NikoHealth finds its groove

MIDDLETOWN, N.J. – NikoHealth has come through the other side of the pandemic, growing its new book of business 400% so far in 2023 compared to last year, says Wayne Hudson. 

“We’ve had exponential growth,” said Hudson, director of sales for the cloud-based HME business software company. “We’ve been signing up bigger and bigger customers, including the largest rural health care system in the country and some of the publicly traded HME companies.” 

The HME software landscape consolidated significantly prior to NikoHealth entering the scene, with ResMed buying Brightree in 2016, setting off a number of acquisitions, including MatrixCare; and WellSky (at the time Mediware) buying Definitive Homecare Solutions and Fastrack around the same time period. 

Prior to NikoHealth’s launch in 2018, co-founders Michael Kutsak and Bryan Breslov sold their sleep and respiratory based company to a national and began re-envisioning a legacy system they built and used there. The software was in development for three years and was beta-tested in the fourth year by 10 HME companies. 

“The large bulk of our business is from inbound opportunities, as more and more providers are looking for change and up-to-date alternative solutions,” Hudson said. 

While it has well-established competitors in the market, NikoHealth believes it’s carving a niche for itself with its modern and user-friendly interface and its “all-in-one" approach to software, Hudson says. 

“Everything you need to run your business comes right out of the box,” he said. “After a client signs up with us, I tell them, ‘I have nothing else to sell you.’” 

NikoHealth also offers APIs that allow its clients to, among other things, incorporate online ordering into their websites; and provides integrations with other systems, like Allegiance Group’s patient pay billing and collection software, Hudson says. 

“There are a lot of moving parts in an HME company and the more we can do to refine things and really strip back some of the complexities – it makes a difference,” he said. 

While HME provider companies have also seen significant consolidation in recent years, NikoHealth is bullish, especially with new product categories like continuous glucose monitors and new entrants into the market. 

“We’re optimistic,” he said. “We really noticed at Medtrade in March that there’s a different feeling in the air.”