FBT charges its clients for the
initial configuration and data migration is a one-time phased engagement that
is billed based on deliverables. Average total contract value per source
dataset is $120K-150K. These contracts are delivered over a period of 3-9
months and are billed in, generally, 4-5 installments.
After the initial contract is
delivered the billing switches to periodic recurring revenue charged for
ongoing use of CareConnext® modules. Some of them are billed based on volume of
use (e.g. number of reports generated) and some as periodic license fees. On
average, CareConnext® generates $10K-$120K per year per offline server used to
store migrated data.
As CareConnext® is deployed in
financial services technology sector it will follow competitive practices in
establishing the relevant revenue models. However, it will continue adaption of
its technology and productize it in such manner as to enable maximum recurring
revenues and longest client lifecycles.
Engagements with FBT clients for the
use of CareConnext® offerings are contracted along the lifecycle of the
deployment timeline as below:
services agreement (issued by client)
milestones and corresponding invoices (each invoice is recognized in AR)
4.Recurring license agreement
(recognized in CR)
To elaborate on above – the client
generally executes an MSA that can cover variety of work orders and license
contracts under its terms. FBT then proceeds to execute engagement contract and
work order with a specific department or a facility within client’s
organization that covers the initial deployment of CareConnext® technology. That engagement is billed incrementally based
on the progress of the delivery of the engagement along the scope of its milestones.
After the service technology is deployed
and the source data is processed, FBT charges its clients for ongoing use of
variety of custom CareConnext® applications designed to maximize the utility of
integration. These recurring contracts are generally structured using a
periodic license fee and some form of volume-based fee component.
Product Value Highlights
·Access to any volume of historical patient records on
any system within 45 days.
·No service disruptions.
·On-demand automated delivery of only needed records.
·Savings on hardware resources and redundant systems.
·Virtualized data integration with any new EHR or service
·Operational efficiencies related to management of new
·Customized reporting in alignment with operational
·Universal event-based report generation and
distribution via any medium.
·International patient record access.
·Data consolidation and externalization with extensive
claim analytical capabilities.
·Fully-automated audit report
·Certified action timestamps at key-stroke
·Remote access interface with
closed-loop and “each-end” authentication protocol.
·Global record identification in any
·Single-click policy implementation
and compliance management reporting.