These Stocks Are Bound to Benefit From the Zero-Contact Wave

– By Ishan Majumdar

The Covid-19 pandemic has significantly impacted the way people are living their lives these days. This has led to a number of behavioral changes in the life of the average consumer, and one new aspect that has particularly gained importance is the use of zero-contact solutions. Consumers and businesses alike are looking to minimize contact with others as far as possible, whether through grocery delivery, healthcare, or payment solutions.

This “zero-contact wave” is likely here to stay for a while, and there are a number of companies providing solutions within this space that could heavily benefit from this new consumer behavior. Here are some of my picks.

Phreesia Inc.

The need for contactless healthcare services, particularly with the capacity of healthcare facilities being used heavily by Covid-19 patients, has pushed many consumers to telehealth providers. However, telehealth is not a solution for all kinds of healthcare issues and many patients continue to require in-person care.

This is where Phreesia (NYSE:PHR) comes into the picture. The company is a service provider to healthcare facilities, and its offerings include a complete zero-contact patient intake. Phreesia helps patients have a contactless check-in to waiting rooms and carry out the registration process in the comfort of their home. It also handles the complete paperwork of patients, including proof of identification, insurance and payments, with minimal contact through its proprietary Phreesia platform. For healthcare facilities, this is a holistic patient activation and support solution.

These Stocks Are Bound to Benefit From the Zero-Contact Wave
These Stocks Are Bound to Benefit From the Zero-Contact Wave

Phreesia’s stock has also had an excellent run over the past six months with a 63% appreciation. Its valuation may seem pricey at an enterprise-value-to-revenue ratio of 8.68, but the company has a lot of cash on its balance sheet with a cash-debt ratio of 3.34, implying