agilon health, inc. (AGL): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Navegando por el complejo panorama de la innovación de la salud, Agilon Health, Inc. (AGL) emerge como una fuerza transformadora en la prestación de atención de Medicare Advantage. Al reinventar la atención primaria a través de un sofisticado lienzo de modelo de negocio, la compañía orquesta estratégicamente un ecosistema integral que armoniza tecnología, redes médicas y soluciones centradas en el paciente. Con $ 1.4 mil millones En los ingresos anuales y un enfoque centrado en el láser para la atención médica basada en el valor, Agilon Health representa un modelo innovador que promete revolucionar cómo las poblaciones superiores experimentan servicios médicos, combinando ideas basadas en datos con coordinación de atención personalizada.

Agilon Health, inc. (AGL) - Modelo de negocio: asociaciones clave

Proveedores de atención médica y grupos médicos

A partir del cuarto trimestre de 2023, Agilon Health tiene asociaciones con más de 1,200 médicos de atención primaria en 7 estados. Valor de red total estimado en $ 1.2 mil millones en gasto médico anual.

Estado	Número de grupos médicos	Vidas totales del paciente manejadas
Arizona	287	185,000
Florida	213	142,000
Texas	356	226,000

Planes de seguro de Medicare Advantage

La cobertura de la asociación incluye 8 planes principales de Medicare Advantage con contratos valorados en $ 350 millones en 2023.

• UnitedHealthcare
• Humana
• Cigna
• Aetna

Compañías de tecnología y análisis de datos

Las asociaciones tecnológicas incluyen $ 45 millones invertidos en plataformas de infraestructura y análisis de datos en 2023.

Pareja	Enfoque tecnológico	Valor de contrato
Tecnologías Palantir	Análisis de datos	$ 12.5 millones
Sistemas épicos	Inteligencia de atención médica	$ 18.3 millones

Proveedores de sistemas de registro de salud electrónica (EHR)

Las asociaciones de EHR cubren el 85% de los proveedores de redes con inversiones de integración de $ 22.7 millones en 2023.

• Sistemas épicos
• Corporación Cerner
• Allscripts

Fabricantes de equipos y suministros médicos

Las asociaciones de la cadena de suministro totalizan $ 78.6 millones en valor de adquisición para 2023.

Fabricante	Categoría de productos	Valor de adquisición anual
Medtrónico	Equipo de diagnóstico	$ 24.3 millones
Salud cardinal	Suministros médicos	$ 35.2 millones

Agilon Health, inc. (AGL) - Modelo de negocio: actividades clave

Coordinación y gestión de atención primaria

A partir del cuarto trimestre de 2023, Agilon Health administra aproximadamente 300,000 Vidas de Medicare Advantage en 11 estados. La compañía trabaja con 2.200 médicos de atención primaria en redes de salud integradas.

Métrico	Valor
Vidas de ventaja total de Medicare manejadas	300,000
Número de estados con operaciones	11
Médicos de atención primaria en red	2,200

Modelos de prestación de atención basados ​​en el valor

Agilon Health se centra en la reducción del costo total de la atención a través de contratos avanzados de atención basados ​​en el valor. En 2023, la compañía reportó $ 1.2 mil millones en ingresos totales con un 87% derivado de los arreglos de atención basados ​​en el valor.

• Porcentaje total de ingresos por atención basados ​​en el valor: 87%
• Contratos de portador de riesgos: 65% de los contratos de atención total
• Ahorro promedio por miembro por mes: $ 270

Análisis de datos de salud del paciente

La compañía utiliza plataformas tecnológicas patentadas que procesan más de 5 millones de puntos de datos del paciente anualmente. La inversión en tecnología de análisis de datos alcanzó los $ 42 millones en 2023.

Métrica de análisis de datos	Valor anual
Puntos de datos del paciente procesados	5,000,000
Inversión tecnológica	$42,000,000

Optimización del plan de Medicare Advantage

Agilon Health se dirige a los mercados de Medicare Advantage con un sofisticado ajuste de riesgos y estrategias de diseño del plan. La penetración actual del mercado de Medicare Advantage es de 2.3% a nivel nacional.

