Finance
One Medical CEO Amir Rubin on where the company goes in its second decade
-
One Medical is a medical practice that charges a flat
fee of $199 a year to make doctor’s visits an easier experience
for patients. -
The private company, which got its start in 2007, is
now in its second decade and is working on expanding its
presence in the US and its work with employers. -
“Where we’re going in our next decade is to blow this
thing out nationally,” CEO Amir Dan Rubin, who joined the
company in August 2017, told Business Insider.
In the exploding world of healthcare technology startups —
especially those working to improve doctor’s office experience —
few have been around for more than a decade.
Cue
One Medical, a company founded in 2007 that charges a flat
fee of $199 a year for its services. Members still use their
insurance during their visits to One Medical-run clinics, but the
fee covers additional services such as mobile communication with
One Medical staff members and mobile prescription renewals.
Members can also book appointments online, including last-minute
visits.
One Medical got its start in 2007 in San Francisco and has since
expanded its clinics into nine cities,
including three offices in San Diego coming in 2019.
In 2017, One Medical brought on Amir Dan Rubin as CEO. A
healthcare veteran, Rubin had previously led Stanford Health Care
and was working as the head of UnitedHealth Group’s Optum
division before joining One Medical. The company’s
“transformational” model of primary care got him excited.
“This can actually change healthcare at scale,” Rubin said.
Now more than 11 years in, the company has big plans for its
second decade.
“Where we’re going in our next decade is to blow this thing out
nationally,” Rubin.
That includes growing in three ways: working with employers,
expanding geographically — like moving into San Diego — and
working with health systems.
Rubin said the company’s been increasing its efforts to sign up
employers and grow that business over the last two years.
Historically, One Medical marketed directly toward consumers, a
lot of which took place via word of mouth. So far, about 1,000
employers have signed on to offer One Medical as a benefit.
Under that system, employers cover One Medical’s membership cost
and consumers can opt in.
For many Americans, their employers are the ones picking up the
tab. More than
half of the non-elderly population is covered by an
employer-sponsored plan, and almost 80% of
large companies are self-insured. As healthcare costs go up,
employers are the ones feeling the pressure. And some are
starting to get fed up.
“Employers are frustrated with the results they’re seeing.
They’ve been buying all the other stuff and it hasn’t worked,”
Rubin said.
On the health systems side, Rubin said One Medical is partnering
with health plans and hospitals to offer services that go a bit
beyond primary care but can often be done in your primary care
doctor’s office.
For example, One Medical is working with obstetricians to manage
some of the healthcare visits associated with pregnancy. Instead
of having to go to the OB-GYN office for routine check-ups, those
visits could happen at a One Medical office that might be closer
to get to. Rubin said the company’s also working on similar
partnerships in sports medicine and therapy.
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