CEO looking to reinvent going to the doctor says he can cut all U.S. health costs by 10%

Aug. 28, 2018

One Medical CEO Amir Rubin told CNBC the primary-care organization’s recent investment from private equity firm Carlyle Group will help it reach its goal of decreasing overall healthcare spending in the U.S.

One Medical announced that it had received an investment of up to $350 million from Carlyle Group. Rubin said use of the new funds will include doubling its office space, expanding its membership footprint, and aggressively hiring more medical professionals.

The group, which is backed by Alphabet’s GV, has 72 offices across 9 cities.

“Our goal is to delight millions of consumers and take out 10% of the U.S. healthcare spend,” Rubin, a former executive of UnitedHealth Group, said in a “Squawk Box” interview. “So, we’re thrilled with our partnership with Carlyle, and as we continue to grow, we’ll tackle that approach.”

Rubin expects providing high-quality office visits will reduce a patient’s need for additional appointments, thus reducing costs.

CNBC previously reported that One Medical was in talks with Carlyle. One Medical, which offers concierge-style primary care, allows patients same-day office visits and around-the-clock virtual medical assistance from professionals.

One Medical’s approach comes as health spending rises in the U.S. and corporations begin to take the cost of care for employees into their own hands.

CNBC has the full article

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