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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 has collaborated with the Ad Council on three public health campaigns aimed at raising awareness among patients and caregivers regarding critical health issues. Since mid-2022, these campaigns have reached over half a million individuals, prompting significant engagement on topics such as pediatric COVID-19 vaccine safety, the risks of vaping, and high blood pressure control. The campaigns have demonstrated positive results, with increased likelihood of patients seeking information and discussing these health issues with their healthcare providers. The COVID-19 education initiative alone reached over 203,000 caregivers, with substantial interest in vaccination information.
Phreesia has been recognized for the second consecutive year by Medical Marketing and Media as one of the ‘Best Places to Work 2022’ in the healthcare marketing industry. The company, listed in the ‘Healthcare Service Providers’ category, is one of only three recognized. Phreesia’s inclusive culture, employee benefits, and professional growth opportunities were highlighted. Phreesia emphasizes hiring innovative employees and focuses on improving patient health outcomes. The company introduced several initiatives this year, including an employee recognition plan and a mentorship program, aimed at enhancing employee engagement and well-being.
Phreesia, Inc. (NYSE: PHR) reported Q3 2023 revenue of $73.1 million, a 31% increase from $55.9 million in Q3 2022. Average healthcare services clients rose by 42% to 2,982, but average revenue per client decreased by 9% to $17,645. The net loss widened to $40.2 million compared to $36.3 million a year earlier. Phreesia updated its FY 2023 revenue forecast to at least $278 million, reflecting 30% growth. Adjusted EBITDA outlook improved to negative $95 million. The company aims for $500 million in revenue by FY 2025 and anticipates achieving profitability in that year.
Phreesia has announced that Sara DiNardo, Vice President of Client Solutions, has been recognized as one of the Top 50 Women Leaders in SaaS of 2022 by The Software Report. This marks the fifth consecutive year a female leader from Phreesia has received such recognition, highlighting the company’s commitment to fostering leadership in the software industry. DiNardo oversees client services and success teams, aiming to enhance the patient experience within the healthcare technology sector.
Phreesia (NYSE: PHR) will release its fiscal Q3 2023 financial results on December 8, 2022, after market close. A press release will be available on ir.phreesia.com, along with a quarterly stakeholder letter. A conference call is scheduled for 5:00 PM ET on the same day to discuss the results. Phreesia provides a SaaS platform for healthcare organizations, improving patient intake and enhancing clinical care.
Phreesia has appointed Alexandra Beneville as Vice President of Life Sciences Content Strategy, effective August 1, 2022. Beneville joins from Phosphorus, where she was Vice President of Marketing. With over 20 years of experience in marketing and brand management within the healthcare sector, she aims to enhance digital patient engagement at Phreesia. Beneville's previous roles include leadership positions at Wunderman and Eli Lilly. Phreesia's Life Sciences division focuses on connecting with patients through targeted health content and insights.
Phreesia announced that Zeeshan Butt, PhD, has been appointed to the National Quality Forum’s Measure Applications Partnership (MAP) Clinician Workgroup for a three-year term. This group influences performance measures for federal public reporting and payment programs. Dr. Butt is a licensed clinical health psychologist specializing in patient-reported outcomes. Phreesia supports over 100 million patient visits annually, offering tools that enhance health outcomes and efficiency in healthcare settings. Its Patient Activation Measure® is recognized for improving clinical results and reducing costs.
Phreesia, Inc. (NYSE: PHR) reported fiscal Q2 2023 results, achieving revenue of $67.9 million, a 33% increase year-over-year, with a total of 2,776 healthcare clients. However, the average revenue per client dipped 7% to $18,248, attributed to faster client growth outpacing revenue gains. Adjusted EBITDA was negative $26 million, worsening from negative $11 million a year ago. The company raised its 2023 revenue outlook to $273-$275 million, indicating 28%-29% growth, and adjusted EBITDA guidance improved but remains negative. Cash equivalents dropped to $240.7 million.
Phreesia, Inc. (NYSE: PHR) will announce its fiscal Q2 2023 financial results after market close on September 7, 2022. A press release detailing the results, accompanied by a quarterly stakeholder letter, will be made available on the company's investor website. Following this, a conference call will commence at 5:00 PM ET to discuss the financial outcomes. Phreesia focuses on enhancing patient intake processes in healthcare through its innovative SaaS platform, promoting patient engagement and operational efficiency.
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