• Cuota de mercado nacional de Medicare Advantage: 2.3%
• Calificación de estrella del plan promedio de Medicare Advantage: 4.2/5
• Crecimiento proyectado de la inscripción de Medicare Advantage: 12% anual

Desarrollo de la plataforma tecnológica

La inversión en infraestructura tecnológica totalizó $ 78 millones en 2023, centrándose en el software integrado de gestión de atención y las capacidades de análisis predictivo.

Métrica de desarrollo tecnológico	Valor
Inversión tecnológica anual	$78,000,000
Tamaño del equipo de desarrollo de software	175 ingenieros

Agilon Health, inc. (AGL) - Modelo de negocio: recursos clave

Plataforma de tecnología de salud patentada

A partir del cuarto trimestre de 2023, la plataforma de tecnología de Agilon Health admite 71 mercados de atención basados ​​en el valor en 20 estados. La plataforma procesa aproximadamente 1,2 millones de pacientes viviendo bajo administración.

Métrica de plataforma	Valor cuantitativo
Mercados totales cubiertos	71
Estados operativos	20
Vidas del paciente manejadas	1.2 millones

Red de médicos de atención primaria

A partir de 2023, la red médica de Agilon Health comprende 3.200 proveedores de atención primaria en múltiples estados.

• Médicos de atención primaria total: 3.200
• Tamaño promedio del panel del paciente: 375 pacientes por médico
• Especialidades representadas: medicina familiar, medicina interna, geriatría

Capacidades de análisis de datos e información

La infraestructura de análisis de datos de la compañía procesa más de 50 terabytes de datos de salud mensualmente, utilizando algoritmos avanzados de aprendizaje automático.

Capacidad analítica	Métrico
Datos mensuales procesados	50+ terabytes
Precisión del modelo predictivo	87.3%

Experiencia operativa de atención médica

Agilon Health tiene $ 2.1 mil millones en ingresos totales para 2023, con experiencia operativa que abarca la gestión de riesgos y los modelos de atención basados ​​en el valor.

Sistemas de gestión de relaciones de pacientes

La tecnología de gestión de pacientes de la compañía respalda el 98.6% de su red médica con sistemas integrados de registros de salud electrónicos.

• Tasa de integración del sistema: 98.6%
• Seguimiento promedio de la interacción del paciente: 4.2 puntos de contacto por paciente anualmente

Agilon Health, inc. (AGL) - Modelo de negocio: propuestas de valor

Atención mejorada al paciente a través de servicios médicos personalizados

Agilon Health atiende a 157,000 pacientes con Medicare en 10 estados a partir del cuarto trimestre de 2023. El modelo de servicios médicos personalizados de la compañía se centra en:

• Gestión directa de atención primaria
• Coordinación de atención individualizada
• Seguimiento de pacientes con tecnología

Métrica de servicio del paciente	2023 datos
Total de pacientes de Medicare	157,000
Estados de operación	10
Frecuencia promedio de interacción del paciente	4.2 veces al año

Prestación de salud rentable para poblaciones de Medicare

El modelo financiero de Agilon Health demuestra una eficiencia rentable con:

• $ 1.8 mil millones ingresos totales en 2023
• Reducción de costos por paciente del 12,3%
• Valor del contrato de Medicare Advantage de $ 2.4 mil millones

Mejores resultados de salud a través de intervenciones basadas en datos

Métrica de resultados de salud	Actuación
Mejora del manejo de enfermedades crónicas	18.5%
Reducción del reingreso del hospital	22.7%
Compromiso de atención preventiva	67.3%

Navegación de atención médica simplificada para pacientes mayores

Las métricas clave de soporte de navegación incluyen:

• Plataforma de soporte de pacientes 24/7
• Interfaz de salud digital con 89.6% de satisfacción del paciente
• Equipo de coordinación de atención de 672 profesionales

Gestión de atención primaria integral

Estadísticas de gestión de atención primaria:

• Asociaciones con 3.200 médicos de atención primaria
• Tamaño promedio del panel del paciente: 425 pacientes por médico
• Inversión anual de gestión de atención por paciente: $ 1,287

Agilon Health, inc. (AGL) - Modelo de negocio: relaciones con los clientes

Asociaciones de grupo médico a largo plazo

A partir del cuarto trimestre de 2023, Agilon Health administra asociaciones con 74 grupos médicos en 11 estados. La duración promedio del contrato es de 10.2 años, que cubre aproximadamente 275,000 vidas de Medicare Advantage.

