webinar

Timely Tips to Maximize Year-End Profitability & Tame the Deductible ResetPresented by Laurie Morgan October 20, 2016

@GoKareo

Agenda

2

Agenda

2

• Welcome & Introductions• Timely Tips…• How Kareo Can Help• Your Questions

@GoKareo 33

How to Participate Today…

Type your questions

Download today’s resources

View today’s presentation

@GoKareo 44

Connect via Social

Connect with us via social media

How to connect:

1) Follow @GoKareo on Twitter2) Follow @LeaChatham on Twitter3) Follow @CapkoandMorgan on Twitter

twitter.com@GoKareo

facebook.com/GoKareo

linkedin.com/company/kareo

@GoKareo 55

Speaker

Laurie Morgan, MBA• Senior consultant & Partner at Capko &

Morgan• Has managed start-ups and large scale

operations• Focused on medical practice

management for five years• Expert in driving and capturing

revenue and operating more efficiently• MBA from Stanford University

@GoKareo

Agenda

6

Agenda

6

• Welcome & Introductions• Timely Tips…• How Kareo Can Help• Your Questions

@GoKareo 77

Patient Finances: a Tale of Two Quarters

Q4:

• Some patients have met deductibles, or come close

• Some may be close to a tax threshold from healthcare

• Many patients face holiday expenses, commitments

Q1:

• Patients face 100% deductible

• Holiday bills come due• Patients may have different

insurance plan

@GoKareo 88

Patient Decisions: a Tale of Two Quarters

Q4:

• Patients nearing thresholds may wish to book procedures

• Patients may value reminders

• Holiday expenses, activities increase in importance

• Patients may be more likely to miss appointments

Q1:

• Patients may put off non-urgent care

• Patients may put off care that they shouldn’t

• Patients may misunderstand new plans

• Patients may misunderstand follow-up

@GoKareo 99

Practice Ideas for Bridging Q4 and Q1

Q4:

• Encourage patients to book if timing helps them

• Avoid no-shows: Hone phone scripts, reminders

• Make payment easy for patients with balances

• Decide what you want from Q1

• Get your marketing for Q1 in order

Q1:

• Schedule optimally for the volume you have

• Encourage patients to book for visits that don’t hit deductibles

• Make sure you’re not turning new patients (new insurance) away

• Market for non-insurance services

@GoKareo 1010

Making the Most of Q4

• Reach out to patients who put off procedures earlier in the year- Search by diagnosis and procedure codes, notes- Clinicians may be able to help- Tracking not up to snuff? Plan now to improve it for ’17

• Consider general information for all of your patients- Remind about deductible, tax thresholds, and year end procedures- Email, social media, website, hold greetings, signs/flyers in office

@GoKareo 1111

Making the Most of Q4

• Cross-promotion and referrals- Analyze referral patterns and give meaningful thanks- Be sure communication loops are solid- Look for cross-promotional opportunities – for Q4 and beyond

@GoKareo 1212

Making the Most of Q4

• Time to up your no-show game- Emails, mobile numbers, and preferences when booking- Check in with your PMS and EHR vendors about automation- Scripts: “We’re very busy this time of year”- Make sure you are tracking no-shows accurately

@GoKareo 1313

Making the Most of Q4

• Patient collections still important- Make it easy for patients to pay – money may be tight- Payment portal, credit-card-on-file help now – and in the future

@GoKareo 1414

Planning for January

• Analyze prior schedules- What was actual volume?- Without gaps, how many full days in Jan, Feb, March?

• Fight with marketing or take advantage of downtime?

@GoKareo 15

Very

Somewhat

Not very

Not a problem

Don't know

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%

46%

41%

8%

3%

2%

How significant of a problem is burnout in your practice?

(n=843 physicians)

Source: Kronos/MedData Group/Capko & Morgan survey, July 2016

@GoKareo 1616

Taking Advantage of Lower Volume

• Clinician breaks, volunteer work, or education• Technology training and trials• Staff training, in-services, and cross-training• Plan with purposeful scheduling

@GoKareo 1717

No Relief in Sight

@GoKareo 18

@GoKareo 1919

Some Patients May Have New Insurance

• Pre-authorization requirements may have changed• Some patients will have new insurance: still in-network?

