Like a marathon runner pumped up on adrenaline, UiPath Inc. sprinted to the lead in what is surely going to be a long journey toward enabling the modern automated enterprise.
In doing so, the company has established itself as a leader in enterprise automation, while at the same time getting out over its skis on critical execution items and disappointing investors along the way. In our view, the company has plenty of upside potential but will have to slog through its current challenges, including restructuring its go-to-market efforts, prioritizing investments, balancing growth with profitability, and dealing with a difficult macro environment.
In this Breaking Analysis and ahead of Forward 5, UiPath’s customer conference in Las Vegas Sept. 27-29, we once again dig into robotic process automation leader UiPath to share our most current data and view of the company’s prospects, its performance relative to the competition, and the market overall.
Since the pandemic, four sectors have consistently outperformed in the overall tech spending landscape – cloud, containers, machine learning/artificial intelligence and robotic process automation.
We entered 2022 with the expectation that information technology spending would increase by more than 8% in 2022. In the last Enterprises Technology Research macro survey we saw those expectations moderate to just over 6%. We would expect the next ETR macro drill-down in October to show continued deceleration in spending expectations – perhaps as low as the 4% to 5% range.
All sectors are showing softness, as no sector in the ETR data set has shown a significant increase in spending expectations. For the first time in a long time, ML/AI and RPA have dropped below the elevated 40% line shown in this ETR graph above. The data plots the Net Score or spending momentum for each sector with videoconferencing added to simply provide height to the vertical axis. The squiggly lines for ML/AI and RPA demonstrate the downward trajectory over time with only the most current period dropping below the 40% Net Score mark.
While this is not surprising, it underscores one component of the macro headwinds facing all companies generally and UiPath specifically. That is the discretionary nature of certain technology investments. It has been a syllabu of conversation on theCUBE since the spring, affecting strong data players such as MongoDB Inc. and Snowflake Inc., the cloud, security and other sectors.
The point is ML/AI and RPA appear to be more discretionary than certain sectors, including cloud. Containers most likely continue to benefit from the fact that much of the activity is spending on internal resources – i.e. developers — as much of the action in containers is free and open source. Security is not shown, but as we’ve previously reported, it’s somewhat less discretionary than other sectors.
As it relates to the Big Four above that we’ve been highlighting since the pandemic hit, we’re starting to see CIOs prioritize more tactical and low friction areas like cloud over strategic investments such as AI and automation.
UiPath has not been immune to this downward pressure, but the company is still able to show some impressive metrics.
The above chart provides a snapshot from UiPath’s investor deck. For the first time, UiPath’s ARR has surpassed $1 billion. The company now has more than 10,000 customers, with a large number generating more than $100,000 in annual recurring revenue. Though not shown in this data, UiPath reported this month in its second-quarter close that it had 190 $1 million-plus ARR customers, which is up 13% sequentially from its first quarter. As well, the company’s net revenue retention is over 130%, which is solid and underscores the low churn which we’ve previously reported for the company.
It’s very rare to see a company’s growth rate dramatically accelerate when it reaches a significant size. It’s often why more mature companies turn to mergers and acquisitions to accelerate the top line. Amazon Web Services Inc. and Microsoft Corp.’s Azure business are two exceptions to this rule, but generally as a company reaches critical mass, growth slows, and that’s what the data shows for UiPath.
We created this chart above from UiPath financials and Wikibon estimates. It shows the dramatic growth in ARR (the blue bars) compared with the rapid deceleration in ARR growth (the orange line). For the first time, UiPath’s ARR growth dipped below 50% last quarter. We’ve projected 34% and 25%, respectively, for the company’s third and fourth quarters which is slightly higher than the upper range of UiPath Chief Financial Officer Ashim Gupta’s guidance from the last earnings call. That still puts UiPath exiting its fiscal year at a 25% ARR growth rate.
While it’s not unexpected that a company reaching the $1 billion ARR milestone will begin to show slower growth, net new ARR for UiPath is off its fiscal year 2022 levels. The other perhaps more concerning factor is the company, despite strong 80%-plus gross margins, remains unprofitable and free cash flow negative. New co-Chief Executive Rob Enslin has emphasized the focus on profitability and we’d like to see a consistent and disciplined rule of 40 performance going forward.
