Doctor Care Anywhere, a company founded in 2013 that specialises in digital consultations and is listed on the Australian Securities Exchange, has announced Q1 2021 revenue of £4.4 million, up 242.4% from the same period in 2020.
During Q1 of 2021, the company supported 90,547 online consultations, the highest total in a quarter in its history.
In an update to shareholders the company highlighted an underlying gross profit margin for Q1 2021 of 43.2%, and said it expects to see growth from measures associated with easing lockdown restrictions, and as part of supporting integration between primary and secondary care.
The company noted: “The pandemic has driven a level of acceptance of telehealth services in the past 12 months that might previously have taken five years.”
Commenting on the results, Dr Bayju Thakar, Founder and CEO of Doctor Care Anywhere, said: “Following a very positive start to the year, our outlook for 2021 remains strong.
“The increasing demands on traditional health systems combined with national lockdowns, which are now easing in the UK, have accelerated the trend toward adoption and acceptance of telehealth services in the past twelve months, by both patients and clinicians, that might previously have taken five years. Telemedicine’s role in meeting patients’ needs has been made unarguable by the events of the last 12 months.
“Our business is performing strongly, which reflects both the short and long-term changes driving consumer demand for telehealth. As we look beyond COVID lockdowns and as more of the UK is vaccinated, we remain confident that our forecast of year-on-year revenue growth of at least 100% above 2020 is achievable, with growth in telehealth lives, activations and consultations, together with our ability to grow areas of the business having been constrained by the lockdowns.”
The company said it expects additional growth in its virtual consultations “with the health system still under pressure and longer than usual waiting times for GP appointments in some parts of the country.”
To view the trading update, please click here >
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