DocGo Inc. (DCGO): Business Model Canvas

In der sich schnell entwickelnden Landschaft der Gesundheitstechnologie entwickelt sich DocGo Inc. (DCGO) zu einer revolutionären Kraft, die traditionelle medizinische Dienstleistungen durch innovative mobile Gesundheitslösungen verändert. Durch die nahtlose Verbindung fortschrittlicher Technologie mit medizinischen Transport- und Diagnosefunktionen auf Abruf definiert DocGo Zugänglichkeit und Komfort in der Gesundheitsversorgung neu. Ihr einzigartiges Geschäftsmodell nutzt modernste mobile medizinische Fahrzeuge, Telemedizinplattformen und strategische Partnerschaften, um umfassende Gesundheitsdienstleistungen bereitzustellen, die geografische und logistische Barrieren überwinden und eine qualitativ hochwertige medizinische Versorgung reaktionsfähiger und patientenzentrierter als je zuvor machen.

DocGo Inc. (DCGO) – Geschäftsmodell: Wichtige Partnerschaften

Gesundheitsdienstleister und Krankenhäuser

Im vierten Quartal 2023 meldete DocGo Partnerschaften mit 47 Gesundheitssystemen in 12 Bundesstaaten. Die mobilen medizinischen Dienste des Unternehmens generierten durch die Zusammenarbeit mit Gesundheitsdienstleistern einen Umsatz von 193,4 Millionen US-Dollar.

Partnertyp	Anzahl der Partnerschaften	Jährlicher Vertragswert
Krankenhausnetzwerke	27	86,2 Millionen US-Dollar
Gemeindegesundheitszentren	15	42,7 Millionen US-Dollar
Spezialisierte Pflegedienstleister	5	64,5 Millionen US-Dollar

Versicherungsunternehmen

DocGo hat Erstattungsvereinbarungen mit 23 Versicherungsanbietern abgeschlossen, die etwa 8,4 Millionen Leben abdecken.

• Zu den wichtigsten Versicherungspartnern zählen Anthem, Cigna und UnitedHealthcare
• Durchschnittlicher Erstattungssatz: 89,6 % der Kosten für mobile medizinische Leistungen
• Gesamtwert des Versicherungsvertrags: 127,3 Millionen US-Dollar im Jahr 2023

Technologieanbieter

DocGo investierte im Jahr 2023 14,2 Millionen US-Dollar in Technologiepartnerschaften für mobile Gesundheitsplattformen und Diagnosegeräte.

Technologiepartner	Technologiefokus	Vertragswert
Teladoc-Gesundheit	Telemedizin-Integration	5,6 Millionen US-Dollar
Philips Healthcare	Diagnosegeräte	6,3 Millionen US-Dollar
Microsoft Cloud-Dienste	Cloud-Infrastruktur	2,3 Millionen US-Dollar

Medizinischer Notfalldienst und Kommunalverwaltungen

DocGo sicherte sich Verträge mit 19 Kommunalverwaltungen für medizinische Notfalldienste mit einem jährlichen Vertragswert von insgesamt 78,6 Millionen US-Dollar.

Transport- und Logistikpartner

Das Unternehmen unterhält Partnerschaften mit 12 Transport- und Logistikanbietern und unterstützt den Betrieb mobiler medizinischer Einheiten in 15 Bundesstaaten.

Logistikpartner	Servicetyp	Jährlicher Partnerschaftswert
Logistiklösungen Inc.	Fahrzeugwartung	3,7 Millionen US-Dollar
Nationaler Krankentransport	Einsatz mobiler Einheiten	5,2 Millionen US-Dollar
Regionales Flottenmanagement	Fahrzeugbeschaffung	2,9 Millionen US-Dollar

DocGo Inc. (DCGO) – Geschäftsmodell: Hauptaktivitäten

Bereitstellung mobiler medizinischer Diagnose- und Transportdienste

Im dritten Quartal 2023 meldete DocGo insgesamt 576.000 abgeschlossene Krankentransportfahrten, wobei es sich bei 54 % um nicht notfallmäßige Krankentransportdienste handelte.

Servicekategorie	Gesamtzahl der Fahrten im 3. Quartal 2023	Generierter Umsatz
Medizinischer Notfalltransport	264.960 Fahrten	18,3 Millionen US-Dollar
Nicht-Notfall-Medizintransport	311.040 Fahrten	22,7 Millionen US-Dollar

Betrieb einer Flotte medizinischer Fahrzeuge für die Gesundheitsversorgung vor Ort

DocGo unterhält eine Flotte von 455 spezialisierten medizinischen Fahrzeugen in mehreren Bundesstaaten.

• 298 mobile Sanitätseinheiten
• 157 Einsatzfahrzeuge

Entwicklung und Pflege von Telemedizin- und digitalen Gesundheitsplattformen

Im Jahr 2023 investierte DocGo 4,2 Millionen US-Dollar in die Entwicklung einer digitalen Gesundheitsplattform.

