Q: Who is GEOH, and what does the company do?
A: GEOH was co-founded in 2017 by Doug Rowe, a home care agency owner, and Dylan Vester, a technology expert focused on creating a user-friendly solution that simplifies and enhances agency operations.
GEOH’s mission is to help agencies grow and become more profitable, streamlining processes, reducing paperwork, and ensuring regulatory compliance. GEOH provides technology and a simple user interface that makes tracking and documenting client visits easier for caregivers and admins. GEOH’s software solutions offer multiple benefits for optimizing home care operations, improving caregiver satisfaction, and reducing the workload and hassle for admins.
Q: Describe your journey to become CEO of GEOH and what inspired you to join the team.
A: It was just great timing. My business partner, David Gunn, and I had recently sold a medical device company, and we were interested in exploring a private equity-backed roll-up of home health agencies.
A conversation with my friend and former board member, Oscar Moralez, [Founder & Managing Partner at Boomerang Ventures], led us to discover GEOH, one of Boomerang Ventures’ portfolio companies. We were super impressed with GEOH’s IT platform, and there was an opportunity for David and me to invest in GEOH, join the leadership team, and help raise a seed round. I stepped in as CEO, and David as CXO in October 2022.
Q: What problem is GEOH solving in the home care market?
A: Running a home care agency is really hard. Historically, the home care market consisted of former caregivers who run home care agencies with little to no business or clinical backgrounds. It was typically a “low-tech, no-tech” paper-based industry. Medicaid paid about $125B annually for home care with little oversight. It was estimated that $29B of that was fraudulent. So, the Feds stepped in and demanded that home care agencies provide sophisticated electronic verification for every single visit, or they would no longer get paid. GEOH provides electronic visit verification (EVV) software along with an easy-to-use suite of practice management features and services to help them manage their agencies.
With GEOH, our solution is extremely user-friendly and comprehensive. It enables agency owners to run their home health care agencies better—from compliance to growing their business.
Q: With GEOH being a young company and you leading as CEO, what are some significant challenges you’ve overcome?
A: Two challenges come to mind. First, in this business climate, it was initially challenging to identify and retain good developers and be able to manage them effectively. Developer opportunities are highly competitive, so we have partnered with a third-party company that sources top talent and manages developers and contract development, which has been an excellent move for us.
Second, our industry space is extremely crowded, and another player seems to pop up every day. Everyone’s product has its similarities, but what has helped us overcome the noise is providing exceptional customer support and content marketing strategy. We provide helpful content and training for our customers that allows them to run their businesses better. We may not be able to outspend our competition, but we can definitely out-teach them, and it has been very effective for us.
Q: What milestones has GEOH achieved since partnering with Boomerang, and how has Boomerang’s seed investment and relationship helped GEOH?
A: Boomerang’s partnership has been so supportive and collaborative. During the seed raise, the Boomerang team was incredibly resourceful beyond their investment, helping bring other investors to the table, providing introductions to their network of industry experts, and referrals to help build out our team from a development and sales standpoint.
Regarding GEOH milestones, David and I have grown revenue 5x from where we started, and we just crossed the $1.5M in ARR (annual recurring revenue) in October 2023. Over the last year, we’ve more than doubled our growth. We’ve also implemented processes and systems that will enable us to grow.
Q: What innovative features or functionality has GEOH leveraged to stay ahead of the curve?
A: We recently implemented an AI-enabled solution called SMART Bill that automatically detects and fixes any problems you might have with a claim before submitting that claim. This feature reduces human error and labor while ensuring error-free claims are submitted, avoiding claims denial issues.
We also developed a SMART Worklist feature, which allows the people running the agencies to see real-time activity among their caregivers and helps them proactively resolve any issues like patient visit tracking.
In response to GEOH users inquiring about help with their billing, we created a comprehensive tech-enabled billing services component. Building out the billing services has been great from a revenue perspective, and in October 2023, this service offering surpassed our SaaS revenue. Routinely gaining customer insight to improve our technology and offerings is always at the forefront of our daily business.
On the patient side, we’re working on a family portal that will enable families to keep track of caregiver visits and activity within their homes or their loved ones’ homes where the care is taking place. This portal offers transparency and peace of mind.
Q: What changes or trends do you see on the horizon for the home care industry?
A: One of the biggest areas of opportunity centers on social determinants of health and health equity that the federal government is passing down. For example, it looks like Managed Care Organizations (MCOs) will be responsible for doing home assessments focused on three primary parameters: the layout/setup of the home, food supply, and transportation. We must address how GEOH can facilitate supporting these parameters for our customers.
Other opportunities we’re strategizing about are 1) determining how we can help connect case managers with agencies that are a good fit and 2) making it easier for caregivers to operate across multiple agencies, essentially creating a pre-qualified pool of caregivers that agencies can effectively use to recruit.
Q: Looking ahead to 2024, what are some top-line goals for GEOH?
A: In 2024, we aim to be over $3M in ARR, and we’re targeting the middle to end of 2024 to do our series A round. Our outlook is solid.
Learn more about GEOH, visit https://geoh.app/.