DENVER, Sept. 9, 2021 /PRNewswire/ -- BillingPlatform, the leading global cloud-based monetization and billing solution provider, today announced it has signed a multi-year agreement with Kipu, the maker of an electronic medical records (EMR) system specifically designed for substance use disorder and behavioral health treatment organizations. After a thorough review of billing options on the market, Kipu selected BillingPlatform to automate and scale its existing billing processes.
Based in Florida, Kipu serves the substance use, mental health and eating disorder communities with its cloud-based technology platform, KipuEMR. A fully configurable electronic health record solution designed for the behavioral health industry, KipuEMR is the largest and most widely implemented EMR purpose-built for the addiction treatment industry. Kipu's platform is used daily by more than 80,000 users at more than 1,900 facilities around the world. The company also offers KipuCRM, a companion platform that manages the entire patient lifecycle from the very first call through admission, integrating call center, referral and marketing campaign management.
According to a recent study published in JAMA, hospital costs in the U.S. for treating substance use disorder and related health conditions total more than $13 billion annually while the total cost of treatment for all behavioral health disorders accounts for roughly 5% of total healthcare spending in the US, representing over $200 billion per year. Facing a large and growing market opportunity, Kipu recognized the need to move from its homegrown billing solution and manual processes to something fully automated as well as configurable to support Kipu's software licensing based on how many patients stay in a given facility per month and how long their treatment lasts.
"We are currently issuing 1,200+ invoices per month and that number is increasing rapidly so we knew we needed to implement a simple and scalable billing solution," said Eddie Aja, CFO of Kipu. "BillingPlatform combines an intuitive, modern architecture with the flexibility to let us configure it to our business needs and the ability to automate invoice processing rather than get delayed by manual processes."
Kipu will be deploying BillingPlatform's BillingCloud and Mediation solutions for rating and invoice generation, as well as its connectors to Salesforce for CRM data, NetSuite for ERP data, FinancialForce and Yaypay for invoice delivery, payments and collections.
"Kipu is a great example of a successful, high-growth company that created its own billing process to issue invoices in its early days, but realized their manual processes slowed billing, opened themselves up to human error and could not scale with the company's growth," said Dennis Wall, CEO of BillingPlatform. "By automating the billing process, Kipu not only frees up its finance team for more strategic projects, but also reduces the time to process invoices so the company can get paid that much sooner."
BillingPlatform is the industry-leading cloud-based software solution that enables enterprises to replace legacy systems and automate and integrate the entire billing and monetization process. BillingPlatform provides the ability to monetize products and services with any combination of one-time charges, promotional offers, subscription, usage or dynamic-based pricing. This flexibility provides organizations the ability to utilize the power of the platform to address their unique needs through configuration versus code, eliminating reliance on internal resources while reducing costs and improving the overall customer experience.
About BillingPlatform, Corp. BillingPlatform's agile billing software solution gives innovative enterprises the freedom to effectively monetize and deliver products and services resulting in growth and competitive differentiation. Our industry-leading, cloud-based platform adapts to every unique business model and pricing structure. With global customers across multiple industries including communications, transportation, manufacturing, banking, technology, energy, media, and software, BillingPlatform processes billions of transactions and dollars every year, enabling enterprises to grow revenue, reduce costs and improve overall customer experience. To learn more, visit billingplatform.com.