us. this outlook all then today's discuss succession leadership and for then to business our announced reviewing the our turn Starting detail. to morning. I'd Atif start including Thanks, plan and by QX results I'll Lee strategic more and the financials you like made progress thank by we on new technology we call and additional our cover comments, customers. in with onboarding to for Cloudmed, QX followed roadmap, over priorities, advancing Rachel results, call integrating joining
which long-term and growth on keep of All profitability us our trajectory.
fell our expectations for main of three reasons. results However, our short
impact Two largest incentive in-turn performance impacted are fees. EBITDA We affecting QX adjusted which an key was incentive payer times, tied the lower revenue to. that fee First, reimbursement and metrics fees are factors to experienced our elongation in revenue. turn-around several incentive
provider increasing are detailed a and payers clinical initiated a payers. operating our times, respond with these plan the following: review expanding follow-up, standards increase marked engaging have via including customers We our to turnaround ensure Cloudmed our timely to capacity requests from to accounts to frequency of via reduce manner, receivable in in for handled
continued into currently times due volatility KPI confident achieve While in partner anticipate we turnaround we customers in performance XXXX. we longer our resulting operating unique These which expected goals. XXXX. taking us is improve, in lower have where that are revenue on customers commenced fee onboarding metrics will our performance we was to complexities, expected to at also two Incentive payer impact than
line phase. state remediation both the in earnings these potential Most are importantly, to our long-term targets plans from of these remains have customers performance We customers have implemented financial and steady unchanged. sites our when returning of
that expected, emergency than department Second, weaker was the due space. to lower fees primarily physician consolidation were in net operating us to unfavorable volumes and
with acquisition which is year-over-year the organization. via department modular one the underpinning and revenue million strategic RX's and of the our aggregator Cloudmed’s financial to our to reminder, customers, ability commercial solutions allowance XXX.X growth by for the increased profit growth. directly large emergency facing EBITDA of for X.X challenges well a key we in As the Third, in adjusted solutions growth Cloudmed strong the Revenue Cloudmed impacted one losses flat quarter. of million world-class accelerate [ph] drivers performed credit from legacy was [diversity RX's account rationale for year-over-year modular] for quarter,
on fully accountability significant and growth modules, we're indications over made progress number time. services active of the IDNs large consolidated launching commercial have [ph], channel. feedback legacy the physician RX a excited these potential modular and core being for within have with combined preparing pay] and are activity offerings, via Cloudmed about in teams and to including momentum customer We the this of Based Cloudmed's unlock discussions. the the from seeing advisory we're progress offerings positive Early [entry encouraging made
RX at me provide customer XXX transitioning our employees schedule progressing to past XXX [week-end] roughly welcomed [ph]. on employees this Let we to update just Sutter an date now Onboarding on onboarding and with is have activities.
teams operational are Our technological on and focused readiness.
of plan training activities to ongoing We generated to dynamics on from updating end-to-end variation, we employees most us IDN the per One At from Health, respond for have and XXX X.X%. also activities Geographic contract of contracts. the with and are customers collect incremental payer partner fourth is thing are added percentage to complete. for for would and illustrative is I cost work final dynamics, management leaders To account employees The notable transition. completed reimbursement, on have can scheduled work like baselining Deployment for this select billion to due affect to progressing of scope differences plan Clair capacity our moving economics and underway to transition local operating definition IDN or the change changed we to Scion at provide vary costs. through rates end-to-end deployment X% payer is in near-term NPR labor smooth until IDN the also Health quarter. St. rates a customers and been position continue to activities. baselining mid-point in that note at the to later revenue
X us and planned, teams say our than third our results, the expect continue we remain announced XX% completion pleased expect unchanged contribution earlier Clinic, customers and we this discussed end we margin more on in Sansum Sansum of successful by margins to meeting our as EPPA are earlier With onboarding are pressure deployment on to Vision, continue as factors for out preparing year. schedule. phases of to of of year, performance. onboarding Keplr we I'm fourth Onboarding their financial to process we In-light date. the and Collectively, the Importantly, deliverables at been the also due of progressing new the the have to across I of steady long-term billion the new NPR customers. physician focused quarter, relationships new with key quarter for customers look
I above. modest from will levels, incur fees incremental While incentive respond in the our highlighted will because expect we we recovery to to expenses QX be challenges higher costs
expect also volumes be to by customers. net forecasted across We physician lower we than fees and impacted both operating had acute
to a our EBITDA million X.XX We revenue and million. billion X.XX, guidance to range XXXX range guidance to $XXX of lowering are therefore adjusted to $XXX
customers' Several operating and As in goals. updated we're our to investment and providing on follows: for estimates. current we be increasing January, turn will budgeting partner not key ensure while formal XX% our XXXX expected our XX% until the to this as our XXXX, to consensus view to execution performance view be are guidance exceeds below drivers will contracts EBITDA We our that be process is is
of the expect maximize approach long-term these potential this contracts. earnings We to
We growth legacy previously than modular are longer to for higher ramp RX assuming solutions a expected.
