Accolade, Inc.

Q2 2022 Earnings Conference Call

10/7/2021

spk_0: navigation at the service infrastructure play or such as to let at the bar
spk_1: not the first got that we got talking again thanks for being here i i think when we talk about navigation and the you know anything we have we put an umbrella term on it on a a set of people believe it's imperative that we can a break that down and what weapons capabilities are a number of companies yes are out there speaking about the fact that they deliver navigation today we would say the number of companies who have delivered have have accumulated the claims are at ensure that the nation and our interaction data as well as critical data for you would medical electronic medical record data of the underpinning of the pot on the be able to navigate you benefit navigate through
spk_2: lame got people to the back into that position etc be all the thing that would be your had a lot funnier it's still a very very very small number of companies a lot of people use the word navigation not a lot of people actually delivered allegation that by that that would be point of a one point of or would be ah i think what yeah i think you're absolutely i
spk_1: onto an idea that is is that speaks to the point i can do is ryan's question earlier ah we've architect articulation around the idea of delivering capability that we we'd those capability into offering are those capabilities are available to our partners now are cool when we partner with around us capability another the way without thought about it seventy is ah will partner with people who job mission ah who are aligned in our vision around improving health care for the people that they serve ah and who are aligned in there and in our belief in the idea for my partner and so i had i don't know what that means in terms of potential partnerships with navigation vendors down the road odd but i can't i can tell you we believe that our capabilities architecture is unique in the industry and give up give us an opportunity to be a really productive partner for many
spk_3: thank you and expressing house david larson a bt edgy allies open
spk_4: hi congratulations on a quarter with regards to accolade one and accolade care it seems to me like you know the client he have might be chart a slightly higher p p m reach the overall cost of health care for them and actually to climb more given that you have a more comprehensive solution said he thought a color around and can you put any numbers around like i become our percent savings that they might be able to realize
spk_1: five update to the question they didn't an absolutely we believe ah and up cord to the value proposition of accolade one that were take you to our bangor cause going and the customers beyond it is the idea that when we're together all of these incremental value things above and beyond the to be solutions that both of those customers first muslim the path that will improve clinical outcomes and that we will continue to lower costs above and beyond where we are today ah in the amount of caught that will improve on a on a year of a your bases are based on those incremental services you're going to vary by the population that would serve and them and the makeup of that population just as it does your to buy it for navigation service that i am so it might be too early for us to speak to those incremental saving ah what we can say is we feel so competent of incremental saving that as he mentioned earlier a revenue model create the opportunity to take a little more read while adding upside to the up to the opportunity that we think is really material and could be
spk_2: pod really high value high margin revenue
spk_4: agreement just one more quicklime with adult a variant it sounds to me like being back there was with second md some delays and elective procedures to confirm that second mb revenue still grew by at least thirty percent year over year in the corner and that there wasn't really any other drag that you saw from the doctor variant terms of like the cell cycle oh and then it also sounds to me what adult a variant will become an easier comp or a tailwind in fiscal twenty three this any thought there would be helpful thank you
spk_2: hey david nice the top few yeah i can confirm with that with second them the year over year
spk_5: growth rate is it isn't that just north of thirty percent range yellow on on felt cycle i were going to come back you are in at the end of next quarter and and will give you a sense of how that's coming through but but for second md for sure that thirty percent year over year growth was cheap
spk_3: thank you
spk_6: alex westinghouse an hour airflow barons are lots of them hi thanks for kicking my question on so just one on accolade one and because it's a value based care moto that's quite new in and players benefits market i'm wondering should we expect slightly a longer cell cycle i'm also curious how much education needs to be done so that employers are comfortable
spk_1: with the value base model and also a higher upfront fee pnc yeah think it's a great question i i i appreciate the opportunity to of the more about accolade one we think about i played one that or thing that i think and feed measure that are earlier in his remarks and i think it's imperative that we point out of when we talk about of i have a model well we're not talking about here is a or that medicare advantage of capita risk my to like some other companies are are out in the industry talking about in fact ah self insured employer have rarely been given an opportunity to participate in a model that will warrant clinical outcomes it cost reduction of while improving employee satisfaction when we think about of of this value based model what were essentially got going to the customer with is a brand new set of capabilities are a brand new offering a they haven't been approached with in the past that speaks to all of those factors the reality is self insured employers today are very rarely being approached with numbers the so kid with with ide clinical improvement with numbers as they say will cost reduction and measurable value while at the same time the british satisfaction of employees that said i mentioned in my pay my prepared remarks that you're absolutely right thought we think that the the hundreds of the interest in act like one is really going to be in our existing customer bit too
spk_7: customers who have taken advantage of navigation expert medical opinion or accolade care in the path and who are built off of that trusted relationship and the dataset that drives the measure ability of the healthcare we've delivered for them are world would be very interested in upgrading or moving forward to a broader awkward wow
spk_1: felicia
spk_3: and so in a way that imply the longer felt like a with i think it is got he is a little bit different than me that my paint that extra a little bit differently but i think it gets to the same outcome
spk_8: and expressing council become that about lot of their eliza
spk_5: a tasting the question just one click point of clarification on help reveal outskirts of that contributed all to the second quarter on revenue or die and is there any impact and that contemplated and fiscal twenty two guide and saving their on that ain't broke up there set something to note thanks during a vagrant thanks for thanks for being here at first of all that that position get quotes as that per second quarter and that isn't there's not really any revenue to speak up there it's really about the intellectual property and the theme that we have fired and the value that contributing that shocked the new spoke about earlier along with browsers with that
spk_3: thing remarks and i with the team that coming over were bad thing that in it's part of our guide and ah in fiscal twenty two and from a fan perspective
spk_1: ancient i'm so low for the class at his family to china call back over to receive think when it was a more
spk_3: we appreciate all of you being here thanks for joining us we are we look for the pollen at the post the call and the and catching up with the next quarter as well thank you
spk_0: thank you ladies and other the second with a conference they don't participate in me are disconnect have a great guy
spk_3: the
spk_2: good day and thank you for standing by welcome to the accolade que to earning conference call at this time over to the or analysts and only mode after the figures presentation there will be a question and answer session to ask the question during the session you will need to press star
spk_9: our one on your telephone with the an adviser today's conference is being recorded if you require the further assistance please birth star zero i wouldn't like to have a conference over to your speaker today taught friedman senior vice president of investor relations with go ahead sushi what murder want to our fiscal second quarter or his goal with really cold today rgb second the officer reducing energy police officers the barnes says you know the or chief medical officer will answer the question to answer portion of the call later before to the cold over dressy please note the will be discussing certain nine got me into measures that we believe our input
