get the best from outsourced medical billing

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Page 1: Get the Best from Outsourced Medical Billing

PAGE 1 KAREO | @GoKareo; #KareoTip PAGE 1 KAREO | CONFIDENTIAL

Get the Best from Outsourced Medical

Billing

Page 2: Get the Best from Outsourced Medical Billing

PAGE 2 KAREO | @GoKareo; #KareoTip

Your Hosts Today…

Laurie MorganSenior Consultant & Partner,

Capko & Morgan

Lea ChathamContent Marketing Manager, Kareo

Page 3: Get the Best from Outsourced Medical Billing

PAGE 3 KAREO | @GoKareo; #KareoTip

How to Participate Today…

Type your questions

Download today’s resources

View today’s presentation

Page 4: Get the Best from Outsourced Medical Billing

PAGE 4 KAREO | @GoKareo; #KareoTip

Participate via Social

Facebook.com/GoKareo

Twitter.com/GoKareo

We’ll be live tweeting during today’s webinar!

How to participate:1. Follow @GoKareo on Twitter2. Follow @LeaChatham on Twitter3. Search for #KareoTip4. Join the conversation using #KareoTip

Page 5: Get the Best from Outsourced Medical Billing

PAGE 5 KAREO | @GoKareo; #KareoTip

Discover Kareo’s Role

• PAHCOM has approved 1 CEU credit.

• Each attendee will receive an email today with a link to request certification. Certificates will be mailed within the next few days.

• Attendees must be logged into the webinar to receive credit.

• You’ll be asked at the end of the webinar if you want a CEU certificate.

“…Make Your Practice a Best Practice!”

Page 6: Get the Best from Outsourced Medical Billing

PAGE 6 KAREO | @GoKareo; #KareoTip

Our Schedule for Today…

1 Introduction & Welcome Laurie

2 Get the Most from Outsourced Medical Billing

3 Discover Kareo’s Role

4 Answer Questions

Page 7: Get the Best from Outsourced Medical Billing

PAGE 7 KAREO | @GoKareo; #KareoTip

Laurie Morgan

Practice management and healthcare consultant

Focus on revenue growth, operational excellence and start-up strategy

Author of Management Rx e-book series: Get the Best From Your Medical Billing Service and Patient Flow Mistakes Smart Practice Manager Make – and How to Avoid Them

Laurie has an MBA from Stanford University

[email protected]@capko.comwww.capko.com

Page 8: Get the Best from Outsourced Medical Billing

PAGE 8 KAREO | @GoKareo; #KareoTip

Our Schedule for Today…

1 Introduction & Welcome Laurie

2 Get the Best from Outsourced Medical Billing

3 Discover Kareo’s Role

4 Answer Questions

Page 9: Get the Best from Outsourced Medical Billing

PAGE 9 KAREO | @GoKareo; #KareoTip

Plan for Today’s Talk

Why use a billing service? Choosing well Help your biller bill better Managing for a profitable partnership Q&A

Page 10: Get the Best from Outsourced Medical Billing

PAGE 10 KAREO | @GoKareo; #KareoTip

Why Use a Billing Service?

“I’m sick of worrying about billing. Let’s make it someone else’s problem!”

“We don’t know what we’re doing, and it’s too hard to learn.”

“It’s just billing. How important can it be?”

Page 11: Get the Best from Outsourced Medical Billing

PAGE 11 KAREO | @GoKareo; #KareoTip

Why Use a Billing Service?

“I’m sick of worrying about billing. Let’s make it someone else’s problem!”

“We don’t know what we’re doing, and it’s too hard to learn.”

“It’s just billing. How important can it be?”

These are not the best reasons to outsource!

Page 12: Get the Best from Outsourced Medical Billing

PAGE 12 KAREO | @GoKareo; #KareoTip

Mindset Matters

Billing efficiently is still your responsibility. It’s critical to your business—you need to understand it. To a patient with a billing question, your service is your

practice. Your billing service can’t do their best unless you’re

working together!

Page 13: Get the Best from Outsourced Medical Billing

PAGE 13 KAREO | @GoKareo; #KareoTip

Smart Reasons to Outsource

Shortage of local talent Great service options available Solo/small practice—low volume, no redundancy Time to upgrade technology

Page 14: Get the Best from Outsourced Medical Billing

PAGE 14 KAREO | @GoKareo; #KareoTip

What a Great Service Offers

Better technology Focused expertise Keen interest … passion? Stability, possibly redundancy, in staffing

Page 15: Get the Best from Outsourced Medical Billing

PAGE 15 KAREO | @GoKareo; #KareoTip

Key Questions

Expertise in your specialty? Technology capabilities? Integrated with your EHR?

