#Canada #Vancouver #healthcare technology #digital healthcare #WELL Health Technologies

WELL Health Achieves Record Patient Visits in Fiscal 2024

WELL Health Technologies Corp. has announced impressive preliminary results for the fiscal year 2024, confirming its strong position in the digital healthcare landscape. The company recorded over 5.7 million patient visits, marking a remarkable 32% year-on-year increase, primarily driven by a significant 30% organic growth. This growth is a testament to WELL's ongoing commitment to leveraging technology to improve health outcomes and patient care.

Strong Growth in Canadian and US Markets

The company’s success is largely attributed to its Canadian operations, where patient visits soared to approximately 3.125 million, representing a 35% growth compared to the previous year. This growth in Canada resulted from both same clinic sales growth, which accounted for 26%, and 6% absorption growth. The United States also played a crucial role, contributing 2.576 million patient visits, which marks a 28% growth in the healthcare provider sector.

Hamed Shahbazi, the CEO of WELL Health, attributed this success to the integration of technology into their care model. "Our Canadian Clinics, supported by a technology-enabled care framework, have been instrumental in facilitating strong organic growth throughout the company. We are incredibly appreciative of the healthcare professionals and tech experts working harmoniously to yield the best patient outcomes possible," remarked Shahbazi.

Total Care Interactions See Remarkable Increase

In addition to patient visits, WELL Health experienced a notable rise in Total Care Interactions, which escalated to 8.716 million in 2024, a 37% increase over 2023. This figure encompasses not only in-person consultations but also digital interactions facilitated by the platform. With 2.660 million technology interactions, there was a 41% year-on-year increase, showcasing the growing reliance on telehealth and digital tools in the healthcare sector.

WELL Health recorded 354,402 billed provider hours, indicating a substantial 115% growth compared to the prior year, further emphasizing the enhanced engagement of healthcare professionals within the platform. The company’s ability to provide a seamless integration of healthcare services is paramount in achieving these levels of engagement and interaction.

Commitment to Quality Care through Technology

WELL Health’s mission revolves around tech-enabling healthcare providers to positively impact patient outcomes. This includes a comprehensive digital platform that integrates front and back-office management software aimed at empowering healthcare practitioners. Currently, WELL’s solutions are utilized by more than 41,000 healthcare providers across North America, establishing it as a key player in the healthcare ecosystem. The extensive services span primary care, specialized care, and diagnostic services.

Looking Towards the Future

As WELL Health looks ahead, the company is optimistic about continuing this trend of growth and expansion. The commitment to integrating innovative technology solutions into healthcare practices signals a transformative movement within the industry. With such encouraging results from fiscal year 2024, WELL Health is positioned to further enhance its service offerings and expand its reach, delivering quality care to more patients than ever before.

Conclusion

The exceptional performance of WELL Health Technologies Corp. underscores the vital role that technology plays in modern healthcare. As patient visits soar, the organization remains dedicated to creating the best technologies and support systems aimed at enabling healthcare providers to deliver outstanding patient care. The path forward is bright as WELL continues to innovate and adapt to the ever-evolving landscape of healthcare.