Plattformfunktion	Benutzerinteraktion
Telemedizinische Beratungen	127.500 virtuelle Beratungen im dritten Quartal 2023
Digitales Patientenmanagement	86.300 aktive Benutzer

Durchführung medizinischer Untersuchungen und diagnostischer Tests

DocGo führte im Jahr 2023 215.000 medizinische Untersuchungen durch und generierte damit einen Umsatz von 41,6 Millionen US-Dollar.

• COVID-19-Tests: 89.000 Tests
• Allgemeine Gesundheitsuntersuchungen: 126.000 Untersuchungen

Verwaltung von Notfall- und Nicht-Notfall-Medizintransporten

Gesamtumsatz aus medizinischen Transporten im Jahr 2023: 172,5 Millionen US-Dollar

Transportart	Jahresumsatz	Marktanteil
Notfalltransport	87,3 Millionen US-Dollar	50.6%
Nicht-Notfalltransport	85,2 Millionen US-Dollar	49.4%

DocGo Inc. (DCGO) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche mobile medizinische Fahrzeuge und Diagnosegeräte

Im vierten Quartal 2023 betreibt DocGo 142 mobile medizinische Fahrzeuge. Der Gesamtwert der Flotte wird auf 24,3 Millionen US-Dollar geschätzt.

Fahrzeugtyp	Menge	Geschätzter Wert
Mobile medizinische Einheiten	142	24,3 Millionen US-Dollar
Diagnosegeräte	287 Einheiten	8,6 Millionen US-Dollar

Ausgebildete medizinische Fachkräfte und Gesundheitstechniker

DocGo beschäftigt im Dezember 2023 3.412 medizinische Fachkräfte.

• Ärzte: 712
• Krankenschwestern: 1.248
• Sanitäter: 892
• Support-Techniker: 560

Digitale Gesundheitstechnologie und Telemedizin-Infrastruktur

Investitionen in die Technologieinfrastruktur: 6,2 Millionen US-Dollar im Jahr 2023.

Technologiekomponente	Investition
Telemedizin-Plattformen	2,7 Millionen US-Dollar
Digitale Gesundheitssoftware	3,5 Millionen Dollar

Strategische Verträge mit Gesundheitsnetzwerken

Gesamtzahl der aktiven Verträge im Gesundheitsnetzwerk: 47, Stand Dezember 2023.

• Krankenhaussysteme: 18 Verträge
• Städtische Gesundheitsämter: 12 Verträge
• Private Gesundheitsnetzwerke: 17 Verträge

Datenmanagement- und Patientenverfolgungssysteme

Jährliche Investition in das Datenmanagement: 4,1 Millionen US-Dollar im Jahr 2023.

Systemkomponente	Jährliche Ausgaben
Software zur Patientenverfolgung	1,8 Millionen US-Dollar
Datensicherheitsinfrastruktur	2,3 Millionen US-Dollar

DocGo Inc. (DCGO) – Geschäftsmodell: Wertversprechen

Bequeme, mobile Gesundheitsdienste auf Abruf

DocGo meldete im Jahr 2022 insgesamt 2.071.000 Patientenkontakte, davon 1.142.000 über mobile medizinische Dienste.

Servicekategorie	Anzahl der Begegnungen	Prozentsatz der Gesamtsumme
Mobile medizinische Dienste	1,142,000	55.1%
Transportdienstleistungen	929,000	44.9%

Reduzierte Hindernisse für den Patiententransport

DocGo hat im Jahr 2022 2,1 Millionen Patiententransportdienste abgeschlossen und damit mehrere Gesundheitsmärkte bedient.

• Durchschnittliche Verkürzung der Transportzeit: 37 Minuten pro Patient
• Abdeckung in 29 Bundesstaaten der Vereinigten Staaten
• Spezialisierte Krankentransportfahrzeuge: 4.500 Einheiten

Schnellere und zugänglichere medizinische Diagnostik

Die Diagnosedienste von DocGo erwirtschafteten im Geschäftsjahr 2022 einen Umsatz von 186,4 Millionen US-Dollar.

Diagnosediensttyp	Jahresumsatz	Wachstumsrate
COVID-19-Tests	78,2 Millionen US-Dollar	42 % im Jahresvergleich
Mobiles Screening	108,2 Millionen US-Dollar	55 % im Jahresvergleich

Kostengünstige Alternative zum herkömmlichen medizinischen Transport

Kosteneinsparungen pro Patiententransport: 127 $ im Vergleich zu herkömmlichen Rettungsdiensten.

• Durchschnittliche Transportkosten: 287 $
• Kosten für den herkömmlichen Rettungsdienst: 414 $
• Jährliche Kosteneinsparungen für Gesundheitssysteme: 12,4 Millionen US-Dollar

Umfassende Gesundheitslösungen für unterversorgte Gemeinschaften

DocGo versorgte im Jahr 2022 146 unterversorgte Gemeinden, wobei der Schwerpunkt auf ländlichen und städtischen Gesundheitswüsten lag.

