Phreesia Inc (NYSE: PHR) is a healthcare technology company that provides an integrated software, payments, and patient engagement platform to healthcare organizations. It makes money through subscription and related services fees and payment solutions revenue charged to healthcare services clients, with 4,514 average healthcare services clients (AHSCs) generating $106,467 in total revenue per AHSC in FY2026 (fiscal year ended January 31, 2026). Founded in 2005 and headquartered in the United States, Phreesia completed its IPO in July 2019. The platform is embedded into provider workflows and covers the patient journey from scheduling and intake through payment and post-visit follow-up. In FY2026, the platform facilitated approximately 180 million patient visits, representing roughly one in six ambulatory patient visits in the United States. Phreesia also completed the acquisition of AccessOne Parent Holdings in FY2026, adding medical financing products through its AccessOne MedCard subsidiary.

Revenue model

Subscription and related services fees plus payment solutions revenue billed to healthcare services clients on a per-client basis. The AccessOne MedCard subsidiary generates revenue through medical financing products. Key metrics tracked are average AHSCs and total revenue per AHSC, which were 4,514 and $106,467 respectively in FY2026.

Products and services

Integrated software, payments, and patient engagement platform covering care discovery, scheduling, patient intake, payment processing, and post-visit follow-up. Payment solutions including processing of patient payments at point of care. AccessOne MedCard medical financing products for healthcare consumers. Call and SMS texting services for patient outreach.

Customers and end markets

Ambulatory practices, health systems, and hospitals (healthcare services clients). Life sciences companies, government entities, patient advocacy organizations, public interest organizations, and not-for-profit organizations. End market is U.S. healthcare delivery, with the platform supporting approximately one in six ambulatory patient visits in the United States in FY2026.

Value-chain role

Software and payments intermediary embedded directly into provider workflows, sitting between healthcare organizations and their patients. Handles administrative, financial, and engagement processes across the care continuum. Acts as subcontractor providing white-label services in some partner arrangements.

Geographic exposure

United States. AccessOne MedCard is licensed or registered to engage in consumer lending in multiple U.S. states.

Source: SEC 10-K, filed 2026-03-31

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