Kareo attributes 1040% revenue growth to an increased demand for technology tailored to meet the needs of small practices
Irvine, CA, November 13, 2014 — Kareo, the leading provider of cloud-based medical office software and services for small medical practices, today announced it ranked 114 overall on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Kareo grew 1040 percent during the five-year ranking period, and ranked in the top three in healthcare IT and 14 in Southern California.
Kareo’s founder and chief executive officer, Dan Rodrigues, credits the company’s strong growth record to an increased demand for solutions and services tailored to meet the needs of independent physician practices. Additionally, he adds that, "We are honored to be recognized alongside so many renowned technology leaders, and we look forward to further innovating our cloud-based solutions to help small practices improve operations and deliver better patient care.”
“The companies ranked on the 2014 Deloitte Technology Fast 500 continue to set the bar for their industry higher each year,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. “There are so many exciting products and smart thought leaders driving this list. We congratulate the Fast 500 companies and look forward to seeing them continue their momentum into 2015.”
“For 20 years, the Deloitte Fast 500 rankings have honored the innovation that is part of these companies’ DNA,” added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. “We’re glad to be serving these high-growth companies, and helping the technology sector recognize the great strides and transformation these companies are making in their respective areas.”
Kareo previously ranked 156th as a Technology Fast 500 award winner for 2013. The company now serves more than 25,000 healthcare providers with its integrated EHR, practice management and billing services platform, and is adding more than 500 new provider customers each month.
Overall, 2014 Technology Fast 500 companies achieved revenue growth ranging from 135 percent to 123,678 percent from 2009 to 2013, with an average growth of 1,640 percent.
Kareo is the only cloud-based medical office software and services platform purpose-built for small practices. At Kareo, we believe that, with the right tools and support, small practices can do big things. We offer an integrated solution of products and services designed to help physicians get paid faster, run their business smarter, and provide better care. Our practice management software, billing services, and free, award-winning fully certified EHR help more than 25,000 medical providers more efficiently manage the business and clinical sides of their practice. Kareo has received extensive industry recognition, including the Deloitte Technology Fast 500, Inc. 500/5000, Forbes Top 100 Most Promising Companies, and Black Book #1 Integrated EHR, Practice Management and Billing Vendor. Headquartered in Irvine, California, the Kareo mission is to help providers spend their time focused on patients, not paperwork. For more information, visit www.kareo.com.
About Deloitte’s 2014 Technology Fast 500
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2009 to 2013.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years and be headquartered within North America.
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