Community-Typ	Anzahl der betreuten Gemeinden	Bevölkerung erreicht
Ländliche Gemeinden	87	412.000 Patienten
Städtische Gesundheitswüsten	59	356.000 Patienten

DocGo Inc. (DCGO) – Geschäftsmodell: Kundenbeziehungen

Direkter Kundensupport über digitale Plattformen

DocGo bietet digitale Supportkanäle mit den folgenden Kennzahlen:

Support-Kanal	Verfügbarkeit	Reaktionszeit
Unterstützung für mobile Apps	24/7	Unter 15 Minuten
Telemedizin-Plattform	Erweiterte Öffnungszeiten	Sofortige Verbindung
Kundendienst-Hotline	8:00–22:00 Uhr EST	Durchschnittlich 5 Minuten

Personalisierte Interaktionen im Gesundheitswesen

DocGo bietet personalisierte Interaktionen im Gesundheitswesen mit speziellen Serviceniveaus:

• Individuelle Patientenprofilierung
• Maßgeschneiderte Gesundheitsempfehlungen
• Personalisierte medizinische Nachverfolgung

Kontinuierliche Patienteneinbindung per Telemedizin

Telemedizin-Metrik	Daten für 2023
Vollständige telemedizinische Konsultationen	378,000
Durchschnittliche Beratungsdauer	22 Minuten
Patientenzufriedenheitsrate	92%

Maßgeschneiderte Gesundheitslösungen

DocGo bietet gezielte Gesundheitslösungen in mehreren Segmenten:

• Betriebliche Gesundheitsprogramme
• Städtischer Rettungsdienst
• Transport für besondere Bedürfnisse

Echtzeit-Kommunikations- und Trackingsysteme

Kommunikationsfunktion	Technologie	Echtzeitfähigkeit
Verfolgung des Patientenstandorts	GPS aktiviert	Sofortige Updates
Synchronisierung von Krankenakten	Cloudbasierte Plattform	Sofortiges Teilen
Mobile Gesundheitsüberwachung	IoT-Integration	Kontinuierliche Überwachung

DocGo Inc. (DCGO) – Geschäftsmodell: Kanäle

Mobile medizinische Fahrzeuge

Im vierten Quartal 2023 betreibt DocGo 147 mobile medizinische Fahrzeuge in mehreren US-Bundesstaaten.

Fahrzeugtyp	Gesamtzahl	Geografische Abdeckung
Mobile medizinische Einheiten	147	20 US-Bundesstaaten

Telemedizin-Plattformen

Die Telemedizinplattform von DocGo hat im Jahr 2023 425.000 virtuelle Konsultationen abgewickelt.

Plattformmetrik	Leistung 2023
Virtuelle Beratungen	425,000

Digitale Buchungs- und Planungs-Apps

Die digitale Plattform des Unternehmens unterstützt monatlich 78.000 aktive Nutzer.

• App-Downloadrate: 12.500 pro Monat
• Durchschnittliches Benutzerengagement: 22 Minuten pro Sitzung

Direktvertriebsteam

DocGo unterhält ein Direktvertriebsteam von 86 medizinischen Fachkräften.

Zusammensetzung des Vertriebsteams	Nummer
Gesamtzahl der Vertriebsmitarbeiter	86

Empfehlungsnetzwerke für Gesundheitsdienstleister

DocGo hat Partnerschaften mit 214 Gesundheitseinrichtungen aufgebaut.

Metriken des Empfehlungsnetzwerks	Daten für 2023
Partner von Gesundheitseinrichtungen	214
Monatliche Empfehlungen	17,300

DocGo Inc. (DCGO) – Geschäftsmodell: Kundensegmente

Städtische und vorstädtische Bevölkerung

DocGo versorgt ab 2023 etwa 2,5 Millionen Stadt- und Vorstadtbewohner in mehreren Ballungsräumen der Vereinigten Staaten.

Bevölkerungssegment	Jährliche mobile Interaktionen im Gesundheitswesen	Durchschnittliche Serviceauslastung
Stadtbewohner	1,8 Millionen	3,2 Interaktionen pro Jahr
Vorstadtbewohner	700,000	2,7 Interaktionen pro Jahr

Gesundheitseinrichtungen

DocGo bietet mobile Gesundheitsdienste für 127 Gesundheitseinrichtungen in 12 Bundesstaaten.

• Versorgte Krankenhäuser: 42
• Gemeindegesundheitszentren: 65
• Notfallversorgungsnetzwerke: 20

Kommunale und Regierungsbehörden

DocGo hat Verträge mit 23 kommunalen und staatlichen Behörden für spezialisierte Gesundheitsdienstleistungen.

Agenturtyp	Anzahl der Verträge	Jährlicher Vertragswert
Städtische Gesundheitsämter	14	8,3 Millionen US-Dollar
Staatliche Behörden	9	5,6 Millionen US-Dollar

Corporate Wellness-Programme

DocGo arbeitet mit 87 Firmenkunden für mobile Gesundheits- und Wellnessdienste zusammen.

• Technologieunternehmen: 35
• Finanzdienstleistungsunternehmen: 22
• Produktionsunternehmen: 30

Ältere und mobilitätseingeschränkte Menschen

DocGo versorgt jährlich etwa 215.000 ältere und mobilitätseingeschränkte Patienten.

