Kareo Billing Software - ICD-10 Compliant and User-Friendly Process In 2023

Kareo billing software is a great decision for self-governing medical performance. It’s ICD-10 compliant and user-friendly. This software also outsources billing operations for you, which saves you time and money. Its costs are competitive and make it an excellent choice for any practice.

Kareo Software Is User-friendly

Kareo billing software is user-friendly and highly customizable. It’s intended to meet the requirements of self-governing healthcare practices, providing hundreds of customizable patterns that board almost 50 medical subjects. It also has a dedicated Success Coach to guide you through the process. Kareo has been serving independent healthcare practices for over 15 years.

Kareo is a Web-based package that comprises medical billing and practice management structures. It’s suitable for billing companies and small practices alike, and it can be up and running in 48 hours. It also includes features that let you customize reporting tools. Customers report that Kareo’s customer service is responsive and helpful. However, some customers complained about the difficulty of setting up insurance and patient billing. Users also didn’t like the system going down for maintenance from time to time.

In addition to being user-friendly, Kareo can handle credit card processing, including swiping debit/credit cards at front office locations. It also handles insurance eligibility verification. It also supports online payments and can auto-post payments. Users can also print receipts. Kareo also helps you understand the underlying causes of insurance denials, and offers help for collections management.

ICD-10 Compliant

Regardless of your level of ICD-10 expertise, Kareo’s billing software will make the transition easier and more efficient. Its comprehensive set of features and functionality includes billing analytics, document management, agenda planning, and ICD-10 compliance. As the transition toward ICD-10 continues, it is important to choose software that will help you meet these challenges. A Kareo consultation will help you determine whether the software will meet your needs.

Whether you use the software for your own practice or outsourced medical billing, Kareo will help you stay compliant. The company’s fully integrated billing system will improve workflow and revenue, as well as enable you to process all government and commercial claims with ease. The platform can also help you motivate patients and reduce data entry.

One of the key features of Kareo is its ability to code both in ICD-9 and ICD-10. The software was designed with the idea that both versions will be required. Its crosswalk tool lets you map ICD-9 codes to their ICD-10 equivalents.

Outsources Billing Operations

The Kareo billing software platform outsources billing operations to third-party providers. The platform offers a variety of features to maximize your billing efficiency. Among these features are workflow, claims cleaning, and denial management. It can handle billing tasks for practices that range from one to one hundred providers.

Kareo offers an all-inclusive outsourcing plan that includes charge entry, coding, claims scrubbing, submission via a clearinghouse, and rejection and denial management. In addition, the company also handles follow-up and patient statements and collections, as well as out-of-pocket expenses.

Kareo connects clients with third-party affiliate billing companies that can perform tasks such as claim scrubbing, charge entry, and coding. The software platform allows Kareo clients to monitor the performance of their outsourced medical billing providers, which enables them to easily hand off a delicate financial process to other professionals.

With the rising cost of hiring an experienced billing staff, more solo physicians are looking to outsource their medical billing operations. In fact, more than 90 percent of physicians who currently perform their own billing plan to outsource billing in the next five years.

Kareo Billing Software Cost

The Kareo billing software is an advanced system that captures and assigns charges to patients and insurers. The software also allows for streamlined collections and reconciliations. Additionally, Kareo offers analytics and reporting that can reveal profitable areas and key trends. This feature makes it easy to measure the effectiveness of your practice and make more informed decisions.

Kareo’s dashboard is easy to use and can be customized to each user’s role. It also includes practice management tools and a complete EMR. The interface is intuitive and Kareo offers one-on-one training for advanced features. It also features a calendar with filters for scheduling, auto-generation of patient statements, and automated payment reminders.

Kareo offers seamless integration with InstaMed payment processing. This processor specializes in medical payments. However, users are not required to use InstaMed for credit card processing. Other credit card processing companies are also compatible with Kareo. However, it is essential to note that credit card processing costs are not included in the Kareo billing software cost. These costs are set by the credit card processing company and are in addition to Kareo billing software costs.