Platform positions independent practices to thrive in an era of consumer-driven care and new reimbursement models
Kareo, a leading provider of cloud-based solutions for independent medical practices, today announced the launch of the first and only complete, seamlessly integrated technology platform purpose-built for the unique needs of independent medical practices. While other solutions in the industry have point-products serving various aspects of a practice, Kareo is the first to combine all clinical, administrative, billing, practice marketing and patient engagement functions in one end-to-end platform.
According to Black Book’s 2015 user survey, 86 percent of independent medical practices aim to integrate physician practice management, billing services and the electronic health record (EHR) into a single vendor solution. Within Kareo’s existing customer base of over 35,000 physicians and other healthcare professionals, over half already utilize integrated solutions from the company. With this clear demand for seamlessly integrated solutions, Kareo set out to deliver a complete technology platform to help doctors efficiently and effectively manage all of the major functions of their practice.
“We believe that independent practices are in the best position to provide the personalized, results-oriented and cost-effective care that consumers demand and deserve,” said Dan Rodrigues, founder and CEO of Kareo. “With this belief in mind, we purpose-built our new platform to help independent physicians do what they do best, deliver outstanding care, while also boosting their confidence in successfully navigating through an uncertain and challenging compliance and business environment.”
According to the Journal of the American Medical Association, care delivered through health systems costs patients and payers 56 percent more than care delivered through smaller practices. Despite this compelling data, independent practices have been underserved by technology, often having to choose among enterprise-oriented systems that are better suited for the workflow and revenue cycle processes of larger healthcare organizations. Because of this, Kareo worked to deliver right-sized solutions that help independent physicians enjoy the benefits of delivering patient-centric care without a decrease in productivity or revenue.
“I greatly appreciate Kareo’s continuing efforts to build a technology platform that serves my unique needs and helps me stay competitive,” said Dr. Mark Miller, Independent Family Physician. “As an independent physician, I am concerned about the regulatory and reimbursement environment in healthcare today but remain confident that, with Kareo, I can successfully and profitably run my practice.”
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
– Provides a fully-certified EHR, including charting, prescribing, labs and patient data management with key front office functions.
- Kareo Billing
– Enables practices and medical billing companies to successfully manage their claims and A/R, enter charges, send patient statements and analyze financial health of the practice.
- Kareo Managed Billing
– Allows practices to outsource their billing processes directly to Kareo to more conveniently manage their billing outcomes.
- Kareo Marketing
– Helps practices monitor and grow their online presence, respond to online reviews, automate patient communications and build patient loyalty.
- Kareo Marketplace
– Extends the value of Kareo via third-party clinical, accounting, finance and storage functions to help practices write specialty-specific notes, manage financial and accounting workflows and store practice data.
Kareo’s continuous product innovation and success showcases a heightened market opportunity and increased need for technology solutions purpose-built for independent medical practices. Kareo has been recognized by Inc. and Deloitte as one of the nation’s fastest growing companies with a 368 percent increase in revenue between 2012 and 2015. Additionally, the company grew its customer base by over 650 new providers per month in 2015.