spk_10: it when evaluating ugly performance details on the road relationship between the non measures to the most comparable got measures and the reconciliation thereof can be found in the personally that have posted on a website also please know that certain statements made this call or before they get statements as defined by the private securities litigation reform act imagine ninety five such for the your statements are subject to risks uncertainties another factors that could cause the as a result regular did materially from those express or implied in this call for additional information please refer to a cautionary stephen in a press release and are falling to the as he see all of which are available on a website and with that attitude call over to our ceo reducing was
spk_1: thanks todd and that think it everyone for joining us the second quarter with another strong quarter and are continuing growth and expansion has actually reinvent the healthcare mark revenue and adjusted ebitda were both out of guidance and we added many new marquee customers across all of our solutions and segments and we demonstrated be accelerated integration of are acquired companies with a lot of to new solutions
spk_10: the will give you more details than our our financial not a little bit later in the call i want to spend some time today discussing our new solutions and the concede evolution of our strategy and the growth of our target addressable market before i do let me review some highlights of our executions and last quarter the demand varma first leashes remains strong and we added new customers across all market segments and in new sales upgrades and cross else we had it new customers and signed up great this quarter with one on companies like tory burch an artist and partners as well as a global financial services brand and ago boss fatality rate to name a few and our health plan partners also continue to add to our customers
spk_1: we also signed our first customers for accolade care the primary care method solution we announced at a ball in september
spk_2: given that we only and is new offering last month were clearly pleased with our progress and are pipeline continued to expand raw so excited to announce the we have to existing customers committed to be the vanguard customers for our new accolade one solution since or i p just a year ago we've expanded our address bull market by tennis to more than two hundred billion dollars that is manifesting and new opportunities for business and represented by growing pipeline across every market segment in in these new categories
spk_10: two weeks ago we challenge the healthcare industry in our annual customer event evolve twenty one we told our customers are partners an industry that it was time to move forward that simply applying new technologies to tired old business models only served to perpetuate the efficiencies of health care industry that now make up nearly twenty percent of gdp and deliver subpar outcomes and rising costs for employers
spk_2: you could introducing a whole new category called personalize healthcare designed to deliver against the quadruple aim
spk_10: that our patient experience improving health outcomes giving physicians the tools they need to serve their patients and lowering health care costs and we announced to new solutions that specifically answer the call for personal like healthcare the these solutions accolade care and accolade one bring together the capability of advocacy expert medical cancelled and primary care and mental health
spk_2: employers of all sizes recognize that a positive help experience is critical to delivering a soup a superior employee experience you're seeing this play out loud voices across the country as millions of people leave their jobs seeking something that works better for them
spk_10: sometimes that's a shorter commute sometimes have the better boss a more than half of all people who lead their jobs today say a poor health care experience has one of the main reasons they quit this isn't just about cost reduction it's about employee engagement in an era where employee engagement is a strategic imperative
spk_9: employers need a better way
spk_10: i like to spend a minute now briefly outlining the category of personalized health care and then tell you more about accolade care and actually one
spk_1: for starters there are three key attributes for any offering in person like healthcare first it's personal we have to put the humanity back in the healthcare we hold the view that having a long lasting personal relationship matters
spk_2: too many have tried to replace people with technology inappropriately innovation and technology are good and they can make the experience better but nothing can replace the human experience and healthcare
spk_10: two or second it a data driven we must harness the power of data to make health care back to make smart recommendations to build personalized health plans to equip position with the most current clinical guidance machine learning and a i should be leveraged to make the experience more personal not less
spk_1: and lastly it has value based it's time to replace the preserve of health healthcare with value bit care it's time that we measure quality outcomes and satisfaction like we do winning every other industry every accolade solution is built on these court tennis and these bullies or foundational the who we are as a company and who we've always been with the introduction of accolade blonde and accolade care we now offering three different sets of solutions to our customers first advocacy solutions that we've been leading the market and for more than ten years
spk_10: second expert medical opinion solutions like acts accolade expert md formerly known as second empty and third or new care solutions actually care and accolade one
spk_2: this setup solutions unique in their breath allow us to me customers with where they'd like to be met and serve them need most important to them in the current time
spk_1: all of these solutions are built on a next generation technologies that the losses to seamlessly we've capabilities across all of the of offerings
spk_2: accordingly capabilities like a true help engine and action plan which provides the ability to process volumes of healthcare data to determine next bend action for one of our members can be blended with intelligent provider matching which matches opposition to a member based on cost and quality information or would benefit plan management the
spk_10: ability that just benefits playing document at scale and translate them into plain english every solution capability can be delivered via any of our core offering this nimble technology architecture coupled with our market leading dataset and a i keep abilities make all of our individual solutions uniquely powerful when we choose to develop acquired new technologies like the help reveal capability
spk_5: mentioned in our press release that will strengthen our true help action plans are technology diligence is critical to ensuring that new capabilities will work and scale within our architecture
spk_10: we are building and operating system for the delivery of health care and scale and we believe this is a long term competitive mode for our company
spk_1: now let's talk about these solutions that were so excited about accolade care represents a leap pad the last generation or generation of one of the telemedicine solutions on the market this virtual primary care and mental health solution is unique because it not only blends primary care and mental health the a unique collaborative care model
spk_10: it also incorporate the capabilities backlit advocacy solutions things like driving benefit solutions adoption intelligent provider matching and careful ordination
spk_1: we expect actually care to be a solution that's appealing to both new prospect in every market segment and across sell opportunity for our existing customers
spk_2: actually care is available now and as noted earlier already has its first customers pricing for the solution is on up ppm bases plus visit these with performance guarantees consistent with our contracts in the past accolades one is our most comprehensive offering delivering an integrated value base model to employers that includes a combination of nearly all of accolades capabilities
spk_9: including a number of new innovations that are either available today are in development and demonstrated a ball
spk_1: weeks back actually want to be a significant up sell opportunity for customers that are already taking advantage of them of our solutions while we will certainly present the solution in the prospects we expect most prospect to choose to start with one of our core offering before expanding their relationship with us
spk_5: pride pricing for the solution will be built off of our existing relationships and include value based game sharing as we deliver incremental savings and improve clinical outcomes
spk_2: it will be generally available available next year and we'd expect revenue contribution in our fiscal two thousand twenty four