the mentioned, and indications around customers engine legacy is is Cloudmed very early exceeding as modular expectations commercial However, from growth solutions the encouraging.
to future to there offerings. unlocking these growth is We meaningful believe continue
our support growth data to investments long-term consolidated technology higher expect We and platform around a strategy architecture.
our out assumptions factors, in Finally, cautious for namely effect pocket budget expenses. as of we as are patient for a well a payments couple XXXX consumer of of on view taking inflation, the environmental
trajectory. lower now continued and emphasize that the long-term to expect we growth results our four our it's key the that near-term, underpin in confidence in drivers earnings Given important
in First, a of we end-to-end industry value with we leading by plus shown best billion have believe scale onto in in revenue signed provider proposition NPR the position platform Cloudmed’s the our as XXXX. across competitive has the XX% industry platform the unparalleled new NPR intelligence serving XX country. strong the
ongoing scale, in technology Second, of pipeline continued end We remain our dynamics to offerings. is investment believe evidenced at result also automation. challenges This our is global a our growth better address macro positioned end-to-end by market coverage, and strong. RX as
In QX. fact, compared our pipeline end-to-end QX, is up to than XX% more in
to track on Phase X, remain least X new NPR onboarding also of in billion inclusive XXXX commence We at etcetera. of in
automation customers Third, strategic additional and and efforts our along with platform for the we our from balance continue to Cloudmed Cloudmed associated be engine, our sheet strong ability signs positive we of and benefits well the for high the and growth. going have opportunities seeing rationale a and recurring with early leverage a for commercial data expansion Fourth, end-to-end compelling financial customer to about revenue very future margin via modular fund including yield the integration is combination. revenue model technology Cloudmed’s infrastructure. our solutions to to benefits, best-in-class channel the across We're with runway
the turn tenure some governance our with us Lee, discuss let given company, discussions. corporate have Before To at And to in standpoint. I leadership from succession the background, me these discusses morning. actively succession I regularly my provide over this it Board planning been involved a
new Lee Lee plan elect time John leaders the succeed including into January orderly President succeed the X. Operating to Rivas, my XX to and company company, effective this as assume President title pleased the I right role. I will role, and also facilitate Officer that approach January in CEO As years CEO Sparby, the at X. Lee his the new of an determine company. immediately transition as Chief will Board the helm very me will seven turn current effective the the succession to with nearly is I'm execute
continue as data will deep advisor on an of industry. technology to the cycle I executive extensive transition, serve has RX's transition. revenue Board a Lee Lee the serve leadership and the strong of and understanding experience, assist and Following in the Directors to experience, to and Board
learning customers business Lee of given person business. company succeed track and forward. performance, As and part organization, of and closing, I he we overhauling excited our transaction demonstrated could be meeting about care will broad record and CEO. Board I'm onto technology performing based the in person and country impact to at see fulfilling appointment the as more platform, of RX his Lee over roadmap be our journey. working the ability of as his teams. last proven and our President, have high seven that advancing been to in the leading expertise, coming build right it's the years. as we've is operational our I within our are to me exciting I the stewardship. been ensure under the his together Since the Cloudmed not could systems hands infrastructure some adding to years capable accomplished engagement lead was have process, proud RX From confident in know what the that The very right I to In technology health will an
accomplishments heartfelt by saying and have of thousands the Our thoughtful would dedication the to globe, not help want And end everyone you without tremendous team I for across members efforts their been of RX a to alongside. thank
Now, I'll call over Lee. turn to the