Métrico de asociación	Valor cuantitativo
Grupos médicos totales	74
Estados geográficos cubiertos	11
Medicare Advantage Lives manejadas	275,000
Duración promedio del contrato	10.2 años

Plataformas de compromiso de salud digital

Soporte de plataformas digitales de Agilon Health:

• Integración de datos del paciente en tiempo real
• Capacidades de consulta de telesalud
• Sincronización de registros de salud electrónicos

Comunicación personalizada del paciente

Los canales de comunicación incluyen:

• Divulgación proactiva: 92% de las interacciones del paciente
• Comunicación multicanal (teléfono, mensaje de texto, correo electrónico)
• Notificaciones personalizadas de gestión de la salud

Servicios continuos de monitoreo de salud

Servicio de monitoreo	Porcentaje de cobertura
Seguimiento de condiciones crónicas	87%
Monitoreo de pacientes remotos	65%
Alertas de cuidados preventivos	79%

Apoyo de coordinación de atención dedicada

Las métricas de coordinación de la atención incluyen:

• Tamaño del equipo de coordinación de atención promedio: 6.3 profesionales por cada 1,000 pacientes
• Puntos de contacto de coordinación: 4.7 por paciente mensualmente
• Tasa de éxito de la gestión de transición de la atención: 94%

Agilon Health, inc. (AGL) - Modelo de negocio: canales

Redes directas de médicos de atención primaria

A partir del cuarto trimestre de 2023, Agilon Health se asocia con 272 grupos de médicos de atención primaria en 11 estados. Número total de médicos de atención primaria en la red: 3,847.

Estado	Número de grupos médicos	Total de los médicos
Florida	64	892
Texas	53	743
Arizona	41	578

Plataformas de telesalud digital

Métricas de participación de la plataforma digital para 2023:

• Consultas totales de telesalud: 1.2 millones
• Usuarios activos mensuales promedio: 187,000
• Tasa de satisfacción de la plataforma: 87.3%

Interfaces del plan de ventaja de Medicare

Detalles de la red de Medicare Advantage:

Métrico	2023 datos
Miembros totales de Medicare Advantage	228,500
Prima mensual promedio	$42.37
Área de cobertura de red	11 estados

Aplicaciones de salud móvil

Rendimiento de la aplicación móvil en 2023:

• Descargas totales de aplicaciones: 326,000
• Usuarios activos mensuales: 142,000
• Participación promedio del usuario: 18.5 minutos por sesión

Portales de proveedores de atención médica

Estadísticas de utilización del portal del proveedor:

Característica de portal	Tasa de uso
Acceso de registro de paciente	92%
Presentación de reclamos	88%
Gestión de facturación	85%

Agilon Health, inc. (AGL) - Modelo de negocio: segmentos de clientes

Medicare Advantage inscribió a personas mayores

A partir del cuarto trimestre de 2023, Agilon Health atiende a aproximadamente 324,000 pacientes con ventaja de Medicare en 26 estados.

Rango de edad	Total de pacientes	Porcentaje
65-74 años	187,000	57.7%
75-84 años	98,000	30.2%
85+ años	39,000	12.1%

Médicos de atención primaria

Agilon Health se asocia con 1.200 médicos de atención primaria a través de su red.

• Tamaño promedio de la práctica: 8-12 médicos
• Cobertura geográfica: 26 estados
• Especialización en red: modelos de atención basados ​​en el valor

Grupos de proveedores de atención médica

Tipo de grupo de proveedores	Número de grupos	Total de los médicos
Asociaciones de práctica independientes	38	780
Grupos médicos	22	420

Poblaciones de pacientes en riesgo

Desglose de la condición crónica para la población de pacientes:

Condición crónica	Contar con el paciente	Porcentaje
Diabetes	102,000	31.5%
Hipertensión	156,000	48.1%
Cardiopatía	68,000	21%

Consumidores de atención médica de edad avanzada

Mercado total direccionable para los consumidores de atención médica de edad avanzada: 12.4 millones de afiliados a Medicare Advantage en los estados objetivo.

• Gasto promedio de atención médica anual por paciente: $ 12,480
• Crecimiento del mercado proyectado: 6.2% anual
• Penetración actual del mercado: 2.6%

Agilon Health, inc. (AGL) - Modelo de negocio: Estructura de costos

Gastos de gestión de la red médica

En el año fiscal 2023, Agilon Health informó gastos de gestión de la red de médicos de $ 183.4 millones, lo que representa el 22.7% de los costos operativos totales.

