kareo - is it time to look at new revenue streams?
DESCRIPTION
Watch recorded webinar: http://www.kareo.com/resources/webinars Are you giving money away to your competitors? If you aren’t considering additional revenue streams for your practice, you might be. Patient expectations are changing and some insurance plans are paying more if you meet new criteria or offer expanded care. In this webinar, Rochelle Glassman will discuss how adding innovative new services can increase revenue while also improving patient care and outcomes. You’ll learn: - When to add a new service and what type of services to consider - How to evaluate your payers and patients to choose the services that will generate the most revenue - How to add services that labs and other vendors may pay you directly for and that will assist in patient clinical management - And, how to train staff, market new services, and work with third-party vendorsTRANSCRIPT
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PAGE 1 KAREO | @GoKareo; #KareoTip PAGE 1
Is It Time for New Revenue Streams?
KAREO | @GoKareo; #KareoTip
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PAGE 2 KAREO | @GoKareo; #KareoTip
Our Schedule for Today…
1 Introduction & Welcome Rochelle
2 Is It Time for New Revenue Streams?
3 Discover Kareo’s Role
4 Answer Questions
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PAGE 3 KAREO | @GoKareo; #KareoTip
Your Hosts…
Rochelle Glassman President, United Physician Services, LLC
.
Lea Chatham Content Marketing Manager, Kareo
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PAGE 4 KAREO | @GoKareo; #KareoTip
Rochelle Glassman
Nationally-recognized healthcare consultant Former executive-level consultant for Cigna Healthcare business entrepreneur 30 years of healthcare business experience President/CEO United Physician Services,
LLC Physician Advocate
Trauma-trained RN
www.UPSHealthcare.com 602.685.9500
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PAGE 5 KAREO | @GoKareo; #KareoTip
Participate via Social
Facebook.com/GoKareo
Twitter.com/GoKareo
Linkedin.com/company/Kareo
We’ll be live tweeting during today’s webinar! How to participate: 1. Follow @GoKareo on Twitter 2. Search for #KareoTip 3. Join the conversation using #KareoTip
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PAGE 6 KAREO | @GoKareo; #KareoTip
Our Schedule for Today…
1 Introduction & Welcome Rochelle
2 Is It Time for New Revenue Streams?
3 Discover Kareo’s Role
4 Answer Questions
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PAGE 7 KAREO | @GoKareo; #KareoTip
You Can Make More Money
There are new opportunities:
Many preventative services are now covered!
Environment is changing from fee-for-service to pay-for-performance.
New advances in medicine can be added to your practice.
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PAGE 8 KAREO | @GoKareo; #KareoTip
Pay-for-Performance
Payment is based on metrics
HEDIS
Used by 90% of health plans
Quality measurements
Focuses on preventative care
More ‘whole picture’ approach
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PAGE 9 KAREO | @GoKareo; #KareoTip
Screening for Diabetic Retinopathy
Leading cause of blindness among diabetics:
25.8 million people in the US have diabetes
79 million have pre-diabetes
28% of diabetic patients have diabetic retinopathy
80% of referrals to obtain eye examinations NEVER OCCUR!
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PAGE 10 KAREO | @GoKareo; #KareoTip
Screening for Diabetic Retinopathy
In-house optometrist
Increase patient compliance
Improve clinical outcomes
Reimbursement for eye exams AND bonus from health plan!
