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Phreesia reports developments tied to its patient activation platform for healthcare providers, life sciences companies and other organizations. The company’s recurring news includes quarterly results, stakeholder letters, patient intake, outreach, education and appointment-scheduling solutions, and the scale of patient visits enabled through its digital workflows.
Company updates also cover healthcare payment capabilities, including the completed AccessOne acquisition, credit-facility refinancing, and corporate governance or workplace recognition items. Phreesia’s news flow is centered on software, payments and engagement tools used across healthcare delivery and patient interactions.
Phreesia, Inc. (NYSE: PHR) reported a strong fiscal third quarter ended October 31, 2021, with revenue reaching $55.9 million, a 45% increase year-over-year. The average number of provider clients grew by 21% to 2,097, with average revenue per client increasing by 10% to $19,299. Despite these positive metrics, the adjusted EBITDA was negative $17.6 million, reflecting increased investment. The company raised its revenue outlook for FY 2022 to $211 million and expects further growth of 20-25% in FY 2023.
Phreesia (NYSE: PHR) will host a conference call on December 9, 2021, at 8:45 a.m. ET to discuss its fiscal third quarter 2022 financial results. The financial results will be announced following market close on December 8, 2021. Phreesia provides healthcare organizations with a comprehensive suite of applications designed to improve the patient intake process, enhancing patient engagement and operational efficiency.
Phreesia has announced that General Counsel Allison Hoffman has been recognized in The Software Report’s list of the Top 50 Women Leaders in SaaS of 2021. This marks the fourth consecutive year that a Phreesia leader has achieved this honor. Hoffman, with over 25 years of legal expertise, joined Phreesia in 2020, overseeing the Legal, Compliance, Risk, Privacy, and Security teams. Her role also includes sponsoring the Phreesia Women’s Network. The Software Report emphasized the impact of women in executive positions in driving organizational success during the COVID-19 era.
Seminal Capital Holdings announces key appointments to its Seminal Healthcare team, including Victor Kats, Mark Miller, and Lindsey Watson. These professionals bring extensive experience in healthcare technology and investment. Kats, with over 25 years in the industry, previously led the Healthcare Technology Practice at Ascension Ventures. Miller and Watson also come with a wealth of expertise from notable firms. Seminal Healthcare aims to enhance its impact investing focus and provide strategic support to healthcare companies.
MercyOne and Phreesia have launched an initiative to enhance patient care by streamlining the assessment of social needs affecting health. By utilizing Phreesia's electronic screening solutions, MercyOne has conducted over 35,000 screenings, identifying that 18% of patients had unmet social needs. This innovative approach aims to improve patient communication, privacy, and connection to essential resources. The partnership reflects a commitment to health equity and personalized care, enhancing the overall well-being of communities served.
Phreesia, traded under the ticker PHR, has successfully renewed its HITRUST CSF Certification, reinforcing its commitment to information security. This status confirms that its patient intake platform meets essential regulations and effectively manages risk.
Wes Shriner, Phreesia’s Senior Director of Information Security, emphasized the company’s focus on safeguarding sensitive health and financial data. The HITRUST certification positions Phreesia among a select group of organizations globally recognized for high standards in information risk management.
Phreesia, Inc. (NYSE: PHR) reported a revenue of $51 million for Q2 FY 2022, marking a significant 46% increase from the same quarter last year. The average number of provider clients rose by 19% to 1,987, and average revenue per client increased by 14% to $19,720. However, the company recorded a negative adjusted EBITDA of $11 million, a decline from a positive $1.2 million in Q2 FY 2021. Phreesia has raised its fiscal 2022 revenue outlook to $195-$198 million, up from $191-$194 million, but anticipates increased cash outflow due to ongoing hiring and infrastructure investments.
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Phreesia, Inc. (NYSE: PHR) is set to hold a conference call on September 2, 2021, at 8:30 a.m. ET to discuss its fiscal Q2 2022 financial results. A press release detailing these results will be available after the market close on September 1, 2021. The conference call can be accessed by calling (866) 211-4557 or (647) 689-6750 internationally, using conference code 7489917. Phreesia’s platform aids healthcare organizations in streamlining the patient intake process, improving both patient engagement and clinical efficiency.
Phreesia has partnered with the developers of the SEEK model to provide pediatric primary care providers with a screening tool for adverse childhood experiences (ACEs) and negative social determinants of health (SDOH). This automated questionnaire enhances pediatricians' ability to deliver comprehensive care and address family issues such as parental depression and substance use. Studies show that implementing SEEK leads to significantly lower child maltreatment incidents. The SEEK tool will improve pediatric practices by allowing private completion via mobile devices before visits, enabling informed discussions during appointments.