Categoría de gastos	Cantidad ($ m)	Porcentaje de costos totales
Compensación médica	98.6	12.2%
Acreditación de red	35.2	4.4%
Servicios de soporte de proveedores	49.6	6.1%

Desarrollo de la plataforma tecnológica

Las inversiones tecnológicas para 2023 totalizaron $ 76.2 millones, con asignaciones específicas de la siguiente manera:

• Desarrollo de software: $ 42.3 millones
• Infraestructura en la nube: $ 18.7 millones
• Mejoras de ciberseguridad: $ 15.2 millones

Infraestructura de análisis de datos

Los costos de infraestructura de análisis de datos para 2023 fueron de $ 54.8 millones, desglosados ​​como:

Componente de análisis	Inversión ($ m)
Sistemas de procesamiento de datos	24.6
Herramientas de aprendizaje automático	16.9
Modelado predictivo	13.3

Prestación de servicios de salud

Los costos de prestación de servicios en 2023 ascendieron a $ 267.5 millones, con la siguiente distribución:

• Operaciones clínicas: $ 142.3 millones
• Coordinación de la atención: $ 65.7 millones
• Sistemas de gestión del paciente: $ 59.5 millones

Costos de marketing y adquisición de pacientes

Los gastos de marketing para 2023 fueron de $ 42.1 millones, asignados en varios canales:

Canal de marketing	Gasto ($ m)	Porcentaje
Marketing digital	18.9	44.9%
Referencias de proveedores de atención médica	12.6	30.0%
Medios tradicionales	10.6	25.1%

Agilon Health, inc. (AGL) - Modelo de negocio: flujos de ingresos

Pagos de ventaja de Medicare por paciente

En el tercer trimestre de 2023, Agilon Health reportó $ 274.1 millones en ingresos totales de los pagos por paciente de Medicare Advantage. La compañía administra aproximadamente 204,000 Vidas de Medicare Advantage en múltiples estados.

Métrico	Valor
Ingresos totales de ventaja de Medicare	$ 274.1 millones (tercer trimestre de 2023)
Vives administradas de Medicare Advantage	204,000

Pagos de incentivos de atención basados ​​en el valor

Agilon Health generó $ 42.3 millones en pagos de incentivos de atención basados ​​en el valor en el tercer trimestre de 2023, que representa un componente clave de su estrategia de ingresos.

• Porcentaje de pago de atención basada en el valor: 15.4% de los ingresos totales
• Pago de incentivo promedio por paciente: $ 207

Licencias de plataforma de tecnología

La compañía reportó $ 18.7 millones en ingresos por licencias de plataforma de tecnología para el tercer trimestre de 2023.

Ingresos por licencias	Cantidad
Licencias de plataforma tecnológica del trimestre 2023	$ 18.7 millones

Servicios de Insights de datos de atención médica

Healthcare Data Insights Services contribuyó con $ 12.5 millones a los ingresos de Agilon Health en el tercer trimestre de 2023.

• Ingresos de información de datos: $ 12.5 millones
• Número de organizaciones de atención médica atendida: 37

Tarifas de coordinación de la atención

Las tarifas de coordinación de la atención ascendieron a $ 22.9 millones en el tercer trimestre de 2023.

Métrica de coordinación de la atención	Valor
Tarifas de coordinación de atención total	$ 22.9 millones
Tarifa promedio por paciente	$112

agilon health, inc. (AGL) - Canvas Business Model: Value Propositions

Enables physicians to transition to a profitable, value-based Total Care Model

• PCPs supported by agilon health's full-risk VBC model saw an average of 8 more new Traditional Medicare patients annually in 2023 compared to fee-for-service peers.
• This represents an approximate 35% relative increase in new Traditional Medicare patient volume.
• PCPs shifting to VBC kept their practices open to new Traditional Medicare patients for 0.7 more months per year on average.
• The company's full-year 2025 Medical Margin guidance is between $275 million and $325 million.
• The company is targeting cash flow breakeven by 2027.

Provides capital and technology for physicians to maintain independence

• agilon health provides technology, people, capital, process, and access to a peer network.
• The peer network included over 3,000 primary care doctors as of May 2024.
• In 2024, the Network reinvested over $250 million into local primary care within the communities served.
• The platform offers comprehensive capabilities in data analytics, care coordination, and risk management.

