your bills online. Streamline your client billing cycle and improve income using these technologies. Clients receive information about the remaining amounts while their appointment is still fresh in their minds thanks to Kareo’s actionable text balance notifications.
Provide your customers an online summary before you invest lots of money in mailing client reports. The client can see the amount on the digital statement and make a fast, easy, and protected payment electronically. If no money is received, you can use Kareo’s processing to manage the printing and distribution of paper statements. By employing Kareo’s client statement mailing system, you may speed up client receivables, save employees ’ time, and save administrative expenses.
Charge Capture and Encounter Review
Kareo makes it simple to enter charges. You may quickly insert procedure codes from your favorite list of bookmarked codes or seek new ones. You can also use variables to improve processes. With Kareo’s capability to digitally submit new charges, you can wave farewell to tedious entering data and welcome increased productivity. You can rapidly set up billing systems, submit payments, verify codes against payer coverage criteria, and follow every encounter, even missed encounters, all the way to digital insurance claim submission, with Kareo Billing Encounter Monitoring. You can concentrate your attention on higher-impact tasks by automating repetitive office work.
Eligibility Checks and Patient Authorizations
Kareo Billing helps you maximize collections by eliminating the uncertainty and inconveniences of assessing client insurance eligibility. You can avoid unrecoverable income from clients owing to incorrect or inadequate insurance coverage by checking insurance during client registration and appointment booking. Needed to verify insurance status before each client visit decreases claim denials later on and eliminates the headaches that come with ineligibility.
Kareo EHR Billing adheres to all market requirements for digitally confirming insurance advantages in order to eliminate refused claims and handle customer payment responsibilities. When the digital verification is transmitted, the client receives an instant reaction with information about their insurance policy, such as medical services included and copay, deductible conditions, and threshold
Rejection and Denial Management
With Kareo Billing’s Denial Management capabilities, which feature distinctive reports such as denial information, you may be paid quicker and save time. It allows you to go to the bottom of your denials and lessen the number of denials you get on a regular basis. Billers can highlight denials that need to be reviewed immediately, quickly resolve denials, and renew insurance claims. Before entering your payer’s internal adjudication structure, your claims will go through three distinct inspections as part of Kareo Billing’s comprehensive claim processing. The greatest feature is that everything is done digitally, so you’ll know right away.
Final Words From our Side!
Kareo is an excellent Medical billing software solution. If you are thinking of investing in it, make sure you schedule a demo beforehand. Moreover, we would also recommend you read as many online reviews as possible. Hopefully, the Kareo Medical Billing system will not disappoint you!