UiPath’s growth has slowed and management has lowered guidance. The company has discussed significant macro challenges including currency fluctuations and weaker demand (especially in Europe and Asia-Pacific). The stock has reacted poorly, as shown above, and has been on a steady decline.
All growth stocks are facing challenges related to inflation, rising interest rates and a looming recession, but as seen above, UiPath has significantly underperformed relative to the tech heavy Nasdaq. UiPath has admitted to execution challenges and it has brought in an expanded management team to facilitate its sales transition and desire to be a more strategic platform play versus a tactical point product.
Adding to this challenge are foreign exchange issues. As we’re previously reported, unlike most high-flying tech companies from Silicon Valley, UiPath has a much larger proportion of business coming from locations outside of the U.S. – around 50% of its revenue. Because it prices in local currencies, when you convert to appreciated dollars there are less of them and that weighs on revenue.
We asked Breaking Analysis contributor Chip Symington, former managing director of institutional trading for Piper Jaffray, for his take on the stock and he told us the following:
From a technical standpoint there’s really not much you can say – it just looks like a falling knife. It’s trading at an all-time low, but that doesn’t mean it can’t go lower. New management with a good product is always a positive with a stock like this but this is just a bad environment for UiPath and all growth stocks, really. And 95% of money managers have never operated in this type of environment before, so that creates more uncertainty. There will be a bottom, but picking it in this high-inflation, high-interest rate world hasn’t worked lately. There’s really no floor to these growth stocks that have no earnings until you start to trade toward cash levels.
UiPath has $1.6 billion in cash on the balance sheet and no debt, so we’re a long way from cash levels with its current $7 billion valuation. But you have to go back to April 2019 to UiPath’s Series D funding round to find its previous $7 billion valuation, so as Symington says, the stock could still go lower. The valuation range for this stock has been quite remarkable – from around $44 billion last May to $7 billion today – quite a swing.
The graphic above shows the Net Score or spending momentum granularity for UiPath. The lime green is new adds, the forest green is spending 6% or more, the gray is flat spend, the pink is spending is down by 6% or worse and the bright red is churn. Subtract the red from the green and you get Net Score, which is the blue line.
The yellow line is Pervasiveness within the data set and is skewed because of Microsoft’s large number of citations. There’s a belief from some that competition from Microsoft is the reason for UiPath’s troubles, but Microsoft is really delivering RPA for individuals and isn’t an enterprise automation platform – at least not today. But it’s Microsoft, so you can’t discount the company’s presence in the market and possible impact on competitors.
The data above is through the July survey but taking a glimpse at the early October returns they’re trending with the arrows – meaning less green – more gray and red, which will lower UiPath’s overall Net Score – consistent with the macro headwinds it is seeing.
Despite its challenges, UiPath continues to get Good Score from customers and analysts, and relative to peers, it maintains a leadership position in the ETR data set.
This chart above shows Net Score or spending velocity on the vertical axis and Overlap or presence in the data set on the horizontal axis. Microsoft continues to have a big presence and, as we mentioned, somewhat skews the data. UiPath has maintained its lead relative to Automation Anywhere Inc. on the horizontal axis and remains ahead of the legacy pack of business process and other RPA vendors. Celonis GmbH has popped up in the ETR data set as a process mining player. This is a critical market UiPath entered via its acquisition of Process Gold in October of 2019 and we expect UiPath to continue to gain ground in the process mining discipline as part of its integrated platform play.
We’ve also inserted a thumbnail of the most latest Gartner Magic Quadrant for RPA. We don’t show the detail, but we’ve circled the position of UiPath in red. The company leads on both axes ahead of all players, including Microsoft.
We’re still not seeing the likes of SAP SE, ServiceNow Inc. and Salesforce Inc. show up in the ETR data, but these enterprise software vendors are in a reasonable position to capitalize on automation opportunities within their installed bases. This is why it’s so important that UiPath transitions to an enterprise-wide horizontal play that can cut across multiple enterprise resource planning, customer relationship management, human capital management and service management platforms. Although the big software companies can add automation to their respective stovepipes, UiPath’s opportunity is to bring automation and enable enterprises to build on top of and across the SaaS platforms that are running their companies.
Notably, on the chart you see the red arrows slanting down – that signifies the expected trend from the October ETR survey, which is currently in the field and will run through early next month. Suffice it to say there is downward spending pressure across the board and we would expect most of these names, including UiPath, to dip below the 40% dotted line.
