KAREO BILLING Payment Posting

Improve productivity by automatically posting electronic insurance payments and streamlining the payment posting process. Billers can automatically post insurance payments with Electronic Admittance Advice (ERAs), insurance from Explanation of Benefits (EOBs), and patient payments. Streamlining payment posting improves your productivity and saves time, so you can focus on the bigger tasks at hand – like getting paid.

Easily track your payments and easily view pertinent details like Payer, Payer Type and applicable amounts.

Kareo makes the connections to payers to help set up Electronic Funds Transfer (EFT) so you can can accept electronic payments. We also process Electronic Remittance Advice (ERA), an electronic report provided in a standard, computer-readable format by insurance companies to explain payment and adjudication of medical claims. The result is a faster insurance payment process and easier reconciliation of your patient accounts.

Automatic Posting of Electronic Insurance Payments
Kareo handles a variety of advanced electronic remittance scenarios, including denials, underpayments, overpayments, multiple adjustments, automatic cross-over, secondary remittance and more. You can easily review detailed adjustment reasons and remark codes and save processed payments in a standardized format. You can also quickly save electronic remittance reports and export your ERA reports for use with other programs, such as Medicare's Remit Easy Print software.

Leverage the Power of Explanation of Benefits (EOB) Reports
Kareo Billing streamlines the use of Explanation of Benefits (EOB) reports to post insurance payments manually. Now you can post payments using unique encounter numbers, also known as Patient Control Numbers (PCN), which Kareo submits on claims and payers return on Explanation of Benefits (EOB) reports. Simply enter the allowed amount, paid amount, and patient responsibility information, and Kareo automatically calculates the contractual adjustments and posts the appropriate transactions to the patient's account. It eliminates having to dig for information as you are posting payments. You can view a full transaction history on each charge and drill-down into the encounter for more details, and streamline your workflow by posting insurance payments in a batch that also generates reports for reconciling bank deposit slips.

Optimize Patient Collections and Increase Revenue
Your front-office users can accept patient payments during the check-in or check-out process with Kareo Patient Payments. Having an integrated self-pay solution in the front office lets you take payment at the time of service for greater collections effectiveness. This also reduces work for your biller, so they can focus on other important tasks like lowering overall patient A/R. Closing Text: Effectively posting payments is an essential part of your billing collections success plan. With the tools to streamline and automate payment posting, Kareo improves your productivity, saves time, and increases collections.

FEATURES
Kareo makes it easy to automate your payments process:

• Easily receive insurance payments by electronic funds transfer
• Uncover underpayments with contract management reports
• Automate postings and reconciliation of patient accounts
• Quickly receive electronic remittance advice report
• Automatically post insurance payments and store a copy of potential rejections on each claim