Welcome to our dedicated page for American Well news (Ticker: AMWL), a resource for investors and traders seeking the latest updates and insights on American Well stock.
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 third-quarter operating results for the period ending September 30, 2022, on November 7, 2022. Following the earnings release, management will host a live conference call at 5:00 PM ET to discuss the results and provide a business update. Investors can access the webcast on the company's website or by calling U.S. and international numbers. Amwell is a leading digital healthcare platform, enabling improved access to affordable care, serving over 2,000 hospitals and covering more than 80 million lives.
Amwell (NYSE: AMWL) announces key executive appointments, bringing a combined 40 years of experience to its leadership team. Vaughn Paunovich joins as Executive Vice President of Enterprise Platforms, focusing on technological delivery and innovation for the Converge platform. Matthew McAllister takes on the role of Chief Product Officer, overseeing product management and design. CEO Roy Schoenberg emphasized the importance of these roles amidst the digital transformation in healthcare, positioning Amwell as a partner in meeting customer needs for integrated technological solutions.
Amwell (NYSE: AMWL) has launched its inaugural Environmental, Social and Governance (ESG) Framework, emphasizing its commitment to sustainable growth. The Framework focuses on three pillars: People, promoting talent development and wellbeing; Products, enhancing digital care delivery through its Converge™ platform; and Operations, ensuring high ethical standards and robust data privacy. CEO Dr. Ido Schoenberg stated this marks a significant milestone in Amwell's ESG journey, with plans for transparency and progress updates in the future.
BOSTON--(BUSINESS WIRE)--Amwell (NYSE: AMWL), a digital care delivery leader, will have management participate in upcoming investor conferences. On September 8, 2022, Dr. Ido Schoenberg and CFO Bob Shepardson will engage in a fireside chat at the Wells Fargo Healthcare Conference at 11 a.m. ET. Subsequently, on September 13, 2022, they will attend the Morgan Stanley 20th Annual Global Healthcare Conference in New York City at 1:30 PM ET. Webcasts will be available at investors.amwell.com.
On August 8, 2022, Amwell (NYSE: AMWL) received the 2022 North America Customer Value Leadership Award from Frost & Sullivan for its Converge platform. This recognition highlights Amwell’s commitment to improving digital healthcare delivery through comprehensive technology solutions for healthcare organizations. The Converge platform aims to enhance operational efficiency, improve patient-provider interactions, and address staffing shortages. The integration of AI through partnerships, including with Google Cloud, further elevates its service offerings, ensuring flexible and effective digital care.
Amwell (NYSE: AMWL) reported its Q2 2022 financial results, achieving $64.5 million in total revenue, a 7% increase from Q2 2021. Subscription revenue rose 10% to $29.6 million, while AMG visit revenue grew 8% to $29.7 million. Gross margin was reported at 43.4%, and adjusted EBITDA improved to ($42.8) million. Active providers surged 46% to 103,500, with total visits increasing 19% to 1.5 million. Amwell expects 2022 revenue between $275 and $285 million.
Amwell (NYSE: AMWL), a leader in digital care delivery, will report its second quarter results for the period ending June 30, 2022, on Thursday, August 4, 2022. The management team will host a live conference call and webcast at 5:00 p.m. Eastern Time to discuss the results and provide updates. Investors can access the webcast on the Amwell website or listen via phone. Amwell connects providers, insurers, and patients to enhance access to affordable healthcare, serving over 2,000 hospitals and 55 health plans worldwide.
Amwell (NYSE: AMWL) has appointed Dr. Carrie Nelson as its new Chief Medical Officer, bringing over 28 years of experience in Family Medicine and population health. Dr. Nelson aims to enhance clinical and operational outcomes for provider and payer organizations through Amwell's digital care delivery platform, Converge™. Previously, she served as Senior Vice President and CMO at Advocate Aurora Health. COO Kurt Knight emphasized her clinical background will be instrumental in advancing Amwell's sales, implementation, and quality metrics within the hybrid healthcare landscape.
Amwell (NYSE: AMWL) has announced a deal to shorten the earnout period from its August 2021 acquisition of SilverCloud Health, a digital mental health company. This restructuring leads to the issuance of 4,959,856 shares of Class A common stock to SilverCloud's former stockholders. The move aims to expedite the integration of SilverCloud into Amwell’s platform, which Dr. Ido Schoenberg highlights as pivotal for enhancing cultural and operational efficiency in delivering behavioral health solutions. The partnership expects to address the significant demand in behavioral health care exacerbated by recent global events.
Amwell reported Q1 2022 revenue of $64.2 million, up from $57.6 million year-over-year. Gross margin improved to 42.8% from 38.0%. Active providers increased to ~102,000, and total visits rose to ~1.8 million. However, the net loss widened to ($70.3 million), compared to ($39.8 million) last year, while adjusted EBITDA was (47.1 million), up from (26.4 million). Amwell maintains its 2022 revenue guidance of $275 - $285 million.
FAQ
What is the current stock price of American Well (AMWL)?
What is the market cap of American Well (AMWL)?
What does American Well Corporation (Amwell) do?
How does Amwell generate revenue?
What makes Amwell different from competitors like Teladoc Health?
What are Amwell's key focus areas?
Who are Amwell's primary clients?
What challenges does Amwell face in its industry?
What is Amwell's approach to hybrid care delivery?
How does Amwell integrate third-party solutions into its platform?
What is Amwell Converge™?
What is Amwell's role in value-based care models?
