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, in collaboration with the National Kidney Foundation, has published new research in The American Journal of Accountable Care, highlighting the importance of patient-provider discussions and patient activation for the early diagnosis and treatment of chronic kidney disease (CKD). The study surveyed 4,445 patients with diabetes and/or hypertension and revealed that two-thirds of these high-risk patients were unaware of their risk for CKD. Key findings showed that 70% of highly activated diabetic patients discussed kidney health with their provider, compared to 38% of low-activation patients. Similarly, 51% of highly activated hypertensive patients had these discussions compared to just 7% of their low-activation counterparts. The research emphasizes that patient activation and frequent patient-provider conversations are vital in encouraging preventive health behaviors. Phreesia's ability to deliver personalized messages at the point of care aims to improve patient awareness and engagement, potentially leading to better health outcomes.
Phreesia (NYSE: PHR) reported its financial results for the fiscal first quarter ending April 30, 2024. The company achieved total revenue of $101.2 million, marking a 21% increase year-over-year. The average number of healthcare services clients (AHSCs) grew by 23% year-over-year to 4,065.
Healthcare services revenue per AHSC declined by 3% to $18,243, and total revenue per AHSC fell by 2% to $24,900. Net loss narrowed to $19.7 million from $37.5 million in the same period last year. Adjusted EBITDA turned positive at $4.1 million compared to a negative $13.8 million.
Cash and cash equivalents stood at $79.5 million, a decrease of $8 million from January 31, 2024. The company revised its fiscal year 2025 revenue outlook to $416-$426 million, down from the previous $424-$434 million, due to the wind-down of a clearinghouse client relationship.
However, Phreesia raised its Adjusted EBITDA guidance to $21-$26 million from $12-$20 million, citing better margin improvements and a focus on profitability.
Phreesia, a leader in patient intake and activation, has joined the MEDITECH Alliance Program as an Innovator Partner. This partnership allows MEDITECH customers to utilize Phreesia's patient-driven registration solutions in both hospital and ambulatory care settings. Phreesia will provide embedded solutions within MEDITECH as a Service (MaaS) and deliver integrated solutions for all Expanse customers. This collaboration began with Phreesia's acquisition of Access eForms in 2023. The partnership aims to enhance patient engagement, streamline operations, and improve financial health for healthcare systems. Phreesia's automated workflows are designed to reduce staffing burdens and boost efficiency.
Phreesia announced that Amy Patel, its Director of Analytics, has been named one of PM360's 2024 ELITE 100. These awards recognize influential individuals in healthcare and life sciences.
Patel has over 15 years of experience in healthcare data, analytics, and market research. She leads Phreesia's Analytics and Insights (AI) and Business Intelligence teams, ensuring effective audience targeting and campaign performance. Her efforts assist clients in delivering relevant health content to millions of patients monthly.
In her role, Patel collaborates with the Product and Data Integration teams to continuously enhance Phreesia's content delivery, focusing on privacy and patient engagement. Phreesia's Senior VP, David Linetsky, acknowledged the significance of Patel's contributions to the company's mission of improving patient care and health outcomes.
Phreesia, a leader in patient intake, outreach, and activation, has been named one of Modern Healthcare’s 2024 Best Places to Work in Healthcare.
This marks the eighth time Phreesia has received this recognition. The award highlights 150 U.S. healthcare companies known for empowering employees to provide high-quality care and services.
Phreesia's SVP of Human Resources, Amy VanDuyn, emphasized the importance of the company's culture and employee engagement. The award is determined based on employee surveys evaluating areas such as culture, leadership, benefits, and job satisfaction.
Dan Peres, President of Modern Healthcare, noted that in the face of economic challenges and evolving work environments, the winners understand the importance of meeting employee needs to ensure business success.
Founded in 2005, Phreesia facilitated 150 million patient visits in 2023, providing digital solutions to enhance patient experience and healthcare outcomes.
Phreesia's Alicia Cowley and Natasha Vega have been named to MM+M's 'Women to Watch' for 2024, highlighting their significant impact on the healthcare marketing industry. Cowley, as Director of Clinical Content, and Vega, as Senior Client Experience Manager, were recognized for their leadership and contributions to Phreesia's vision of empowering patients in their healthcare journey.
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