IRVINE, Calif., Oct. 25, 2017 /PRNewswire/ -- Kareo, the leading provider of cloud-based clinical and business management software for independent medical practices, today announced the launch of Kareo Telemedicine, a solution that enables healthcare providers to conduct secure, HIPAA-compliant video consultations with patients. This announcement comes amid explosive growth in the telemedicine space, driven by patient demand for convenient and cost-effective access to healthcare. Video consultations in the U.S. are projected to grow from 19.7 million in 2014 to an estimated 158.4 million by 2020. Kareo Telemedicine is immediately available to the more than 40,000 healthcare providers using the company's cloud-based platform today. Kareo customers simply follow their regular workflows to schedule appointments, document encounters, and bill for telemedicine visits.
Telemedicine appeals to a wide range of specialties, including primary care, mental health, physical therapy, and obstetrics. Video visits are ideal for routine consultations and follow-ups that do not require a physical examination, such as reviewing lab results, adjusting medications, and minor urgent care.
Regulations have advanced rapidly at the state level to improve the reimbursement landscape for practices offering video visits. Currently 35 states have private parity laws and 8 states have pending laws awaiting approval. All states with parity laws include real-time video conferencing as an acceptable form of telemedicine. And many private payers reimburse at the same rate as in-person encounters.
"By some estimates, medical practices and clinics may save over $100 on cost of care per telemedicine visit as compared to in-office," said Kareo Founder and CEO Dan Rodrigues. "This just makes financial sense for our customers. We have made it easy and affordable for the independent practices we serve to implement a successful telemedicine program. Our hope is that Kareo Telemedicine helps connect providers and patients by giving them a convenient, cost-effective alternative to in-office visits."
Kareo customers adding telemedicine receive their first 10 video visits free of charge. Thereafter, each confirmed video visit costs just $7. Kareo's unique per-usage pricing model enables their customers to get started with telemedicine with little financial risk, only paying for what they use.
Telemedicine solutions typically have significant upfront costs and high monthly subscription fees that are difficult to justify by most medical practices. With Kareo Telemedicine, the average reimbursement for a single visit is roughly 10 times the cost to deliver the visit, generating a positive return from the very first visit. Per visit pricing also provides practices the flexibility to use telemedicine as much or as little as makes sense for the practice and its patients.
How Kareo Telemedicine works:
- Providers who use the Kareo platform can schedule video visits using the same workflow as for in-office appointments.
- At the time of the telemedicine visit, providers launch the video window with one click to see their patients face-to-face while documenting the encounter.
- Insurance eligibility verification and billing recommendations, such as appropriate modifier codes, are included in the service.
- Scheduling a video visit in the Kareo platform also triggers automated communication to the patient to remind them of their upcoming appointment and provide secure login access at the time of the visit.
- The Kareo Telemedicine Rules Engine ensures reimbursement from private payers at the same rate as in-office visits.
Patients can easily access the HIPAA-compliant video consultations through the Kareo Telemedicine mobile app on iPhone, iPad, and Android devices. Patient populations ranging from millennials to baby boomers are eager to engage with their healthcare providers through online and mobile access.
"If given the choice, patients want to see their independent providers rather than going to large hospital networks," said Rodrigues. "When private practices add technology-enabled services like telemedicine, they stay competitive and see higher patient satisfaction. And, they generate revenue while keeping operating costs down. We're pleased to offer Kareo Telemedicine to meet the needs of providers and patients alike."
Kareo is offering a free webinar for independent medical practices:
Increase Revenue and Improve Patient Care Through Kareo Telemedicine
Wednesday, November 8, 2017
10:00 AM Pacific | 12:00 PM Central | 1:00 PM Eastern
Kareo is the only cloud-based complete medical technology platform purpose-built to meet the unique needs of independent practices in more than 45 specialties. Today Kareo helps over 40,000 providers in all 50 states run more efficient and profitable practices, processing more than 60 million patient records through the Kareo platform. The Kareo platform is the first to help independent practices find more patients, manage their care with a fully certified and easy-to-use EHR, and get paid quickly all in one complete and integrated package. Kareo has received extensive industry recognition, including the Deloitte Technology Fast 500, Inc. 5000 and Black Book's #1 Integrated EHR, Practice Management and Medical Billing vendor as well as the top of the Leader Quadrant in the Frontrunners Software Analysis of EHR. Kareo's growth further demonstrates the expansion and vitality of the independent practice market in the U.S. With offices across the country, Kareo's mission is to help independent practices succeed in an ever-changing healthcare market. More information can be found at www.kareo.com.