Let’s discuss UiPath’s platform play.
The graphic above is from an older UiPath investor deck that underscores the move from product to platform. UiPath has expanded its platform significantly. It’s moved from an initial on-premises point product, automating tasks for individuals and back offices, to a cloud-first platform with many more features and capabilities. The company has made a number of critical technology acquisitions to build out its platform. These include the previously mentioned Process Gold for process discovery, process documentation from the acquisition of StepShot, application programming interface automation via the acquisition of Cloud Elements, and its more latest acquisition of Re:Infer, a natural language processing specialist.
The company is positioning its automation platform as a fundamental ingredient of customers’ digital transformations. This is a distinctly different value proposition relative to UiPath’s early days where customers could install a software robot and start attacking mundane processes virtually overnight. The sales cycles will be longer, and the change management for customers will be more complicated, but the returns should be much larger and transformational for organizations.
We expect platform to be a big focus of Forward 5, a three-day event this coming week at the Venetian in Las Vegas. It will likely be the most heavily attended in-person event in the company’s history.
It would make sense for UiPath to introduce a new description of its platform at the conference that articulates how it plans to fuse personal automation with enterprise-wide transformations. In some ways, we can draw analogies with ServiceNow’s platform, or Salesforce is perhaps an even better example, where an initial installation solves a tactical problem and then can be expanded across the enterprise to more departments with an increased number of use cases.
As such, we expect UiPath to heavily emphasize the role of automation in the context of digital transformation, and how it has evolved from point product to platform to support DX. Specifically, observers should expect a focus on platform maturity. When UiPath announced its platform intentions in 2019, the last physical customer event prior to COVID, it essentially was laying out a statement of direction that evolved during the pandemic. Last year at Forward IV, we saw the beginnings of this vision in product form. This year we expect that vision to be more real from a product perspective.
In conjunction with this evolution, the company has evolved its partnerships. We’ve seen latest pairings with the likes of Snowflake in the Data Cloud, CrowdStrike Holdings Inc. to provide better security, and of course the big global system integrators to help implement enterprise automation. And we expect to hear a lot from customers about strategic outcomes and how they’re digitally transforming (there are more than 100 customers speaking at the event).
Earlier we touched on the fact that we haven’t seen the big ERP and enterprise software companies show up yet in the ETR data. We know they’re out selling automation and RPA as part of their offerings. And they’re competing. So expect UiPath to position itself (and de-position the enterprise software vendors). UiPath aspires to be a layer above these bespoke platforms (see 04 above), with process discovery and task discovery as foundations to build in automation across enterprise apps, and operationalizing process workflows as a horizontal play.
We look forward to hearing more about this new vision and how UiPath is turning it into product.
And, as we showed earlier in the platform discussion, we expect to hear a lot about the new platform features and use case examples they enable. Not just RPA, but process mining, testing automation, which is a new vector of growth for UiPath, document processing and so forth. We also expect UiPath to address its low-code development capabilities to expand the number of people in the organization that can create automation capabilities… that is, those domain experts who deeply understand the business but aren’t software engineers.
Finally, we expect this conference to set the tone for a new chapter in UiPath’s history. It’s the company’s second in-person gathering since the pandemic. UiPath has a new operations and go-to-market-oriented co-CEO in Rob Enslin, new sales management and the so-called adult supervision that has been lacking at UiPath historically. Daniel Dines will no doubt continue to have a big presence at the event and the company. He’s not a figurehead. Dines has a deep understanding of the product and market. Both co-CEOs will be on theCUBE together and it will be a great opportunity to find out how they envision complementing each other, their respective strengths and how they see the future of enterprise automation and UiPath.
UiPath has rocketed to a leading position in the market. The slingshot effect of growing rapidly, going public and living under the scrutiny of the quarterly shot clock has forced the company to take a pause and reset expectations. At the same time it has been executing on a broader vision to be the clear leader in enterprise automation. To do this the company realized it needed new leadership, or at least an experienced co-pilot with strengths that complement Daniel Dines’ product depth.
UiPath has set a new course for its rocket ship. It has plenty of fuel in the form of a large customer base, relatively low churn, product leadership and a strong balance sheet. Its new co-CEO is a strong communicator who has set a definitive tone underscoring the mandate for profitability while maintaining a growth trajectory. Although the macro environment is a concern, UiPath has enough runway to see itself through the choppiness.