spk_1: eddie ball we also enough to rebrand for accolade expert md which previously sold as second empty and accolade advocacy are out and benefits total care and total benefits solutions
spk_10: the rebrand highlights the evolution of are offering to include more capabilities and bring together the acquisitions into a more unified portfolio
spk_2: accolade act advocacy as always will still be sold in tears and that bundling will continue under the
spk_10: one last note on a ball twenty one it was in inspiring events were able to showcase both our customers and our partners as well as introducing our customers to our new integrated leadership team
spk_1: partners like berta rx saving sword carrot and ginger presented and a great list of customers also presented on their accolade experience
spk_10: lastly before i the call this deep i want to touch on one other piece of news in our today's press release about our our acquisition of materially all the outset of help for deal
spk_2: help reveal capabilities address one of the most critical gaps and care delivery today which is trying to ensure that all physicians are working with the most current evidence based guidelines when recommending courses of treatment for their patience today date as a highly manual process largely done to print guidelines are hard to access online libraries when delivered via accolades to help action plans help reveals recommendations will help ensure our primary care physicians are operating according to the most up to date evidence base guidelines reinforcing our commitment to high quality
spk_10: personalized health care at scale
spk_2: with this acquisition week game competitively differentiated ip and an extraordinarily talented team that we're pleased to welcome to accolade while this is very a very modestly sized acquisition it's a good time to repress on our core principles of emanate innovation and partnership we're building a virtual forward personalized healthcare platform so members always get the care they need when they need it or innovation engine continue to be a primary source of new capabilities and we will continue to fund that engine
spk_1: our partnership engine is aligned to integrate partners who share our value orientation are interested in meaningful integration and are committed to improving clinical outcomes in chronic conditions or specialty years
spk_10: our emanate a book focus is on virtual forward solutions that either materially improve our current capabilities or advocate of capability that impact the broad populations we serve all of that is underpinned by disciplined approach regarding valuation and piano profile that are the foundation of our commitment to our shareholders
spk_11: with that i will now turn the columnist the barnes are cheap and asked financial officer to discuss a result and poland guys steep
spk_5: thank you rushed first or recap the results for the second quarter of fiscal twenty two keep in mind that we close the second md acquisition and que one and the plus care acquisition in early key to where appropriate i'll provide color on the year over year comparisons beyond the tables in the press release and you will find additional pro forma detail in the ten you first we generated seventy three point three million dollars in revenue in the second fiscal quarter representing approximately one hundred percent year over year growth and got faith as over the prior year period and at two point three million dollar be against the top end of our guidance range
spk_11: in our ten que we provide pro forma results for the combined businesses that showed thirty two percent que to growth year over year
spk_10: as we provide pro forma results per se si requirements for the rest of the fiscal year keep in mind that we are selling are solutions both together and separately so ah the reported pro forma revenue growth and probably profitability numbers are intended to reflect the acquisitions a standalone it may not always be a perfect representation of how he say
spk_11: the customers and run the business overall the revenue a performance relative the guidance with largely attributable to solid execution on multiple fronts including favorable customer member counts and positive contributions from plus cares direct to consumer business both of which benefited adjusted either die
spk_10: also note that plus carriage she'd the significant milestone the past quarter having crossed the threshold of one hundred thousand subscribers on the direct to consumer platform in just two years after launching the subscription element of that offering
spk_11: we are bullish on the growth opportunity of our virtual primary care of business both the of the directed consumer model and enterprises the accolade care and accolade one it's good you to adjusted gross margin of forty point nine percent compared to forty three point three percent in the prior year period reflecting investment and staffing or frontline care teams to support growth and integration as dated empire earnings cause we expect adjusted gross margin to remain relatively flat on a full year base as compared to fiscal two thousand and twenty one
spk_10: adjusted even than the second quarter of fiscal twenty two outperform guidance with a lot of nineteen point four million dollars which compared to eight point seven million dollars in the prior year second fiscal quarter turning to the balance sheet cash cash equivalents and marketable securities at the end of fiscal second quarter total of three hundred eighty four million dollars note that during the quarter we paid approximately thirty four million dollars net of cash acquired and working capital adjustments related to the plush care acquisition
spk_11: finally we had approximately sixty six point three million shares of common stock outstanding as of august thirty first twenty twenty one
spk_5: did did not include approximately three point six million shares to be issued encounter twenty two related to the second md and plus care and else
spk_10: and now turning the guidance for the fiscal third quarter ending november thirtieth twenty twenty one we expect revenue in the range of seventy four point five to seventy six point five million dollars and adjusted he but i lost in the range of twenty one point five to twenty four point five million dollars
spk_11: as noted in the press release revenue guys for fiscal que three includes approximately two point five million dollars from performance guaranteed that have been earned and we expect to recognize and fiscal que three rather than fiscal que four and for the fiscal year ending february twenty eight twenty twenty two we expect revenue in the range of three hundred three to three hundred seven million dollars representing approximately seventy nine percent growth over the prior year at the midpoint we are reiterating adjusted he that loss for fiscal twenty two which is expected to be in the range of forty nine to fifty four million dollars representing and adjusted even are lots of approximately negative seventeen percent of revenues at the midpoint before he open up the coffee or questions i'd like to address some of the top items we've been getting from investors over the past few weeks
spk_2: first i'll provide some color about the macro environment particularly around the labor market and the delta very an impact and then i'll talk a bit about the financial model for our new solutions that raj mentioned
spk_11: i'll start with broad remark about accolades business we have never felt better about our company or solutions are people our customers and our market opportunity coming off of evolve we are hearing feedback from customers that not only validates the personalize healthcare category but tells us that our relationships are going to progress in a significant and positive way of and coming years
spk_10: will continue to invest against that opportunity bouts with financial discipline as we've consistently said
spk_11: and with all that said we do the same thing that you do in the macro environment the labor market is tight and many areas and the delta variant is still praying and unusual of health care spending environment we've seen virtual care continue to grow as people avoid doctors' offices and become more accustomed to virtual care but we've also seen pressure on second opinion volumes as people the for elective procedures as you can see from our guidance we raised our top line to reflect the queue to our performance but much as we did last year in the early days with a pandemic we will continue to taking measured approach to our outlook through the end of the year
spk_10: now respect or new offerings accolade one an accolade care we like outlined some key points on our revenue in pricing models roger dress the pricing models for these solutions and i led to give you some quick model color
