Medical billing is a complex and time-consuming process for healthcare providers and small practices, involving tasks such as insurance claims, patient invoicing, and other administrative responsibilities. For many, managing these tasks without specialized support can lead to operational strain and even cash flow challenges. Kareo Medical Billing serves as an effective solution in this context.  

Kareo (now Tebra) offers an all-in-one platform designed to simplify billing workflows and boost revenue. As an industry leader in revenue cycle management, it has been optimizing billing processes for healthcare providers for over 15 years. Numerous billing companies and thousands of providers trust the platform. 

One of the key factors that sets the software apart is its billing pricing structure, which is flexible and scalable to accommodate the needs of different practice sizes.  

In this guide, we’ll highlight how Kareo Medical Billing operates and explore its key advantages and potential limitations. It offers the insights you need to make a well-informed decision for your practice. 

    Key Takeaways

  • Kareo Medical Billing optimizes complex billing tasks like insurance claims and patient invoicing
  • Kareo combines EHR, practice management, and billing features into one platform for smoother operations
  • Its intuitive design allows quick staff adaptation and easy access to core functions
  • Automation of billing processes, like claim submission and payment tracking, accelerates revenue collection
  • The platform’s flexibility allows customization to fit the specific needs of different practice types and sizes
  • Kareo integration issues with non-Kareo systems, limitations for multi-location practices, and a less functional mobile app may affect some users

How Does Kareo Billing Software Work?

The Kareo billing solution is designed to help practices get paid faster and more accurately. The platform provides two distinct approaches to medical billing: in-house management and outsourced billing. 

In-House Management 

For practices that prefer to manage billing internally, Kareo practice management software can work as the central tool. This approach allows practices to stay in control of their billing processes while getting benefits from Kareo billing software, which is designed to automate many tasks. 

Key services include:

  • Charge Entry: Medical staff can quickly input charges for services provided to patients
  • Claim Submission: Kareo facilitates the electronic submission of claims to insurance companies
  • Payment Tracking: Kareo tracks payments and offers real-time updates on claims status

Furthermore, Kareo integrates with its Electronic Health Record (EHR) system, which ensures that the clinical and financial workflows are well-coordinated. 

Outsourced Medical Billing 

Outsourced medical billing with Kareo provides a hands-off approach if you want to focus more on patient care. With this option, the software takes over the entire billing process, including claims submissions or follow-up actions. 

Services included in outsourced billing are:

  • Claim Submissions: Kareo electronically submits claims to insurance companies, ensuring timely processing
  • Claim Tracking: Kareo takes responsibility for tracking and following up on claims that are not immediately paid
  • Payment Postings: Payments are posted directly to the system, helping practices maintain up-to-date financial records

One key benefit of outsourcing billing through Kareo is the specialty-specific billing support. Its team is well-versed in various specialties, which can lead to fewer claim denials and more accurate billing overall. 

Pros Of Kareo Medical Billing 

There are several compelling advantages that make Kareo a popular choice among healthcare providers. Here’s a closer look at the key benefits: 

  • User-friendly Interface: It minimizes the need for extensive training, allowing staff to quickly adapt to the system. The simple layout ensures that key functions are all easily accessible
  • Cloud-Based Accessibility: Since the system is hosted in the cloud, users can access Kareo from anywhere. It allows to work remotely, access patient data securely, and manage billing from various locations
  • Integrated Features: The platform reduces the need for multiple systems with integrated features like EHR, practice management, and billing. For example, patient information from the EHR system automatically syncs with billing data, minimizing the need for duplicate data entry
  • Improved Cash Flow: Kareo accelerates payment collection by automating processes, such as claim submission and payment tracking. It reduces the delays associated with manual billing
  • Scalability: The platform is adaptable and provides the flexibility to customize workflows and billing processes to meet the unique needs of different types of practices
  • Solid Reporting Tools: The software provides insights into revenue cycles, payment histories, claims status, and more. These detailed reports enable practice managers to track key financial metrics and optimize their revenue cycle

Cons Of Kareo Medical Billing 

While Kareo Medical Billing offers numerous advantages, it’s not without its limitations. Here are some challenges that practices can encounter when using Kareo: 

    Challenges associated with Kareo include:

  • Occasional Integration Issues: Some users express that Kareo integration with non-Kareo systems can be inconsistent, leading to data transfer issues and additional manual work.
  • Limited Support For Multi-Location Practices: While the Kareo platform is scalable, some multi-location practices with complex internal structures find it challenging to manage billing and reporting across various sites.
  • Complexity With Advanced Features: While Kareo is user-friendly for basic billing tasks, users may face challenges when navigating its more advanced features. Practices may need extra time and training to fully leverage these capabilities.
  • Less Efficient Mobile App: The mobile app has limited functionality, often lacking the full range of billing tools available on the desktop, such as comprehensive reporting or detailed patient record set.

Pricing Structure

Kareo Billing offers a flexible, subscription-based pricing model tailored to meet the diverse needs of medical practices. Physicians, such as Medical Doctors (MDs) and other full-time providers, benefit from comprehensive billing and practice management software that streamlines the entire billing process, resulting in faster payments. 

Non-physician providers, including Doctors of Chiropractic (DCs), Physician Assistants (PAs), and others, gain access to the same advanced tools at a discounted subscription fee. This pricing structure ensures affordability and accessibility, allowing practices of all sizes to personalize plans to meet their specific requirements. 

Conclusion

In summary, Kareo’s flexible, cloud-based platform stands out as a strong contender for healthcare practices, which provides valuable tools to achieve financial stability and operational efficiency. With scalable options for in-house and outsourced billing, Kareo accommodates various practice needs. Its integration of EHR, practice management, and billing provides a comprehensive ecosystem that helps practices operate smoothly. 

When evaluating Kareo, it’s necessary to weigh the pros and cons alongside the pricing structure to determine if it aligns with your practice’s budget and operational needs. That way, you can make a well-informed decision on whether Kareo Medical Billing is the right fit for your practice.