NAPLES, Fla., May 16, 2018 (GLOBE NEWSWIRE) -- HealthLynked Corp. (OTCQB:HLYK), late yesterday reported its results for the first quarter 2018.
First Quarter 2018 Compared to First Quarter 2017 Highlights:
- 36% increase in revenue in Q1’18 compared to Q1‘17
- $63,182 improvement in operating income in our health services division.
- $11,358 operating income in Q1’18
- Patient Appointments increased 18% from 3,482 in Q1‘17 to 4,103 in Q1‘18
- Time of Service collections increased 67% from $108,263 in Q1’17 to $180,794 in Q1‘18
First Quarter 2018 compared to Fourth Quarter 2017 Highlights:
- 2.5% increase in revenue $645,639 compared to $629,940 in Q4‘17
- Patient Appointments increased 7% from 3,825 in Q4 ‘17 to 4,103 in Q1 ‘18
- Time of Service collections increased 54% from $116,775 in Q4 ‘17 to $180,794 in Q1 ‘18
Revenues for the first quarter of 2018 were $645,639, an increase of 36% over the same period in 2017, mainly caused by an increase in patient appointments of 18% along with an increase in time of service collections of 67%.
Our health services division realized operating income of $11,358 in the first quarter of 2018, compared to an operating loss of $51,824 in the first quarter of 2017, an improvement of $63,182.
Compared to the fourth quarter 2017, first quarter 2018 revenue was $645,639, an increase of 2.5% over fourth quarter 2017 revenue of $629,940.
Patient appointments increased 7% compared to the fourth quarter and time of service collections increased 54%.
Dr. Michael Dent, the Company's Chairman and CEO, stated, "We continue to be very pleased with the results of our health services division, with record revenue and significant quarterly growth reported in the first quarter based upon a significant increase in patient appointments during the period compared to the same period last year, improvement in time of service collections and for the second straight quarter generating operating income. We continue to deploy the HealthLynked suite of services at our health services division and we expect these results to continue through the rest of 2018."
About HealthLynked Corp.
HealthLynked Corp. provides a solution for both patient members and healthcare providers to improve healthcare through the efficient exchange of medical information. The HealthLynked Network is a cloud-based platform that allows members to connect with their healthcare providers and take control of their medical information. Members enter their medical information, including medications, allergies, past surgeries and personal health records, in one convenient online secure location, free of charge.
Participating healthcare providers can connect with their current and future patients. The benefits to our providers include the ability to utilize the HealthLynked marketing tools to connect with their active and inactive patients to improve patient retention, access more accurate and current patient information, provide more efficient online scheduling, and to fill last minute cancelations using our “real time appointment scheduling” mobile application. Healthcare providers pay a monthly fee to access these HealthLynked services.
For additional information about HealthLynked Corp. visit www.healthlynked.com
Forward Looking Statements
Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements. These forward looking statements involve a number of risks and uncertainties that could cause actual future results to differ materially from those anticipated in the forward looking statements, Actual results could differ materially from such statements expressed or implied herein. Factors that might cause such a difference include, among others, the company's ability to gain new customers, offer new types of services, and otherwise implement its business plan. As a result, this press release should be read in conjunction with the company's filings with the SEC.
Company Contact:
George O’Leary
Chief Financial Officer
goleary@healthlynked.com
Investor Relations contact:
Jim Hock
Hanover International Inc.
Investor Relations
jhock@hanoverinternationalinc.com