Kareo, Inc. Strengths, Domain Expertise, and Key Differentiators
Kareo introduced the first technology platform that helps 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. With Kareo’s platform, physicians can successfully manage all major aspects of their practice through a single, cloud-based platform that provides all of the following capabilities via a state-of-the-art desktop and mobile design, including applications for the iPhone, iPad and Apple Watch: Kareo Clinical, Kareo Billing, Kareo Managed Billing, Kareo Marketing and Kareo Marketplace.
Kareo, Inc. Recent Developments
In June 2019, Kareo appointed of SaaS industry veterans David Justus to the chief financial officer and Scott Maxwell and David Cozzens to its board of directors. These appointments further strengthen the Kareo executive team and board in support of the company’s rapid customer and revenue growth. Kareo helps over 1,600 billing companies and 50,000 providers across all 50 states run a more eﬀicient and profitable business while setting them up to deliver outstanding patient care.
Kareo, Inc. Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Kareo, Inc. applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Kareo, Inc. and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Kareo, customers.
Kareo, Inc. Overview
Ownership: - Stripes Group, Greenspring Associates, OpenView Venture Partners, WTI
Number of Employees: 545
Key Verticals: Healthcare,
Kareo, Inc. Key Enterprise and Cloud Applications
Kareo, Inc. Revenues, $M:
|Type/Year||2018||2019||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Kareo, Inc. Revenue Breakdown By Type, $M:
|Type||License||Services||Hardware||Support & Maintenance||SaaS|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe|
Kareo, Inc. Enterprise Applications Revenues By Functional Markets, $M:
Kareo, Inc. Enterprise Applications Revenues By Verticals, $M:
Kareo, Inc. Revenues By Region, $M
|Region||% of Total Revenues||2019 Total Revenues, $M||2019 Enterprise Applications Revenues, $M||2019 Cloud Applications Revenues, $M|
Kareo, Inc. Direct vs Indirect sales
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Kareo, Inc. Customers - Breakdown by Geo, Size, Vertical and Product
No. of Kareo, Inc. Customers: 50000
No. of Kareo, Inc. Enterprise Applications Customers: 50000
No. of Kareo, Inc. Cloud Customers: 50000
No. of Kareo, Inc. Cloud Subscribers: 75000
Kareo is used by over 50,000 medical providers in the US with 650 new doctors joining the Kareo user community every month. Among Kareo customers are Physicians 1st Billing Management, Med-Bill NC, Physicians Choice Laboratory Services, Global Neuro and Spine Institute, The Urology Place - Dr.Kella, Physiatry Reimbursement Specialists, Allegiance Orthopedics; Spine Institute, Newport Doctors Medical Group, Docare Clinic Walk-In, Angeles Medical Clinic, Empire medical associates, Elite Sports Physical Therapy, B.Heart, and Lung Center of Southeast Texas and many more.
Kareo, Inc. Market Opportunities, M&A and Geo Expansions
In November 2019 Kareo sold sale of its revenue cycle management (RCM) services business unit to a leading independent supplier of outsourced medical billing services, Health Prime International. Kareo will now fulfill the growing demand for outsourced medical billing services exclusively through its leading network of over 1,500 medical billing company partners. This shift in strategy enables Kareo to increase its focus on building the industry's leading cloud-based software platform for independent medical practices and the billing companies that serve them.
In June 2018, former Uber CEO Travis Kalanick has joined the board of medical software company Kareo. With Kalanicke investment, Irvine, California, based company has raised around $125 million in venture capital and had surpassed $70 million in annual revenue.
The launch of Kareo Telemedicine, a solution that enables healthcare providers to conduct secure, HIPAA-compliant video consultations with patients, comes amid explosive growth in the telemedicine space, driven by patient demand for convenient and cost-effective access to healthcare. Kareo Telemedicine was immediately available to the more than 40,000 healthcare providers using the company's cloud-based platform.
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.
Kareo, Inc. Risks and Challenges
The challenge for Kareo, like most EHR system vendors, whether it can supplement software sales with additional recurring revenue streams by becoming a medical data repository for carriers, drug companies, government agencies, or any one of the key stakeholders in the healthcare industry.
Kareo, Inc. Ecosystem, Partners, Resellers and SI
Kareo does most of its sales via direct sales force in the USA. Kareo partnered with Medicfusion, a provider of electronic health record (EHR) software solutions built specifically for chiropractors, by chiropractors. Kareo partnered with digiChart, a provider of specialty-specific EHR technology for OB/GYN practices. Through this collaboration, Kareo’s cloud-based practice management and billing solutions will seamlessly integrate with digiChart’s specialty EHR to provide the OB/GYN market with a robust, specialized solution for managing the clinical and business aspects of their practice.
Kareo, Inc. Cloud Infrastructure Insights
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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