First Stop Health Reports Triple-Digit Revenue Growth on High Member Utilization
May 7, 2018--CHICAGO--(BUSINESS WIRE, First Stop Health)--First Stop Health, a leader in the telemedicine sector of the virtual-care industry, announced details of its 2017 annual results today at the HLTH conference in Las Vegas.
“In 2017 we realized triple-digit top-line revenue growth,” said Patrick Spain, CEO and Co-Founder.
“As a leader in the telemedicine industry in utilization last year, we saw an average usage rate of 52% across our member base (52 calls per 100 enrolled employees). We believe our 2017 utilization was seven times the industry average for employer purchased programs,” Spain added.
“In 2018 our utilization rate has continued to increase, outpacing that of competitors, while our triple-digit revenue growth is also continuing,” Spain said.
Dr. Mark Friedman, Chief Medical Officer and Co-Founder, said: “First Stop Health provides easy access to unlimited doctor consultations via telemedicine with no out-of-pocket cost to members. Moreover, the median doctor call-back time for our 24-hour service is under five minutes.”
“By providing immediate access to treatment nationwide, with no consult fee, we prevent the costly, time-consuming primary care visits that unfortunately lead many people to wait too long to see a doctor,” he added.
Employers purchase First Stop Health’s telemedicine service through their brokers or benefit advisers for employees and their dependent family members. “Tracking the visits we divert from more expensive physical facilities, such as the E.R. or urgent care, allows us to provide detailed analyses to demonstrate the significant net healthcare cost savings we generate for employers,” Spain added. “First Stop Health is the only telemedicine provider to offer contractual guarantees of significant overall cost savings to its clients,” he said.
“Both employers and employees feel they have consistently paid more for healthcare while receiving less,” said Spain. “Our telemedicine service remedies this. We save employers and employees money while improving the health of employees and their families,” he added.
About First Stop Health
Chicago-based First Stop Health provides telemedicine services to members 24/7/365 via phone, online video consultation, and iPhone and Android apps. With convenient access to U.S.-based physicians in 50 states and the District of Columbia, members receive medical advice, diagnosis, and treatment, including prescriptions, when medically necessary. Connect with First Stop Health on the Web, LinkedIn, Owler, Facebook and Twitter.