The Healing Touch: Weave (WEAV) Enhances DrChrono Integration for SMB Healthcare The Healing Touch: Weave (WEAV) Enhances DrChrono Integration for SMB Healthcare

Written By Michael Gary Scott

A symbiotic relationship WEAV is deepening its roots in the healthcare domain with the latest stride towards fortified integration alongside a prominent Electronic Health Record (EHR) provider, DrChrono, by EverHealth.

Initiated back in late 2020, this collaborative effort signifies a leap in optimizing operations for small and medium-sized healthcare enterprises. The revamped integration by Weave heralds a repertoire of potent features meticulously crafted to fine-tune workflow logistics and amplify patient interactions.

From automated data synchronization to personalized communication functionalities like Call Pop and Missed-call Text, Weave’s healthcare arm empowers providers in delivering a seamless, tailored service to their patient clientele.

Tools such as Email Marketing, Digital Forms, Online Scheduling, and integrated Payment solutions further augment operational efficiency and expedite the enhancement of patient gratification.

A healing portfolio driving growth

Weave’s unswerving commitment to broadening its portfolio, with a distinct focus on delivering significant perks to healthcare patrons, has been nothing short of commendable.

In 2023, Weave witnessed the addition of over 450 new customer locations, showcasing a robust demand for its specialized software solutions tailored for small and medium-sized healthcare practices, propelling a surge in its consumer base.

The fourth quarter of 2023 witnessed Weave’s introduction of ACH Debit and Payment Plan, aimed at fortifying transaction security for patients, offering cost-effective avenues for healthcare providers while facilitating flexible payment solutions via recurrent monthly schedules.

With a recent integration with Athenahealth, Weave bolsters healthcare providers’ managerial capabilities with automation and optimization features such as automatic data sync, missed call alerts, call notifications, birthday greetings, and email marketing.

Introducing Payment Plans to its suite in February, Weave streamlined the payment process for healthcare practices, enabling automated monthly billing for patients, simplifying invoicing tasks, and reducing manual labor.

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Weave harvested robust revenue growth in the final quarter of 2023, raking in $45.7 million, marking an impressive 21.2% surge year-over-year. This uptick was underpinned by sustained high demand for its healthcare platform and a progressive expansion of its customer base.

Projections for the first quarter of 2024 have Weave eyeing revenues within the range of $45.2 to $46.2 million. The Zacks Consensus Estimate for Q1 2024 revenues stands at $45.89 million, reflecting a 15.98% year-over-year upswing.

The Zacks Consensus Estimate for loss remains stagnant at 2 cents per share over the past month.

Zacks Rank & Potential Stock Movers

In the current scenario, Weave proudly boasts a Zacks Rank #2 (Buy).

Comparing year-to-date performance, Weave has returned 1.7%, trailing behind the impressive 13.6% elevation in the Zacks Computer & Technology sector.

Some high-flying stocks in the wide-ranging technology space include Bill Holdings BILL, Bentley Systems BSY, and NVIDIA NVDA, each flaunting a coveted Zacks Rank #1 (Strong Buy). Dive into the complete Zacks #1 Rank stock list here.

Bill Holdings has seen a 23.1% slump year-to-date, yet boasts a projected long-term earnings growth rate of 23.64%.

Bentley Systems has faced a 5.5% dip in the year-to-date period, but holds a long-term earnings growth rate projection of 12%.

Conversely, NVIDIA shares have soared by an impressive 79.6% since the commencement of the year. The company’s long-term earnings growth rate is currently estimated at a substantial 30.93%.