It now has to deliver on its promises to Wall Street the way it has for customers.
Thanks to Chip Symington for his contributions to this episode of Breaking Analysis. Alex Myerson and Ken Shiffman are on production, podcasts and media workflows for Breaking Analysis. Special thanks to Kristen Martin and Cheryl Knight, who help us keep our community informed and get the word out, and to Rob Hof, our editor in chief at SiliconANGLE.
Also, check out this ETR Tutorial we created, which explains the spending methodology in more detail. Note: ETR is a separate company from Wikibon and SiliconANGLE. If you would like to cite or republish any of the company’s data, or inquire about its services, please contact ETR at email@example.com.
Here’s the full video analysis:
All statements made regarding companies or securities are strictly beliefs, points of view and opinions held by SiliconANGLE Media, Enterprise Technology Research, other guests on theCUBE and guest writers. Such statements are not recommendations by these individuals to buy, sell or hold any security. The content presented does not constitute investment advice and should not be used as the basis for any investment decision. You and only you are responsible for your investment decisions.
Disclosure: Many of the companies cited in Breaking Analysis are sponsors of theCUBE and/or clients of Wikibon. None of these firms or other companies have any editorial control over or advanced viewing of what’s published in Breaking Analysis.
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Age-Related Topics (ARTS): MBART-MAIN
The goals of this course are to provide an introduction to both pediatric and geriatric clinical medicine by highlighting the similarities and differences in basic principles of pathophysiology as they pertain to patients at either end of the age spectrum.
Course Co-Directors: Shweta Parmekar, M.D. and Anita Major, M.D.
Psychiatry and Behavioral Health Sciences: MBBES-MAIN
The goals of this course are to increase the learner's understanding of the biological, psychological, social and cultural processes that influence normative development across the lifespan; and to increase the learner's understanding of mental illnesses including diagnosis, psychopharmacology and psychotherapy. Along with the increased knowledge in course content, secondary goals are to provide avenues for enhanced awareness about the implications of personal bias and application of these principles in clinical encounters. This course is designed to create a foundation of knowledge that will be used in the Psychiatry clerkship.
Course Director: Sindhu Idicula, M.D.
Associate Course Director: Edore Onigu-Otite, M.D.
CABS-Business and Leadership in Medicine: MCBLM-MAIN
The goals for the course are for the learner to identify and describe key features of health insurance construction and delivery in the US; discuss key policies that shape health insurance status and care delivery; identify common structures and approaches for health care provider payments; compare and contrast the strengths and weaknesses for different models of provider reimbursement; and assess latest evolutions in physician practice arrangements and show how they interact with contemporary reimbursement models and emphases on quality of care.
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The goals of this course are to provide the fundamentals for understanding the pathophysiology of common dermatologic diseases; provide an understanding and knowledge of the pertinent history, clinical test findings, and diagnostic clinical testing/strategies utilized for dermatologic diseases; and to reinforce the application of and integration of clinical findings to diagnostic differentials and treatment for dermatologic diseases to prepare the learner to transition from the classroom to the clinical setting.
Course Co-Directors: Soo Jung Kim, M.D., Ph.D. and Ikue Shimizu, M.D., B.A.
CABS-Evidence-Based Medicine (EBM): MCEBM-MAIN
The goals of this course are to develop a pattern of life-long learning by identifying, analyzing, and synthesizing information relevant to one's learning needs, develop skills in seeking and assessing the credibility of information and resources, utilize evidence-based decision-making in patient care, and to practice team problem solving in a 'safe' environment by practicing to share information with peers and colleagues. Students will continue to develop skills in basic biostatistics and epidemiology used in the medical literature and practice applying them to patient care.
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The goals of this course are to integrate basic concepts of nutrition relevant to pathophysiology encountered in common clinical settings in which nutrition plays an especially important role, including that encountered in patients with gastrointestinal, hepatic, endocrine, renal and cardiac disease; and to understand the potential role of nutritional guidance or intervention in reducing the incidence or severity of common medical disorders.
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Critical Thinking and Problem Solving: MBCTP-MAIN
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The goals of this course are to provide the fundamentals for understanding the pathophysiology of common endocrine disorders; provide an understanding and knowledge of the pertinent history, clinical test findings, and diagnostic clinical testing/strategies utilized for common endocrine disorders; provide an understanding and knowledge of the principles of endocrinology and treatment strategies; and to reinforce the application of and integration of clinical findings to diagnostic differentials and treatment for endocrine disorders to prepare the learner to transition from the classroom to the clinical setting.
