Workpath Announces 105% Customer Count Growth from Q1 to Q2; Annual Revenue Growth of 50%
RICHMOND, Va., July 22, 2020 /PRNewswire/ -- Workpath, the only on-demand dispatch and scheduling tech for mobile healthcare teams, is proud to announce a 105% increase in the company's customer count and a 50% increase in revenue from Q1 to Q2 2020. Platform usage has surged as well. Weekly appointment volume increased 165% since January when the first COVID-19 case was reported in the U.S. Since the launch of the platform in 2018, company revenue has grown 915% and more than 85,000 patients have received care dispatched through Workpath.
New Workpath customers include mobile phlebotomy businesses (i.e. blood draws), mobile diagnostic imaging companies (e.g. ultrasounds), and in-home urgent care providers, among others. They join a customer list that includes clinical trial operators, a Fortune 10 company providing at-home care, two of the three largest diagnostic lab businesses in the U.S., and Siemens Healthineers.
Workpath's HIPAA-compliant tech revives the traditional house call. It saves hours of back-office work by instantly matching and dispatching a healthcare provider's qualified, available, and nearby professionals to a patient's home or workplace. It provides updates in real-time to patients awaiting a healthcare professional's arrival through mobile phone alerts, much like the experience of hailing a driver with a ride-sharing app. And it ensures compliance with built-in checklists and integrations to electronic health record systems (EHRs).
Workpath's CEO Eddie Peloke attributes the company's growth to a combination of pandemic-induced shutdowns and the limitations of telehealth. Patients - especially vulnerable populations like elderly or immuno-compromised patients - are avoiding clinics and hospitals out of fear of being infected with COVID-19. In turn, telehealth usage has exploded, but it has its limitations. According to the CDC, 70% of medical decisions require blood tests (or other tests dependent on the collection and analysis of a biological specimen).
"During this pandemic, we have seen the importance of telehealth and how it is going to be central to the future of healthcare in a post-COVID world. However, it's only part of the solution. When testing is needed to manage a chronic illness or help make a proper diagnosis, there is only so much a doctor can do virtually. We believe the return of the house call is here and Workpath is the leading technology provider to ensure the right care provider is efficiently dispatched to the patient's home," said Eddie Peloke, CEO of Workpath.
New and established healthcare organizations, including the Mayo Clinic, are now launching and scaling care-at-home models similar to those that Workpath supports that are effectively moving nursing, diagnostics, primary, acute, and palliative care back to the home. At-home healthcare is expected to be a $515 billion business by 2027.
"Since COVID, we've seen a 50% increase in home medical visits. By using Workpath, we've been able to expediently fulfill all our patient's medical needs," said Jim Riggen, CEO of in-home urgent care company, LX Medical. "Recently, when a seriously ill teenager was turned away from the hospital despite signs of COVID, using Workpath we were able to quickly get a medical provider to her home for a medical evaluation and supply IV fluids and IVIg treatment, which significantly improved her outcome."
To date, Workpath has raised $19.1 MM in funding and is nearing profitability. Investors include Structure Capital and Heritage Group.
Recent Workpath Use Cases:
List of all services for which mobile healthcare professionals are dispatched through Workpath:
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