spk_11: first and argue there is no need for changes the models at this time from a timing perspective we have an initial pilot customers for accolade one that will be marketing accolade one an accolade care as part of our portfolio during calendar year twenty twenty two for what we'd expect to be january first twenty twenty three launches swedes that no impact to the current fiscal year and a relatively small while financial impact in fiscal twenty three and then growing and fiscal twenty four oblate of the it's still relatively small compared to the full accolade business and our core advocacy solutions
spk_10: we expect our time that as we drive it's incremental value we will earn more revenue per customer and contribute to our goals of gross margin expansion
spk_11: and second we reiterate our expectations for the long term operating metrics that we've outlined previously particularly revenue growth and the twenty five percent range gross margins greater than fifty percent and long term operating margins as measured by adjusted ebitda in the fifteen to twenty percent range on pricing accolade care will consist of ppm revenues and visit feeds from virtual a primary care visits mental health support and some advocacy services and include performance guarantees accolade one will go a step further and playing a valuable care model that one clued upside elements to our revenue that will allow us to share and the benefits of improve outcomes and incremental savings that we expect to drive for our customers this is consistent with our history of putting a portion of our fees at risk as you know our current contract for accolade advocacy general include about ten percent of the that reds for cost savings and an additional twenty percent at risk for the achievement of various value driver such as member engagement levels and satisfaction with consistently demonstrated success in these measures having historically earned more than ninety five percent of that total ppm the opportune me and her advocacy offerings and the third party foundations of our cost savings including to in depth studies by i am
spk_1: we have strong conviction based on our past success that weaving together primary care mental help support expert medical opinion and other clinical programs will enable us to drive materially higher cost savings for customers the accolade one
spk_8: and with that of and the call that over to rush
spk_10: thanks deep under close the call by thanking are newly formed team six months ago we were three completely separate businesses executing against different strategies and different objectives
spk_3: to see does come to get this team come together so quickly and deliver a three day customer of event speaking as a sin single team with integrated solutions and a single voice validated not only the strategy behind acquisition a more importantly validated our judgment about the quality of the people across these organizations thank you to the team or operator
spk_12: i'd now like to been caught questions thank you again later animals like as the question confess die than one on the touchdowns hello
spk_2: i get that the question as five and what we do ask that humanity itself for one question and a follow up with question councils event a thing of credit which salons open yeah thank your of and think follicle around the economic but i want to better understand the economic for accolade one around the house value based pricing is going to work of a new be taking any downside misguided on the all upside potential and i know you talked about acrid one when not contribute and and fiscal twenty four those
spk_11: wondering if any ali feedback on interest level you can share from your customers and point
spk_1: a hydro under as the let me i'll start off with the pricing model and of right way and a bit on and some of the yeah early customer feedback and weekend we can hit some the application them only the fact that that revenue to flow so think of accolade by one as the copper
spk_2: of offering with the in integration of all of our capabilities okay i'm and as raj mentioned in his comment this is likely to start of and up zelda customer they're already taking advantage of some of our solution
spk_11: the revenue model that let's compare it to actually follow health benefits because i think that's a good way to start on importantly we wanna know we want you think the this as a see that risk model the does not to be thought of as a add a fully capital medical rest model like a medicare advantage model think of it more
spk_2: this way if you think of are typical total happen benefits customer having something like seventy percent of our ppm fees fixed with thirty percent on a performance basis and about ten percent of that on a thieving basis
spk_1: we're looking to do it as we drive more savings for the customer is there have accolade participate in that additional and to the outside now to a point on a downside we think about it roughly this way we may go something like fifty percent said that of seventy percent sex and then have some up died the call it twenty five percent or hundred and thirty percent to take advantage of additional saving on top of that the that the hundred percent if you want to think of it that way on again share basis importantly join that we go back to the point that we have a track record of earning were ninety five percent of our pvm feet ppm feet and view that downside risk as highly manageable and on the up by the opportunity to participate in an additional savings that we would expect to occur because we're going so much further beyond just the advocacy offering into clinical areas around virtual carmaker mental health expert medical opinion though
spk_12: we think on a dry that additional savings and badges apology letter get a great talking thanks for being here ah this is raj just jumping in on the customer interest we as others have to customers are ready that we've announced that up as vanguard customers are those to customers are actually are in profits are preparing for deployment going into the pilot period we also have a significant interest coming out of the ball were a number of across with have reached out to us and scheduled time to go through what accolade one is how the integration will work and how the model will work and so the a little early to give you have much color on how many customers will embrace it but what we can tell you if feedback from evolve
spk_2: of interest in terms of generation of pipelines of been positive
spk_11: okay and then my quick follow up on that you be dot guidance update or can you provide more details on water the new new incremental costs cost your reflecting and second half with as resulting in for your guidance unchained despite a be that coming in better and a quarter of the related all of and up for labor market
spk_2: situation in something else going on his help us understand that be the guidance of did
spk_3: sure oh primarily join drive reflect additional investments as we're making it thinking about the combined offerings and going taking them to market for your see in the pits second quarter results from you look at the outback fine you'll see the thousand mark mean line growing a beard into the loath one a low to mid twenty percent range
spk_13: the percentage of revenue that reflect go to market investments that were making your thirty some of that and then the product and a the patent technology line and certainly there are some impact around wages and labour that are flowing through there as well i wouldn't point to that of the material factor our really point to the the investments were making around be the new offerings thank you are next question comes from michael charney a bank of america your lands open
spk_1: ah afternoon and appreciate again on the details as wow raj have time to beginning talking about some of the marquee when you have offered in the car and obviously talk with the vanguard when factly care you give us a lot more crossfit a big picture with you on i was going on the phone season when activity levels and it'd be like for previous years and least in terms of how you were thinking about
spk_2: the rollout a when the they would generate you feel happy comfortable with helping shook out forces where your plan your team defense forces advised ago
spk_1: that microsoft good thought the effects are making time for us we're ah worry about now a little bit into the third quarter of the year and what we found i think a couple of think i tried to call out in some am i prepared remarks earth ah by entering the care delivery space we be materially expand that are marketed so we actually both thought to vanguard customers broccoli won but also to customers brackley care and offering that we actually just it announced in late september and so the idea that we're saying that pipeline develop we're also seeing it's based the that pipeline we're really excited about ah of
spk_13: indian pointing out that we actually thought customer findings in every pore segment across every one of our market every one of five are offering also pointing to the fact that you were looking at the demand environment seeing and expanding pipeline thing continued wins it with major customers one of the major password and image the major asked ah the corporation i would just get approval to what they their name is far higher corporations a of the before we others are press release and so lab what we're seeing great wins with mark he brands and what we're really thing mike in my mind is an increasing alignment with with large employers and small looking at