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Associate Course Director: Nidhi Bansal, M.D.
The goals of this course are to provide opportunities for students to master core knowledge of ethics in clinical practice and to master reasoning skills of ethics in clinical practice.
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Associate Course Director: Claire Horner, J.D., M.A.
Foundations Basic to the Science of Medicine (FBSM): MBFBS-MAIN
The goals of this course are to increase students' knowledge of basic biomedical sciences and ability to integrate and apply these foundational sciences to the practice of medicine. By the end of this course, students will be sufficiently literate to interpret an article in a major medical journal, learn to integrate basic science concepts across traditional scientific disciplines (biochemistry, bioenergetics, biostatistics, cell biology, embryology, genetics, gross anatomy, histology, nutrition, pharmacology, physiology), and apply basic science to clinical pathophysiology, diagnostics, and therapeutics. Students will also develop attitudes and behaviors appropriate to the medical profession and will recognize how to foster the lifelong learning required for maintaining scientific and clinical competence throughout their careers.
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Associate Course Director (Nervous System): J. Cay Goodman, M.D.
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Associate Course Director (Pharmacology): Ram Reddy, Ph.D.
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Gastroenterology (GI): MBGST-MAIN
The goal of this course is to increase knowledge of the gastrointestinal system and common disease processes that can affect its function. These include disorders of the luminal gastrointestinal tract – esophagus, stomach, small intestine and colon – as well as the liver, pancreas and gall bladder.
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Associate Course Director: Richa Shukla, M.D.
General Pharmacology: MBPHR-MAIN
The goal of this course is to increase students' general knowledge of pharmacology and particularly pharmacodynamics, pharmacokinetics, adrenergic drugs, and cholinergic drugs. Antimicrobial drugs are introduced as a prelude to the Infectious Diseases course. Students will be able to describe drug uptake, distribution, action and elimination; have integrated their knowledge of the autonomic nervous system with the drugs and receptors that function in the adrenergic and cholinergic components of the autonomic nervous system; list the stages of the drug discovery and approval process; and properly write a drug prescription, taking into account knowledge of young, adult and senior patient populations.
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Genitourinary/Gynecology (GU/GYN): MBGUG-MAIN
The goal of this course is to introduce the student to the discipline of Obstetrics/Gynecology and Urology. Topics covered include pregnancy, breast cancer, birth control, infertility in addition to the pathology of the male and female reproductive systems and urinary system.
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Head and Neck Anatomy: MBHNA-MAIN
The goals of this course are careful dissection and understanding of the head and neck with emphasis on the skull and cranial cavity, orbit, ear, facial nerve and parotid gland, muscles of the face and scalp, function of the suprahyoid and infratemporal regions, pharynx, nasal cavity and sinuses, and larynx. Furthermore, there is an introduction to radiology and embryology of the face and neck. The cranial nerves are carefully defined in terms of innervations, motor and sensory functions, and autonomic pathways. Microanatomy of the eye and ear, including the retina and the organ of Corti, are presented to future physicians. General Sensory processing and basic ophthalmologic and ENT surgical procedures of interest are also included. This course functions as a prerequisite to the subsequent Nervous System course.
Course Director: Ming Zhang, Ph.D.
Associate Course Director: Sarah Blutt, Ph.D.
Associate Course Director: Angela Haskins, M.D.
The goals of this course are to increase knowledge of the pathophysiology of hematopoiesis and hemostasis and to integrate and apply knowledge of the regulation and function of blood cells and coagulation, acquire the principles of transfusion medicine, increase knowledge of the principles of cancer medicine and treatment strategies, and know the actions and complications of the major categories of cancer therapeutic agents, targeted therapies and cellular based therapy. As many specific cancers are taught in their appropriate systems courses, this course can be summarized as the details of hematology and the principles of oncology.
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Immunologic/Pathologic Basis of Disease: MBIPD-MAIN
The goals of this course are to prepare the students to approach the study of diseases and apply those principles to clinical diagnosis. This approach will be through both Immunology and the principles of General (systemic) Pathology. The normal and deranged immune system will be covered in relationship to the pathology of inflammation, autoimmunity, infections, tumors and autoimmune disorders. The fundamental cellular and tissue responses to injury, hemodynamic disorders, neoplasia and infection are covered.