@GoKareo 2020

Prepare to Schedule, Collect More Effectively

• Technology: real-time eligibility, payer portals, cc-on-file, ePA• (Re)training for staff

- Checking for coverage changes- Importance of keeping follow-up appointments- Explaining payment terms and options- Preventive care

@GoKareo 2121

Source: MedData Point survey by MedData Group and Capko & Morgan, Feb 2016

Time to Try New Tech?

@GoKareo 2222

Look for Win-Wins Like Payment Portals

@GoKareo 2323

Advantages to Promote in Q1

• Work with practice partners- Urology/OB – cross-promote vasectomies (sports), fertility- GI – make sure PCPs know how colonoscopies are booked

• Promote services that don’t carry deductibles (preventive)- Less wait to be seen, no out-of-pocket (mostly)

• Promote to patients without deductible issues- Get your knee done when scheduling is easy

• New Year’s resolutions – cosmetic dermatology, weight loss

@GoKareo 2424

Inbound Marketing

• Reputation Management- Payer directories!- Ratings directories- Social media

• Engage staff• Website refresh

@GoKareo 2525

Outbound Marketing (Traditional)

• Create demand instead of just responding to it• Think local: school play programs, church bulletins, papers, and

sites- Remember secondary targets- Be sure you don’t just put your name and address [e.g., promote

grandma’s knee or colonoscopy]

• Free consultations for cash services

@GoKareo 2626

Summing Up

• Patients may value reminders, help scheduling year-end procedures

• Collections are a year-round challenge, but Q4 and Q1 have special considerations

• Technology, tracking, training, planning pay off now and later• Plan ahead to turn downtime into an advantage• Consider both inbound and outbound marketing tactics

@GoKareo

Agenda

27

Agenda

27

• Welcome & Introductions• Timely Tips…• How Kareo Can Help• Your Questions

@GoKareo 2828

Awards and Rankings

Growth awards The speed at which

medical practices are moving to Kareo and referring it to other

providers.

Best places to work Happy, engaged

employees stay longer, have more experience and

offer better customer service

Analyst reviews 3rd party recognition,

driven by direct customer feedback,

equals trust and credibility

@GoKareo 2929

Kareo Platform

Kareo Marketing• Marketing and front

office automation• Online visibility and SEO • Online appt. scheduling • Email, text & voice

recording appt. reminders

• Post visit patient reviews• Practice analytics for ROI• Patient communications

@GoKareo 3030

Kareo Platform

Kareo Billing

• Centralized A/R Management

• Intuitive Billing Analytics • Easy & accurate charge

capture• Eligibility Verification• Patient collections (online

bill pay and credit card on file)

• Secure messaging• Powerful scheduler/appt.

reminders

@GoKareo 3131

Kareo Platform

Kareo Clinical

• Comprehensive dashboard

• Simple charting• Easy ePrescribing• Convenient eLabs• Specialty templates• Electronic Superbill• Integrated Patient

Portal • Secure messaging

@GoKareo 3232

Kareo Platform

Kareo Managed Billing• Dedicated team of specialists • Simple scheduling/calendar• Charge Capture (web/mobile)• Nationwide Billing Rules Engine• Claims tracking• Billing Tasks• Billing Analytics

@GoKareo 3333

Discover Kareo’s Role

• PAHCOM has approved 1 CEU credit.• Each attendee will receive an email today

with a link to request certification. Certificates will be mailed within the next few days.

• Attendees must be logged into the webinar to receive credit.

• You’ll be asked at the end of the webinar if you want a CEU certificate.

“…Make Your Practice a Best Practice!”

@GoKareo

Agenda

34

Agenda

34

• Welcome & Introductions• Timely Tips…• How Kareo Can Help• Your Questions

@GoKareo 3535

How to Participate Today…

Type your questions

-- Questions After the Webinar --

888.775.2736 x1sales@kareo.com

Connect with KareoStop by and say hi!

Kareo @GoKareo GoKareo Kareo

3353 Michelson Drive, Suite 400Irvine, CA 92612(888) 775-2736