spk_1: the idea of a platform to weave together everything that they do with an acknowledgement that the demand was that the odd that the point solution in the market or somewhat overwhelming for buyers to manage our our capacity a week together that person like healthcare platform we think is is voting really well for us today will do them more crust mara and you actually got killed my santa what my father crush was gonna be regarding that taxi your see on the digital health benefits obviously actually started and focused on your ecosystem partners he trusts fire time for years
spk_2: as you think about to go forward basis how than of alving in terms of parties that want to work with you vs party that might want to go out on their own and how that factor into the value proposition that you make your able to deliver in terms of the pitch forward for on going to cost wins
spk_1: i'm going to pick the first half of that question my get a my let sharpening on the i keep medical officer really drive dollar cook partnerships or take the second part of that question or the to odds with the howard pushy our for like partners and working together
spk_2: bought from our perspective this is not the in this is very much a customer driven need customers are coming to us and saying what we want is ah a pop up a manicure set of god partners that you can bring to bear where you can a warrant for off the engagement leveled that a be driven the clinical outcomes it'll be driven off end of them a sense of stability or or capacity from a financial stability security perspective etc or of that particular manner and so we're not
spk_14: seeing a lot of partners day i want to go i want to do something separately impact on the demand for partners india the platform is pretty high company would you were you add a little are and hour thinking about our this before
spk_3: yeah absolutely that the great question know when we think about personally out directly any the whole idea that the third pillar on value the that really are north star idol adding as the big about the different category brave looking at one of the car driver by that that employers are dying when we're thinking about ah
spk_15: one of the that on a about and the variable to wind up rafa looking at that numbers were you know that that you know that's really gonna gonna be challenge on and on the mine for a blatantly think more more about the employer spirit and so that really driving a lot of or flush the bigger than done and i align it in a warrant
spk_16: better padlock they you
spk_5: and as a cousin david grossman before your eyes open
spk_2: ah thank you
spk_5: he can afternoon at me because it's school start with a quick come financial question if i don't know if i did my mouth right but it it looks like the implied fourth quarter revenue guidance implies a pretty significant deceleration year over year growth even a few you add that to a half million dollars or performances it is my now right
spk_2: or if not if it is can use provide some color on you know kind of a medical eye on that may be impacting that comparison sure they did that steam thanks adventure the question and i absolutely will will walk you through how to think about that first of all our when you think about the the first half of the year and like the prefer if we hadn't thought execution raising the guidance
spk_5: we we we did pull for that two and a half million dollars we also last quarter ford ford about a million dollar so you take that pro for my birthday and add that in ad that three and a half million dollars you get back up into the territory of of where i think you had that probably be expecting to see that are bad one of the very important thing we're doing here today is similar to where we were the time last year unfortunately given the doubt the van dyke later labor markets we are taken on a measured approach to the full year to the rest of the year and given sometimes the lumpy nets or the quarterly revenue in the booking we real
spk_16: lee do guide you to think about the full year growth rate and when you look at it from that perspective were like an adult your high twenty than a performer basis caught on a percent growth rate which gets into that point we talk about before you know twenty five percent for accolade the the legacy plus care and like an md businesses growing and a plus thirty basis but what you're seeing their can play out for the fourth quarter is that bit of our of you to take a pragmatic approach while the markets
spk_1: our that borrowed all right now and ah that's where you see that that guide coming in i gotta thank you very much for for the clarification and and maybe if i could just sidestep over to some a conversation about accolade one and and i'm just curious you know i know you only have it on a short window of experience and talking to customers about yeah this product and and sounds like a book a couple that are gonna go into a pilot says that he knows you're talking to them how does this impact you know and when they talking about the product how they view their traditional pair relationships because so much of what early offering is is really a new and different way and destructive way of delivering it on something very similar so i'm just curious if you have an issue back of far
spk_2: absolutely david cobb in one of the think that were most excited about
spk_1: is that were able to approach our customers with a value proposition a check the lot of boxes that they've been thinking about for a number of years ah when you think about accolade wine were improving access to care ah were improving the affordability of care ah we're solving somehow back with the issues associated with that acts as a garish you in markets where ah it's been a profound problem for most of the customers that we sir
spk_2: in all of those respect david i would say ah we're solving the problem in a brand new way and not in a way that they perceived when the responsibility of their carrier meeting they're looking for broader more holistic solution that we've together longitudinal relationships of that fall that the care problems on the front end
spk_1: and that's all on clinical outcomes on the back and
spk_0: not that a shift in the mentality of buyers moving away from transactional care moving away from condition bogus care and move into that longitudinal model
spk_17: we think that more and more of those very same customers are coming to think what you're doing is giving me that capacity did deliver up on the hypothesis a base care without changing the fundamental rails of the system i've already built my entire ecosystem on and i don't have to change my carrier i don't have to change my plan design i don't have to change by network and i can get all this value and so i might but put that on it's head a little bit david and day and back what we're really doing is enabling for our customers and their their payroll a kinship the opportunity to let the status quo remain while delivering outcome than result that materially improve the status quo thank you are a special counsel ricky goldwasser of market value on something yeah hi ah good afternoon thanks for taking my question so i want to to unpack little bit more than of some of the near term trends you are seeing the first maybe he can start i think ah seen thirty two percent year over year revenue growth in a performer basis i'll give us the collar on off at thirty two percent on that what the you have your growth of four versus the year of the year that you've seen on from the acquisitions and then secondly in it that can count is my five question and pretty there are things that i'm
spk_2: that were better and a quarter ah i'm the kind of better than you expected and hence the upside ah
spk_5: within know to your comment you're saying headline a headwind from ah different off ah surgery is it's packing second opinion accounts a potentially retention at least in the near term an employers could be an issue can you trust to help us cause like pack and maybe catholic help bridge between and quantify on what ah but the upside was and then can affect the off that i think that would really help us as we think about our modeling not just for the second half the year
spk_18: also the comparisons into next year
spk_2: sure her it be purple thing so and when you look at the thirty thirty two percent pro forma growth rate it actually i hope the across the three business days you'll see and that you are we unpack that ah for accolades color business within the range of at thirty two numb thirty two percent number and for each of the second the and busquets in the ah thirty percent as well so very strong performance that way across the board
spk_5: meaning when when we wrap reflect on his comments about membership and labor market is really thinking prospectively the mommy think about the second half and where we may or may may see some impact of the variant and that the labor market now with respect to expert medical opinion i well know that fit into that point with