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Associate Course Director: William Decker, Ph.D.
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Associate Course Director: Prathit Kulkarni, M.D.
Associate Course Director: Hana El Sahly, M.D.
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Course Director: E. Lee Poythress, M.D.
Nervous System: MBNRS-MAIN
The goal of this course is to provide an intense and thorough encounter with the nervous system so that students are prepared for their clinical clerkships, and for further scientific and clinical mastery of this discipline. Clinically relevant neuroanatomy and neurophysiology are covered in such a way that students will master clinical localization and pathophysiology. Specific disease states are introduced with consideration of pathophysiology, diagnostics and therapeutics to foster understanding of clinical neuroscience and to prepare students for the Neurology clerkship. The major focus is clinical localization and differential diagnosis of neurological disorders so that diagnostic and therapeutic plans can be formulated.
Course Director: Atul Maheshwari, M.D.
Associate Course Director: J. Clay Goodman, M.D.
Associate Course Director: Vaishnav Krishnan, M.D., Ph.D.
Associate Course Director: Ming Zhang, Ph.D.
Patient Safety: MBPSA-MAIN
The goal of this course is to prepare learners with the foundational knowledge necessary to understand the context, key principles and competencies associated with the discipline of patient safety in the delivery of healthcare services. Additionally, students will learn to recognize weaknesses in our medical system that can lead to patient safety events and will be empowered to promote a culture of safety in the clinical environment.
Course Director: Sara Andrabi, M.D.
Associate Course Director: Maryam Shafaee, M.D., M.P.H.
The goals of this course are to provide an introduction to clinical nephrology: specifically, the pathophysiology, diagnosis, treatment, and management of abnormalities in electrolytes and acid base, glomerulonephritis, kidney histology, acute kidney injury and chronic kidney disease, in adults and children. The learner will learn how dialysis and transplantation has shaped public policy. Utilizing common clinical scenarios and case-based group activity facilitate the transition from classroom to bedside.
Course Director: Bryan M, Tucker, D.O.
Associate Course Director: Siloe Alvarado, M.D.
Research and Populations in Medicine: MBTRP-MAIN
The goal of this course is to apply knowledge in translational research and population health to patient care, through active learning. By the end of this course, students will understand the fundamentals of conducting clinical research and how to apply research findings to guide patient care. Critical thinking and utilizing data for clinical decision making is emphasized
Course Director: Jessica Davila, Ph.D.
Course Associate Director: Daryl Scott, M.D., Ph.D.
The goal of this course is to provide the fundamentals for understanding the pathophysiology of common respiratory diseases. By the end of the course, students will be able to: correlate history, clinical test findings, and diagnostic clinical testing/strategies in order to form a differential diagnosis for common respiratory diseases; evaluate pathological images to diagnose respiratory disorders; and summarize pharmacological and non-pharmacological management options for common respiratory disorders.
Course Director: Dharani Narendra, M.D.
Associate Course Director: Helina Wakwaya, M.D.
Transition to Clinical Rotations: MBITC-MAIN
The goal of this course is to facilitate the transition of second-year Baylor medical students from the basic sciences to the clinical years. The goal is to provide basic skills and information to allow students to readily participate in patient care. At the end of the course, second-year students will be able to describe effective studying strategies for clinical rotations; demonstrate how to glove and gown using sterile technique; maintain sterile environment in the OR; navigate the EMR to find pertinent information; manage commonly described interpersonal and intrateam stressors on the wards; understand what is expected on a typical day on the wards for a given clerkship and how to succeed as a ward clerk; compose a SOAP note; and to discriminate between appropriate and inappropriate types of public disclosure concerning clinical experiences.
Course Co-Directors: Meghan McClure, M.D. and Katie Scally, M.D.
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Originally created as a simple virtual classroom software in 2012, Udemy has since grown to become one of the largest online learning platforms offering over 185,000 courses taught by more than 64,000 instructors in 75 languages. Its Complete Cryptocurrency Investment Course introduces students to the basics of cryptocurrencies and advances them quickly into investing techniques featuring live examples. As a result, it’s our clear choice as the best course overall.
The Complete Cryptocurrency Investment Course is led by Mohsen Hassan, a programmer, trader, and financial risk manager who has taught investing to more than 300,000 Udemy students. The course consists of over 12.5 hours of on-demand video, one article, and one downloadable resource and can be accessed on the Udemy mobile app.