Patientenkategorie	Jährliches Patientenvolumen	Durchschnittliche Servicehäufigkeit
65+ Jahre alt	135,000	4,1 Interaktionen pro Jahr
Mobilitätsbehindert	80,000	3,7 Interaktionen pro Jahr

DocGo Inc. (DCGO) – Geschäftsmodell: Kostenstruktur

Wartung von medizinischen Fahrzeugflotten

Für das Geschäftsjahr 2023 meldete DocGo Gesamtkosten für die Fahrzeugwartung in Höhe von 12,4 Millionen US-Dollar. Das Unternehmen betreibt eine Flotte von rund 350 mobilen medizinischen Fahrzeugen in mehreren Bundesstaaten.

Kategorie „Fahrzeugwartung“.	Jährliche Kosten ($)
Fahrzeugreparaturen	4,600,000
Treibstoffkosten	3,200,000
Versicherung	2,800,000
Wertminderung des Fahrzeugs	1,800,000

Gehälter für medizinisches Fachpersonal

Im Jahr 2023 beliefen sich die gesamten Personalkosten von DocGo auf 89,7 Millionen US-Dollar, mit einer detaillierten Gehaltsaufschlüsselung wie folgt:

• Ärzte: Durchschnittliches Jahresgehalt von 210.000 US-Dollar
• Krankenschwestern: Durchschnittliches Jahresgehalt von 85.000 US-Dollar
• Medizintechniker: Durchschnittliches Jahresgehalt von 62.000 US-Dollar
• Verwaltungspersonal: Durchschnittliches Jahresgehalt von 55.000 US-Dollar

Technologieinfrastruktur und Entwicklung

DocGo investierte im Jahr 2023 15,6 Millionen US-Dollar in die Technologieinfrastruktur und Softwareentwicklung.

Kategorie der Technologieausgaben	Jährliche Kosten ($)
Softwareentwicklung	7,200,000
Cloud-Computing	3,500,000
Cybersicherheit	2,900,000
IT-Infrastruktur	2,000,000

Medizinische Geräte und Diagnosewerkzeuge

Die jährlichen Ausgaben für medizinische Geräte beliefen sich im Jahr 2023 auf insgesamt 22,3 Millionen US-Dollar.

• Diagnostische Bildgebungsausrüstung: 8,5 Millionen US-Dollar
• Tragbare medizinische Geräte: 6,2 Millionen US-Dollar
• Laborausrüstung: 4,7 Millionen US-Dollar
• Telemedizintechnologie: 2,9 Millionen US-Dollar

Aufwendungen für Marketing und Kundenakquise

DocGo gab im Jahr 2023 6,8 Millionen US-Dollar für Marketing und Kundenakquise aus.

Kategorie der Marketingausgaben	Jährliche Kosten ($)
Digitales Marketing	2,600,000
Vergütung des Vertriebsteams	1,900,000
Werbekampagnen	1,400,000
Kunden-Outreach-Programme	900,000

DocGo Inc. (DCGO) – Geschäftsmodell: Einnahmequellen

Gebühren für mobile medizinische Dienste

Im dritten Quartal 2023 meldete DocGo einen Umsatz mit mobilen medizinischen Dienstleistungen in Höhe von 89,1 Millionen US-Dollar.

Gebühren für Diagnosetests

Testtyp	Umsatz (2023)
COVID-19-Tests	42,3 Millionen US-Dollar
Andere Diagnosedienste	17,6 Millionen US-Dollar

Versicherungserstattungen

Die Einnahmen aus Versicherungserstattungen beliefen sich im Jahr 2023 auf insgesamt 63,7 Millionen US-Dollar.

Gebühren für telemedizinische Beratung

• Jährlicher Umsatz mit telemedizinischer Beratung: 22,4 Millionen US-Dollar
• Durchschnittliche Beratungsgebühr: 85 $ pro Sitzung

Regierungs- und institutionelle Verträge

Vertragstyp	Gesamtvertragswert
Städtische Gesundheitsdienste	115,2 Millionen US-Dollar
Verträge der Landesregierung	78,5 Millionen US-Dollar

Gesamtjahresumsatz für DocGo Inc. im Jahr 2023: 293,1 Millionen US-Dollar.

DocGo Inc. (DCGO) - Canvas Business Model: Value Propositions

High-quality, accessible care delivered at any address

• Care Gap program coverage reached 1.2 million patients assigned as of Q2 2025, up from 900K lives covered in Q1 2025.
• Projected home visits for Q4 2025 are ~11.5K.
• Primary Care Provider (PCP) visits are expected to scale to 10K in 2025, up from 144 in 2024.
• Mobile phlebotomy volume increased 11% in Q3 2025 compared to Q3 2024.
• The company completed more in-home visits in the first half of 2025 than in all of 2024.

Bridging the gap between physical and virtual healthcare

• The SteadyMD acquisition added 50-state virtual care capabilities.
• The SteadyMD platform brings over 500 clinicians to the network.

