Hi Team,
eHealth Technologies continues to have a very good year thanks to the dedication of our team members. The last few weeks have been difficult due to third-party vendor challenges, and we appreciate the commitment from our Operations team, ensuring that patients get the help that they need as quickly as possible. We know that many of you are putting in a lot of extra effort and we really appreciate it!
We also want to acknowledge the product development team as they continue to build out our platform and have successfully deployed Outreach automation to simplify and streamline the records retrieval process.
At the beginning of the year, we defined clear objectives and set aggressive key results for 2022 and at the end of October, we are forecasting to exceed five, come very close on three, and miss on two key results. YTD, eHealth Technologies:
Improved productivity and reduced costs to continue to fuel innovation and future growth.
We improved our EBITDA margin to 6% YTD with a forecast of 9% for 2022 against a plan of 10%. We improved gross margin to 43% YTD with a forecast of 51% by the end of 2022 against a plan of 55%. We have experienced misses to both gross and EBITDA margins primarily caused by product development delay in Outreach automation, which has now been delivered.
Delivered on customer expectations.
We improved our customer NPS score to +56 against a plan of +50 for 2022. Our customer satisfaction is at risk due to high turnaround times for select customers as a result of delays in ramping up the Pune team, as well as recent IT vendor outages. We’ve advanced the delivery of life-altering care by supporting 296,000 patients YTD with 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 have closed $12.5M in bookings YTD with a forecast of $15.4M for 2022 against a plan of $15.3M. As a team we grew revenue to $28.6M YTD with a forecast of $35.3M for 2022 against a plan of $35.8M. We increased customer logos to 113 with a forecast of 115 for 2022 against a plan of 112. We’re adding new product/market capabilities and delivered $~600K from new products/markets YTD with a forecast of ~$800K for 2022 against a plan of $500K.
Built a diverse, equitable, inclusive, and high-performing culture.
We improved our employee retention rate to 71% YTD with a forecast of 66% for 2022 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 have put plans in place to improve our eNPS to +16 by the end of 2022.
Overall, with less than two months left in 2022, we can be proud of what we’ve achieved and what we have left to accomplish this year. I really appreciate everyone’s hard work and commitment to advancing the delivery of life-altering care.
Regards,
Dan