The Complete Cryptocurrency Investment Course walks beginners through the fundamentals of cryptocurrency and quickly moves to live examples of buying, transferring, and using wallets as well as portfolio management techniques for both passive and active investing. Through this course, Hassan buys, transfers, secures, and builds a portfolio with real money so students can see exactly how it’s done.
The Complete Cryptocurrency Investment Course costs just $84.99 and includes full lifetime access, a certificate of completion at the end of the course, and a 30-day money-back guarantee. Udemy runs specials all the time, so you may be able to purchase the course for a much lower price.
Associate in Arts Program students are encouraged to attend sporting, cultural, and social events in Newark just like their Newark campus peers. AAP students can use the Morris Library or the Bob Carpenter Sports Center in Newark; they can join UD’s registered student organizations; and they qualify for student rates at UD theatre, music, or art events. AAP students have the option to participate in study abroad, alternative spring break, and other programs offered on the Newark campus.
Community Engagement Scholars
At SNHU, your success is our only mission. As an accredited, nonprofit university, we’ve helped thousands of students reach their goals with flexible, career-focused online college degree programs. As part of our commitment to student success, we offer some of the lowest online tuition rates in the nation. Find your program to see how SNHU can help you succeed.
Latisha Aguilar '21
“I couldn't have asked for a better university or a better support system than Southern New Hampshire University.”
The cost per credit hour for online undergraduate classes is $320 (or $960 per course) at SNHU.
Cost per credit hour for online graduate classes is $627 (or $1,881 per course).
And with no application fees, you can also apply for free. That's because we recognize that achieving your education goals is about more than just finding time, it’s also about overcoming financial barriers.
Apart from this, the overall costs per course may vary, depending on the price of books and other learning resources.
We understand how challenging it can be to manage your education costs. That's why we're here to help whenever you need it. Our Student Financial Services team is always available to guide you through the process. They'll help you explore financial aid options and even identify ways to help lower your tuition.
You may, for example, qualify for a scholarship or grant opportunity. And if you're a military service member or military spouse, you could be eligible to receive up to 30% military tuition discounts.
Whatever your financial situation, we've got your back.
A nurse for almost 3 decades, Dr. Barbara Brophy has always been drawn to training and educating nurses. She earned her DNP in Nursing Leadership at Chamberlain College. She loves being a nursing faculty member because she gets to have an impact on students every day, and she is proud to be in the profession. Read Dr. Barbara Brophy's Q&A.
Associate Dean, STEM Game Art & Development
Max Callahan joined SNHU in 2016. He is also a character designer, modeler, rigger and animator, and he previously worked as an art director and prop master in independent films. Callahan earned his master's degree in digital design from Philadelphia University. He's thrilled to help passionate students build the gaming skills they need to have a career they love. Read Max Callahan's Q&A.
Faculty, Clinical Mental Health Counseling
Since 2017, Dr. Mark Glowiak has enjoyed seeing the work of SNHU students – especially at in-person residencies. He earned his doctorate and master's in counseling at Walden University. He also has co-founded a group practice with three locations, employing clinicians who work with a variety of mental health disorders. Read Dr. Matt Glowiak's Q&A.
Anatomy & Physiology (15 credits): This module will equip you with a comprehensive understanding of human anatomy and physiology. Clinical anatomy will be taught using a combination of lectures and hands-on workshops using 3D anatomical models. The knowledge gained on anatomical structure will be complemented with functional knowledge through teaching on medical physiology topics.
Community Health (15 credits): This module provides an in-depth view of community health, with a focus on populations and communities rather than individual patients. Content includes primary care, mental health and public health, with discussion on the impact of significant health issues upon local and national health services.
Clinical & Professional Skills (30 credits): In this module, you will develop key clinical and professional skills related to working as a Physician Associate. For example; research methods, clinical skills, history taking, physical examination, ethics, communication skills, professional guidelines and regulation, evidence-based medicine, inter-professional education.
General Medicine (30 credits): This module provides a systemic approach to learning about organ systems and clinical pharmacology. Content will include diseases and health conditions associated with major organ systems (e.g. muscular, skeletal, circulatory, lymphatic, respiratory, endocrine, urinary, and digestive), and how they are treated. The role of the Physician Associate in therapeutics and prescribing will also be discussed.
