Aware Health is a digital health platform that facilitates direct access to physical therapy, aiming to decrease pain and improve job function for patients. The company leverages technology to streamline the process of connecting patients with physical therapists, potentially reducing healthcare costs and improving outcomes.

Heidi Ojha

Jim Jenkins

Aware Health

Aware Health partners with self-insured employers to deliver cost-effective, research-based orthopedic care to employees that promotes awareness, healing, and wellbeing. Orthopedic conditions are one of the top medical costs for US employers.  Aware was created to help companies significantly cut costs while getting employees back to work faster by successfully triaging, diagnosing, and optimizing care delivery. Aware uses cutting-edge research to inform clinical decisions, resulting in lower utilization rates for the most costly diagnostics and treatments. 

Detailed in a published study in PM&R, Aware has had outstanding results with low healthcare utilization rates over 12 months for employees enrolled in its program: <8% imaging, <2% surgery, <9%required specialty care, <2% opioid use, <5% prescription medication use, and <1% litigation rate.

We believe in listening generously, equipping clients with knowledge, and developing solid relationships. This approach likely contributed to the <1% litigation rate.

Our vision is to partner with employers to create a healthy and empowered workforce that is aware of the most modern care and preventive measures for healing orthopedic conditions. 

Techstars

Impulsum Ventures

Check out a NEW 3x3x3 Challenge on Aware Health at BenefitsAlly.com!  Thanks to Jamie Kirmess for answering three questions, using just three slides, and doing it all in under three minutes.

More than one-third of Americans received orthopedic care in 2021, making it the largest expenditure category for beneficiaries of employer-based insurance plans. 

One reason costs are high is due to the lack of standards in making an accurate diagnosis. Depending on which provider you see, they will recommend a different treatment pathway. 

Two examples: 

If you see a PCP, they will often order an image even though imaging is only indicated for a handful of cases. 

Roughly half of patients receive surgery for low back pain within three months, where guidelines only recommend that speed for emergencies. 

Care that deviates from evidence-based clinical guidelines is harmful to patients because it increases their risk and costs them more money. 

It also costs self-funded employers more money that could be reinvested in more meaningful ways.

Our clinical rules standardize the diagnosis in orthopedic care, allowing our providers to get to the root cause of pain without imaging and prevent inappropriate and aggressive treatments. 

97% of patients who intend to get a surgery when starting our program don't end up getting one. 

Thanks to McKinsey's excellent article on orthopedic pathways for providing the research and stats for this post. 

Curious about what we do, why we do it, and how it's valuable to our customers? Check out this video. 

Metric
Company Name	Aware Health
Symbol
MSH ID	IO:AWAREHEALTH
Market	PRIVATE
Sector	Healthcare & Health Services
Industry	Healthcare Technology
Country	US
Stage
Employee Count	13
Website	awarehealth.io
LinkedIn	awareorthopedichealth
Founders

Metric
Market Cap
Enterprise Value
Monthly Web Traffic
Web Traffic Growth
Valuation
Raised Capital

Metric
Revenue
Revenue (LTM)
Revenue (NTM)
Gross Profit
EBITDA
Operating Income
Net Income
EPS
Diluted EPS
Revenue 2022
Revenue 2023
Revenue 2024
Revenue 2025
Revenue 2026

Metric
Revenue Growth (LTM)
Revenue Growth (NTM)
Gross Profit Growth (LTM)
EBITDA Growth (LTM)
Net Income Growth (LTM)
14-Day Growth Score
28-Day Growth Score
90-Day Growth Score
365-Day Growth Score

Metric
Gross Profit Margin
Operating Profit Margin
EBITDA Margin
Net Profit Margin
Return on Equity
Return on Assets
Return on Capital Employed

IO:AWAREHEALTH

Aware Health

Company Overview

Market Metrics

Financial Performance

Growth Metrics

Profitability Ratios

Valuation Multiples

Operational Metrics

Cash Flow Metrics

Balance Sheet Metrics

Efficiency Metrics

Metric
P/E Ratio
P/B Ratio
Revenue Multiple (LTM)
Revenue Multiple (NTM)
EBITDA Multiple (LTM)
EBITDA Multiple (NTM)
Price to Sales Ratio
EV Multiple

Metric
Days Sales Outstanding
Days Payables Outstanding
Days Inventory Outstanding
Operating Cycle
Cash Conversion Cycle
Asset Turnover

Metric
Operating Cash Flow
Free Cash Flow
Cash Flow to Debt
Operating Cash Flow/Sales
Free Cash Flow Yield

Metric
Cash & Equivalents
Accounts Receivable
Inventory
Goodwill
Debt to Capitalization
Debt to Assets
Current Ratio
Quick Ratio

Metric
Rule of 40 (LTM)
Rule of 40 (NTM)
Stock Comp to Revenue
R&D to Revenue
SG&A to Revenue