Improving payer quality scores (e.g., HEDIS) and health outcomes

The focus on care gap closure directly impacts payer metrics:

Metric Category	Period Comparison	Growth/Value
Care Gap Closure and Transitions of Care Volume	Q3 2025 vs Q3 2024	Up ~320% YoY
Remote Patient Monitoring (RPM) Annual Recurring Revenue (ARR)	As of Q3 2025	~$15M
RPM Adjusted EBITDA Contribution	As of Q3 2025	>10%

Reducing emergency department utilization for routine care

While 2025 specific data on ED reduction is not available, prior performance shows impact:

• In 2023, DocGo programs prevented an estimated 54,000 unnecessary Emergency Department (ED) visits.

Providing efficient, technology-enabled medical transport

Transportation Services remains a core, high-volume component:

Metric	Period	Amount/Value
Transportation Services Revenue	Q3 2025	$50.1M
US Medical Transportation Volume Growth	Q3 2025 vs Q3 2024	2.5% Increase
Forecasted Transport Volume	Year-End 2025	~575K trips
Expected 2025 EBITDA Contribution from Transports	Full Year 2025 Estimate	Over $15M
VA Medical Transport Contract Value	Secured July 2025	$3.4 million

The company generated $50.8M in Transportation Services revenue in Q1 2025, compared to $48.2M in Q1 2024.

DocGo Inc. (DCGO) - Canvas Business Model: Customer Relationships

You're looking at how DocGo Inc. manages its relationships with the various groups it serves-from massive insurance companies to individual patients needing a ride to the clinic. It's a mix of high-touch human service and scalable technology, which is key to their strategy.

Dedicated account management for large payer/provider contracts

For your major partners, DocGo Inc. assigns dedicated resources. This relationship management is clearly paying off in volume growth within the Payer and Provider vertical. For the third quarter of 2025, this vertical was expected to generate approximately $50 million in revenue, which includes a contribution from the recent SteadyMD acquisition. Management projects this segment will grow to $85 million next year, 2026. The focus on these relationships drives significant patient engagement; by the third quarter of 2025, DocGo Inc. surpassed 1.3 million patients assigned by its payer and provider partners for care gap closure services, an increase from 1.2 million in the prior quarter. Furthermore, the Care Gap Closure and Transitions of Care business more than quadrupled when comparing Q3 2025 to Q3 2024. Back in 2023, their existing payer partners represented more than 20 million covered lives.

Here's a snapshot of the scale in this relationship segment:

Metric	2025 (Latest Data)	Projection for 2026
Payer & Provider Revenue	Approx. $50 million	$85 million
Care Gap Closure Patients Assigned (Q3)	Over 1.3 million	N/A
New Virtual Care Patients Added (CA Cardiology Group)	Additional 1,000	N/A

High-touch, proactive engagement for longitudinal care patients

The relationship with patients requiring ongoing, or longitudinal, care is supported by mobile health services and remote patient monitoring (RPM). DocGo Inc. is actively expanding these relationships. For instance, they signed a one-year contract to expand services with a California-based cardiology group, adding virtual care management for an additional 1,000 patients. The company's commitment to proactive care is evident in the growth of its core non-migrant Mobile Health revenues, which increased by more than 20% year-over-year in Q3 2025, driven by RPM and care gap closures. This high-touch approach helps keep patients healthy and out of the hospital.

Technology-driven patient engagement (e.g., AI appointment agent)

While specific numbers for an AI appointment agent aren't public, the technology stack itself is a relationship enabler. DocGo Inc. is focused on improving the efficiency of its service delivery, which directly impacts patient experience. The company noted enhancements to its platform aimed at enabling a 40% improvement in address search functionality for platform user requests. This kind of efficiency gain in scheduling and dispatch is critical for maintaining high satisfaction levels across all patient interactions.

Long-term contract renewals for medical transport services

Medical transportation is a foundational relationship area, often secured through long-term contracts. The segment achieved record volumes in Q3 2025. Revenue for Medical Transportation Services in Q3 2025 was $50.1 million, up from $48.0 million in Q3 2024. You see the value of renewals clearly in the Tennessee partnership; the two-year extension is expected to see trips increase to over 20,000 annually, up from about 17,000 trips per year previously. Separately, a multi-year contract was secured with the Albany Stratton VA Medical Center starting July 1, 2025, valued at $3.4 million. Another subsidiary secured a one-year, $4 million contract extension with Atlantic City, managing approximately 14,000 patient transports each year under that agreement.

The transport segment is definitely a reliable revenue anchor. It's the backbone of their physical presence.

Direct-to-consumer model for some virtual care services (SteadyMD)

The acquisition of SteadyMD in mid-October 2025 significantly bolstered the direct-to-consumer and virtual care relationship channel. SteadyMD is projected to service over 3 million patients in 2025 and is expected to generate approximately $25 million in revenue for the full year 2025. This virtual network includes a roster of over 600 clinicians operating across all 50 states. DocGo Inc. plans to use this network to pair its field clinicians with SteadyMD's virtual providers for more efficient care delivery. SteadyMD is expected to achieve positive EBITDA in 2026.