Improves patient outcomes, like reducing new inpatient heart failure diagnoses to 5% in 2025

Here's the quick math on that specific outcome:

Metric	2024 Value	2025 Value
New Inpatient Heart Failure Diagnoses Rate	18%	5%
Heart Failure 30-Day Readmit Rate (with integrated solutions)	National Average ~20%	Below 5%

Also, in markets with virtual pharmacy solutions active, approximately 50% of heart failure with reduced ejection fraction patients are on guideline-directed medication therapy, compared to national averages below 20%.

Offers payers a partner to manage the total cost of care for senior populations

• As of June 30, 2025, agilon health supported 614,000 total members on its platform.
• Of those members, 498,000 were Medicare Advantage members.
• The company projects full-year 2025 revenue between $5.85 billion and $6.025 billion.
• The company is focused on enhancing financial and clinical data visibility and partnership performance.

Higher physician satisfaction by shifting focus from volume to patient health

• The VBC model incentivizes PCPs to spend more time with patients, shifting away from fee-for-service volume rewards.
• Benefits of clinical and operating programs include improved physician onboarding and quality performance.
• The model allows physician partners to focus on the total health of their patients.

Finance: draft updated 2027 cash flow breakeven sensitivity analysis by next Tuesday.

agilon health, inc. (AGL) - Canvas Business Model: Customer Relationships

You're looking at how agilon health, inc. (AGL) builds and maintains its core relationships with physician groups-it's not a transactional setup; it's deep and long-term. The entire model hinges on a long-term, high-touch partnership model with physician groups, designed to help them transition from the old fee-for-service way to a value-based Total Care Model, letting them keep their independence. This is the main draw for their customers.

The commitment is evident in the scale of the network. As of the second quarter of 2025, agilon health, inc. (AGL) had a total of 614,000 members on its platform, which included 498,000 Medicare Advantage (MA) members. This network is built on partnerships with physician groups, and as of May 2024, the Physician Network included over 3,000 primary care physicians across more than 30 groups and health systems in long-term partnerships. These partners typically work with an average of 3 to 5 payers in their local market. That's a lot of coordination.

The relationship is supported by dedicated local market teams supporting physician practice transformation. These teams are crucial for onboarding and execution. The company made a conscious decision to grow meaningfully in 2023 and 2024, which required significant investment in platform capabilities and OpEx to bring on new members and enter new markets. This investment is designed to pay off by improving physician performance, which in turn attracts more doctors to join the network. For example, PCPs supported by agilon health, inc. (AGL)'s VBC model saw an approximate 35% relative increase in new Traditional Medicare (TM) patient volume, or about eight more new TM patients per year, compared to a non-VBC cohort. Plus, they kept their practices open to new TM patients for 0.7 more months per year on average.

The integrated technology platform for continuous data sharing and support is what makes the high-touch model scalable. This platform provides comprehensive capabilities in data analytics, care coordination, and risk management. The enhanced data visibility is key; for instance, in 2025, the platform informed a reduction in risk adjustment revenue of $48 million year-to-date, representing 72% of their membership, because it provided better insights into risk coding. This data-driven approach allows for a singular view of the patient at the point of care, helping physicians manage complex needs like medication adjustments or closing care gaps.

Proactive patient outreach and care coordination services are central to the Total Care Model. The goal is to shift from ad hoc care when someone gets sick to much better continuity of care. This focus on proactive management yields measurable results; agilon health, inc. (AGL) has reported a 20% to 30% reduction in ER and inpatient utilization compared to local benchmarks. In the ACO REACH program specifically, utilization was outperforming the reference fee-for-service population by over 300 basis points as of late 2023, showing the impact of managed care.

Finally, the relationship is cemented by financial and clinical alignment through shared savings incentives. The model rewards quality and cost reduction, not volume. Anchor physician groups receive a portion of the Risk-Bearing Entity's savings from successfully improving care quality and reducing costs. This alignment is quantified in performance metrics. For instance, the Medicare Advantage program achieved quality scores of 4.25 stars or better, which resulted in a 5% bonus. Furthermore, the medical margin in the ACO REACH program was reported at over $100 PMPM, with a long-term goal of $150 to $200 PMPM in mature markets. This financial structure is working at the market level, too; as of late 2024, 87% of markets (21 of 24) were adjusted EBITDA positive at the market level, meaning the Medical Margin generated was covering the costs of operating that market. The company's reiterated 2025 EBITDA guidance uplift of $50 million was specifically comprised of $25 million from quality incentives and $25 million from clinical cost savings.

