WELL Provides Preliminary Patient Visits for Q4-2022 Reflecting Strong Organic Growth and Record Results
WELL Health Technologies Corp. (OTCQX: WHTCF) reported a significant increase in omni-channel patient visits for Q4-2022, achieving 991,268 visits, up 42% YoY and 11% QoQ. For the full year, total patient interactions reached approximately 4.9 million, marking an 86% increase from 2021. The company's growth was primarily driven by organic means, with omni-channel patient visits up 50% compared to the previous year. WELL's performance positions it as a leader in the Canadian healthcare market, emphasizing its commitment to enhancing patient outcomes through innovative technology and support for healthcare practitioners.
- 991,268 omni-channel patient visits in Q4-2022, a 42% YoY increase.
- Total patient interactions of approximately 4.9 million in 2022, an 86% increase from 2021.
- 50% growth in omni-channel patient visits in 2022 compared to the prior year.
- Strong organic growth contributing to record performance.
- None.
- WELL's Omni-channel patient visits1 and interactions metrics are an important leading indicator to demonstrate the health of WELL's operational and financial performance.
- The Company expects to announce another record performance for total omni-channel patient visits1 in Q4-2022 reflecting approximately a YoY increase of
42% and a QoQ growth of11% . WELL's growth was primarily driven by organic growth. - The Company also achieved ~4.9 million patient interactions for the full year 2022, an increase of
86% as compared to 2021.
VANCOUVER, BC, Feb. 23, 2023 /PRNewswire/ - WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) ("WELL" or the "Company"), a digital health company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to provide a preview of the volume of its patient visit and interactions in Q4-2022.
WELL achieved a total of 991,268 omni-channel patient visits1 in Q4-2022, representing a year-over-year increase of
For the full year, WELL achieved a total of approximately 3.5 million omni-channel patient visits1 and 4.9 million patient interactions in 2022. Omni-channel patient visits1 grew
Q4-2022 | Q4-2021 | 2022 | 2021 | |
Omni-Channel | 991,268 | 700,359 | 3,484,374 | 2,316,512 |
Patient Interactions | 1,357,655 | 972,740 | 4,877,642 | 2,615,996 |
Hamed Shahbazi, Chairman and CEO of WELL commented, "I'm very proud of our care provider team as well as the technology and provider support teams for the strong growth in patient care this past quarter reflecting strong organic growth and yet another record performance. Not only did we continue to grow but we were able to maintain industry leading NPS scores. To our knowledge, these metrics position WELL as the Canadian market leader in delivering omni-channel patient visits1. This growth is just the beginning for WELL. We are confident that with our focus on quality, innovation, and patient-centered care, we will continue to see strong growth in patient numbers and further establish ourselves as a leading healthcare provider."
Footnotes: | |
1. | Omni-channel patient visits1 is defined by all patient visits generated by all sources and channels. This includes any patient visits delivered by a WELL healthcare practitioner (inclusive of in-person or virtual) or a non-WELL practitioner but facilitated by WELL's virtual care tools. This figure does not include visits for diagnostic testing consultations or any asynchronous physician consultations. |
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
WELL is a practitioner focused digital healthcare company whose overarching objective is to positively impact health outcomes to empower and support healthcare practitioners and their patients. WELL has built an innovative practitioner enablement platform that includes comprehensive end to end practice management tools inclusive of virtual care and digital patient engagement capabilities as well as Electronic Medical Records (EMR), Revenue Cycle Management (RCM) and data protection services. WELL uses this platform to power healthcare practitioners both inside and outside of WELL's own omni-channel patient services offerings. As such, WELL owns and operates Canada's largest network of outpatient medical clinics serving primary and specialized healthcare services and is the provider of a leading multi-national, multi-disciplinary telehealth offering. WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL" and on OTCQX under the symbol "WHTCF". To learn more about the Company, please visit: www.well.company.
This news release may contain "Forward-Looking Information" within the meaning of applicable Canadian securities laws, including without limitation WELL's expectations to report strong financial results. Forward-Looking Information is based upon several estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-Looking Information generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking Information involves known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by such Forward Looking Information and, which are not guarantees of future performance. WELL's statements expressed or implied by Forward Looking Information are subject to several risks, uncertainties, and conditions, many of which are outside of WELL 's control, and undue reliance should not be placed on such statements. Forward-Looking Information is qualified in their entirety by inherent risks and uncertainties, including: direct and indirect material adverse effects from the COVID-19 pandemic; adverse market conditions; risks inherent in the primary healthcare sector in general; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions; that market competition may affect the business, results and financial condition of WELL and other risk factors identified in documents filed by WELL under its profile at www.sedar.com, including its most recent Annual Information Form. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.
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SOURCE WELL Health Technologies Corp.
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