1st Group signs lucrative new deal with GP network SmartClinics
Special Report: Australian online health, media and technology company 1st Group has inked a deal with fast-growing GP clinic network SmartClinics in a move it hopes will fast track its revenue potential.
1st Group (ASX:1ST) supplies integrated technology platforms that help health, medical and vet practices improve the patient/customer healthcare journey by facilitating appointment bookings, check-ins, and feedback as well as customer engagement and loyalty.
The new one-year deal will see 1st Group provide a range of tech solutions to SmartClinics to help the network digitise the patient experience, drive practice efficiency and improve patient health outcomes.
SmartClinics is a network of 34 GP medical centres.
Primarily based in Queensland, SmartClinics has recently expanded to Tasmania, with locations offering comprehensive family health services as well as same-day, late night and weekend appointments.
1st Group has a range of technologies it is marketing to the health sector, four of which will be provided to SmartClinics – Online Appointments, EasyFeedback, EasyRecalls and 1st Insights Business Intelligence.
Online Appointments integrates with practices’ current software and allows patients and clinics to book and manage appointments 24/7 from any device.
EasyRecalls is a customer retention solution that automates and streamlines patient appointment reminders.
EasyFeedback gives clinics an intuitive, non-invasive way of obtaining a range of feedback from patients, further improving customer service and patient loyalty.
And the 1st Insights solution provides dashboards for realtime practice performance reporting and analysis, which is especially powerful for practice groups.
Growing revenue potential
The deal comes off the back of a strong forecast for Q2, with accelerated growth in annualised contract value predicted.
Marketing manager at SmartClinics Sarita Fruk was effusive in her praise for 1st Group, which was selected from a competitive tender process.
“1st Group is different. The team took the time to intimately understand our business needs and worked with us to define a solution that would deliver great outcomes for our patients and business, recognising the competitive world in which we operate.”
“This really sets them apart from other ‘tech’ players.”
1st Group will receive monthly recurring subscription fees, as well as usage and setup fees under the deal
CEO Klaus Bartosch also pointed out that average revenue per site under the contract is over four times 1st Group’s average revenue per site, reflecting a strong validation of the technology.
“We were chosen because we think differently about digital patient engagement and how to strengthen patients’ relationships with their doctors. Customers appreciate our focus on service, data privacy and quality products.”
“1ST is seeing a growing trend of customers selecting its solutions due to the company’s focus on the patient/doctor relationship, data privacy, innovation and improved patient healthcare outcomes.”
1st Group is a Stockhead advertiser.