|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.
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, 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. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Dec. 3, 2016 09:30 PM EST Reads: 1,758
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
Dec. 3, 2016 08:00 PM EST Reads: 1,742
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, gave users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion with b...
Dec. 3, 2016 08:00 PM EST Reads: 3,950
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Dec. 3, 2016 06:15 PM EST Reads: 1,508
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 05:30 PM EST Reads: 4,040
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Dec. 3, 2016 05:15 PM EST Reads: 2,136
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Dec. 3, 2016 05:15 PM EST Reads: 1,998
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
Dec. 3, 2016 04:30 PM EST Reads: 1,471
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Dec. 3, 2016 04:00 PM EST Reads: 4,859
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Dec. 3, 2016 03:30 PM EST Reads: 1,591
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Dec. 3, 2016 03:15 PM EST Reads: 3,222
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
Dec. 3, 2016 03:00 PM EST Reads: 475
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Dec. 3, 2016 02:45 PM EST Reads: 721
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, sha...
Dec. 3, 2016 02:45 PM EST Reads: 786
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Dec. 3, 2016 02:45 PM EST Reads: 700
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Dec. 3, 2016 02:45 PM EST Reads: 522
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
Dec. 3, 2016 02:15 PM EST Reads: 6,955
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Dec. 3, 2016 02:00 PM EST Reads: 475
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
Dec. 3, 2016 02:00 PM EST Reads: 2,482
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Dec. 3, 2016 01:30 PM EST Reads: 2,130