spk_3: some of those expert medical opinions are down a bit as we're seeing fewer elective procedures happening in parts of the country so there's some their that you'll see the second md a sequential quarter growth is fairly flat on the flip side virtual primary care visits with saw be very strong through the bus
spk_19: air direct to consumer platform and as raj i'm just noting that the bush view we have towards the opportunity with the enterprise around virtual or primary care comes from that as well so done in interesting leave or diversification of bed with in the bath form is showing up in the fence that the virtual primary care visits and then positive where the yard there's been a bit of headwind on the extra medical opinion side at the moment on a for those reasons
spk_2: thank you
spk_1: thank you and question comes from why and dang of the way of a lot of open yeah thank you for taking the questions little bit of a follow up on early one but i'm curious as a lot of the point solutions appear to be coalescing around the navigation space and providers i think it's driving love em in a in the space of excel virgin today by well talk and some other emin activists i'm curious what you're seeing if you go to the sales i'm on the competitive front yep that's true changed a lot or of your positions and continued innovation have very large extent of the curve there that's the question ryan i'd i'd i do we do fundamentally believe that this out that the person like health care and the idea first like healthcare platform that are built the a forward on human relationship our by data and everything that that implies run artificial intelligence the machine learning and me measurable around value based outcome of that that is fundamentally differentiated and continued to be differentiated in the marketplace the women volley talk about this and i know why you might have heard this month before right of the breakup market that the competition in multiple forms are you mentioned well thought there are those companies out there that are digital or word solutions really odd a geared around driving digital only are highly digital engagement ah and and dog that category police's like that that traditionally drive lower engage the level and are willing to warrant real cost savings on i am on a population basis are there are also not you know compete in the traditional navigation bathe ah who have our of for navigation of the whole but not necessarily woven together some of the other components of the story around provider selection around the virtual primary care mental health and around things like downstream expert medical complications are you
spk_19: in those regards we think we have an opportunity to materially improve the performance of the delivery of value based care and savings and engagement levels ah there's also a category competitors out there is as you mentioned there's that but it's a wide variety of players in the space ah who are episodic in nature who are looking had transactional care or looking had ah moment in time work tumors are entering the healthcare system in attempting the can help us consumers during those moments we think those episodic solutions have value but are unable to have managed population help a long term cost reduction on a population by it's ah and then finally there's onsite gathered outside near sidebar providers in the space or also really in our view are focused on those transactional moments where without access to claim theta without access to the dataset underneath that last you know journey are unable to provide the last you the care necessary and so
spk_1: he have you it at europe's summarizing all that rhyme the the category the competitors certainly expanded different companies are acknowledging the value of navigation the value of the dataset the we've spent ten twelve years has accumulated and the value of longitudinal relationships are with we're we're pleased with the idea that ah that many these concepts want that we've been talking about for the last ten years ah and that we're building everything that we've acquired and build on our own on top of those principles that's very helpful car appreciate that and maybe as a follow up and take a different twist on this does it actually open up with your router capabilities new market potential for you you mention near sighted on site we talked about value base karen from the providers take on am a risk or provided groups airing and a years or commercial shirt savings is they take on that risk and about their model they may look for someone like an accolade the can help them with gauge meant and second opinions and network management can have everything you do for your core employer customer city see as a market they could also open up for you longer term given the capability certain some of that either they have to stay competitive decks yeah i think it's such a great question riot in in part because it is it
spk_19: it really points to the fact that what we really when you but we really put together both our own nation and the innovation of the companies that we've now made a part of the actually family is a suite of capabilities that range from primary care to finding the best doctor using cost and quality data to consuming benefits data at scale for the week
spk_3: can make you aware of the benefit programs in your in your ecosystem to thought to be able to process millions of claim are per day per week so that we can understand where you are in your jury and understand ah what the financial impact of all of these a these cable of the healthcare in incursion
spk_12: our each of those capability are interesting to our partners on a stand alone basis and for some of our partners they're interested in are offering that are all what you seem more from all over the court the last two or three years is we've gone from a company that really sold exclusively directly to employers the now a company that that that the right
spk_20: the material portion of our customer relationships rom god relationship with health plan and others who are looking to take advantage of are those capabilities in a way that are that at that give a significant value to the remainder of the heap of them they've assembled for their customers
spk_2: so you know i'm not speaking specifically to the example that you gave ryan but we've built and architecture and at of capability that allow us to be extremely partner friendly with partners who share value orientation and if your desired effect healthcare and so ah the of that that with a long winded way of saying yes
spk_1: i appreciate it thank you thank you and pressing cause homework the cloth attack or to know any a lot of open yeah thanks for the questions congratulations on the results on appreciate the common tambien bullish and the virtual primary chair i'm curious you know how you're thinking about the competitive environment in this sub segment on he said you were selling all the products on stand alone and i'm curious whether you're bumping into know the likes of power docker any others and how these conversations are going with potential customers
spk_2: thanks to the question and appreciate you be in here i i i think the add the money given me give it color on a on the competitive landscape certainly in the virtual primary care and methanol bay where or which is where we play with i played scare thought we would be bumping into the competitors
spk_1: you might expect who am i would think the claim in are either telemedicine urgent care or in primary care in some way shape or form as the that list competitors are likely to be different than the one you might expect expected to be where we differentiate in that respect is is at our core we've added to the capability to and
spk_12: liver a primary care and mental health a set up capabilities underneath that that you might more authentic way or or or associate with navigation ah we can help you understand what your benefits are and than actually prescribed those benefits right from the doctor's visit we can help you understand which position you're supposed to see using data that when we when we send you to that position and with book an appointment for your we knowing any is the best possible doctor those capabilities which previously have been under the cover off to see the bark navigation tools are now also available in our care or in our actually care offering that fundamentally differentiated and so to our level really excited about
spk_21: well in the pipeline's growing their ah we're finding a week with the not a couple of deal faster than we expected via which is now happened twice the same thing happened with that for medical opinion or ago
spk_1: ah is were seeing the man from new prospect and and this is that this is very exciting we're seeing customers particularly after our a ball comp and just two weeks ago are raising their hand and they want to know more ah and their familiarity with our existing solutions in those existing navigation capabilities ah make the accolade care offering even more sensible for them and so that pipeline continues to grow and i think maybe tier point or that of those are a set of transactions or deal that we didn't get the player and in two thousand and one it for here we are in two thousand twenty one that a brand new category and we're excited about the fact that we're starting to see victory in that brand the category
