Hi Team,
Happy New Year! This is the final Monthly Objectives and Key Results Update for 2022. eHealth Technologies had a good year thanks to your dedication. We appreciate the continued commitment from our Operations team to ensure that patients get the help that they need as quickly as possible. We know that you are continuing to put in a lot of extra effort, and we really appreciate it!
At the beginning of the year, we defined clear objectives and set aggressive key results for 2022. We exceeded three, came very close on four, and missed on three key results. In 2022 eHealth Technologies:
Delivered on customer expectations.
Our customer NPS score increased 7 points this year, coming in at +48 against a plan of +50 for 2022. We’ve advanced the delivery of life-altering care by supporting 354,438 patients exceeding the goal to support 350,000+ patients in 2022.
Grew through expansion within existing, addition of new customers and addition of new products/markets.
We increased sales bookings by over 100% this year by closing $14.1M in bookings against a plan of $15.3M for 2022. As a team we grew revenue by 13% while losing our largest customer, revenue increased to $34.5M with a forecast of $35.7M for 2022. We increased customer logos to 114 exceeding the goal of 112 for 2022. We added new product/market capabilities and delivered $827K from new products/markets, exceeding the goal of $500K.
Built a diverse, equitable, inclusive, and high-performing culture.
We improved our employee retention rate to 67% against a plan of 80%. The miss is due to setting an overly aggressive goal and to experiencing extremely high turnover with our Hyderabad office. We’ve established an employee NPS (eNPS) score of +8 and surveyed the team in November, the eNPS decreased to -4 primarily due to the overtime that has been required to serve patients and decrease turnaround time. We are working to staff appropriately in 2023 and will again listen and act to make sure that eHealth Technologies continues to be a great place to work.
Improved productivity and reduced costs to continue to fuel innovation and future growth.
We improved our EBITDA margin by 16 points this year, coming in at 7% for 2022 against a plan of 10%. We improved our gross margin by 12 points this year, coming in at 42% against a plan of 48%. We experienced misses to both gross and EBITDA margins primarily caused by a product development delay in Outreach automation, which has now been delivered but has yet to deliver on the expected savings. The team has identified three reasons for the continued delay in productivity improvements:
- Outreach prioritization rules requirements did not account for all needed use cases
- Outreach data synchronization had design flaws/defects
- Outreach training was insufficient and rollout plans were overly aggressive
1 & 2 were already addressed, and a new training plan has been completed with execution of the plan to occur throughout January to realize the productivity improvements.
Operations team members are continuing to work overtime to decrease excess backlog and turnaround times. We have created a measurable hypothesis to understand progress. Management is monitoring measurable hypothesis on a daily/weekly basis to make sure that we are on track with the hopes to decrease excess back log and be back on track by the end of January/mid-February. We will learn from the above challenges so that future product development projects deliver on expectations by implementing all preventive actions identified.
Overall, we can be proud of what we’ve achieved this year. I really appreciate everyone’s hard work and commitment to advancing the delivery of life-altering care.
Regards,
Dan