Agilon Health built its business around a simple but powerful idea: give primary care doctors the tools and incentives to take on full financial risk for their Medicare patients. Founded in 2016, the company provides a platform that bundles data analytics, care management workflows, and payer contracting capabilities so physician groups can operate under global capitation — meaning they receive a fixed payment per patient per month and keep the savings from better outcomes.
The platform connects to practice management systems, EHRs, claims databases, and pharmacy benefit managers to give doctors a complete view of their patient panels. Dashboards highlight care gaps, upcoming preventive visits, and high-risk patients who need proactive outreach. Agilon’s team also handles the heavy lifting on contract negotiations with Medicare Advantage plans, actuarial analysis, and regulatory compliance.
Agilon partners with physician groups across more than 20 states, collectively managing care for over 525,000 Medicare Advantage members. The company went public in 2021 and has grown revenue rapidly — reaching approximately $5 billion in platform revenue on a run-rate basis, though it’s important to note that much of that flows through to medical expenses. The company’s own net revenue sits in the hundreds of millions. Around 700 employees support the operation. Agilon’s model works because it aligns physician incentives directly with patient health: fewer ER visits and hospitalizations mean better margins for both the doctors and Agilon.