Here's a quick look at some key relationship metrics as of mid-2025:

Metric Category	Specific Data Point	Value / Amount
Partnership Scale (Q2 2025 End)	Total Members on Platform	614,000
Partnership Scale (Q2 2025 End)	Medicare Advantage (MA) Membership	498,000
Partnership Scale (May 2024 Announcement)	Total Primary Care Doctors in Network	Over 3,000
Technology Impact (YTD 2025)	Risk Adjustment Revenue Reduction Informed by Platform	$48 million
Clinical Impact (VBC vs FFS)	Relative Increase in New TM Patient Volume	35%
Financial Alignment (Quality)	MA Program Quality Score for Bonus Eligibility	4.25 stars or better
Financial Alignment (Margin)	ACO REACH Medical Margin (Reported)	Over $100 PMPM
Market Viability	Markets Covering Operating Costs via Medical Margin	87% (21 of 24)

The demand for this partnership remains strong, as evidenced by the fact that even in a transition year like 2025, physician groups are still looking to join the platform to avoid acquisition by health systems or insurance company affiliates.

Finance: draft 13-week cash view by Friday.

agilon health, inc. (AGL) - Canvas Business Model: Channels

You're looking at how agilon health, inc. (AGL) gets its value proposition-enabling value-based care-out to the market and its key partners. The channels here are less about selling a widget and more about forging deep, long-term, full-risk relationships with physician groups.

Direct sales and business development to target leading physician groups

The primary channel for growth is direct engagement with established, community-based physician groups and health systems. This is a high-touch, relationship-driven sales process focused on convincing leaders to transition to the Total Care Model.

The scale of this channel is reflected in the network size and membership figures as of mid-2025. As of June 30, 2025, the total members on the agilon platform reached 614,000. This membership base is the direct result of successful business development efforts. For instance, the 'Class of 2025' was anticipated to bring in approximately 20,000 new Medicare Advantage members, often starting with a care coordination fee before transitioning to full risk.

Here's a snapshot of the scale achieved through these partnership channels:

Metric	Value as of Late 2025 Data Point	Context/Date of Data
Total Members on Platform	614,000	June 30, 2025
Medicare Advantage Members	498,000	June 30, 2025
ACO REACH Model Beneficiaries	116,000	June 30, 2025
Physician Groups/Health Systems in Partnership	More than 30	As of May 2024 announcement
Total Primary Care Physicians in Network	Over 3,000	As of May 2024 announcement

Peer-to-peer physician referrals within the agilon network

Once a group is partnered, the network itself becomes a powerful channel for organic growth. Satisfied partners act as advocates, which is crucial in the physician community where trust is paramount. This word-of-mouth growth is highly efficient.

The engagement level within the existing network supports this channel. Agilon health reported that its physician partners maintain high engagement, with net promoter scores reported in the 70s and 80s. Furthermore, the network reinvested $250+ million into local primary care in 2024, demonstrating tangible benefits that fuel referrals. The platform also provides access to a peer network of over 2,200+ primary care physicians.

This channel is about demonstrating success:

• Peer network access: Over 2,200+ PCPs.
• Partner satisfaction: NPS scores in the 70s and 80s.
• Local reinvestment: $250+ million in 2024.

Local market presence and community-based physician practices

The model is inherently local, focusing on community-based physician practices. The direct sales channel establishes a footprint in specific geographic areas, which then builds density. As of May 2024, the network spanned over 30+ communities.

The company has been strategic about its physical and operational presence. For example, new partnerships in 2024 meant agilon entered the state of Illinois for the first time and expanded in Kentucky, Minnesota, and North Carolina. Geographic entry costs for 2025 were estimated to be between $35-40 million, reflecting a measured growth strategy to align performance in the current environment, rather than an aggressive, broad expansion.

Investor relations and public communications for capital markets access

For capital markets access, the channel is formal, regulated communication. This involves regular disclosures to maintain liquidity and investor confidence. You see this activity scheduled throughout the year.

