One Medical, a membership-based chain of primary care clinics recently filed with the Securities and Exchange Commission to raise up to $100 million in an initial public offering. It is one of several companies looking to change the way physicians get paid, according to Business Insider.
Though physicians are typically paid per visit or procedure, many companies, including the five listed below, are offering new payment models and raising millions from investors.
1. San Francisco-based One Medical has 77 medical offices and is expecting to double that number over the next two years. The company offers customer memberships, which cost $200 annually, and is pushing more into digital services like virtual consults. One Medical's physicians see no more than 16 patients a day, according to Business Insider.
2. Chicago-based VillageMD has more than 200 practices. The 2,500 physicians who work with VillageMD get paid based on health outcomes rather than the number of visits they have with patients.
3. Boston-based Iora has more than 30 clinics. It charges a monthly fee for primary care, which is covered by employees or Medicare Advantage plans.
4. Miami-based ChenMed operates more than 60 clinics. ChenMed's physicians typically see 300 to 400 patients per year and are paid a set amount by Medicare Advantage plans.
5. Chicago-based Oak Street Health provides primary care to seniors at its 45 clinics. It gets paid by Medicare and Medicare Advantage plans to manage the health of members, which involves giving patients more time with physicians, driving patients to appointments and offering social events, according to Business Insider.
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