Add-on tech? Who’s on the team? Who trains your team – and

theirs? Average metrics?

Page 16: Get the Best from Outsourced Medical Billing

PAGE 16 KAREO | @GoKareo; #KareoTip

Experience, Location Matter

Billing/coding patterns, claims-based programs like PQRS may differ by specialty.

Biller experience with local plans can be valuable. “Face time” with providers useful, too. Neither need be deal-breakers (references,

processes matter more).

Page 17: Get the Best from Outsourced Medical Billing

PAGE 17 KAREO | @GoKareo; #KareoTip

Technology is a Top Consideration

If you don’t have a great billing/PMS system, this is a chance to get one!

Must have excellent reporting—ideally a dashboard—for tracking performance, problems.

EHR integration simplifies superbill sharing, bolsters control (shopping for a new EHR?).

Portal options for patient payments.

Page 18: Get the Best from Outsourced Medical Billing

PAGE 18 KAREO | @GoKareo; #KareoTip

Page 19: Get the Best from Outsourced Medical Billing

PAGE 19 KAREO | @GoKareo; #KareoTip

Does Size Matter?

Regional, national service or tech vendor

Small, local service orindependent contractor

Advantages

• Staff redundancy• Organizational footprint,

experts• Maybe: input on technology

development

• Personal (in-person) touch• You’re a VIP• Flexible set-up

Disadvantages• You’re one of many• Mostly/totally remote• Procedures may be less

flexible

• Lack of bench strength• Less shared learning• More risk of falling behind on

technology, regulation

Key Questions• Will we get a dedicated rep?• How much attention will we

receive?

• How does the biller stay educated?

• Technology investment?

Page 20: Get the Best from Outsourced Medical Billing

PAGE 20 KAREO | @GoKareo; #KareoTip

Make Sure You Know …

How patient statements and calls are handled What happens to collection accounts How payments are processed and posted How funds reach your practice

Page 21: Get the Best from Outsourced Medical Billing

PAGE 21 KAREO | @GoKareo; #KareoTip

Payments and Internal Controls

EFT : who sets it up? Checks in the mail: lockbox Patient portal increasingly essential

Page 22: Get the Best from Outsourced Medical Billing

PAGE 22 KAREO | @GoKareo; #KareoTip

Make Sure You Know …

Who will be your contact How you’ll deliver superbills and other documents How quickly claims are processed How you’ll be alerted to problems

Page 23: Get the Best from Outsourced Medical Billing

PAGE 23 KAREO | @GoKareo; #KareoTip

Make Sure You Know …

How your service stays on top of coding changes, regulation

How your staff will be trained Who keeps on top of payer contracts and

performance

Page 24: Get the Best from Outsourced Medical Billing

PAGE 24 KAREO | @GoKareo; #KareoTip

Stay on Top of Payer Contracts

Contracts are between payers and your practice Your knowledge of negotiating points is likely superior

Your billing service may have scuttlebutt Consider payer performance Set ticklers, don’t forget the directories No matter what … never assume!

Page 25: Get the Best from Outsourced Medical Billing

PAGE 25 KAREO | @GoKareo; #KareoTip

Metrics to Watch

Denial reasons (patterns?) Recurring coding problems Code utilization—especially E/M Receivables aging (biller or front desk performance?)

Page 26: Get the Best from Outsourced Medical Billing

PAGE 26 KAREO | @GoKareo; #KareoTip

Remember Where the Revenue Cycle Starts

Front desk collections=30%+ of your revenue KFF: half of patients couldn’t pay $2,500 today KFF: patients frequently misunderstand insurance terms Consumer Reports: medical bills “surprised”1/3 of Americans

Simplify: payment plans, card-on-file, kiosks, apps, portals No more waived copays

Page 27: Get the Best from Outsourced Medical Billing

PAGE 27 KAREO | @GoKareo; #KareoTip

Revenue Cycle Touchpoints

Website, Phone

Scheduling

Reminders

Time-of-service

Statements

Page 28: Get the Best from Outsourced Medical Billing

PAGE 28 KAREO | @GoKareo; #KareoTip

Dedicate a Liaison and a Team

Dedicated contacts on both sides: partners Analyze reports, mobilize your internal team as needed Keep in touch about technology options Growth opportunity for staff?

