The number of monthly active patients (MAPs) on the Awell Platform.
A Monthly Active Patient (MAP) is a patient for whom our platform has orchestrated an activity in a given month. This means a patient is marked as active in that month if minimally 1 of the following 3 events happened for that patient:
Note that this doesn’t require an action performed by that patient. For example, it could be an action performed by our system or an action performed by a member of the care team.
<aside> ℹ️ The Monthly Active Patients dashboard can be found here (internal only).
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In an ideal world, our North Star Metric is all we look at and optimize for. In reality, it’s not as simple as that and we need a set of leading and lagging metrics to complement MAPs. It’s easy to track too many things, getting stuck in analysis paralysis and not gain any actionable insights. Therefore we focus on a core set of metrics we deem relevant to our business.
As we are a software-as-a-service platform, we track a couple of core Saas metrics. Many sources for typical Saas metrics exist, our metrics and the benchmarks mentioned are based on this article on how to scale a health tech business.
Beginning ARR + Expansion ARR - Churned ARR divided by Beginning ARR
We are building a compounding business and this metric is a core indicator how well we are doing that. It provides visibility into our ability to land and expand as well as retain customers.
Benchmark: 130% YoY
Our MRR (monthly recurring revenue) x 12
Benchmark: 200% YoY (not an absolute ARR number but ARR growth rate)