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Phreesia, Inc. (symbol: PHR) is a leading provider of comprehensive software solutions designed to enhance the operational and financial performance of healthcare organizations. Through its innovative SaaS-based technology platform, Phreesia enables medical groups of all sizes to streamline their administrative, financial, and clinical operations, thereby allowing healthcare staff to focus more on delivering exceptional patient care.
The Phreesia Platform offers a robust suite of integrated solutions that manage various aspects of patient interactions. These solutions include patient access, registration, payments, and clinical support, all aimed at optimizing patient health outcomes. By activating patients in their care, Phreesia ensures that healthcare providers can offer more personalized and efficient services.
Phreesia's flexible and scalable platform is trusted by leading healthcare organizations to revolutionize their point of service. The platform encompasses a wide range of technologies and services, from initial patient contact and registration to appointment scheduling, payment processing, and post-appointment patient surveys. This comprehensive range of services drives tangible results, enhancing both patient and provider experiences.
Recent achievements and current projects at Phreesia include continuous updates to their software to ensure compatibility with the latest technological advancements and regulatory requirements. The company also focuses on forming strategic partnerships that further enhance the capabilities of their platform.
In terms of financial condition, Phreesia has shown consistent growth, driven by the increasing demand for efficient healthcare management solutions. The company's ability to adapt to the evolving needs of the healthcare industry makes it a significant player in the market.
Phreesia (NYSE: PHR) reported its Q3 FY2025 financial results with total revenue of $106.8 million, up 17% year-over-year. The company's average healthcare services clients (AHSCs) increased 15% to 4,237. Net loss improved to $14.4 million from $31.9 million in the prior year, while Adjusted EBITDA turned positive at $9.8 million compared to negative $6.6 million.
The company narrowed its FY2025 revenue guidance to $418-420 million (17-18% growth) and raised Adjusted EBITDA outlook to $34-36 million. For FY2026, Phreesia projects revenue of $472-482 million and Adjusted EBITDA of $78-88 million, with AHSCs expected to reach approximately 4,500.
Phreesia has been named one of the 'Top 100 Software Companies of 2024' by The Software Report for the third consecutive year, ranking 11th on the list, up four positions from 2023. The selection criteria included product functionality, customer satisfaction, corporate reputation, innovative capabilities, organizational depth, ESG involvement, and long-term viability.
As a leader in patient intake, outreach and activation, Phreesia facilitated approximately 150 million patient visits in 2023, representing more than 1 in 10 healthcare visits across the U.S. The company provides patient-driven digital solutions for intake, outreach, and education to enhance patient experience and improve healthcare outcomes.
Phreesia (NYSE: PHR) has announced it will release its fiscal third quarter 2025 financial results after market close on Monday, December 9, 2024. The company will host a conference call at 5PM Eastern Time on the same day to discuss the results. Founded in 2005, Phreesia is a patient activation platform that facilitated approximately 150 million patient visits in 2023, representing more than 1 in 10 healthcare visits across the U.S. The company provides digital solutions for patient intake, outreach, and education to enhance patient experience and healthcare outcomes.
Phreesia has achieved Oracle Validated Integration with Oracle Health Electronic Health Record (EHR) Expertise for its patient intake platform integration. The validation confirms the integration's functionality and performance, enabling healthcare organizations to enhance patient experience and operational efficiency. Phreesia's research shows that Oracle customers using their platform have experienced significant improvements, including a 25% increase in payment collections, 77% copay collection at time of service, and staff saving over five minutes per visit with 87% of patients using self-check-in.
Phreesia, a leader in patient activation, has joined the Network Advertising Initiative (NAI), a non-profit organization dedicated to responsible data collection and use in digital advertising. This move demonstrates Phreesia's commitment to consumer data privacy and industry-leading privacy practices.
