ProVision selects 1stAvailable to service optical stores

Published at Nov 23, 2016, in Technology

Online health portal, 1st Available Limited (ASX:1ST), has penetrated the optical market through an agreement with ProVision, Australia’s largest independent network of optometrists with 440 doctors in total.

ProVision has chosen 1ST to manage its online optical appointment bookings following a successful pilot of 1ST’s platform that was tested on 20 optical practices beginning August 2016 and closed in November 2016.

ProVision provides independent optometrists with business support, enabling them to benefit from its collective resources and wholesale buying power.

Over 80 ProVision practices have already signed up to use 1ST’s services, including many businesses also using 1ST’s value-added product, easyRECALL.

The easyRECALL product replaces often mundane, labour intensive and costly phone calls, letters and basic SMS messages used in practices.

The automated digital service aims to improve patient re-booking, enabling them to book and appointment online in just three clicks of the mouse. The product also reduces practice administrative costs.

The agreement with ProVision will enable a rapid rollout of 1ST’s services, which will also enable 1ST to offer add-on services to independent optometrists in order to improve their business operationally.

With almost 3,000 optical stores throughout Australia providing optical services to around 50% of Australia’s population, 1ST is well placed following this latest deal to increase its coverage of the optical market.

However, this is still an early stage play and investors looking at this stock for their portfolio, should seek professional financial advice.

When Finfeed last wrote about 1ST, it had just delivered a strong first half performance results from a financial and operational perspective, while also forging some promising client relationships.

The company’s monthly recurring revenue represented year-on-year growth of more than 40% and monthly new consumer registrations had increased by 400% to more than 20,000 a month.

The ProVision deal should help expand its revenues and reach and help 1ST meet its objective of building Australia’s leading online health services community.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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