|By PR Newswire||
|January 22, 2013 04:00 PM EST||
IRVINE, Calif., Jan. 22, 2013 /PRNewswire/ -- Kareo, Inc., the cloud-based medical office software provider for small medical practices, announced today the closing of a new $20.5 million equity investment led by Stripes Group with participation from existing Kareo investor Western Technology Investments. This new funding is in addition to the $18 million previously raised, bringing Kareo's total funding to more than $38 million. Kareo will use the new capital to launch Kareo Billing Services, a technology-enabled revenue cycle management solution for small medical practices, and is extending its market reach and leadership position through new investment in sales and marketing.
"This latest investment is another key milestone for Kareo and our efforts to deliver intuitive and affordable medical office software and services to our small practice customers. We welcome Stripes Group to Kareo's investor base and Ken Fox, managing partner of Stripes Group, to Kareo's Board of Directors," said Dan Rodrigues, founder and CEO of Kareo. "We are looking forward to working with Stripes Group alongside our existing investors as we pursue the next exciting phase of Kareo's growth."
Kareo's latest fundraising marks the close of a record-breaking 2012 for the company, during which time Kareo doubled revenue and its employee base while surpassing 6,000 customers representing over 16,000 providers.
"Stripes Group was attracted by Kareo's unparalleled track record at building and deploying cloud-based software into the small practice medical market. The company's growth rate over the last few years has been phenomenal and is a testament to the strength of Kareo's ability to execute in an area where many have failed," said Fox. "We have considerable confidence in Dan and his team and are proud to be part of an amazing company and its ongoing efforts to help small practices thrive and prosper."
Small medical practices are known for creating intimate, long-standing patient relationships that focus on a continuum of care. Kareo enables physicians and administrative staff to streamline office management by simplifying billing, scheduling and recordkeeping. By easing the administrative burden faced by small practices, Kareo enables physicians and their staff to increase their focus on patient care.
Kareo Billing Services
Responding to market demands for improved billing services for small medical practices, the company has launched Kareo Billing Services. Kareo's convenient front-office tools are now combined with a dedicated team of medical billing experts whose sole purpose is to help medical offices get paid for the important services they provide. Unlike traditional approaches, Kareo's model brings the ultimate flexibility, giving physicians the options to choose a full-service plan, software only plans, or migrate between the plans as the needs of the practice change.
"With all the pressures of running a medical practice today, our customers need companies who will adapt with them," said Rodrigues. "When practices have staff and expertise to do their own billing, then our software is perfect for them. When they face challenges and need our billing help, then our people are ready to step in."
To ensure a seamless transition to Kareo Billing Services, Kareo has developed a Customer Success Program through which it works closely with customers to learn existing processes while establishing a plan to optimize these processes by leveraging Kareo's cloud-based software and billing services team. Practice optimization can take the form of electronic claim form submission enrollment, establishing standard fee schedules, logging payer specific contract rates, setting up appointment schedules, and mapping workflows from any integrated electronic health record applications. Following the rollout of Kareo's Billing Services solution, small practices often experience significant improvements in billing collection rates and timing as well as the benefits derived from eliminating the complexity and hassles of directly managing the billing process with insurance companies and patients. This is another way Kareo helps small practices reduce administrative burdens while shifting focus to their core mission of patient care.
Kareo Medical Billing Partner Program
Kareo also announced the creation of the Kareo Medical Billing Partner Program. This new program is targeted at the more than 600 billing companies that use Kareo's Practice Management software today; one of the largest established billing company networks in the U.S. Medical billing companies can take advantage of new Kareo benefits and support designed to help them grow their businesses and deepen their relationships with their customers.
By offering Kareo Billing Services and the extensive choices available through Kareo's Medical Billing Partner Program network, small practices will have multiple ways to address their unique needs – such as specialty expertise, advisory services, and local presence.
Both the Kareo Billing Services and the Kareo Medical Billing Partner Program are currently available in the U.S. For more information please visit www.kareo.com.
Kareo is the only medical office software and services provider dedicated to serving the small practice. Kareo believes that, with the right tools and support, small practices can do big things. Over 16,000 medical professionals count on Kareo to manage their offices intuitively and affordably. Quick to set up and simple to use, Kareo's cloud-based software helps doctors get paid faster, keep cash flowing, and see the financial big picture through medical billing and practice management tools. Founded in 2004, Kareo's mission is to free doctors' hands for important work of patient care. For more information on Kareo, visit www.kareo.com.
About Stripes Group
Stripes Group is an entrepreneurial growth equity firm that makes $10 million to $100 million minority and majority investments in Internet, SaaS, Healthcare IT and branded consumer products businesses. Stripes was founded by entrepreneurs to be a resource for successful entrepreneurs. We invest in rapidly growing businesses that are market share leaders with proven business models and annual revenues in excess of $15 million. Visit www.stripesgroup.com to learn more.
Feinstein Kean Healthcare | an Ogilvy Company
P 617 761 6733
SOURCE Kareo, Inc.
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Jan. 19, 2017 11:45 AM EST Reads: 1,686
"What is the next step in the evolution of IoT systems? The answer is data, information, which is a radical shift from assets, from things to input for decision making," stated Michael Minkevich, VP of Technology Services at Luxoft, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 19, 2017 10:00 AM EST Reads: 5,545
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions with...
Jan. 19, 2017 10:00 AM EST Reads: 5,544
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Jan. 19, 2017 09:30 AM EST Reads: 6,015
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Jan. 19, 2017 07:30 AM EST Reads: 3,628
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, discussed the best practices that will ensure a successful smart city journey.
Jan. 19, 2017 07:00 AM EST Reads: 2,005
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
Jan. 19, 2017 07:00 AM EST Reads: 1,209
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
Jan. 19, 2017 06:00 AM EST Reads: 844
@ThingsExpo has been named the ‘Top WebRTC Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @ThingsExpo ranked as the number one ‘WebRTC Influencer' followed by @DevOpsSummit at 55th.
Jan. 19, 2017 06:00 AM EST Reads: 4,756
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Jan. 19, 2017 05:30 AM EST Reads: 1,901
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jan. 19, 2017 01:15 AM EST Reads: 6,111
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 19, 2017 12:45 AM EST Reads: 4,728
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
Jan. 18, 2017 09:45 PM EST Reads: 6,535
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Jan. 18, 2017 09:30 PM EST Reads: 7,646
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
Jan. 18, 2017 09:30 PM EST Reads: 5,754
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Jan. 18, 2017 07:30 PM EST Reads: 3,161
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus o...
Jan. 18, 2017 06:15 PM EST Reads: 4,211
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
Jan. 18, 2017 05:30 PM EST Reads: 4,917
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Jan. 18, 2017 04:45 PM EST Reads: 4,626
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
Jan. 18, 2017 04:30 PM EST Reads: 4,841