The webinarI listened live, but didn't have a chance to comment until now.
Overall, a very good update. Much more transparency. The good news here is that it seems the company is adapting by starting to implement realistic steps to reduce the adherence and collection bottlenecks. Good on them. The bad news is that it might take a while for this to percolate through the entire iUGO ecosystem of existing clients and make it into the financials. For those who thought there would be something magnificent in yesterday's webinar, that would be a disappointment. For those who are looking for steady improvement en route to a successful business model, that would be IMHO encouraging.
Personally, I would think taking over patient adherence (alerts, automated reminders and phone calls) should do much to alleviate the issue, but only time will tell. Also, since collection of A/R shouldn't really be an ongoing problem, the company's new emphasis on it (with teeth) should resolve the issue since it was a man made issue in the first place; i.e., it wasn't really a systemic problem IMHO. Of course, some might argue that they should have put more emphasis on collections sooner, but I'm sure they're doing the best they can. Perhaps the leniency they showed is a major reason why referrals led to those much bigger and better contracts they're now getting.
Oh ya, it's nice to see that $15M hardware contract moving forward. While there is, as we know, a delay between hardware sales and software revenue recognition, still the latter seems inevitable at this point.