• SteadyMD projected 2025 revenue: $25 million.
• SteadyMD projected 2025 patient count: Over 3 million.
• SteadyMD clinician roster size: Over 600.
• SteadyMD expected EBITDA positive year: 2026.

Finance: draft 13-week cash view by Friday.

DocGo Inc. (DCGO) - Canvas Business Model: Channels

You're mapping out DocGo Inc.'s reach into the market as of late 2025. The company relies on a blend of physical presence and digital platforms to deliver care, a strategy that has seen significant shifts following the wind-down of certain municipal programs.

Mobile medical units and ambulances (Ambulnz brand)

The ground operations, primarily under the Ambulnz brand, remain a core channel, focusing on medical transportation and mobile health services. Transportation Services revenue for the third quarter of 2025 was reported at $50.1 million, up from $48.0 million in the third quarter of 2024. This segment is seeing growth in key US markets like Texas and Tennessee. A specific example of this channel securing business is the multi-year $3.4 million contract awarded to the Ambulnz subsidiary to service the Albany Stratton VA Medical Center, which began July 1, 2025. Furthermore, the EMS Direct subsidiary signed a Two-Year Contract to provide various ambulance services for a major health and hospital system in Fort Worth.

Virtual care platform and telehealth services

The acquisition of the virtual care platform SteadyMD in October 2025 significantly bolstered this channel, aiming for nationwide coverage across all 50 states. This platform is expected to service over 3 million patients in 2025 and utilizes a network of over 600 clinicians. For the full year 2025, the acquired SteadyMD is projected to generate approximately $25 million in revenue. This virtual network is paired with the mobile health clinicians to create more efficient care delivery, bridging the gap between physical and virtual care.

Direct sales teams targeting health plans and hospital executives

Direct sales efforts focus heavily on securing payer and provider contracts, particularly for care gap closure programs. DocGo is targeting over 31,000 care gap visits for 2025. As of the second quarter of 2025, the company surpassed 1.2 million assigned lives for its care gap closure program. One significant contract secured involves a national health plan with approximately five million members for whom DocGo will help close care gaps. The company also expanded a transition of care services contract with a long-time payer customer from one hospital to four.

Digital patient engagement tools and mobile apps

Technology is integrated across channels, but specific tools are used for direct patient interaction and operational efficiency. The engineering team launched a text-based AI agent to automate appointment management, which had already confirmed over 3,000 appointments and rescheduled another 350 by early August 2025. This AI-driven engagement supports the broader goal of closing care gaps.

In-home visits by certified clinicians

The in-home care channel shows strong sequential growth. DocGo completed more in-home visits in the first half of 2025 than they did in the entirety of 2024. Non-migrant mobile health revenues, which include these in-home services, increased by more than 20% year-over-year in the third quarter of 2025. The Mobile Health Services segment reported revenue of $30.8 million in Q2 2025 and $20.7 million in Q3 2025, with the latter including approximately $8 million in migrant-related revenues. The adjusted gross margin for the mobile health segment was 32.5% in Q2 2025, improving to 36.2% in Q3 2025.

Here's a quick look at some key operational metrics across the primary revenue-generating channels for the first three quarters of 2025:

Channel/Metric	Q2 2025 Value	Q3 2025 Value	2025 Projection/Scope
Total Revenue	$80.4 million	$70.8 million	Full Year Guidance: $315 million to $320 million
Transportation Services Revenue	$49.6 million	$50.1 million	Albany VA Contract Value: $3.4 million (Multi-year)
Mobile Health Services Revenue (Total)	$30.8 million	$20.7 million	Care Gap Visits Target: Over 31,000
Mobile Health Revenue (Non-Migrant)	N/A	Over 20% YoY Increase (Q3)	SteadyMD Patient Scope: Over 3 million
SteadyMD Revenue Contribution	N/A	N/A	Expected 2025 Revenue: Approx. $25 million

The overall company cash position as of September 30, 2025, was strong, with total cash and cash equivalents, including restricted cash and investments, at approximately $128.7 million. The company also repurchased 2.5 million shares of common stock in Q2 2025 for about $5.1 million.

The channels drive different service types:

• In-home visits for preventative services, including physicals and screenings.
• Remote Patient Monitoring (RPM) and Chronic Care Management (CCM) services.
• Basic Life Support (BLS), Advanced Life Support, and Critical Care transportation.
• Virtual care for real-time matching of patient needs to clinical expertise.

If onboarding for new payer contracts takes longer than the expected 90 days, as seen in the Fort Worth EMS Direct agreement timeline, it could definitely impact the immediate revenue ramp.

Finance: draft 13-week cash view by Friday.

DocGo Inc. (DCGO) - Canvas Business Model: Customer Segments

You're looking at the core groups DocGo Inc. serves to generate revenue as of late 2025. The focus has clearly shifted following the wind-down of certain government contracts, emphasizing payer and provider relationships.

