Phreesia Announces Acquisition of Insignia Health, LLC, Redoubling Its Commitment to Improve Patients’ Experience and Outcomes
13 12월 2021 - 10:30PM
Business Wire
Phreesia is excited to announce it has acquired Insignia Health,
LLC, a founder-led and mission-oriented company dedicated to
improving health outcomes through patient activation. The
acquisition is a natural extension of Phreesia’s commitment to
enabling patients to become more active participants in their
care.
“Phreesia’s core strength is putting tools in the hands of
patients to take on tasks—from self-reporting data like social
determinants of health to making payments to signing consent
forms—that they can do better than anyone else, and that align with
the convenient digital experience they want,” said Phreesia’s CEO
Chaim Indig. “We’ve long admired Insignia’s expertise in
understanding and activating patients, and we believe this
acquisition will help us deliver on our mission to create a better,
more engaging healthcare experience.”
Phreesia acquired Insignia from its co-founders, Chris Delaney
and Craig Swanson, the University of Oregon and its other holders
of membership interest. Insignia has an exclusive worldwide license
for the Patient Activation Measure® (PAM®), which was created by a
team of researchers at the University of Oregon led by Dr. Judith
Hibbard, who has joined Phreesia in an advisory role.
PAM is widely viewed as the gold standard of patient activation
measures, supported by more than 700 peer-reviewed studies
published in leading healthcare journals over the past 17 years.
The research validates that the brief PAM survey can accurately
measure a patient’s level of “activation”—their knowledge, skills
and confidence for self-management—and can lead to improved health
outcomes, higher patient satisfaction and lower cost of care. PAM
results are used to improve risk identification, guide patient
support and evaluate impact as a patient-reported outcome measure
(PROM).
“When we first created PAM, we wanted to provide clinicians with
a tool to quickly and easily understand a patient’s ability to
self-manage their healthcare, so they could individualize their
approach and better engage their patients through tailored,
incremental changes,” said Dr. Judith Hibbard, Professor Emerita
and Faculty Fellow at the University of Oregon’s Health Policy
Research Group. “The subsequent years of research have revealed the
essential role that activation plays in determining outcomes for
patients. Studies also showed us how the measure can be used to
help clinical teams change the health and cost trajectory for
patients. It is very exciting to have the opportunity to implement
the measure and the related intervention approaches at a scale we
had always hoped for.”
PAM is the only measure of patient activation to receive an
endorsement by the National Quality Forum (NQF), and the only one
to be utilized by the U.S. Centers for Medicare and Medicaid
Services (CMS) and England’s National Health Service (NHS)
beginning in 2019 and 2017, respectively.
“Phreesia’s expertise in empowering patients to gain more
control over their health and care experience through technology
was hugely appealing to us,” said Chris Delaney, co-founder of
Insignia Health. “The number of patients we can reach in a single
week through Phreesia’s platform would otherwise take us months.
We’re thrilled with this opportunity to dramatically expand PAM’s
reach and to help so many more patients become more successful
managers of their health.”
With PAM and related activation-based coaching and patient
education solutions, we believe Insignia brings to Phreesia a
proprietary and universally accepted model that will enable
Phreesia and its provider clients to understand and engage patients
in more personalized ways based on their level of activation.
Forward-looking
Statements
This press release includes express or implied statements that
are not historical facts and are considered forward-looking within
the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act. Forward-looking statements involve
substantial risks and uncertainties. Forward-looking statements
generally relate to future events or our future financial or
operating performance and may contain projections of our future
results of operations or of our financial information or state
other forward-looking information. In some cases, you can identify
forward-looking statements by the following words: “may,” “will,”
“could,” “would,” “should,” “expect,” “intend,” “plan,”
“anticipate,” “believe,” “estimate,” “predict,” “project,”
“potential,” “continue,” “ongoing,” or the negative of these terms
or other comparable terminology, although not all forward-looking
statements contain these words. Although we believe that the
expectations reflected in these forward-looking statements are
reasonable, these statements relate to future events or our future
operational or financial performance and involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by these forward-looking statements. Furthermore, actual
results may differ materially from those described in the
forward-looking statements and will be affected by a variety of
risks and factors that are beyond our control, including, without
limitation, our ability to realize the anticipated benefits of the
Insignia acquisition when expected or at all; difficulties and
delays in integrating Insignia’s business; changes in laws and
regulations applicable to our business model; changes in market
conditions and receptivity to our products and services; our
ability to effectively manage our anticipated growth; the impact of
the COVID-19 pandemic on our business; and our ability to attract,
retain and cross-sell to healthcare provider clients. The
forward-looking statements contained in this release are also
subject to other risks and uncertainties, including, without
limitation, those more fully described in our filings with the
Securities and Exchange Commission (“SEC”), including in Item 1A.
Risk Factors of our Annual Report on Form 10-K for the year ended
January 31, 2021, as updated by our subsequently filed Quarterly
Reports on Form 10-Q, and our other SEC Filings. The
forward-looking statements in this press release speak only as of
the date on which the statements are made. We undertake no
obligation to update, and expressly disclaim the obligation to
update, any forward-looking statements made in this press release
to reflect events or circumstances after the date of this press
release or to reflect new information or the occurrence of
unanticipated events, except as required by law.
About Phreesia
Phreesia gives healthcare organizations a suite of robust
applications to manage the patient intake process. Our innovative
SaaS platform engages patients in their healthcare and provides a
modern, convenient experience, while enabling our clients to
enhance clinical care and drive efficiency.
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Annie Harris aharris@phreesia.com 929-526-2611
Prudential Financial JR Sub Nts 12/31/2068 (NYSE:PHR.CL)
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