Phreesia went after one of the most hated objects in American medicine: the clipboard in the waiting room. Patients filled in the same forms at every visit, and front-desk staff typed them up by hand. Phreesia handed patients a tablet instead. The answers went straight into the practice's records, and the device could collect a copay on the spot. In July 2019 Phreesia took that idea to the New York Stock Exchange.

Paperwork, Then Payments

Chaim Indig and Evan Roberts founded Phreesia in 2005. Their bet was that check-in was the moment to fix a doctor's office. A patient waiting for an appointment had time to update insurance, answer health questions and pay. Phreesia charged practices for the software. It also earned money from drug makers, which paid to show health messages to patients during check-in.

Up 40 Percent on PHR

Phreesia priced an upsized IPO at $18 a share on July 17, 2019, above its range. It began trading on the New York Stock Exchange the next day as PHR, opened at $26.75, and closed about 40 percent above the offer price. The company grew for years at a loss. In 2025 it reported its first quarterly profit and agreed to buy AccessOne, a patient payments company, for $160 million. Phreesia still trades on the NYSE.

Cover: Free Doctor's Visit Day (plate 16), Charles Émile Jacque. Art Institute of Chicago, public domain. Chosen for a doctor's waiting room.