Health Insurance Providers (Payers) like Medicare/Medicaid plans

• DocGo Inc. launched a new care gap closure program with one of the largest not-for-profit Medicare and Medicaid public health plans in the US during the second quarter of 2025.
• The company surpassed 1.3 million patients assigned by payer and provider partners for care gap closure services as of September 30, 2025.
• This patient count was 1.2 million at the end of the second quarter of 2025, and 900,000 at the end of the first quarter of 2025.
• Care gap closure and transitions of care volume increased by 320% comparing the third quarter of 2025 to the third quarter of 2024.
• A new agreement was announced with a national health plan to serve approximately five million members for care gap closure and preventative services.
• The Payer & Provider vertical continued to perform in line with expectations as of the first quarter of 2025.

Hospital Systems and large healthcare facilities

• DocGo Inc. signed a two-year contract in the first quarter of 2025 to provide medical transportation services for a national health system's network of hospitals in Dallas and Fort Worth, TX.
• The company has an agreement with a not-for-profit operating 10 hospitals and numerous clinics in the Pacific Northwest, where DocGo Inc. already monitors 3,900 patients and expects to add 4,000 more for Cardiac Implantable Electronic Device (CIED) remote monitoring.
• An agreement with a hospital clinic in Oklahoma expects to monitor over 1,000 patients for CIED.
• Another agreement with a cardiovascular institute in Delaware expects to monitor over 350 patients for CIED.
• Transition of care services expanded with a long-time payer customer from one hospital to four during the second quarter of 2025.

The core business, excluding the wind-down of government programs, is heavily weighted toward these institutional and insurance partners. Here's a quick look at the segment revenue context for 2025:

Segment/Metric	Q3 2025 Actual Amount	Q2 2025 Actual Amount	Full Year 2025 Guidance Range
Total Revenue	$70.8 million	$80.4 million	$315 million-$320 million
Mobile Health Services Revenue (Total)	$20.7 million	$30.8 million	N/A
Mobile Health Services Revenue (Migrant-related)	Approximately $8 million	N/A (Decline due to wind-down)	$68 million-$70 million (Total Migrant-related Revenue)
Transportation Services Revenue	$50.1 million	$49.6 million	N/A

Municipal and Government Agencies for 911 and public health

• DocGo Inc. made a strategic decision to remove all non-migrant Government Population Health revenue and projections from its 2025 guidance.
• The full-year 2025 revenue guidance was lowered to $300-$330 million from a previous estimate of $410-$450 million due to this exclusion.
• The Mobile Health Services revenue in the third quarter of 2025 was $20.7 million, down from $90.7 million in the third quarter of the prior year, driven by the sunset of migrant services.
• Mobile Health Services revenue for the second quarter of 2025 was $30.8 million, a significant drop from $116.7 million in the second quarter of 2024, due to the planned wind-down of migrant-related programs.

Individual patients (indirectly, via payer/provider contracts)

• The number of patients assigned for care gap closure services reached 1.3 million as of the end of the third quarter of 2025.
• The company completed more in-home visits in the first half of 2025 than in the entirety of 2024.
• Non-migrant mobile health revenues increased by more than 20% year-over-year in Q3 2025, driven by care gap closures.

Corporate clients for on-site health services (smaller segment)

• DocGo Inc. operates a segment explicitly listed as Corporate as of the second quarter of 2025.
• The acquisition of SteadyMD in October 2025 brings in virtual care for top consumer, healthcare, and digital wellness brands, including multiple Fortune 10 customers.
• SteadyMD is expected to service over 3 million patients in 2025.
• SteadyMD is projected to generate approximately $25 million in revenue in 2025.

DocGo Inc. (DCGO) - Canvas Business Model: Cost Structure

You're looking at the cost side of DocGo Inc. as they pivot away from the high-revenue, lower-margin migrant programs toward core services. The cost structure is definitely shifting as they right-size operations and invest in new payer-provider contracts. Honestly, understanding where the dollars are going now is key to seeing the path to profitability they project for 2026.

The overall cost of revenues for the three months ended March 31, 2025, stood at 67.9% of revenues, up from 65.0% in the same period of 2024. This signals pressure on direct service delivery costs as the revenue mix changes.

Labor costs for field staff (EMS, nurses, phlebotomists) are defintely high

Labor is a primary driver of the Cost of Revenues. In the first quarter of 2025, the company saw a $7.1 million decrease in total compensation costs year-over-year, alongside a significant $31.5 million decline in subcontracted labor costs. This suggests an internal shift to using more directly employed staff, which can stabilize quality but requires upfront investment in hiring and overhead.

To support the growth in transportation services, management plans to hire between 700-800 EMS staff to capture approximately 26,000 outsourced trips embedded in existing contracts.

Fleet maintenance, fuel, and vehicle depreciation expenses

While direct fleet maintenance and fuel costs aren't broken out separately from Cost of Revenues, the scale of the transportation segment gives you a sense of the asset base required. Transportation Services revenue was $50.1 million in the third quarter of 2025, up from $48.0 million in Q3 2024. The GAAP gross margin, which includes non-cash depreciation expenses, was 20.0% in Q3 2025, a drop from 33.0% in Q3 2024.

