Vancouver, British Columbia--(Newsfile Corp. - January 16, 2025) - Kovo+ Holdings Inc. (TSXV: KOVO) (formerly Kovo HealthTech Corporation) ("Kovo" or the "Company") is pleased to announce that it has entered into a strategic partnership with Open Practice Solutions, LTD ("Open Practice"), a leading provider of practice management software. This partnership will enable Kovo to utilize Open Practice Solutions' OpenPM Billing Service ("OpenPM") as a single platform, transitioning both existing clients and new acquisitions to this unified system.
OpenPM is a comprehensive billing and practice management solution that offers a wide range of features and benefits, including:
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Master System Libraries: OpenPM's shared master tables for insurances, referring providers, CPT codes, ICD transactions, and more to centralize data management. OpenPM's shared master tables will enable Kovo to standardize billing processes seamlessly across all acquired practices.
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Staff Productivity Reporting: OpenPM's robust reporting capabilities will give Kovo insight into productivity across all client databases, helping to identify and resolve bottlenecks in the billing workflow.
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Data Conversion Options: With both basic and full demographic data conversion services, OpenPM will support Kovo in ensuring smooth transitions of patient data from acquired practices into Kovo's systems.
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Training and Integration Options: Open Practice provides diverse training methods, including on-site, web-based, and corporate training center programs. Kovo will utilize these services to ensure staff at newly acquired practices are equipped to proficiently use OpenPM.
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EHR Interfaces: OpenPM offers standard HL7 interfaces that will allow Kovo to seamlessly integrate with electronic health record (EHR) systems used by acquired practices.
"We are thrilled to partner with Open Practice to optimize our business and drive efficiencies across the board," said Justin Anderson, CEO of Kovo. "The powerful features and flexibility of OpenPM will allow us to enhance billing operations, improve overall operational efficiency, and elevate the experience for our clients. Open Practice will be a key component to our company culture "One Vision," focusing on one system, one process and one team."
About Kovo+ Holdings Inc.
Kovo is a versatile technology company leading the charge in AI initiatives to drive impact and innovation across diverse industries. Kovo remains committed to its core business-model of strategic growth opportunities within mid-market Medical Billing firms, where exploitive business optimization synergies exist. Moving forward, Kovo will integrate accretive broader healthcare sector additions to its portfolio and opportunities beyond in multiple new markets. Dedicated to revolutionizing business processes optimization through technological advancements and evolving AI applied methods, Kovo embodies a commitment to ensured and enduring profitability. To learn more about Kovo and to keep up to date on Kovo news, visit www.kovoplus.com.
About Open Practice
Open Practice is a leading provider of innovative practice management software, offering comprehensive solutions designed to optimize billing, practice management, and patient data integration for healthcare providers and revenue cycle management (RCM) companies. They provide a unified, customizable system that streamlines operations, enhances productivity, and ensures seamless interoperability with Electronic Health Records (EHR). With features like master system libraries, real-time reporting, and data conversion, Open Practice helps organizations reduce administrative burden, improve financial outcomes, and provide exceptional service. The company is committed to supporting clients through training and integration to ensure smooth adoption of its platform.
Forward-Looking Information
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the timing and anticipated benefits of OpenPM. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof, and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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