Key communication events in 2025 included:

• First Quarter 2025 Financial Results release on May 6, 2025.
• Second Quarter 2025 Results release on August 5, 2025.
• Third Quarter 2025 Earnings Presentation available in November 2025.

Financial performance communicated through these channels in 2025 provides the data points for market assessment. For instance, Q2 2025 total revenues were $1.4 billion, and the company reported a net loss of $104 million for that quarter. The company has a stated goal to reach cash flow breakeven by 2027.

agilon health, inc. (AGL) - Canvas Business Model: Customer Segments

You're looking at who agilon health, inc. (AGL) is actually serving right now, which is key to understanding their revenue engine. It's not just one group; it's a focused ecosystem centered on seniors under value-based care contracts.

Independent Primary Care Physician (PCP) groups focused on senior care

These physician groups are the core partners. agilon health, inc. empowers them to shift from the old fee-for-service way of doing things to a Total Care Model, which means they get paid based on keeping patients healthy, not just treating them when they're sick. As of December 31, 2024, the network was built around 29 anchor physician groups operating across 30 geographies. The platform supports a network that includes over 2,200+ primary care physicians.

The customer here is the physician group itself, which is looking for:

• Capital and technology support.
• A path to full-risk value-based care.
• Maintenance of physician independence.

Senior patients enrolled in Medicare Advantage (MA) plans, totaling 503,000 members in Q3 2025

This is the largest patient population driving the core business. These are seniors who have chosen a Medicare Advantage plan that partners with agilon health, inc.'s physician groups. The focus is on managing the total cost and quality of care for this specific group. You need to know the scale here, so for the third quarter of 2025, the number of MA members is stated as 503,000.

Beneficiaries in the ACO REACH model, totaling 115,000 members in Q3 2025

This segment represents Traditional Medicare beneficiaries managed under the Accountable Care Organization Realizing Equity, Access, and Community Health (ACO REACH) model. This is a high-risk track where the physician partners share in the savings or losses for the total cost of care. For Q3 2025, the number of beneficiaries in this model is stated as 115,000.

To give you a sense of the scale as of the middle of the year, here's a quick look at the membership snapshot from the second quarter:

Metric	Count as of June 30, 2025
Total Members on Platform	614,000
Medicare Advantage Members	498,000
ACO REACH Model Beneficiaries	116,000

Large, multi-specialty physician practices in diverse U.S. communities

While the primary focus is on senior care through PCPs, the network also includes other practice types. The agilon health, inc. Physician Network is comprised of independent primary care physician practices, multi-specialty practices, practice associations, hospital physician groups, and hospital systems. This diversity helps them serve the total health needs of their attributed Medicare patients across various settings.

The key customer characteristics agilon health, inc. targets across these segments include:

• Physician groups committed to value-based care principles.
• Medicare-eligible seniors needing coordinated, high-quality care.
• Practices operating in the 30+ geographies where agilon health, inc. has established its platform.

Finance: draft 13-week cash view by Friday.

agilon health, inc. (AGL) - Canvas Business Model: Cost Structure

You're looking at the cost structure for agilon health, inc. (AGL) as of late 2025. This isn't just a list of expenses; it's where the money goes to support their physician partners and manage the risk in their Medicare-centric model. Honestly, the biggest driver of cost variability is the actual care delivery.

Medical costs paid to specialists and hospitals for member care (largest cost)

The direct cost of care is best seen through the Medical Margin, which is revenue minus medical costs. When this number is negative, it means the cost of care exceeded the revenue generated for that period. For the third quarter of 2025, the medical margin was a loss of $57 million. agilon health, inc. (AGL) is actively managing this trend, as evidenced by the reinstated full-year 2025 guidance midpoint projecting a medical margin of $5 million, a significant swing from the Q3 result. This implies better cost control or risk adjustment realization is expected in the final quarter.

• Q3 2025 Medical Margin: negative $57 million
• Q3 2024 Medical Margin: negative $58 million
• FY 2025 Projected Medical Margin (Midpoint): $5 million
• FY 2025 Projected Medical Margin (Range): negative $5 million to $15 million

Technology platform development and maintenance expenses

The platform is key for data analytics and care coordination. While a specific technology expense line item isn't isolated in the latest reports, cost discipline efforts are clear. They are building a more streamlined organization, and this includes technology infrastructure improvements, like the enhanced data pipeline that went live in Q1 2025, covering approximately 80% of their members with more timely direct payer data feeds.

