Phreesia, Inc. (PHR): history, ownership, mission, how it works & makes money

A Brief History of Phreesia, Inc. (PHR)

Founding and Early Years

Phreesia, Inc. was founded in 2005 by Chaim Indig and Evan Roberts. The company aimed to transform patient intake and engagement through technology. The initial product focused on automating the patient check-in process, significantly enhancing operational efficiency for healthcare providers.

Key Milestones

• 2006: Phreesia launches its first patient check-in solution.
• 2010: The company raises $8 million in Series A funding led by VC firms.
• 2014: Phreesia secures $30 million in Series D funding, expanding its offerings beyond check-in to include patient engagement tools.
• 2018: The company goes public, trading on the NYSE under the ticker symbol PHR.

Financial Performance

As of fiscal year 2022, Phreesia reported:

Product Innovations

Phreesia has developed several innovative products, including:

• Patient Check-In Kiosks
• Telehealth Solutions
• Patient Engagement Platform
• Payments Processing Services

Market Position and Competitors

Phreesia holds a significant share of the healthcare IT market. As of 2023, the estimated market capitalization of Phreesia is approximately $650 million. Key competitors include:

• Epic Systems Corporation
• Cerner Corporation
• Allscripts Healthcare Solutions
• NextGen Healthcare

Recent Developments

In 2023, Phreesia launched several new features aimed at improving the patient experience:

• Enhanced telehealth capabilities
• Integration with electronic health record (EHR) systems
• Advanced analytics for patient engagement

Future Outlook

Analysts project a revenue growth rate of approximately 20% per annum, driven by the increasing demand for remote patient management and telehealth services. The company is focusing on expanding its market reach and enhancing product offerings.

Investor Information

As of the end of Q2 2023, Phreesia's stock performance is as follows:

A Who Owns Phreesia, Inc. (PHR)

Company Overview

Phreesia, Inc. (PHR) provides a patient intake platform for healthcare organizations. The company focuses on streamlining patient registration and enhancing patient engagement, thereby improving operational efficiencies within healthcare providers.

Ownership Structure

As of the latest available data in October 2023, Phreesia has a diverse ownership structure, including institutional investors, individual stakeholders, and company executives.

Major Institutional Investors

Several institutional investors hold significant stakes in Phreesia. Below are the top institutional shareholders along with their respective holdings.

Executive Leadership Ownership

Executive leadership also holds shares, contributing to the insider ownership percentage. Below is a summary of shareholdings by key executives.

Market Capitalization

As of October 2023, Phreesia’s market capitalization is approximately $800 million.

Recent Performance Metrics

Phreesia reported the following financial metrics in its latest quarter:

• Revenue: $24.6 million
• Net Income: $3.2 million
• Earnings Per Share (EPS): $0.07
• Gross Margin: 67%

Future Projections

The projected growth rate for Phreesia over the next five years is around 20% annually.

Phreesia, Inc. (PHR) Mission Statement

Company Overview

Phreesia, Inc. is a healthcare technology company that utilizes a patient engagement platform designed to enhance the patient experience and streamline healthcare operations. The company primarily focuses on creating solutions for patient intake, engagement, and care management.

Mission Statement

The mission of Phreesia, Inc. is to empower patients and healthcare providers through technology that enhances the patient experience, improves healthcare delivery, and optimizes practice workflows. Phreesia’s platform aims to facilitate better communication between patients and providers while ensuring that healthcare practices operate efficiently.

Core Values

• Innovation: Continuously developing cutting-edge solutions.
• Patient-Centric Care: Prioritizing the needs and experiences of patients.
• Collaboration: Working alongside healthcare providers to improve outcomes.

Financial Performance

As of the fiscal year ending January 31, 2023, Phreesia reported the following financial metrics:

Market Presence

Phreesia operates within a competitive market landscape. As of 2023, the company serves over 4,300 healthcare organizations across the United States.

User Engagement Statistics

In 2022, Phreesia recorded notable user engagement metrics:

Technology and Innovation

Phreesia continues to invest in technology to enhance its offerings. Recent innovations include:

• Telehealth Integration: Facilitating remote consultations.
• Real-time Data Analytics: Providing insights for better decision-making.
• Mobile Accessibility: Enhancing patient access through mobile devices.

