// startup autopsy
Phreesia
Patient check-in tech that couldn't check its own burn rate.
unit economicsMass Layoff Spiral
Cascading layoffs that accelerated the decline
| Founded | 2005 |
|---|---|
| Closed | 2023 |
| Country | USA |
| Sector | Healthtech |
| Founder | Chaim Indig |
// the model, blind
Evaluating only Phreesia’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. That’s exactly how it died.
Key Events Timeline
FOUNDING
Chaim Indig founded Phreesia to digitize patient intake and automate front-desk operations for medical practices.
FUNDING
IPO on NYSE raised $187M; stock surged as investors valued patient engagement software highly post-ACA.
PRODUCT LAUNCH
Expanded into life sciences data and analytics to diversify revenue, but core platform growth began decelerating.
LAYOFF
Laid off approximately 12% of workforce, stock down 75% from peak; original patient engagement model effectively shelved.