Fort Worth’s TimelyMD earns accolades for rapid growth and mobile technology
Corporate rewards programs take note of Fort Worth telehealth company TimelyMD.
Five years after its founding, the company that hosts students on 200 campuses is winning accolades that recognize everything from its rapid growth to its technology and work environment.
In March, TimelyMD was touted as the fastest growing private company in Dallas-Fort Worth when Inc. rolled out its regional rankings. He came seventh in the Southwest region, which includes companies from Texas, Oklahoma, New Mexico and Arizona.
TimelyMD has more than doubled its headcount to 140 employees since receiving a $60 million investment in January 2021 from private equity firm JMI.
Its annual recurring revenue totaled $26 million last year, up 1,200% from just under $2 million in 2019. The company attributes its financial performance to COVID-19, which is accelerating the acceptance of virtual visits to the doctor.
This month, Inc. also named TimelyMD to its Best Workplaces list. CEO Luke Hejl said TimelyMD plans to grow to 200 full-time employees by the end of this year, with more than 500 healthcare providers nationwide providing medical advice through its TimelyCare app.
“It’s hard to hold on to your [company] culture as you continue to grow,” said Hejl, who co-founded the company with fellow Abilene Christian University classmates Chris Clark and Alan Dennington. “We’ve been very intentional in how we do it and how we engage our team.”
To top off its streak of accolades, TimelyMD was recognized in this year’s MedTech Breakthrough Awards as Best Mobile Health Solution. Innovation is the main focus of the company, Hejl said.
About 70% of his telehealth visits are mental health-related, up from 10% before the pandemic, Hejl said. Its client colleges include smaller schools such as Paul Quinn College in Dallas as well as larger universities, such as Duke and Virginia.
The company uses a “team-based” approach to care, working to refer students to other TimelyMD providers or resources on campus when there is a need for medical or mental health care. additional.
“The demand for virtual care and mental health has really continued to increase due to this mental health crisis,” Hejl said.
Serving nearly a million college students also means adapting to their schedules. Hejl said 40% of visits are after normal school and work hours.
TimelyMD surveyed 1,000 college students planning to enter the workforce this year and found that 69% felt less prepared for employment due to pandemic-related mental health issues. They cited stress ranging from finding a job and supporting themselves financially to making friends at work.
“We always ask our students at the end of the visit what they would have done if they hadn’t had access to timely care. Sixty percent of students say they wouldn’t have done anything,” Hejl said. “If you play the results of doing nothing, there are a lot of things that could happen that don’t have a good result.”