Kareo Acquires Healthcare Process Automation Company PatientlySpeaking

Kareo, a cloud-based clinical and business management software provider for independent healthcare practices and billing companies, acquired PatientlySpeaking, a process automation technology provider for billing companies and medical practices.

The financial terms of the acquisition were not disclosed.

Kareo, founded in 2004, serves more than 75,000 healthcare providers across the U.S. Kareo said: the acquisition expands its billing offerings and automation efficiency. “PatientlySpeaking has served Kareo customers with an unmatched level of automation for the past five years. Many of our billing companies and larger direct practice customers have experienced firsthand the power of automation through RPA,” Dan Rodrigues, founder, and chief executive officer, Kareo, said. “Together with PatientlySpeaking, we can now empower our customers like never before.”

“We have used PatientlySpeaking for patient self-pay calls for a few years now, and they have saved us a great deal of time and money. The integration with Kareo makes everything run smoothly,” Terri Newton, owner, Multi-Medical Specialties Billing, said.

PatientlySpeaking, founded in 2011, provides a robotic process automation technology for healthcare providers; and its technology generates millions of automated transactions for healthcare practices and billing companies, according to the company.

The PatientlySpeaking process automation solution also provides an integrated data connection for billing companies and medical practices that automates repetitive routine medical tasks. “Our partnership with Kareo has expanded over the last few years in a way that has proven beneficial to our mutual customers. With our shared vision of providing world-class software to the medical field, it has been easy for us to work together. Now, as one team, we can truly unleash the power of our technology in an even more profound way to better serve those customers – and the industry,” said Brian Cafferty, founder, and CEO of PatientlySpeaking.

One hundred thirty-six digital health companies were acquired in the first half of 2021 compared to 83 in 1H 2020. Telstra Health, a practice management software company, agreed to acquire healthcare practice management software company MedicalDirector for $350 million.