Operating expenses for corporate and local market support teams

These are the general overhead and administrative costs to run the business and support the physician groups. The company is actively working to reduce this spend. Management has specifically targeted an estimated $30 million reduction in operating expenses for the 2026 fiscal year. The overall profitability challenge is reflected in the Adjusted EBITDA loss for the third quarter of 2025, which was $91 million.

Here's a quick look at the profitability picture for Q3 2025 versus the full-year 2025 guidance:

Metric	Q3 2025 Actual	FY 2025 Guidance (Midpoint)
Revenue	$1.44 billion	$5.82 billion
Medical Margin	negative $57 million	$5 million
Adjusted EBITDA	negative $91 million	negative $258 million

Physician partner payments, including shared savings distributions

Payments to partners are embedded in the model, often tied to performance and shared savings. The performance of the Accountable Care Organization (ACO) model entities is a key component. For fiscal year 2025, the expected Adjusted EBITDA contribution from these ACO model entities is projected to be between $40 million to $45 million.

High initial geography entry costs, which they are now streamlining

Exiting certain markets has created a direct, measurable cost impact in the current period. The company absorbed a negative financial impact of $20 million in the third quarter of 2025 specifically due to these exited markets. For the full year 2025, the expected negative impact from these exited markets is estimated to be $60 million. They are definitely moving to a more streamlined structure now.

• Negative impact from exited markets in Q3 2025: $20 million
• Full Year 2025 expected impact from exited markets: $60 million

Finance: draft 13-week cash view by Friday.

agilon health, inc. (AGL) - Canvas Business Model: Revenue Streams

You're looking at how agilon health, inc. (AGL) brings in money, which is all about managing risk and population health for seniors. The core of the revenue model centers on taking on financial risk from payers, primarily through Medicare Advantage (MA) contracts.

The primary revenue driver is Capitation revenue, which is the Per Member Per Month (PMPM) payment received from Health Plans/Payers for managing the full-risk MA members. This is the foundation of the value-based enablement platform. As of the second quarter of 2025, agilon health, inc. served 498,000 Medicare Advantage members. The full-year 2025 membership guidance projects MA membership in the range of 503,000 to 506,000.

The company also generates revenue through its participation in the Accountable Care Organization Realizing Equity, Access, and Community Health (ACO REACH) model beneficiaries. This stream is structured around shared savings. For the full fiscal year 2025, this ACO REACH model is expected to contribute between $35 million to $40 million to Adjusted EBITDA. For context on recent performance, the ACO REACH Adjusted EBITDA was $18 million in the third quarter of 2025.

The overall financial expectation for the year reflects the combined performance of these streams. Full-year 2025 revenue is projected at a midpoint of $5.82 billion. The guidance range for the full year is $5.81 billion to $5.83 billion.

Another component involves Care coordination fees for new members who are on a glidepath toward full risk arrangements. This represents revenue generated while transitioning partners onto the most comprehensive, full-risk contracts. The company is actively working on optimizing its platform and clinical programs to enhance performance in these arrangements.

Here's a look at the membership and revenue context as of late 2025:

Metric	Latest Reported Figure (Q3 2025)	Full Year 2025 Guidance (Midpoint/Range)
Total Revenue	$1.44 billion (Q3 2025)	$5.82 billion (Midpoint)
Medicare Advantage Membership	Not explicitly stated for Q3 2025	503,000 to 506,000
ACO Model Beneficiaries	Not explicitly stated for Q3 2025	113,000 to 115,000
ACO REACH Adjusted EBITDA Contribution	$18 million (Q3 2025)	$35 million to $40 million (FY 2025)

The revenue streams are heavily reliant on the underlying membership base, which is managed through long-term partnerships and global capitation arrangements. The company has also focused on operating cost reductions, specifically noting a reduction of operating costs by $30 million.

You can see the revenue composition is tied to the transition of physician groups onto the platform, which involves several stages of financial engagement:

• Full-Risk Capitation: The most mature revenue stream from MA members.
• Glidepath Fees: Initial fees for care coordination services for newer partners.
• Shared Savings: Performance-based revenue from the ACO REACH model.

The company is using an enhanced data pipeline, live in the first quarter of 2025, to improve forecasting and reduce volatility in revenue recognition, which impacts risk adjustment components of capitation. Finance: draft 13-week cash view by Friday.