Specialist Medicine (30 credits): This module will equip you with a sound knowledge of different areas in the clinical setting, and the role of such specialisms in primary and secondary care. Content includes: Dermatology, Ophthalmology, ENT (ears, nose and throat), Haematology, Neurology and Obstetrics and Gynaecology.
Practice-Related Project (60 credits): This module involves completion of an independent (but supervised) evidence-based, practice-related project. The project will develop your ability to relate research concepts and Topics to a clinical setting.
You, in conjunction with a clinical supervisor, will identify a research question or area for development and then design an original project to highlight potential solutions.
You will also complete a clinical portfolio – this module is not credit-bearing, but essential for a qualification which enables eligibility to sit the Physician Associate National Exam administered by the Royal College of Physicians and once passed, allows practice as a Physician Associate. The cost for sitting this test is borne by the applicant.
All modules are compulsory and all modules must be passed in order to complete the qualification of MSc in Physician Associate Studies.
Note: All modules are indicative and based on the current academic session. Course information is correct at the time of publication and is subject to review. Exact modules may, therefore, vary for your intake in order to keep content current. If there are changes to your course we will, where reasonable, take steps to inform you as appropriate.
Teaching typically includes lectures, group seminars, practical skills sessions and workshops. You are encouraged to become an independent and proactive learner, and we will recommend studying and electronic resources for independent study to help develop the breadth and depth of your knowledge.
The majority of your studies will take place at the university but we also incorporate hospital and community-based learning experiences on your placement activities.
Learning activities are designed to help you develop your teamwork, presentation and problem-solving skills, plus more traditional academic skills such as synthesis, evaluation and application. We also help you to develop your skills and understanding in professional areas such as ethics and reflective practice.
You will benefit from the support of a personal academic tutor, who you are encouraged to meet with regularly. We also offer a range of additional support services to help you develop the skills required for MSc level study.
Assessments include a variety of forms, including written and practical exams, case study reports and presentations. You will also be expected to undertake formative assessment, such as self-reflection and peer-review of fellow students. Bespoke guidance materials are provided for all forms of assessment on the course.
Year two of the course is largely placement based, however students will still be expected to attend university for revision sessions and engage in personal study
Physician Associate courses in the UK are not currently subject to formal accreditation; however this is going to change in the near future, as Physician associates will be regulated by the GMC. The course is working to meet the General Medical Council standards.
This programme is delivered at the Leicestershire School of Nursing Associates, based at Glenfield Hospital. Trainees will be given access to the Clinical Library facilities on each of the three sites within University Hospitals Leicester.
There is also a simulation suite for supporting both adult and child simulation clinical skills. Trainees are also encouraged to use the facilities available at DMU including the library and student services and to engage with the activities of the Student Union.
Students will be given full online access to resources such as DMU Library and the blackboard learning environment.
On campus, the main Kimberlin Library offers a space where you can work, study and access a vast range of print materials, with computer stations, laptops, plasma screens and assistive technology also available.
As well as providing a physical space in which to work, we offer online tools to support your studies, and our extensive online collection of resources accessible from our Library website, e-books, specialised databases and electronic journals and films which can be remotely accessed from anywhere you choose.
We will support you to confidently use a huge range of learning technologies, including Blackboard, Collaborate Ultra, DMU Replay, MS Teams, Turnitin and more. Alongside this, you can access LinkedIn Learning and learn how to use Microsoft 365, and study support software such as mind mapping and note-taking through our new Digital Student Skills Hub.
The library staff offer additional support to students, including help with academic writing, research strategies, literature searching, reference management and assistive technology. There is also a ‘Just Ask’ service for help and advice, live LibChat, online workshops, tutorials and drop-ins available from our Learning Services, and weekly library live chat sessions that deliver you the chance to ask the library teams for help.
We offer an equitable and inclusive approach to learning and teaching for all our students. Known as the Universal Design for Learning (UDL), our teaching approach has been recognised as sector leading. UDL means we offer a wide variety of support, facilities and technology to all students, including those with disabilities and specific learning differences.
Just one of the ways we do this is by using ‘DMU Replay’ – a technology providing all students with anytime access to audio and/or visual material of lectures. This means students can revise taught material in a way that suits them best, whether it's replaying a recording of a class or adapting written material shared in class using specialist software.