The Ledger
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Nusimow: DrChrono is at approximately $23M in ARR
“No, we're probably at around a twenty three million dollar ARR rate right now.”
DrChrono Takes a Cut of Clinic Insurance Collections for RCM
“Our upsell where we generate the revenue is by taking a percentage of the revenue that we help the doctor and clinic earn from the insurance company.”
Nusimow: DrChrono software licenses average roughly $6,000 per provider annually
“For the software side an average software per provider license would be roughly around 6000 dollars a year.”
Nusimow: DrChrono RCM generates one-third of revenue from 10% of customers
“The RCM business, which is about a third of our revenue and has been growing really fast, that's only about 10% of our customer base.”
Nusimow: DrChrono Ended 2018 at Around $15M ARR With 50% Growth
“We've been growing at about 50% year over year, so I believe we ended the year last year with about around fifteen million in ARR.”
Nusimow: DrChrono Added Around $2.5M in Debt to Supplement Equity
“I think we've used some venture debt along with our seed round and with our series A round. So that's something we're able to use to kind of supplement the, that equity financing, probably another two and a half million in debt as part of those rounds.”
Nusimow: Physicians bought 10% of initial 300,000 iPad pre-orders
“Way back in April, 2010 when the iPad first launched, there were about 300,000 pre-orders for the iPad. And it was limited to, like, two iPads per household or customer. And about 10% of those, 30,000 of those were sold to physicians.”
Nusimow: Under 3% of US doctors used EMRs in 2009-2010
“You know, in circa 2009, 2010, less than three percent of doctors in the US were using any kind of EMR.”
Nusimow: US Meaningful Use program paid $30B for EHR adoption
“And there was a set of government incentives called Meaningful Use that paid out thirty billion dollars over the last 10 years to really just giving incentives to doctors to start using EHR tech like Dr. Crono and others”
Nusimow: Medicare estimates 85% of providers use EHR technology
“Medicare puts that somewhere around 85% of providers are using this tech.”
Nusimow: DrChrono achieved negative net churn in eight of nine quarters
“For the last I think it's been around eight of the last nine quarters, we've had a negative net churn, so we've been able to expand our user base beyond what we've churned.”
Nusimow: Involuntary churn accounts for 60% of DrChrono's gross churn
“You know, for us about 60% of the gross churn that we do have is what I'd call involuntary churn which is, you know, a practice shutting down, providers leaving a practice.”
Nusimow: Small-practice ambulatory providers dropped from over 60% to 40%
“When we started the company 10 years ago, probably 60 somewhere between, you know, more than 60% of providers were in these smaller one to five provider groups. And today or at least in 2017, I've seen data that, you know, that's more of a share of about 40% o…”