Most providers can agree that it is important for patients to have effective methods to pay for the services they receive. However, this may not be reflected in practice. Many patients feel that practices do not offer enough explanation of patient payments. Others feel that they do not have enough alternative payment methods available to cover their bills.
As such, there is a need for technology to step in and help out. Luckily, Kareo EHR is an excellent tool that can make paying for services easy for both patients and doctors. In this article, we will be exploring the current issue with payment options. Further, let’s discuss some of the ways that practices intervene, particularly while using the software.
Kareo has been recognized for the Deloitte Technology Fast 500, Inc. 5000 and Black Book’s #1 Integrated EHR, Practice Management, and Medical Billing vendor.
Kareo’s offices are spread across the country with the mission to provide solutions to independent physicians.
Kareo’s extensive growth has helped providers to boost patient collections and enhance automatic eligibility checks. Patient collections must be the top priority of independent practices. This is the ultimate blueprint of success that will help you further succeed in the competitive industry of healthcare.
The Impact of COVID-19 on Payment Collection
There is not doubt that there already existed a problem in the field regarding payments. However, as with many other issues, the problems have only gotten worse since the COVID-19 pandemic. Because of the pandemic, many more patients have been unable to make payments. This has led to even more confusion regarding patient collections.
The COVID-19 pandemic hasn’t just impacted patient income. It has also had an impact on the coverage patients have and the degree of help they have been receiving. As such, it is crucial for doctors to keep the stress of the pandemic in mind. This allows them to manage the subject of patient collections with the sensitivity that it deserves.
How Kareo EHR Software Can Help Collect Payments
Now that you are aware of the context that patients operate in let’s move on to the role of technology. With the knowledge that helps you understand what issues patients are facing, you can work to provide better options. At the crux of it, methods to collect payments need to have certain characteristics. They should be easy, quick, effective, and sensitive.
When you give patients more options to pay and communicate openly, you are more likely to improve reimbursement. So, here are the ways that you can collect payments from patients. This can all be done using innovative technology from Kareo EHR. The software helps you set up in-depth strategies for care that embody your values.
Kareo EHR Cost
The vendor provides a customized-built platform that is tailored according to your practice needs. The pricing plan varies according to your practice and can be availed by contacting their consultant.
If you opt for Kareo, check out the Kareo EHR demo by contacting the company. If you are interested in finding out more, reach out to us for a FREE consultation.
Send Out Reminders
One of the best ways to gather rapport with patients is by communicating with them. While there are other forms of communication, one of the most vital for practice is reminders. The reminders tools from Kareo EHR can be essential for practices. They enable practices to let patients know when their appointments are due.
Additionally, reminders can be used in the collection process as well. When you send out reminders for appointments, you can use that chance to let patients know other information. Part of this may be the information regarding payments. This helps improve transparency and makes patients feel like they are being treated with honesty.
Communicate Using Texts
Aside from reminding patients about reminders, one of the things you should do is have a texting tool on hand. This allows you to share crucial information with patients. Such information would include data around the payments they are expected to cover, their coverage, and much more. Text messages remain a popular method to receive news.
Younger generations of patients may feel uncomfortable with the idea of using phone calls to communicate. Another alternative is a patient portal, but fewer patients may check their portal for information. However, the text message that you send out may include portal information. For example, you may ask patients to cover their bills at the portal itself.
Provide Options For Payment Platforms
As mentioned above, one of the main areas of concern for patients is payment methods. Having a lot of options is a good way to go – that way, more patients feel like they can easily make payments. It is also crucial that patients know beforehand that they have options available. You can make sure of this by putting this information up and easily available.
Using popular payments methods such as Venmo also has benefits. For one, you can make it a lot easier for people to cover their payments because they feel like it is convenient. Additionally, you can also create a feeling of trust and legitimacy when you listen to patients. They will feel heard and trust that your practice is working in a legitimate capacity.
The company provides a free assessment plan to help providers identify, improve, and leverage their practice with Kareo’s integrated software platform.
The platform consists of:
Robust billing module
Practice marketing features
Kareo offers extensive training and support to help its users achieve high-performing goals by providing:
95% net collections rate
100% of co-pay or co-insurance collected at the time of service
Majority of patient A/R in less than 30 days
Customers can also choose billing services from Kareo or the company’s extensive network of third-party billing companies to overlook patient collections and RCM.
Work On Billing Statements
One of the last (but not least) actions to take is to up your game when it comes to statements. It is vital that a statement carries out its job – clearly communicating the money owed is a great start. This helps patients feel like they know what is being asked of them. Good statements have a number of important characteristics.
For example, statements should include simple language that patients won’t be confused by. Additionally, it should be clearly depicting the current information including any coverage. Then, with the added benefit of payment methods, there is a lot to consider. Lastly, it should be clear who the statement is for. It should also include information on where to pay.
Conclusion – Should I Try Out Kareo EHR?
Now that you have read through what Kareo EHR has to offer to practices, there are a few next steps. These will help you determine if Kareo is a good option for you and your practice. Here’s how you get started. First things first, you may want to reach out and request a Kareo EHR demo. Then, the next step would be to ask for the Kareo EHR pricing.
If you’re still confused, make a list of features that you consider a pro in general. Next, open up the features of Kareo and compare the two. The better they compare, the better Kareo is as an option for you. This technique can help you determine the right software for you and your practice. This way, you will be able to find software on the basis of the features offered.