Carespan Health Inc V.CSPN

May30 PR - CARESPAN ACHIEVES 60% REVENUE GROWTH IN Q1/22

[vanbmtz]

https://www.carespanhealth.com/carespan-achieves-60-revenue-growth-and-record-revenues-in-q1-22-with-its-continued-focus-on-enabling-nurse-practitioners-with-digital-care-technology/

• Revenues of US$1.765 million for Q1-2022 compared to US$1.105 million for Q1-2021 an increase of 60% that was primarily driven by an 80% jump in patient visits.
• The number of providers in our networks more than doubled to 103 practitioners as of March 30, 2022 , from 50 compared to a year ago.
• Continued to manage the cost structure, operating loss was reduced to US$(0.671) million in Q1 2022 from US$(2.022) million in Q1 2021.
• Focused on the implementation of the Remote Patient Monitoring (“RPM”) program that launched in March 2022 as a value-added service, and is targeting to enroll approximately 2,000 patients within its current patient base, for whom RPM would be a key component of their respective plan to manage chronic illness. The anticipated reimbursement under RPM is in the range of US$100 to US$115 per patient per month.