spk_2: thanks are very helpful there in a i guess my follow up going back to and
spk_1: line and the two companies that are gonna get a pilot that ah you don't respect that you guys are in announcing who knows ah actual clients are but didn't give us a little bit of a description on maybe like the scale of the company third get sorted and he characteristic
spk_16: i'm specific go on
spk_3: ah it's absolutely pad two parts that story that they're to customers one ah were unable to give you the exact name we can tell you with them if they if a company that you had called the fortune five hundred are very large business that's for that ah that leveraging the solution their an existing customer chose that too
spk_5: i'll be one of our vanguard accolade one customers and ah really leveraging it and maybe a little bit more common than we previously provided leveraging and not just for all the capability that we talked about the leveraging ended up at at it's core as a part of an initiative within their business to address healthcare and equity ah and that's something really exciting brought with idea that are that are solutions can be at the at the that the pointy end of the fear for a company that has a corporate initiative around in equity and said addressing an equity and healthcare equity being right of the fall of that for them was one of the drivers of them embrace the act like one the second costs where i can actually named that
spk_1: a because they began talking about it publicly company called metaphors and so it they are smaller company with with several thousand employees are smaller than the sub sea dispel the five hundred not a small company but they are what we try to deal with the vanguard customers with pick one large customer and pick one midsize customer so that we could demonstrate this value in with the with a different needs of past president sizes ah what we're hearing in terms of interest from our customer base though is across the book and so our with the mid market enterprise and strategic i was raised their handler more about where we are thank you very much sense very helpful thanks thank you and expressing cousin geoff garin piper family allies open
spk_16: where can i pm thanks for taking the questions that i wanna about your your channel partners so to parse the first as just if you could give any color on the contribution the selling susan from town partners them second part is looking forward or channel partners excited about offering actually one and and i played and and welcome educate asian is needs to really aren't those partners for success nap
spk_22: are taking the question jack agree to thought i'd we are seeing continued fractions of when you talk about partners the arm or most varieties of parties that we work with the certainly work with plans who are offering are solutions to their customers are we also work with brokers and consult with not who are who are recommending us
spk_11: to their clients and or are working with a educate their teams on the value proposition that we deliver on our i'll punch out continues to strengthen we continue to keep our value in working with plans and to accentuate or ah or drive value to their solutions by leveraging are engagement and clinical capabilities i and we'd expect that that part of our business to continue to grow over time i i think that the core your question the others are those health plans or other partners binding value an accolade one and an accolade care and while we can tell you the a definitively is the need
spk_5: from our partner community to find virtual forward healthcare solutions that address things like access affordability of care alongside longitudinal care jury is very very real and so ah absolutely the interest in that part or channel has expanded our in pa because we've got a brand value proposition that we can deliver to them with expert medical opinion and berkshire primary care and mental health as or conversations and could not have with many of our our plan partners and other partners in young just six or nine months ago ah those conversations have opened up randy paths crossed that guy you and we're excited about with it might mildly
spk_23: acts of that that house and some of my thought father's switch gears up a little bit that the oh it's it's dinner another interesting year in terms of how care you they should suggest just curious where disability his tours as she the performance fees will related to that the calendar twenty one pm
spk_24: create that will impact year your fiscal fourth quarter at this point in the year and and how that's been factored into the guidance
spk_3: girl her job
spk_16: quick reminder and from for everybody that for a total health benefits customers that point of and call it ten percent or so the ppm theater in savings they think another twenty percent on performance be guarantees performance be a good me operational rpgs or things like clinical outcomes
spk_2: engage mermaids customer satisfaction were typically measuring those as the or goes along and for saving you measure that typically on a calendar year contract year i typically goes a january to december i would say that galaxy with we've got about six months or so they to here halfway through the air claimed they lag by a couple months a
spk_16: looking at six or seven months of data on of what we're doing in our guide and they're just is factoring in i to gonna really pragmatic approach again to the ended the year knowingly that a track record of earning ninety five percent of the whole ppm fee typically and i spend a lot of and environment and mentor
spk_1: and in a prepared remarks it's a it's bit unusual with health care spending on on right now in the world so we are going to just back to that in an email with with a bit of you know measured approach to the year and and again some our approach to what we would have taken at a time last year that thing for him thank you i love question council lie in the donnelly to be a lot of open
spk_2: i think you're taking my questions rush me first one for you have obviously you're you're you're servicing a lot of inbound demand right now for the new products in the rebrand but given how much the portfolio of offerings has evolved over the past twelve months as you start to think about next year and proactively going out to market in it
spk_1: he passed that inbound demand service and how are you educating or or or
spk_2: structuring the sales organization in terms of what they'll be leading with with this you know greatly expanded i use cases as a great question right thank god thank you for being aired yet
spk_1: ah first of all i think that that that the for the first important element for ours was an acknowledgement that by virtue of the expanded capabilities of the company was imperative that we redefine not yet who we are but what we think the industry demanding in there for a while responding to that person
spk_2: like healthcare and the idea of first like healthcare is ah we believe all of our solutions fall into that got fall into that umbrella that umbrella of human forward whether you're buying our apathy solutions are expert medical opinion solutions are are care solution ah you're going to find that we're going to deliver your human relationship or going a power
spk_16: it with data so we're going to be very smart about leveraging that the underpinning data asset that we've been building for the last twelve years the guide our action and all of it's can be built around this value measurable orientation everything we do whether that performance guaranteed incentive or be that read put off in alignment with the custom
spk_2: my which at all three of those things we think i'm fairly unique of the industry itself all of our solution are built around that idea the reason that important ryan as a you'd have we've been talking about this since ah since we've we've we've been public our mission is to meet the customer where they want to be met an acknowledgement that some customers are looking at access to carry issues or looking at our primary care deserts and thinking of this is the problem i have to soften for those customers are teams are going to be really smart about this thing accolade care the right solution for them others are are looking at solving other crops around more que conditions cancer treatment that are those by because we're looking at expert medical opinion aw at a port the of the we believe in the abbot if your navigation space for life and years and and we expect to continue to participate in all the rfp than all the of i wish that are happening in that space and really in many respects to be creating those and so of we're not fundamentally restructuring the sales organization in any way shape or form rhine we've got a failed