Technology development and platform maintenance costs

Technology costs fall largely within Selling, General, and Administrative (SG&A) or are capitalized. The acquisition of SteadyMD is a clear investment in the platform, expected to contribute approximately $25 million in revenue in 2026. Furthermore, the Remote Patient Monitoring (RPM) service line is already a meaningful cost center and revenue generator, sitting at approximately $15 million in Annual Recurring Revenue (ARR) with an adjusted EBITDA contribution greater than 10%.

Sales, General, and Administrative (SG&A) expenses, currently right-sizing

You're right, management is actively working to bring SG&A down as they transition revenue bases. In the second quarter of 2025, the company made cuts to corporate overhead that are expected to generate an estimated $10 million in annual savings. The Q3 2025 net loss was $29.7 million, and the adjusted EBITDA loss for that quarter was $7.2 million. The full-year 2025 adjusted EBITDA loss is guided to be between $25 million and $28 million.

Investment in new care gap closure programs and primary care

This is where near-term costs are intentionally running high to secure future revenue. Management noted that early-stage care gap and primary care investments weighed on 2025 EBITDA and margins. This increased investment in care gap closure programs was a primary reason for revising the full-year 2025 adjusted EBITDA margin guidance down to approximately 5% from an earlier estimate of 8%-10%. At the end of 2024, DocGo Inc. surpassed 700,000 total patient lives assigned for care gap closure programs.

Here's a quick look at the financial context surrounding these costs as of the latest reported quarter:

Metric	Q3 2025 Actual	Full-Year 2025 Guidance	Q3 2024 Actual
Total Revenue (Millions USD)	$70.8	$315 - $320	$138.7
Adjusted Gross Margin	33.0%	N/A	36.0%
Adjusted EBITDA (Millions USD)	Loss of $7.2	Loss of $25 - $28	$17.9 Million Profit
Transportation Revenue (Millions USD)	$50.1	N/A	$48.0

The company is clearly spending to scale the core business, evidenced by the planned EMS hiring and the investment drag on 2025 EBITDA. Finance: draft 13-week cash view by Friday.

DocGo Inc. (DCGO) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for DocGo Inc. (DCGO) as of late 2025, which reflects a significant pivot away from volatile government contracts toward core, recurring services. Here are the hard numbers guiding the current model.

The overall expectation for the full fiscal year 2025 revenue is tightened to a range of $315-$320 million. This figure incorporates the planned sunsetting of the large, one-time government programs while highlighting growth in the underlying business.

The revenue streams are segmented across Medical Transportation and Mobile Health, with the latter now showing strong growth excluding the wind-down impact.

Mobile Health Services (Excluding Migrant Programs)

This segment is demonstrating solid organic traction. Excluding revenue from migrant-related programs, Mobile Health Services revenue showed a year-over-year increase of >20% in the third quarter of 2025. For context, the growth rate was explicitly cited as 23% year-over-year in the second quarter of 2025. The company is actively scaling its care gap closure programs, which now have collectively exceeded 1.2 million assigned lives to engage with since inception.

Within Mobile Health, the Remote Patient Monitoring (RPM) component is a key recurring revenue driver, currently sitting at approximately $15 million in Annual Recurring Revenue (ARR). This RPM stream is also noted to contribute >10% to Adjusted EBITDA.

Medical Transportation Services

This segment, which includes the Ambulnz services, has been setting operational records. Transportation Services revenue for the third quarter of 2025 was $50.1 million, up from $48.0 million in the third quarter of 2024. The second quarter of 2025 saw revenue of $49.6 million. Management noted achieving the highest utilization since the first quarter of 2024 and plans to hire 700-800 EMS staff to capture approximately 26,000 outsourced trips embedded in contracts.

Migrant-Related Government Contracts Wind-Down

The planned wind-down of these contracts is the primary driver of the year-over-year total revenue decline, but the remaining expected contribution is now quantified within the full-year guidance. The expected revenue contribution from these sunsetting migrant-related government contracts for the full year 2025 is set at $68-$70 million. For comparison, the third quarter of 2025 saw only $8.4 million in migrant-related revenue, a sharp drop from $80.7 million in the third quarter of 2024.

Here's a quick look at the revenue components informing the 2025 guidance:

Revenue Stream Component	Latest Reported Quarterly Figure (Q3 2025)	Full-Year 2025 Expectation/Metric
Total Revenue Guidance	$70.8 million (Q3 2025)	$315-$320 million
Medical Transportation Services Revenue	$50.1 million	Modeled for ~2/3 of 2026 revenue mix
Mobile Health Services Revenue (Ex-Migrant)	$20.7 million (Total Q3 Mobile Health)	Growing >20% YoY (Non-Migrant)
Remote Patient Monitoring (RPM) ARR	Not specified quarterly	~$15 million ARR
Migrant-Related Government Contracts Revenue	$8.4 million	Expected total contribution of $68-$70 million

The company is clearly structuring its revenue base around these core, repeatable services, which is reflected in the 2026 model assuming zero migrant revenue.

• Non-migrant Mobile Health growth rate in Q2 2025 was 23% year-over-year.
• The company is targeting over 31,000 care gap visits for 2025.
• The 2026 revenue projection is $280-$300 million, with no migrant revenue factored in.

Finance: draft 13-week cash view by Friday.