Page 29: Get the Best from Outsourced Medical Billing

PAGE 29 KAREO | @GoKareo; #KareoTip

Reports Support Data-Driven Decisions

Analyze demand Track referrals Dig into demographics (e.g., preventive care)

Page 30: Get the Best from Outsourced Medical Billing

PAGE 30 KAREO | @GoKareo; #KareoTip

Evaluating Costs

4%-10% is typical range for volume-based pricingFlat rate may be an option: is it for you?Compare against total cost:

Staffing Turnover Technology Training Lost revenue?

Page 31: Get the Best from Outsourced Medical Billing

PAGE 31 KAREO | @GoKareo; #KareoTip

Summing It Up

Outsourced revenue cycle management can transform your practice – if you choose wisely and manage

Your choice depends less on price than on service, support, technology

Manage and team up with your service for best results Above all, don’t lose interest – stay engaged!

Page 32: Get the Best from Outsourced Medical Billing

PAGE 32 KAREO | @GoKareo; #KareoTip

Our Schedule for Today…

1 Introduction & Welcome Laurie

2 Get the Most from Outsourced Medical Billing

3 Discover Kareo’s Role

4 Answer Questions

Page 33: Get the Best from Outsourced Medical Billing

PAGE 33 KAREO | @GoKareo; #KareoTip

Discover Kareo’s Role

Cloud-based Billing, Scheduling & Practice ManagementElectronic Health RecordsMedical Billing ServicesPractice Marketing & Patient EngagementFree Education, Training, & SupportRanked #1 by Black Book 3 Years

30,000 Providers Nationwide

Page 34: Get the Best from Outsourced Medical Billing

PAGE 34 KAREO | @GoKareo; #KareoTip

Discover Kareo’s Role

– Kareo Practice Management• Multi-resource

scheduling• End-to-end claim

management• Patient statements• Integrated credit

card processing• Online billpay

Page 35: Get the Best from Outsourced Medical Billing

PAGE 35 KAREO | @GoKareo; #KareoTip

ICD-10 Ready

– ICD-10 Ready• ICD-10 Success

Dashboard• Dual Coding

Encounters • Encounter &

Insurance Payer Validation

• Diagnosis Crosswalk

Page 36: Get the Best from Outsourced Medical Billing

PAGE 36 KAREO | @GoKareo; #KareoTip

Kareo Medical Billing: Web, Mobile & Messaging!

• Web and Mobile Software• Calendar & Patient Check-in• IBM & MAC Enabled• Secure Messaging• Revenue Cycle Performance

for Visibility• Kareo Success Team

Page 37: Get the Best from Outsourced Medical Billing

PAGE 37 KAREO | @GoKareo; #KareoTip

Kareo Billing Partners

Looking for a service in your local area? You’ll find our billing partner network is a great resource. For a list local billing services powered by

Kareo visit http://www.kareo.com/marketplace/billingcompanies.

Page 38: Get the Best from Outsourced Medical Billing

PAGE 38 KAREO | @GoKareo; #KareoTip

Kareo.com ICD-10 Resource Center

Small Practice Guide Success Checklist Assessments e-book Specialty Guides

Mental Health Pediatrics Primary Care Surgery Orthopedics

Resource Library 4 Steps to Success Webinar Product Trainings

http://www.kareo.com/icd-10

Page 39: Get the Best from Outsourced Medical Billing

PAGE 39 KAREO | @GoKareo; #KareoTip

ICD-10 Survival Plan

• New Kareo Medical Billing customers receive:• 4-week step-by-step plan• Customer Success Coach &

training• ICD-10 & specialty-trained

billers• Assisted payer enrollment &

data import

Page 40: Get the Best from Outsourced Medical Billing

PAGE 40 KAREO | @GoKareo; #KareoTip

Discover Kareo’s Role

• PAHCOM has approved 1 CEU credit.

• Each attendee will receive an email today with a link to request certification. Certificates will be mailed within the next few days.

• Attendees must be logged into the webinar to receive credit.

• You’ll be asked at the end of the webinar if you want a CEU certificate.

“…Make Your Practice a Best Practice!”

Page 41: Get the Best from Outsourced Medical Billing

PAGE 41 KAREO | @GoKareo; #KareoTip

Our Schedule for Today…

1 Introduction & Welcome Laurie

2 Get the Most from Outsourced Medical Billing

3 Discover Kareo’s Role

4 Answer Questions

Page 42: Get the Best from Outsourced Medical Billing

PAGE 42 KAREO | @GoKareo; #KareoTip

How to Participate Today…

Type your questions

-- Questions After the Webinar --

888.775.2736 [email protected]

Page 43: Get the Best from Outsourced Medical Billing

PAGE 43 KAREO | @GoKareo; #KareoTip