Cloudmd has a 50 million pipeline For ppl didn't attend results discussion below a link to it
https://seekingalpha.com/article/4558035-cloudmd-software-and-services-inc-docrf-q3-2022-earnings-call-transcript one interesting question below about the pipeline of Doc below it is very interesting. 50 million of arr is a big number. I will hold Karen for it.
Gabriel Leung
I got a couple of questions to ask around the pipeline. Karen, are you able to disclose to us the size of the pipeline just in terms of from an ARR perspective, first off? And are you able to talk about whether or not some of these pipeline opportunities have risen from life work to directly as it relates to take up by its health?
Karen Adams
Okay, so let me answer your first question, which is our pipeline currently stands in and around just north of 50 million. I'm not sure that's meaningful in and of itself other than the fact for us it's a substantial number. And when we talk about pipeline, we talk about qualified pipeline, meaning that we are engaging with the customer in some sort of dialogue of moving them to our products and services. And that's important because the real -- the other pipeline is much larger in the prospects and the people that we're trying to engage.
I would say that we are seeing people convert from a number -- the market in the mental health support is made up of a handful of brand name providers. And given the fact that I think the number is just north of 90% of all employers have a group benefit around mental health. Everybody in the pipeline is probably with somebody now. I can't point to one specific competitor over another. What I can tell you is that the reasons customers are moving from one provider to another is access to care and the ability to see a counselor face-to-face is important for the employer. Not everybody wants to go the telemedicine virtual route.
And the second is this innovation and disruptiveness around the assessment Mental Health Coach and Physical Health Coach. And being able to not have a siloed program where the employer can confidently provide the program and know that we're going to take care of the individual regardless of what their issue is. They don't have to think. Do I call this for mental? Do I call this for physical? It's integrated. So, we're seeing it from a wide variety of competitors. Yes. I don't think it's -- I can't say definitively today it's from any one particular one, Gabriel.