Finding the ROI in Your EHR

KAREO | @GoKareo; #KareoTipPAGE 1 KAREO | CONFIDENTIAL
Finding ROI in Your EHR

KAREO | @GoKareo; #KareoTip
Our Schedule for Today…
1 Introduction & Welcome Laurie & Joe
2 Finding ROI in Your EHR
3 Discover Kareo’s Role
4 Answer Questions

Your Hosts Today…
Laurie Morgan
Senior Consultant & Partner,
Capko & Morgan
Joe Capko
Senior Consultant & Partner,
Capko & Morgan

Participate via Social
Facebook.com/GoKareo
Twitter.com/GoKareo
http://kareo.ly/kareogroup
We’ll be live tweeting during today’s webinar!
How to participate:
1. Follow @GoKareo on Twitter
2. Follow @LeaChatham on Twitter
3. Search for #KareoTip
4. Join the conversation using #KareoTip

Laurie Morgan
 Practice management and healthcare
consultant
 Focus on revenue growth, operational
excellence and start-up strategy
 Author of Management Rx e-book
series: Get the Best From Your Medical
Billing Service and Patient Flow
Mistakes Smart Practice Manager
Make – and How to Avoid Them
 Laurie has an MBA from Stanford
University
lmorgan@capko.com
info@capko.com
www.capko.com

Joe Capko
 Specializes in strategic planning, business
development, qualitative/quantitative
studies, and statistical analysis
 Conducted patient satisfaction and
community needs assessments for all
sizes
 Over ten years experience with statistical
research
 Fielded public opinion polls for Public
Research Institute and PC World Magazine
 BA in Political Science and Urban Planning
joe@capko.com
info@capko.com
www.capko.com

Our Schedule for Today…
1 Introduction & Welcome Laurie
2 Finding ROI in Your EHR
3 Discover Kareo’s Role
4 Answer Questions

Why Did You Get an EHR?
 “The government said we had to”
 “We were afraid of penalties”
 “We wanted the Meaningful Use money”
 “All our peers were doing it”

The Right Thing for the Wrong Reasons
 Think positive: even
vegetables can taste good!
 Odds are:
– Your EHR already delivers a
positive return
– Higher ROI is a few simple steps
away
© raphotography - Fotolia.com

ROI=Return on Investment
 Costs are easy to spot
 Revenue/expense reduction can be less
obvious
– Offset costs
– Billing and coding consistency
– Marketing and analysis tools
– New revenue generating opportunities
– Physician convenience; efficient access and
teamwork
– Error reduction

Hidden Costs of Paper Charts
 ROI assessments often underestimate
paper chart costs
– Space (medical records, fax, inventory)
– Supplies
– Risks of errors, damage, destruction
– Staff (records management, transcription,
prescriptions, slower patient flow)
– Inconvenient access – delayed care

Less Paper, More Profit
 Repurpose your medical records area
– Conference room
– Physician office space (convert existing offices
to exam rooms?)
– Clinical research
– Workflow: phlebotomy, vaccinations, sub-waiting
 Redeploy staff, or downsize through
attrition

Billing and Reimbursement
 Better coding  up-coding
 But better documentation avoids
denials, enables appeals
 Integration saves billing time, reduces
missed charges
– If you don’t have an integrated system, start
shopping

Segment Your Patients for Marketing
 Preventive care
 Follow-up care
 Elective services
 Possibly even payer negotiations
 Many of these activities contribute to MU

Start With Standard Reports

Explore Custom Reporting

New Revenue Sources, New Rules
 Group visits – use EHR to pull,
poll population
 Care coordination
 PCMH
 Value-based payments

Growth of FFS-Alternative Programs
Program Started Current Participation
ACOs 2012 600+*
PCMH 2008 27,000+ clinicians**
~7,000 practice sites
~10% of PC practices
Other alternative
payment models
HHS Announcement:
January 2015
20 hospitals and health
plans already set 75%
alternative payment
target***
Source:
*Leavitt Partners/Becker’s Hospital Review
**NCQA
***Advisory Board Company (Daily Briefing)

Insist On Quality
 Get the training you need for
reporting
 Add a module like Crystal Reports
if necessary
 Make sure templates are up to
date – structured data is key to
reporting

Internal Communication and Efficiency
 Tasking and instant messaging
 Tablet systems, portals allow patients
to enter their own data
 Patient forms (population health,
school forms)

Tasking and Instant Messaging
 Physicians can communicate with staff
without leaving room
– Request supplies, order labs
 Billing, scheduling questions can be
answered in real-time
 In some cases, messages can be
attached to patient
 Pitfall: tasking in lieu of immediate
handling

“Within primary care practices, valid
patient entered family health history
data can be obtained electronically at
higher rates than a standard of care that
depends on provider-entered data.”
 Murray, MF, Giovanni, MA, et al – J Gen Internal Med, Dec
2013

Portals: What if Some Patients Refuse?

Portals: Get ROI from Willing Adopters
 Every patient that uses it increases your ROI
– Scheduling
– Labs and prescription updates
– Entering own data
– Communication (marketing)
– Online payments

More Under-tapped Features
 Fax server
 Integration with Dragon or
scribe service
 Measure workflow efficiency
 Automate patient forms (e.g.,
school forms)

Build Your Career Skills
 Create a super-user team
 Join local user groups for your
vendor
 Brainstorm with other practice
managers in your specialty

Time for a Switch?
 Look to the cloud
 Insist on integration – even if using two
vendors
 Consider reporting, portal quality,
other tools
 Plan for post-adoption (re)training

Discover Kareo’s Role
Cloud-based
Insurance & Patient Billing
Scheduling & Practice Management
Electronic Health Records
Medical Billing Services
Education, Training, & Support
Ranked #1 by Black Book 2 Years
25,000 Providers Nationwide

• Kareo EHR
• Over 150 templates
• Create custom
templates
• eRX and eLabs
• Built for mobile
• Training,
implementation,
and ongoing
support

• Kareo Practice
Management
• Simple workflow
• Updated Medicare
Fee Schedule
• Claim tracking
• Patient collections
• ICD-10 ready

• Kareo PM
• Kareo Billing
Services
• Kareo Virtual Office
• Kareo Partners
• Online appt.
scheduling
• Text reminders
• Recalls
• Reputation
Management
• Specialty EHRs

How to Participate Today…
Type your questions
888.775.2736 x1
sales@kareo.com
-- Questions After the Webinar --

Finding the ROI in Your EHR

Recommended

Recommended

More Related Content

Similar to Finding the ROI in Your EHR

Similar to Finding the ROI in Your EHR (20)

More from Kareo

More from Kareo (20)

Recently uploaded

Recently uploaded (20)

Finding the ROI in Your EHR