Doctor Care Anywhere (‘DOC’ or the ‘Company’), one of the UK’s leading providers of digital health services, has today published an update on trading and activities for the quarter ended 31 December 2020, confirming it has delivered growth across all of its key operating and financial measures, exceeding forecasts in its IPO prospectus. Key highlights from the trading update include:
• DOC now covers 2.2 million eligible lives, up 186.2% on the previous year;
• As of the end of Q4 2020, DOC has activated 432,500 of those lives, up 199.1% on the prior corresponding period and 26.4% above its FY20 Prospectus forecast;
• DOC conducted over 1,300 consultations in a single day in November 2020, a new record that demonstrates the scalability of the platform; and
• As a result, the company reported revenue of £11.6m for its FY20, up 102.1% on 2019.
Commenting on the results, Dr Bayju Thakar, Founder and CEO of Doctor Care Anywhere, said: “We continue to see robust growth in consultation volumes across all channel partners, as new and existing patients become accustomed to adopting digital healthcare into their everyday lives. Consultations have grown over 300% on the prior corresponding period and this demand has helped deliver positive financial outcomes for DOC while demonstrating that we are providing a much-needed service to patients across the UK and Ireland.
“The pandemic has accelerated a long-overdue digitisation of the healthcare industry. Both patients and healthcare practitioners are growing more comfortable with remote diagnosis and treatment. Our patients are benefiting from faster and more convenient access to healthcare. Clinicians are appreciating the flexibility of working at a place and time of their choosing and the efficiency of single electronic health records stored in the cloud. Our insurance partners are also seeing the cost savings that can be achieved by controlling the patient journey and reducing unnecessary interventions.
“I am proud of the role we are playing in supporting the healthcare system and our patients through this difficult period.”
Moving forward, the Company’s focus remains firmly on increasing activations and consultations across its existing membership base, growing its membership base through new channel partner agreements, and adding higher margin diagnostic referral pathways and services to its platform, as DOC works towards delivering the first truly joined up healthcare experience by 2023.