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About American Well Corporation (Amwell)
American Well Corporation (NYSE: AMWL), widely known as Amwell, is a leading hybrid care enablement platform revolutionizing the healthcare industry by integrating technology to deliver accessible, affordable, and high-quality care. Headquartered in Boston, Amwell operates at the intersection of healthcare and technology, empowering providers, payers, patients, and innovators to seamlessly deliver care across the entire healthcare continuum. The company's platform supports diverse healthcare needs, including urgent care, chronic care management, behavioral health, post-acute care, and healthy living initiatives.
Core Offerings and Business Model
Amwell provides a single, comprehensive platform that combines virtual and in-person care to create a unified healthcare experience. Its offerings include on-demand and scheduled consultations, virtual primary care, musculoskeletal care, dermatology, and chronic disease management. The platform integrates third-party digital health solutions, such as Hello Heart for cardiovascular health and Vida Health for cardiometabolic care, enabling health systems and insurers to offer tailored, cost-effective, and outcome-driven programs to their members.
The company generates revenue through partnerships with over 50 health plans, representing more than 100 million covered lives, and collaborates with leading health systems comprising thousands of hospitals. Its SaaS-based model ensures scalability and adaptability, catering to the evolving needs of healthcare organizations. Amwell's robust ecosystem also includes its affiliated clinical partner, Amwell Medical Group, which delivers behavioral health and therapy services.
Industry Context and Market Position
Operating in the rapidly growing telehealth and digital health industry, Amwell is strategically positioned to address the global shift towards hybrid care delivery. With nearly two decades of experience, the company has established itself as a trusted partner for some of the largest and most sophisticated healthcare organizations worldwide. Its proprietary platform, Amwell Converge™, integrates advanced technologies to enhance care coordination, data exchange, and patient engagement, ensuring efficient and personalized healthcare delivery.
Amwell differentiates itself from competitors like Teladoc Health through its focus on a unified, interoperable platform that supports a wide range of clinical programs. By fostering partnerships with innovative digital health providers, Amwell continuously expands its portfolio, addressing critical health challenges such as obesity, diabetes, and cardiovascular diseases. This collaborative approach positions the company as a key enabler of value-based care models.
Challenges and Strategic Focus
As a pioneer in digital healthcare, Amwell faces challenges such as ensuring data security, navigating regulatory complexities, and driving adoption across diverse patient populations. The company addresses these challenges by investing in robust cybersecurity measures, aligning with industry standards, and leveraging its extensive network of partners to enhance accessibility and affordability.
Amwell's strategic focus on hybrid care delivery underscores its commitment to transforming healthcare. By integrating virtual and in-person services, the company aims to bridge care gaps, improve clinical outcomes, and reduce costs for patients and healthcare organizations alike. This approach aligns with industry trends emphasizing whole-person care and personalized health solutions.
Conclusion
American Well Corporation is at the forefront of digital healthcare innovation, enabling its clients to deliver seamless, patient-centric care. With its comprehensive platform, strategic partnerships, and commitment to hybrid care, Amwell is well-positioned to shape the future of healthcare delivery. Its emphasis on scalability, interoperability, and clinical excellence ensures it remains a valuable partner for health systems, insurers, and employers seeking to navigate the evolving healthcare landscape.
Amwell (NYSE: AMWL) will report its first-quarter 2023 operating results on May 3, 2023, at 5 p.m. Eastern time. Following the earnings release, the management team will host a live conference call to discuss results and provide updates.
Investors can access the live audio webcast on the Amwell Investors website or dial in at (888) 510-2008 for U.S. listeners and (646) 960-0306 internationally. The conference ID is 7830032, with a replay available for 90 days post-call.
Amwell is a leader in digital healthcare, with a platform used by over 2,000 hospitals and covering over 80 million lives. The company aims to enhance healthcare access and quality through digital solutions, supporting various care types.