Strategic Partnerships

Phreesia has established strategic partnerships to strengthen its market position. Some key collaborations include:

• Partnership with major EHR providers.
• Collaboration with health systems for integrated care solutions.
• Alliances with patient advocacy organizations.

Future Goals

Looking ahead, Phreesia aims to:

• Expand its service offerings internationally.
• Enhance patient engagement features.
• Increase partnerships within the healthcare ecosystem.

How Phreesia, Inc. (PHR) Works

Business Overview

Phreesia, Inc. is a technology company that specializes in patient intake management and healthcare workflow solutions. Established in 2005, Phreesia provides a platform that automates the patient check-in process and enhances patient engagement.

Revenue Model

Phreesia generates revenue through subscription fees for its proprietary platform, which includes a variety of services such as:

• Patient check-in solutions
• Appointment scheduling
• Payment processing
• Automated patient surveys

For fiscal year 2022, Phreesia reported revenue of $157.7 million, a 27% increase from $124 million in 2021.

Customer Base

The company serves over 3,600 healthcare organizations across various sectors, including:

• Primary care
• Specialty care
• Behavioral health

Phreesia's platform facilitates over 45 million patient interactions annually.

Key Financial Metrics

Technology and Innovation

Phreesia utilizes a cloud-based platform designed to integrate seamlessly with Electronic Health Records (EHR) systems. This integration allows for:

• Real-time patient data updates
• Improved patient access to healthcare services
• Enhanced analytics capabilities for healthcare providers

Strategic Partnerships

Phreesia has established partnerships with leading EHR providers, including:

• EClinicalWorks
• Epic Systems
• Allscripts

These partnerships enable Phreesia to broaden its market reach and improve service offerings.

Market Position and Competition

As of 2023, Phreesia holds a significant share in the digital patient intake market, competing with companies such as:

• Zocdoc
• QGenda
• PatientPop

Market analysts estimate that the healthcare technology market is expected to reach $500 billion by 2026, providing ample growth opportunities for Phreesia.

Future Outlook

Phreesia aims for continued growth, targeting a revenue increase of approximately 30% annually over the next five years. The company is focusing on enhancing its platform capabilities and expanding its customer base in the U.S. and internationally.

How Phreesia, Inc. (PHR) Makes Money

Revenue Model

Phreesia, Inc. primarily generates revenue through its subscription-based software solutions and services that facilitate patient intake and engagement processes in healthcare settings.

Phreesia's Offerings

Phreesia’s products can be categorized into several key offerings that contribute to their revenue:

• Patient Intake Solutions
• Patient Engagement Services
• Payment Processing Solutions
• Analytics and Reporting Tools

Financial Performance

As of the fiscal year 2023, Phreesia reported the following financial metrics:

Subscription Revenue

Subscription revenues accounted for approximately 81% of the total revenue in 2023. This segment consists of recurring revenue generated through:

• Monthly subscription fees
• Annual service agreements
• Usage-based pricing models

Transaction Revenue

Transaction-based revenue, which includes fees for payment processing and other services, represented around 19% of total revenue in 2023. Key factors include:

• Processing patient payments
• Transaction fees from insurance claims

Customer Base

As of Q4 2023, Phreesia served over 5,800 healthcare providers across the U.S., including:

• Hospitals
• Physician practices
• Outpatient facilities

Market Growth

The healthcare technology market is expected to grow at a CAGR of 23.8% from 2023 to 2030. This expansion offers Phreesia significant opportunities for growth and scaling its offerings.

Competitive Advantages

Phreesia's strong competitive position is supported by:

• Innovative technology platform
• High customer retention rates of over 90%
• Strategic partnerships with various healthcare organizations

Cost Structure

The company’s operational costs are primarily driven by:

• Research and Development - approximately 40% of annual revenue
• Sales and Marketing - around 35%
• General and Administrative Expenses - roughly 25%

Future Projections

For fiscal year 2024, Phreesia anticipates revenue growth between 20% to 25% year-over-year, aiming to reach between $182 million to $189 million in revenue.