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Kareo Help Center

Kareo Medical Billing Release Notes April 21, 2016

In April, your Kareo Medical Billing account was updated to include Billing Analytics.

Now you can implement the right changes to your revenue cycle. 

Kareo’s new Billing Analytics gives you more insight into your practice. You can drill down into the details, identify any weak spots, and take action to keep your practice in good financial health.

Kareo Billing Analytics informs your decision-making with a focus on your specific needs.

Get insights into your patient visits, billing, collections, and accounts receivable. 

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Filters

You can benchmark your performance by filtering data over a week, a month, a year, or create your own custom time period.

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The date filters enable you to view your billing analytics for the following date ranges:

  • 1w - Last complete week
  • 1m - Last complete month
  • 6m - Last complete 6 months
  • 1y - Last complete year
  • MTD - Month to Date
  • Other - Last 12 complete months
     

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Once you select a date option, the days for that date range will be displayed. 

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You’re never in the dark about your business, whether you oversee one office or many. You can view the overall practice data by default or drill down into the data by both location and individual provider.

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Analytics by Section

Top of Mind

Get answers to your questions fast — so you can act fast. 

The “Top of Mind” section displays your billing performance indicators at a glance when you don’t have the time to carefully study dense reports. You can easily scan high level financials and compare them to defined prior periods.

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Patient Visits
View your total number of patient visits for the selected date period. A comparison of the prior period allows you to gauge whether your patient visits are up, down, or consistent.


Gross Charges
View your total gross charge amount so you can see how you much you are billing for the selected date period. A comparison of the prior period allows you to gauge whether you are billing more, less, or in line with your average charges.

Collections
View your total collection amount so you can see how much you are collecting for the selected date period. A comparison of the prior period allows you to gauge whether you are collecting more, less, or in line with your average collections.

Accounts Receivable 
View your total Accounts Receivable so you can see how you much money is in A/R for the selected date period. A comparison of the prior period allows you to gauge whether your A/R is higher, lower, or consistent.

Hover over the question mark icons to learn more about specific metrics. 

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How much did I bill?

Understand your productivity — so you can understand your financial health.

The “How much did I bill” section calculates your gross charges and gives you better insight into productivity, potential backlogs, and more. You can view your total gross charges, average gross charges per encounter, and your top procedures by gross charges. 
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Gross Charges
View your total gross charge amount so you can see how you much you are billing for the selected date period. A comparison of the prior period and six-month average allows you to gauge whether you are billing more, less, or in line with your average.

Average Gross Charges per Encounter
View a trending graph of your average gross charges per encounter so that you can visually gauge how your gross charges per encounter are doing over the defined date period.

Top Procedures by Gross Charges
View your Top Procedures list to see procedures for which your practice is billing. View your top five procedures and sum the remaining into “Other” so that you can see how your top procedures are doing compared to your remaining procedures. You can hover over a procedure to get the full procedure description and which procedures you are billing the most amount. 

Show Details
You can “Show details” to help you drill down into the reasons why something may have changed so you can take proactive steps to keep your revenue cycle performing at optimal levels.

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Details in this section include:
*Based on Date of Service.

Encounters by date: See a trend of your total number of encounters per month over the selected date period. 

Encounters by provider: See a breakdown of your total number of encounters per provider over the selected date period. 

Encounters by location: See a breakdown of your total number of encounters per location over the selected date period. 

Gross Charges by date: See a trend of your total amount of charges being submitted per month over the selected date period. 

Gross Charges by provider: See a breakdown of your total amount of charges being submitted per provider over the selected date period. 

Gross Charges by location: See a breakdown of your total amount of charges being submitted per location over the selected date period. 

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How much did I collect?

Understand your payer mix — so you’re never dependent on any one payer.

The “How much did I collect” section calculates your total collections and allows you to compare reimbursement levels by payer so you can actively manage your payer mix.


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Collections
View your total collection amount so you can see how you much you are collecting for the selected date period. A comparison of the prior period and your six-month average allows you to gauge whether you are collecting more, less, or in line with your average.

Gross Charges vs. Collections
View a trending graph of your gross charges compared to your collections so that you can visually gauge how your billing compares to your collections for the selected date period.

Top Payers by Collections
View your Top Payers list to see which payers your practice is collecting from the most. See your top five payers and sum the remaining into "Other" so that you can see how your top payers are doing compared to your remaining payers.
 
Show Details
You can “Show details” to help you drill down into the reasons why something may have changed so you can take proactive steps to keep your revenue cycle performing at optimal levels.
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Details in this section include:
*Based on Posting Date.

Net Collections by date: See a trend of your total amount collected per month over the selected date period. 

Net Collections by provider: See a breakdown of your total amount collected per provider over the selected date period. 

Net Collections by location: See a breakdown of your total amount collected per location over the selected date period. 

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How much is outstanding?

Understand your Accounts Receivable — so you can plan your expenses.

The “How much is outstanding” section tracks your accounts receivable balance so you can better identify any potential problems and quickly fix the root cause. See how your Days Revenue Outstanding is trending, and learn what payers have the highest A/R amount. 


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Accounts Receivable Balance
View your total Accounts Receivable amount so you can see how you much money is in A/R. A comparison of the prior period and your 6 month average allows you to gauge whether your A/R has gone up, down, or in line with your average.

Days Revenue Outstanding
View your Days Revenue Outstanding (DRO) graph to visually see how your DRO is trending over a specific date period.

Top A/R by Payer
View the Top A/R by Payer list to see which payers have the highest A/R amount. We provide your top five payers and sum the remaining into "Other" so that you can see how your top payers are doing compared to your remaining payers.

Show Details
You can “Show details” to help you drill down into the reasons why something may have changed so you can take proactive steps to keep your revenue cycle performing at optimal levels.
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Details in this section include:
*Based on Date of Service.

Accounts receivable by age: See money owed to the practice grouped by unbilled charges, 0-30, 30-60, 60-90, 90-120, and 120+ buckets. 

Accounts receivable by date: See a trend of the total money owed to the practice per month over the selected date period. 

Accounts receivable by provider: See a breakdown of money owed to the practice per provider as of the end date of the selected date period. 

Accounts receivable by location: See a breakdown of money owed to the practice per location as of the end date of the selected date period. 

Accounts receivable by payer type: See a breakdown of money owed to the practice per payer type as of the end date of the selected date period. 

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Security/permissions

Please note you will need to be assigned an Administrator role to have access to Billing Analytics
 

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