Kareo - 3 Innovative Strategies for Increasing Collections Webinar

KAREO | CONFIDENTIAL

3 Innovative Strategies for Increasing Collections

We will begin in just a bit…



Starting Now…


Your Hosts Today…

Rochelle GlassmanPresident, United Physician Services, LLC

Terry DouglasDirector Brand Marketing, Kareo


How to Participate Today…


How to Participate Today…

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Social Media for Today…

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Our Schedule for Today…

1 Introduction & Welcome Rochelle

2 3 Innovative Strategies to Increase Collections

3 Discover Kareo’s Role

4 Answer Questions


Rochelle Glassman

• Nationally-recognized healthcare consultant• Former executive-level consultant for Cigna• Healthcare business entrepreneur• 30 years of healthcare business experience• President/CEO United Physician Services, LLC• Physician Advocate• Trauma-trained RN• [email protected] or 602.685.9500






4 Answer Questions


Increasing collections without increasing volume

• Collection of co-pays and deductibles

• Electronic Funds Transfer (EFT)

• Collection Strategies


Co-pays and Deductibles

• Most practices do not verify insurance benefits prior to each patient’s appointment!

• Most practices do not collect up front!

• Can create huge patient A/R issues!



• Patient co-pays and deductibles should be checked PRIOR to patient visits.

• Collect patient balances proactively rather than retroactively.

• Create credit card on file system.



Bottom line profit

Less administrative work


Electronic Funds Transfers (EFT)

• Not always utilized across the board!

• Consistent cash flow!

• Less room for employee error!

• Reduced theft!



• Money may be received within 5-10 days.

• Less administrative work – no need to send employee to the bank 1-2 times a week.• No bank deposits!

• Quicker!

• Less liability (Employees traveling to bank, for example)

• Less time to post payment



Consistent cash flow

Less administrative work


Collecting your A/R

• A/R can get out of control very quickly!

• Don’t allow your staff to write off balances.

• Load your reimbursement schedule by payer.

• You’re losing money!


What can you do!?

• Make payments easy – create patient electronic payment portal available 24/7/365

• Remind patients of old balances PRIOR to their next appointment

• Setup payment plans for large balances through automatic credit card (Get an agreement signed by the patient!)


What can you do!?

Sample credit authorization form


What can you do!?

• Develop consistent collection policies• Upfront collection of co-pays and

deductibles• Credit card deposits that are automatically

charged when an EOB is posted• Sending patient statements quickly after

EOBs are posted• Send weekly electronic statements


Collect-a-thon Party!


Collect-a-thon!

• Work on balances older than 90 days

• Saturday morning – but pay your employees!

• Make it fun!

• Make it a competition!

• Have prizes!


Collect-a-thon!

Increased revenue

Decreased A/R






4 Answer Questions


Discover Kareo’s Role

“…Make Your Practice a Best Practice!”



“…Make Your Practice a Best Practice!”

• PAHCOM & AAPC have approved 1 CEU credit.

• To request your credit, reply to the email received immediately following the webinar today.

This program has the prior approval of AAPC for 1 continuing education hour. Granting of prior approval in no way constitutes endorsement by AAPC of the program content or the program sponsor.



Collect Co-Pays & Deductibles• Upon check-in• Credit/Debit/HSA/FSA




EFT Payments• EFT confirmation• Transaction ID in ERA




EFT Payments• EFT confirmation• Transaction ID in ERA

Patient CollectionReports




EFT Payments• Receive EFT

confirmation, transaction ID with your ERA report.

Patient CollectionReports



“…make work fun and rewarding!”

• Bell• Easy Button• Bag ‘o Money• Party Hats• Balloons• $50 Domino’s Pizza Gift Card• $50 Amex for Groceries• Kareo Goodies

Kareo Collect-a-thon Party Pak






4 Answer Questions


Let’s Answer Your Questions

Is Kareo a clearinghouse? If not, what clearinghouses do you use?

Questions Right Now

888.775.2736 [email protected]

‐‐ Questions After the Webinar ‐‐

For Kareo…

For Rochelle… [email protected]



Thank you for attending!

Kareo - 3 Innovative Strategies for Increasing Collections Webinar

Health & Medicine

Transcript of Kareo - 3 Innovative Strategies for Increasing Collections Webinar