Business
Kovo HealthTech Provides US Billing-as-a-Service Market Update
Omicron-Related Healthcare Outsourcing Trends Continue to Drive BAAS Growth Vancouver, Britis...
About this update from Kovo+ Holdings Inc
[{"type":"text","content":"Kovo HealthTech Provides US Billing-as-a-Service Market UpdateOmicron-Related Healthcare Outsourcing Trends Continue to Drive BAAS GrowthVancouver, British Columbia--(Newsfile Corp. - February 7, 2022) - Omicron-related healthcare labour shortages are continuing to accelerate the US shift to digital medical billing outsourcing, according to Kovo HealthTech Corporation (TSXV: KOVO) (the \"Company\" \"Kovo\") — a leader in healthcare technology and Billing-as-a-Service (\"BAAS\").Kovo CEO Greg Noble says the Company's revenues have grown steadily and predictably throughout the pandemic, illustrating the long-term stability of the global Billing-as-a-Service healthcare industry, which is anticipated to reach $250 billion by 2028 - growing at an expected average compound annual growth rate of 11.2%. \"Typically, the Billing-as-a-Service market operates on very long-term contracts,\" explains Noble. \"Thanks to our team's ability to help take the strain off healthcare providers by simplifying their back office medical billing systems and ensuring they get paid more quickly, we've grown to support over 1,700 healthcare providers in more than 40 States,\" he says.According to Noble, the combination of stable contracts, pandemic-propelled acceleration of digital healthcare outsourcing — and the Kovo team's ability to leverage its technology platform to add top and bottom line efficiencies — combined to form the foundation for the Company's recently released 2022 Guidance and anticipation of a 30% increase in year-over-year organic growth (excluding additional acquisitions) in 2022. About Kovo HealthTech Corporation Kovo HealthTech Corporation is a growing healthcare technology company that specializes in Billing-as-a-Service offering SaaS-style recurring revenue contracts and software for more than 1700 US healthcare providers. Kovo helps healthcare providers digitally track and manage complex patient care registration, services, billing and payments in a seamless way, using its proprietary OneRev technology platform. Currently, through its clients, Kovo processes billing transactions for more than 3.5 million patients. By offering effective billing practices and technology through long-term SaaS-style contracts, Kovo helps healthcare practitioners get paid so they can focus on offering quality care. The Company pos...