DarioHealth Corp. (Nasdaq: DRIO) has entered into a strategic partnership with Amwell (NYSE: AMWL), integrating Dario's cardiometabolic solutions into Amwell's digital care delivery platform, which covers over 90 million lives. This collaboration aims to enhance the care experience for individuals with conditions such as diabetes and hypertension by providing access to Dario's personalized digital health solutions. The Dario cardiometabolic suite will be available to Amwell customers in the second half of 2023, promoting a seamless member journey and supporting better health management.
Amwell (NYSE: AMWL) has announced the launch of its new cardiometabolic program, enhancing its ecosystem of digital health solutions to better serve members with chronic diseases like diabetes and high blood pressure. This initiative, in partnership with DarioHealth (Nasdaq: DRIO), integrates Dario's personalized digital therapeutic solutions into the Amwell platform, facilitating seamless referrals for clinicians. The program aims to improve health outcomes by ensuring continuous care and engagement for over one-third of Americans living with metabolic conditions. Through connected devices and coaching, members experience a holistic approach to managing their health.
Amwell (NYSE: AMWL) reported its Q4 and full-year 2022 financial results, revealing a total revenue of $79.2 million for Q4, up 9% year-over-year. Subscription revenue reached $30.7 million, and AMG Visit revenue was $35.1 million, contributing to a gross margin of 42.4%. Although the net loss narrowed to $61.6 million from the previous quarter's $70.6 million, adjusted EBITDA remained negative at ($43.4) million. Active providers surged 11% to approximately 107,000, with total visits increasing to 1.7 million, up 10%. The company projects revenue between $275 and $285 million for 2023, reflecting ongoing growth.
Amwell (NYSE: AMWL), a leader in digital healthcare, announces CFO Robert Shepardson will participate in a fireside chat at the Cowen 43rd Annual Healthcare Conference on March 7, 2023, at 9:10 AM ET. A follow-up audio webcast will be available afterward on their investor relations page. Amwell aims to enhance digital care delivery, connecting providers, insurers, patients, and innovators to improve access to quality care. The company supports over 2,000 hospitals and 55 health plan partners, covering over 80 million lives with its comprehensive digital health solutions.
Amwell (NYSE: AMWL), a digital healthcare leader, announced it will report its fourth quarter operating results for the period ending December 31, 2022, on February 22, 2023, at 5:00 p.m. Eastern Time. Following the earnings release, the management team will host a live conference call and webcast to discuss results and provide business updates. Access to the webcast will be available on the company's investor relations website. Amwell connects healthcare providers, insurers, and patients, serving over 80 million lives through its digital care platform.
Amwell® (NYSE: AMWL) announced its third-quarter financial results for 2022, reporting a total revenue of $69.2 million, an 11% increase from $62.2 million in Q3 2021. Subscription revenue grew by 19% to $31.9 million, while AMG Visit revenue was $28.8 million. Gross margin stood at 40%. The net loss was ($70.6 million), slightly higher than the ($69.7 million) loss in Q2 2022. Active providers increased by 23% to 98,500. The company expects to meet its annual revenue guidance of $275 to $285 million and has refined its Adjusted EBITDA outlook to between ($180) million and ($190) million.
Amwell (NYSE: AMWL) announced the appointment of Robert Webb to its Board of Directors, effective immediately. With over 30 years of experience in healthcare technology, Mr. Webb aims to enhance Amwell's market position and growth trajectory. His previous roles include CEO of Optum's consumer network and President of UnitedHealth Group Ventures. Amwell focuses on digital healthcare enablement, connecting various stakeholders to improve care accessibility and quality. The company supports over 2,000 hospitals and 55 health plan partners, impacting over 80 million lives.
BOSTON--(BUSINESS WIRE)--Amwell (NYSE: AMWL), a digital healthcare leader, announced key participation in upcoming investor conferences. On November 10, 2022, CEO Dr. Ido Schoenberg and CFO Bob Shepardson will attend the Credit Suisse Healthcare Conference, hosting a fireside chat at 8:30 a.m. PT. Shepardson will also engage in meetings at the Needham & Co. Virtual Health Tech One-on-One Conference on November 15 and at BTIG's Virtual Healthcare Day on November 21. They will meet investors again on November 30 at the Piper Sandler Healthcare Conference in New York City.
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