Overview
This past week, One Medical/1 Life Healthcare discussed many key catalysts that we had been tracking, such as potential tailwinds from heightened flu vaccine demand (and later, COVID vaccine demand), additional market expansion commentary, and full partner coverage of members within their existing markets. The notion that ONEM would benefit from the possibility of #NoFluSeason is one we have discussed beginning in the early summer. Thaler noted that along with the “strong and early” demand for flu vaccinations, the company also expects there to be additional tailwinds from pent-up demand that had been deferred earlier in the year.
- In regard to COVID testing, management was positive their unique combination of digital health capability with in-person care would position them well to meet the needs of their existing markets.
- “I think just like we saw with our Healthy Together COVID program to date, we can deliver an outstanding experience and serve kind of these public health needs. People can get on our app, they can book COVID testing in drive-through-locations They can drive through and they can get their flu vaccine at the same time. We can serve employers; we can serve communities. We did things with cities early in COVID.” - Amir Dan Rubin, CEO & President
Aside from the positive commentary surrounding flu, management updated investors on a target of expansion into five additional market (currently named: Austin, Columbus, Houston, Raleigh) and the completed hospital partnerships across all existing and planned markets. The significance of this announcement is the ability for ONEM to manage the client’s entire patient journey from their annual wellness visit to a specified exam to diagnose an injury to the referral physician and location that will perform the necessary treatment to correct it. That level of clarity and involvement is what One Medical has needed to uphold their mission to “delight” their members all along.
We remain long ONEM going forward, as we feel we have the necessary trackers to follow its impressive story going forward. Aside from the claims and app download data we have previewed before, we have also completed an in-depth analysis of each of ONEM’s markets to better understand the unique competitive dynamics and current penetration in each location.
Individual Market Analysis | Good, Bad, & New
All data available upon request. Please reach out to with any inquiries.
Thomas Tobin
Managing Director
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