- Kovo HealthTech Corporation (KOVO) has provided initial guidance for the 2021 fiscal year
- The company anticipates organic revenue growth of 43 per cent year-over-year
- That growth will be driven by the company’s focus on its core RCM software and services
- Kovo HealthTech Corporation is a growing healthcare technology company that specializes in RCM services and software for US healthcare clinics, hospitals, and private practices
- Kovo HealthTech Corporation (KOVO) is up 1.69 per cent, trading at $0.60 per share
Kovo HealthTech Corporation (KOVO) has provided initial guidance for the 2021 fiscal year, anticipating organic revenue growth of 43 per cent.
The company foresees organic growth on its core Revenue Cycle Management (RCM) software and services, leading to the expected higher year-over-year growth rate.
RCM is a process used by healthcare providers in the US and globally to digitally track and manage patient care registration, services, billing, and payment.
With its recent acquisition of Midwest Medical Billing Service, which was announced earlier this month, Kovo expects revenue growth in the range of 56 to 69 per cent compared to 2020.
The company has also forecast Adjusted EBITDA to be approximately 10 per cent of its total revenue, based on higher incurred costs and professional fees. However, the expenses should normalize over time, said the company, as it scales operations for organic growth.
Greg Noble, Kovo CEO, commented on the 2021 guidance.
“I am very proud of the progress we are making as an organization in onboarding new customers through our internal sales effort,” he said.
“We look forward to building on this success in 2021,” he added, “through organic customer growth and accretive acquisitions, both of which provide consistent recurring revenue.”
Kovo HealthTech Corporation is a growing healthcare technology company that specializes in RCM services and software for US healthcare clinics, hospitals, and private practices.
The company creates, acquires, and grows businesses to better the healthcare experience within the patient encounter continuum.
Kovo HealthTech Corporation (KOVO) is up 1.69 per cent, trading at $0.60 per share as of 3:28 pm ET.
