Arevo Health, a cloud-based software startup here originally formed to help employers track health care benefits, has dropped the second half of its name to reflect the broader applications it foresees for its proprietary software.
The company now is operating simply as Arevo, says CEO Ryan Fix.
Early adopters of Arevo’s Pulse software have expressed interest in expanding the application beyond health care, Fix says.
The software enables companies to manage investments in their human capital, bringing data together from all employee benefit areas, human resources, payroll, and key performance indicators.
“We had a handful of clients wanting to mash the data against the total employee (expense),” Fix says. “Now, they are measuring the complete picture.”
Arevo’s clients include Spokane-based Inland Imaging LLC, one of the largest providers of radiology services in Washington state, with more than 675 full-time equivalent employees.
Steve Duvoisin, Inland Imaging CEO, says the Arevo system already has identified areas for cost savings that will more than pay for the service.
“We try to monitor all areas of our business to keep costs down for our patients and for our employees who will share in the savings,” Duvoisin says in a press release about Inland Imaging’s selection of the Arevo technology.
Arevo, which has been working with beta clients to fine-tune its Pulse software, expects to launch a complete live system this spring, Fix says.
“We’re making progress,” he says.
Arevo’s revenue will come from per-employee monthly fees to be charged to clients, Fix says.
He claims Arevo’s software can be applied at companies based anywhere in the U.S. with 100 to 100,000 workers.
“We’re focusing on working with organizations with a couple of hundred employees to a couple of thousand,” he says.
Fix, who has been involved in health care and technology companies for 15 years, says the Arevo Health name will continue to refer to a specific product offering for customers that seek only that application of the software.
Fix co-founded the company last year with fellow entrepreneur Jim Schlosser, who is Arevo’s chief operating officer. Arevo is based in the Ben Burr Building, at 5915 S. Regal, on the South Hill, where it occupies 1,500 square feet of office space. The company has seven employees, including the founders.