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PAGE 11 KAREO | @GoKareo; #KareoTip
Dermatology Care
Most common form of cancer but easily treatable 1 in 5 get skin cancer Bringing in on-site dermatologist Additional revenue Better detection Improved compliance
Joint ventures with MOHs lab
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PAGE 12 KAREO | @GoKareo; #KareoTip
Drug Testing
Traditionally patients were sent to the lab
Toxicology down to the nanogram
Better to assess in clinical setting
EHR compatible
Reimbursement of about $25 to $30
- Medicaid & Medicare CPT (G0434) - Insurance & Work-Comp CPT (80104)
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PAGE 13 KAREO | @GoKareo; #KareoTip
Drug Testing
Pain Management
Neurology
Anesthesiology
Surgeons (post operative and pre operative)
Treatment centers
OB/GYN
Internal Medicine
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PAGE 14 KAREO | @GoKareo; #KareoTip
Depression Research Studies
New, clinically valuable testing strategies
Target depression and appropriate treatment
Historically subjective, now more objective
Lab reimbursement at $75 per patient
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PAGE 15 KAREO | @GoKareo; #KareoTip
Depression Research Studies
Primary care docs misdiagnose depression 50% of the time
First of class blood test Looks at 9 bio markers across 4
pathways
Score of 1-9 with sensitivity of 94% and specificity of 92% overall accuracy of 93%
Score of 1-4 = 95% likelihood of not having major depressive disorder (MDD)
Score of 5-9 = 90% likelihood of having MDD
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PAGE 16 KAREO | @GoKareo; #KareoTip
Pharmacogenetic Testing
New system of prescribing according to genetic make-up
More accurate
Better results
Less side effects
Potential marketing
Additional revenue stream
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PAGE 17 KAREO | @GoKareo; #KareoTip
Pharmacogenetic Testing
100,000+ die each year due to medication-related errors
770,00+ are hospitalized yearly for Adverse Drug Reactions
Prescribe medications through science, not guesswork!
Zero capital costs to the practice
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PAGE 18 KAREO | @GoKareo; #KareoTip
Pharmacogenetic Testing
Remuneration of either $15 or $75 per patient working
Simple 30 second cheek swab
Reimbursed by all plans except Medicaid
Specialties: primary care, internal medicine, pain management, neurology and psychiatry
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PAGE 19 KAREO | @GoKareo; #KareoTip
Medical Weight Loss
Covered for up to 26 visits per year (exclusions may apply) for patients with a BMI >30.
1 visit every week for first month
1 visit every other week for 2-6 months
1 visit every month for months 7-17
CPT code G0447
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PAGE 20 KAREO | @GoKareo; #KareoTip
Medical Weight Loss
Nutritional counseling covered with certain patients with diabetes and renal disease (i.e., CPT code 97802 and 97803)
Partner with specialties to attract patients
Great preventative measure to achieve benchmarks
Happier patients
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PAGE 21 KAREO | @GoKareo; #KareoTip
Our Schedule for Today…
1 Introduction & Welcome Rochelle
2 Is It Time for New Revenue Streams
3 Discover Kareo’s Role
4 Answer Questions
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PAGE 22 KAREO | @GoKareo; #KareoTip
Discover Kareo’s Role
Cloud-based Medical Billing Patient Payment Services Insurance Billing & Remittance Scheduling & Practice Management Electronic Health Records Medical Billing Services Education, Training, & Support Included
20,000 Providers Nationwide
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PAGE 24 KAREO | @GoKareo; #KareoTip
Educational Resources
Kareo.com/meaningful-use
Kareo.com/icd-10
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PAGE 25 KAREO | @GoKareo; #KareoTip
Discover Kareo’s Role
•Kareo EHR • In-house labs • In-house
draw/swab and send out lab
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PAGE 26 KAREO | @GoKareo; #KareoTip
Discover Kareo’s Role
•Kareo EHR • In-house labs • In-house
draw/swab and send out lab
• Mental health notes and templates
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PAGE 27 KAREO | @GoKareo; #KareoTip
Discover Kareo’s Role
•Kareo EHR • In-house labs • In-house
draw/swab and send out lab
• Mental health notes and templates
• Obesity templates
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PAGE 28 KAREO | @GoKareo; #KareoTip
Discover Kareo’s Role
•Kareo EHR • In-house labs • In-house
draw/swab and send out lab
• Mental health notes and templates
• Obesity templates • USPSTF
Recommendations
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PAGE 29 KAREO | @GoKareo; #KareoTip
Discover Kareo’s Role
•Kareo EHR • In-house labs • In-house draw/swab
and send out lab • Mental health notes
and templates • Obesity templates • USPSTF
Recommendations • Kareo PM
• Track HEDIS measures
• Schedule multiple providers/resources
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PAGE 30 KAREO | @GoKareo; #KareoTip
Let’s Answer Your Questions
866-231-2871 [email protected] Kareo.com/chat
Facebook.com/GoKareo
Twitter.com/GoKareo
Linkedin.com/company/Kareo
Follow us!