spk_25: theme of focused on plans for got a team focused but mid market on the enterprise segment in a strategic segment ah what we've done is really given them more tools in their bag so that as they understand the customers
spk_26: which is what they're really trained and do discover what the customers pain points are that they have now i am in in argue the biggest bag or the largest the the greatest breath of potential off offerings for those customers to solve their problems with that orientation around those are three value i thought
spk_27: very helpful and then just how quick fall apart the health reveal our our acquisition the technology their looks pretty unique undifferentiated would just have to know a little bit more about how that are functionality can expand upon what you've got with the true health engine already thanks
spk_3: yeah that that that that now the question where this is not going anywhere where super excited about it i'm not a deluded view or at least in our nordic that actually capability right to the idea even all the data that we are travelling and inside and putting them right into our workflow for that are problem
spk_0: durkin can guide numbers on what chronically of them at home and up for them what albertville does what they figured out it really how to deliver a much deeper than one a pulled in by using not only claims they did in the data that pacman historically bad the author electronic health record data
spk_1: and the blood that to the a boy that was done on a road map and broadly really think that the the heated director on to be a lotta again bring a lot more that evident a monocle invite onto our position ah and also to the rats were calling certain on which we think line really well at birth my after the both i can around the editor
spk_2: exxon thanks again
spk_1: try thank you again later look at the question of his backside and one and the entered the time we do after plays minutes is up the one question our next question cause is that they gave us the the like you're an about them
spk_2: funky protect my question guys i want to continue on an earlier and thought if we want of rathore the idea that care navigation is becoming table stakes as a bit more commonplace and general assembly better platform to have a care navigation play inside of it
spk_1: have you ever thought of taking advantage of that trend selling influence of your platform and getting a new revenue stream as a matter dish like service infrastructure by or such as to let at
spk_3: up the first got that the great talking again thanks for being here i i see when we talk about navigation and item we have we put an umbrella term on it on a of set of people believe it's imperative that we can a break that down and speak with as capabilities are a number of companies yes are out there speaking about the
spk_4: i that they deliver navigation today we would say the number of companies who have delivered have have accumulated the claims are acts ensure that the nation and our interaction data as well as clinical data as you would medical electronic medical record data or the underpinning of the plan on the be able to navigate through benefit navigate through play and got people to the back into that position etc be all the thing that would be your for the lot funnier it's still a very very very small number of companies a lot of people use the word navigation not a lot of people actually delivered allegation that by that that would be point of a one point number two would be ah i think what yeah i think you're absolutely on
spk_1: on to an idea that is is that speaks to the point i can do is ryan's question earlier ah we've architect that articulation around the idea of delivering capability that we we both capability into offering are those capabilities are available to our partners now are cool and we partner with around those capabilities the way we've always thought about it seventy is ah will partner with people who share mission ah who are aligned in our vision around improving health care for the people that they serve ah and who are aligned in there and in our believe in the idea for my partner and so i and i don't know what that means in terms of potential partnerships with navigation vendors down the road odd but i can't i can tell you we believe that our capabilities architecture is unique in the industry and give up give this an opportunity to be a really productive partner for many
spk_4: thank you and expressing thousand david larson a bt idealized open hi congratulations on a quarter with regards to accolade one and accolade care it seems to me like even old the client he have might be chart a slightly higher p p m reach the overall cost of health care for them and actually to climb more given that you have a more comprehensive solution to city
spk_2: thought a color around and can you put any numbers around i like i become our percent savings that they might be able to realize
spk_5: five days to the questionnaire than an absolutely we believe ah and up cord to the value proposition of accolade one that were take you to our bangor cause going and the customers beyond it is the idea that when we're together all of these incremental value things above and beyond the added to be solutions that both of those custom had first muslim the path that will improve clinical outcomes and that we will continue to lower costs above and beyond where we are today
spk_3: ah in the amount of caught that will improve on a on a year of a your bases are based on those incremental services you're going to vary by the population that would serve and them and the makeup of that population just as it does of your to buy it for navigation service today and so it might be too early for us to speak to those incremental saving ah what we can say is we feel so carpet
spk_6: those incremental saving that as he mentioned earlier a revenue model create the opportunity to take a little more read while adding upside to the up to the opportunity that we think is really material and could be a really high value high margin revenue agreement just one more quicklime with adult a variant it sounds to me like being back there was with second md some delays and elective procedures to confirm that second mb revenue still grew by at least thirty percent year over year in the corner and that there wasn't really any other drag that you saw from the delta variant terms of like the cell cycle
spk_1: and then it also sounds to me what adult a variant will become an easier comp or a tailwind in fiscal twenty three this any thought there would be helpful thank you hey david nice the top few yeah i can confirm with that with second them the year over year growth rate is that isn't that just north of thirty percent range yellow on on cell cycle were going to come back you are in at the end of next quarter and and will give you a sense of how that's coming through but but for second md for sure that thirty percent year over year growth with a cheap thank you let's lesson thousand hours lot of a barrister lot of them
spk_3: i think for kicking my question on so just one on accolade one on because it's a value obese care model that's quite new in the employers benefits market i'm wondering should we expect slightly a longer cell cycle i'm also curious how much education needs to be done so that employers are comfortable
spk_8: what the value base model and also a higher upfront ppm fee
spk_5: yeah think it's a great question i i i appreciate deputy the and the more but i played one we think about i play one more thing that i think have been mentioned as our earlier in his remark that i think it's imperative that we point out or will we talk about of i have a model well we're not talking about year evade as a medicare advantage of captivated risk
spk_2: model like some other companies are are out in the industry talking about in back on self insured employer have rarely been given an opportunity to participate in a model that will warrant clinical outcomes warrant cost reduction while improving employee satisfaction when we think about of of this value base model what were essentially got going to the
spk_3: customer with is a brand new set of capabilities are a brand new offering of they haven't been approached with in the past that speaks to all of those factors the reality of self insured employers today are very rarely being approached with numbers associated with with ide clinical improvement with numbers if they say will cause for it
spk_1: option and measurable value while at the same time the british satisfaction of employs that said i mentioned in i pray my prepared remarks that you're absolutely right thought we think that the the preponderance of the interest in accolade one is really going to be in our existing customer base customers who have a good advantage of navigation expert medical opinion or
spk_3: accolades care in the path and who are built off of that frosty relationship and the dataset that drives the measure ability of the healthcare we've delivered for them are world would be very interested in upgrading are moving forward to a broader awkward one felicia
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