Patients as Customers: Primary Care Practice Taking a Starbucks Approach 03/27/2015Posted by Morse Barnes-Brown Pendleton in Client News.
Tags: healthcare, primary care, Series c, vc financings
MBBP client Iora Health has announced an innovative plan to keep you out of the hospital and still make money. There’s no shortage of personal stories stating the classic case of healthcare complications and costs standing in the way of getting (and staying) healthy. The misalignment of financial incentives is a huge problem for patients, who often can’t get the care they need. Iora thinks it may be able to solve both problems and make money doing so. Its business model is meant to keep patients out of the hospital by improving service while earning a dividend on the expensive care it was able to avoid.
What’s so innovative about this? The plan offers the possibility of mass replication of quality care in a franchise-like style. Few health care innovators now expand beyond their original location, but Iora’s ultimate goal is hundreds of practices across the country, a kind of Starbucks for health care.
Read more, including one patient’s story here.