As an NAI member, Phreesia will:
- Promote consumer-centric privacy practices in healthcare
- Take a leadership role in shaping the national conversation around data privacy
- Advocate for national policies that allow beneficial use of healthcare data while preserving consumer privacy
Phreesia's platform focuses on personalized health content built on principles of privacy and consent. The company's research shows that consumers value receiving relevant health information, with over 80% of surveyed individuals appreciating personalized content about medications or therapies related to their health conditions.
Phreesia, a leader in patient intake, has partnered with the Ad Council to deliver three mental health awareness campaigns to patients and caregivers. The campaigns have reached over 430,000 individuals, focusing on youth, adult, and adolescent mental health. Key findings show that most viewers plan to discuss mental health with doctors, family, or friends, and over half are likely to seek additional information.
The campaigns include:
- 'Seize the Awkward': Targeting young adults 18-24, delivering 255,000 messages
- 'Sound It Out': Aimed at parents of middle schoolers and teens, with 60,000 messages
- 'Love, Your Mind': Focused on Black and Hispanic men, delivering 117,000 messages
Results indicate high engagement, with many recipients requesting resources and expressing intentions to discuss mental health with healthcare providers or loved ones. The partnership aims to normalize mental health discussions and provide tools for important conversations.
Phreesia, a leader in patient intake and activation, has renewed its contract with the CMS Innovation Center (CMMI) for the use of the Patient Activation Measure® (PAM) through 2029. The PAM assesses patients' knowledge, skills, and confidence in managing their healthcare. This renewal follows the success of the Kidney Care Choices (KCC) Model, which aims to improve care for Medicare beneficiaries with chronic kidney disease.
The first annual evaluation of the KCC model revealed significant improvements, including:
- An average 8.8-point increase in PAM scores
- A 20% increase in home dialysis
- A 16% increase in optimal ESRD starts
- A 15% increase in patients on the transplant waitlist
These results demonstrate the effectiveness of patient activation in improving healthcare outcomes and reducing costs. Phreesia's continued partnership with CMMI may lead to expanded use of PAM in additional healthcare models and settings.
New research by Phreesia reveals that delivering digital vaccine-related messages to patients before medical appointments significantly increases vaccine uptake. The study, analyzing over 20.2 million digital vaccine messages across all 50 states between March 2020 and May 2024, found that patients exposed to point-of-care messages received vaccinations at a rate more than twice as high as control groups. Key findings include:
- 49% of patients said the information was new to them
- 65% were likely to discuss vaccines with their doctor
- In some cases, messaging drove vaccine administration rates more than 10X higher than the control group
The research demonstrates the effectiveness of providing timely, credible vaccine information in supporting vaccine confidence and adoption, even among historically marginalized populations and during periods of increased vaccine hesitancy.
The CDC has awarded a research grant to a joint project involving Phreesia, the National Association For Continence (NAFC), Health.Equity.Outcomes., and Dr. Christina Escobar to address the public health challenge of urinary incontinence (UI) in women. The project aims to raise awareness and empower women to seek treatment for UI, which affects nearly 100 million women in the U.S. but remains underdiagnosed and undertreated.
The initiative will leverage Phreesia's digital patient engagement platform to deploy a campaign encouraging women to discuss UI with their healthcare providers. The project will also focus on creating an indicator report on UI prevalence, developing survey questions, and publishing educational content on screening, prevention, and treatment options.
Phreesia (NYSE: PHR) reported strong financial results for Q2 fiscal 2025, ending July 31, 2024. Highlights include:
- Total revenue of $102.1 million, up 19% year-over-year
- Average healthcare services clients (AHSCs) of 4,169, up 21% year-over-year
- Net loss of $18.0 million, improved from $36.8 million loss in prior year
- Adjusted EBITDA of $6.5 million, up from negative $11.5 million
- Positive free cash flow of $3.7 million
The company maintained its fiscal 2025 revenue outlook of $416-426 million and raised Adjusted EBITDA guidance to $26-31 million. Phreesia expects continued growth in AHSCs and revenue per AHSC through fiscal 2026.
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