WILMINGTON, Del.--(BUSINESS WIRE)--SPRY Therapeutics (“SPRY”), creator of rehab therapy’s first fully integrated AI-powered EMR, today announced that it has achieved a 153% year-over-year increase in annual recurring revenue (ARR), further solidifying the company’s position as one of the fastest-growing innovators in practice and clinical management software over the past 12 months.
Revenue Growth Spurred by New Customer Acquisition and Market Expansion
Similarly, SPRY recorded a 91% increase in clinic locations served and a 136% increase in clinical providers supported. The increases highlight SPRY’s addition of more multispecialty, multilocation practices to its growing roster of customers as it moves into new market segments.
“Our team is pleased to see the significant revenue growth, especially given the realities of the SaaS industry and capital markets over the past 18 months,” remarked Brij Bhuptani, SPRY co-founder and chief executive officer. “More importantly, we’re proud to see the rapidly increasing adoption of the SPRY platform among rehab therapists as we continue to grow our share of adjacent specialties, larger clinics, and new use cases.”
A Pipeline of Solutions to Make Rehab Businesses Efficient, Profitable and Future-Proof
Brij continued, “As technologists, we constantly pursue applications of new technologies, like AI, that can directly impact financial and clinical outcomes for SPRY users, whether a single-provider clinic or a 20-provider, multilocation practice.” These include a host of new product features rolled out over the past 12 months, among them:
- SPRY Ally, a fully integrated personal assistant for running rehab therapy clinics. At the heart of the AI-powered collection of tools is SPRY Scribe, a unique “text-to-SOAP” app that allows therapists to create compliant SOAP notes in as little as two minutes. Additional tools automate routine tasks, like verifying insurance and securing authorizations, with unprecedented speed, accuracy and security.
- SPRY RTM, a tool aided by computer vision to allow for personalized remote patient monitoring through assessments that identify patient needs and monitoring that optimizes the plan of care in real time. The tool’s extensive library of home exercises keeps patients actively engaged in their plan of care while accelerating recovery.
- SPRY Billing, a comprehensive, fully integrated billing solution for the SPRY platform. The SPRY billing dashboard is the nerve center of the system, centralizing billing operations and financial insights for in-house billers. With SPRY RCM, a professional services layer is added to the dashboard, providing a truly turnkey solution to revenue operations for those practices wishing to secure outside help.
Additionally, this quarter SPRY will launch an AI-assisted e-fax to further streamline front office functions and an on-site kiosk tool to help ease the patient experience.
Physical Therapy and Medical Billing Industries Recognize SPRY Products and Services
This month, SPRY made a remarkable debut in the G2 Summer 2024 Reports, securing nine badges across Physical Therapy and Medical Billing categories. The company surged to No. 4, a significant achievement considering it was not listed among the 85 companies just one year ago. SPRY’s success is attributed to its focus on developing time-saving, cost-effective tools that increase revenue for users. The company earned the No. 1 spot in two categories. To view the full list of SPRY reviews on G2, visit www.g2.com/products/spry-spry/reviews.
“In two years, SPRY has established itself as a front-runner,” added Brij. “The recognition is gratifying but also unsurprising. Every week, more and more customers tell us of their revenue wins and the positive ROI they experience by using SPRY for billing. We’re pleased to be a partner in their success.”
For more information about SPRY, visit www.sprypt.com.
About SPRY Therapeutics, Inc.
SPRY Therapeutics, Inc. is the inventor of SPRY EMR, an integrated practice management solution that enables rehab therapy professionals to succeed in practice and in business — from the front desk to clinical operations to the back office. Built on a future-focused architecture, the SPRY platform adapts to the changing clinical and business needs of physical therapists, occupational therapists, and speech language pathologists. Since 2021, SPRY has earned a reputation for flexible workflow customizations, short migration times, and high-velocity claims processing — in one single platform, at one simple price. For more information, visit www.sprypt.com, and follow the company on LinkedIn.
SPRY EMR, SPRY Ally, SPRY Scribe, SPRY RTM and SPRY Billing are trademarks of SPRY Therapeutics, Inc. All other brand names are trademarks or registered trademarks of their respective companies.
Tags: SPRY Therapeutics, SPRY EMR, rehab therapy, physical therapy, physical therapists, occupational therapists, speech language pathologists, electronic medical record, EMR, claims processing, medical billing, SOAP note, patient monitoring, artificial intelligence, AI, insurance eligibility
