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Apr 16, 2019

A doctor raised more than $250 million to create a new kind of clinic that charges a monthly fee, and it could be the future of medicine

Posted by in categories: biotech/medical, business, health

  • In the future, going to the doctor’s office might start to feel different, with you or your insurer paying a monthly fee for routine access to your doctor without paying a copay.
  • It’s the model for Iora Health, a startup that works with “sponsors” — mainly employers or private health plans for the elderly (known as Medicare Advantage) — that cover the monthly fee. Iora also built out care teams of nurses and other health professionals that can help the doctors within the practice.
  • We spoke with Iora’s CEO Rushika Fernandopulle about how he built a company that’s raised more than $250 million with plans to grow to 50 practices around the US by the end of 2019.
  • Fernandopulle is one of Business Insider’s 10 people transforming healthcare.
  • Visit BusinessInsider.com for more stories.

Fifteen years ago, Rushika Fernandopulle had a radical idea.

A primary care doctor by training, he had been treating patients in the standard, insurance-backed way. But he started to realize that wasn’t working, and insurance wasn’t covering what he wanted to do for patients.

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