Kareo is a web-based medical billing and practice management software program. CEO, Dan Rodrigues founded the company in 2004 and had two goals: to create a software that is affordable and easy to use.
In the past, software companies sold a ‘client-server model’ where a physician would have to buy hardware, plus the server, have a representative come to the office for a demo, and come back again to install and train. This process was very time and cost-intensive. At the time, this process was acceptable, because most people were not highly educated consumers in terms of purchasing technology, including physicians.
Then came the release of the iPhone and people started to really understand what a consumer-oriented engagement is with technology. Many doctors got the iPhone and started developing a taste for what technology should be like. This is when Kareo came into the picture and decided to mimic this new experience.
What makes Kareo different?
When you visit the Kareo website, 90 to 95 percent of what a consumer wants to understand and needs to know is right there and easily accessible. The buying experience is done online, sign-up takes about 30 to 45 seconds, you receive your log in information and you’re ready to go.
Additionally, Kareo’s software is delivered in the ‘cloud’ versus on a web server, which means physicians can use their existing software, get into a browser, download the app, and they’re in. No matter where physicians are, they can access data from Kareo.
Kareo’s website also offers thought leadership content. They’ve partnered with experts that write content specifically for Kareo regarding not only medical billing, but other issues physicians are concerned about such as HIIPA, meaningful use and other items of interest that have come out of health care reform and stimulus. This content goes on the Kareo blog and they also incorporate that information into their thinking about product perspective, delivery, and sales experience.
How can Kareo help integrative physicians?
Kareo makes it simple for doctors to get paid. Whether it’s billing patients and being able to accept payments via credit card online or filing insurance claims, Kareo’s goal is to get the doctor maximum reimbursement in the quickest possible amount of time.
Kareo’s software allows physicians to keep track of finances, look at and analyze their client base and schedule appointments. From Kareo’s Dashboard, which users see when they log in, there are short-cuts that link to key functions, a list of tasks that need to be completed and a snapshot of financial metrics. Part of the financial metrics is the Payment Velocity feature. This number is featured in a large orange display and tells the number of days on average it’s taking the practitioner to receive payment from the time of service to the time payment has been posted.
Many practitioners use programs where only 60 to 70 percent of the features apply to them and the remaining 30 to 40 percent is almost always work-arounds. Kareo specializes their software specifically for physical therapists, chiropractors, dermatologists, etc. They understand that there are nuances in certain practices regarding the way they have to bill and how they have to document and one standard program will not work for every practice.
What’s next for Kareo?
They’ve made it easy for doctors to get paid, now they’re finding ways for physicians to connect with their patients beyond the office. Since data is stored in the cloud and can be accessed from anywhere, there are an endless amount of possibilities for physician-patient interaction.
Patients could have an app that connects to their medical records (stored in Kareo’s platform in the cloud) and input what they ate that day, then the app will tell them according to their data that they should watch their sugar intake or eat more iron-rich foods, etc. etc.
If a physician finds a fantastic article on diabetes and has a percentage of patients that are diabetic, he or she can send that article to the diabetic patients through an app.
If a patient is running low on a supplement or medication and does not need to see the doctor, an app could alert that patient, ask if he or she would like to order more, provide the ability to pay right there on the app and then the supplement or medication gets delivered to the patient.
Kareo has the ecosystem to be able to do these things and more. Look to Kareo for more innovative ways for physicians to live with their patients outside the office.
Visit www.kareo.com to watch a free demo and to view their various plans and pricing.